ABN Newswire

Aspire Mining Limited (ASX:AKM) Reports 178 Mt JORC Compliant Coal Reserve for Ovoot

newsroom@abnnewswire.net — Mon, 28 May 2012 13:11:00 GMT

Aspire Mining Limited (ASX:AKM) is pleased to announce it has established a maiden 178 million tonne JORC Code compliant open pit Coal Reserve for its Ovoot Coking Coal Project ("Ovoot" or "the Project") in northern Mongolia.

The updated Coal Reserve and Coal Resource Statement was completed by Xstract Mining Consultants Pty Ltd ("Xstract") and will be included in the Pre-Feasibility Study on the Ovoot Coking Coal Project.

Xstract estimates that a 178 Mt open pit Coal Reserve would produce 147 Mt of high quality marketable coking coal, based on average wash yields of 82.5%.

Xstract have also noted that a further 8 Mt of Inferred Resources will be mined in the open pit and have been included in the Mine Plan as Run Of Mine ("ROM") tonnes, but are not included in the estimation of Coal Reserves. The Ovoot Pre-Feasibility Study will therefore have a mine and production plan showing 185 Mt of coal mined producing 153 Mt of coking coal.

Notwithstanding the significant maiden Coal Reserve now established, potential remained to further increase Ovoot's Coal Reserves through:

- Further geotechnical investigations to refine the pit design for extraction of deeper coal that could allow 20 Mt of Measured and Indicated Coal Resource below 300 m to be considered for mining as part of the planned open pit;

- Further infill drilling to upgrade 18 Mt of Inferred Resources; and

- Underground mining studies.

With 178 Mt of coking Coal Reserves, the Ovoot Coking Coal Project is already the third largest known coking coal Reserve in Mongolia (refer Figure 1) after the Mongolian Government owned Tavan Tolgoi deposit and Mongolian Mining Corporation's Ukhaa Khudag ("UHG") Mine. The Ovoot Coking Coal Project has numerous opportunities for further Coal Reserve increases from existing Coal Resources and further potential from exploration drilling planned for 2012.

Aspire's Managing Director David Paull said: "The confirmation of a significant initial open pit Coal Reserve of 178 Mt and clear scope to increase this to more than 200 Mt means the Ovoot Project is now comparable with the largest coking coal Reserves in Mongolia outside of the Government owned Tavan Tolgoi.

"Aspire will work through 2012 to increase Ovoot's Coal Reserves and Coal Resources, however, we are also strongly focusing on the Project's infrastructure requirements, including the establishment of a multi-user rail line facility. Part of that process will be gaining necessary Government and financial support to progress Aspire's subsidiary, Northern Railways LLC and the Erdenet to Moron rail extension."

Reserves

------------------------------------------------------------------
            Coal Reserve      Coal Reserve       Marketable Coal
Category        (adb)      (arb, 2% Moisture)      Reserve (arb,
               ROM Mt            ROM Mt          8.5% Moisture) Mt
------------------------------------------------------------------
Probable        176               178                 147
Total           176               178                 147
------------------------------------------------------------------

Table 1: Ovoot Coal Reserve Estimate to 300m depth as at 25 May 2012

The above Probable Coal Reserves are based on 2% moisture on an as received basis.

There are a number of opportunities available to increase Coal Reserves from the existing 178 Mt:

1) 8 Mt of coal within the FP1 and ULS seams remain categorised as Inferred Resources due to the density of coal quality sampling. This coal has only been included in the scheduled ROM tonnage. With additional drilling to increase coal quality confidence there is an opportunity to bring this coal into the Coal Reserves.

2) A newly identified, locally developed, thick basal seam named 'OVB' contains 10 Mt of coal that has been classified as Inferred Resources due to coal quality sample and drilling density concerns. The OVB will also be the focus of additional work in order to upgrade its Resource status. When this has been achieved additional studies will investigate deepening of the pit and the possibility of including OVB in the Coal Reserves.

3) Currently 20 Mt of Measured and Indicated Coal Resources are below 300 m depth and there is insufficient detailed geotechnical data to confidently extend the pit to beyond these depths. Additional geotechnical drilling and investigations targeting this area will be planned for in the September 2012 Quarter.

4) There are 25 Mt of Indicated Coal Resources to the northeast of the project area that will be the focus of underground mining studies in the second half 2012.

5) Further exploration drilling will be focused on extending the known limits of the Coal Resource and regional exploration drilling testing the potential coal locations.

Based on Aspire's current market capitalisation, the economic value per tonne of current Coal Reserves is US$0.65 per tonne. With high average yields of 82.5% of quality coking coal, the open pit Coal Reserves of 178 Mt will convert to 147 Mt of marketable coking coal. On an economic value per tonne of marketable coking coal, Ovoot coking coal is currently valued at US$0.76 per tonne.

Resources

The Coal Resource base for the Ovoot Project has decreased after reassessment by Xstract, including the substantial amount of additional drilling data acquired since October 2010.

The original October 2010 Coal Resource of 330 Mt (93.3 Mt Measured, 182.4 Mt Indicated and 55.0 Mt Inferred) was based on 44 holes for 8,364 m of drilling, while the May 2012 Coal Resource is based on 166 holes and 38,000 m of drilling. The main reason for the Coal Resource reduction is the loss of tonnes largely from the northern part of the Ovoot deposit as a result of changes in the interpretation of the position of the basement. This has resulted from locations where the basement has been found to be higher than originally interpreted.

While the Ovoot Coal Resource has been reduced, there has been more coal reported in the Measured category with 62% now categorised as Measured, 28% as Indicated and only 10% as Inferred. This has provided much greater confidence in the large scale probable Coal Reserve of 178 Mt being reported.

Three main coal seam groups have been identified in the Main Area, namely the Upper, Lower and OVB (refer Figure 2). Both the Upper and Lower groups in the Main Area are composite seams comprised of twelve and four separate plies respectively. The OVB seam consists of numerous thin plies not yet uniquely identified and correlated. "Coal above BOW" describes coal above the base of weathering horizon that at this stage is assessed as not suitable as coking coal, but is an acceptable thermal coal product.

Coal Resource definition parameters are similar between the October 2010 and May 2012 Coal Resources.

May 2012 Coal Resources include 28 Mt (25 Mt Indicated and 3 Mt Inferred) in the recently discovered area to the north east of the open pit.

Additional Resources

In April 2012, the Company completed a number of additional infill holes and resource extension holes, the results of which are summarised in Table 3. These holes were successful in extending the delineation of the coking coal seams to the south west and north east. In particular, hole DH359 in the northeast of the Ovoot open pit recorded 17 m of coal at depths greater than 253 m. This, and other holes nearby indicate that a coal seam of reasonable thickness is open to the north and north east (refer to Figure 2).

Additional resources may be identified through closing the gap between the Ovoot open pit and the north east exploration area by extending drilling north and north east from hole DH359.

In addition, and as reported in the March 2012 Quarterly report, a large step out hole 1.5 km to the east of the open pit, intersected 1.8 m of coal from 355 m (hole DH335). While this result is outside of the Coal Resource envelope, and is of modest thickness, it does potentially extend the strike of the coal deposit and indicates that the central part of the Ovoot Basin is prospective for resource growth to the east with a focus on identifying where near surface coal can be found.

Future Exploration

The Ovoot Project area the subject of the Pre-Feasibility Study comprises approximately 50 square kilometres out of the Ovoot Basin which covers 500 square kilometres. At present only 20% of the Basin has been effectively explored.

While efforts will focus on increases to already robust open pit reserves in and around the existing Ovoot Project area, there remains untested exploration potential throughout the balance of the Ovoot Basin. Reviews of recently flown airborne magnetics has identified five additional large scale exploration targets. Exploration activities will particularly focus on the Hurimt Prospect.

To view the complete Aspire Mining announcement including Tables and Figures, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-AKM-591301.pdf

Aspire Mining Limited
T: +61-8-9287-4555
F: +61-8-9388-1980
WWW: www.aspiremininglimited.com

Archer Exploration Limited (ASX:AXE) Resignation of Hon John Dawkins and Peter Meers as Directors

newsroom@abnnewswire.net — Fri, 25 May 2012 10:26:00 GMT

Archer Exploration Limited (ASX:AXE) advises that following the sale of the remaining shares held in Archer by Hudson Resources Limited ("Hudson and related companies"), Mr. Peter Meers has resigned as a Director of Archer, effective immediately. The Honourable John Dawkins AO is currently overseas but has notified the Chairman that he intends to resign as a Director of Archer within the next week. Archer will notify ASX upon receiving a signed written resignation from John Dawkins. Both Directors were appointees of Hudson and their appointments were conditional on Hudson maintaining a substantial share holding in Archer.

The Board of Archer greatly appreciated and benefited from the skills and broad range of business experience that John and Peter bought to the Company during their Directorships.

Archer with its solid cash position is well placed to accelerate exploration and development of its key graphite projects at Campoona and Sugarloaf. Resource drilling to achieve a JORC Measured Resource at Campoona is underway and weather permitting, will be completed within three months. Given the importance of Campoona and the other emerging projects that the Company has, Archer will be commencing a search for a senior person with substantial mining experience to join the Company as a Director to assist in the transition from explorer to miner.

Archer Exploration Limited
T: +62-8-8272-3288
WWW: www.archerexploration.com.au

Archer Exploration Limited (ASX:AXE) Resource Drilling Recommences at Campoona Graphite Project

newsroom@abnnewswire.net — Thu, 24 May 2012 08:36:00 GMT

Archer Exploration Limited (ASX:AXE) advises that resource drilling recommenced on the 23rd May 2012 at the Company's 100% owned Campoona Graphite Project located approximately 12km north of the township of Cleve on Eyre Peninsula, South Australia.

Drilling by the Company in February and again in April 2012 confirmed the presence of visible flake graphite within a discrete intense graphitic shear zone hosted in low grade graphitic proto-gneiss (high grade metamorphosed sediments). The high grade graphite unit averages 10-50m in true width with the hangingwall section particularly high grade averaging over 15% graphitic carbon and carrying visible flake.

The current phase of drilling is the third and final phase of a staged resource drilling programme to identify a JORC Measured Resource at Campoona Shaft. It is expected that the drilling will take 8-12 weeks to complete with the assay results to be progressively reported.

Notes on Exploration Potential

Exploration Potential - Tonnage*

Drilling results at Campoona Shaft confirm that the graphitic-rich body consists of a discrete intense graphitic shear zone hosted in low grade graphitic proto-gneiss (high grade metamorphosed sediments). The high grade graphite unit averages 10-50m in true width with the hangingwall section particularly high grade averaging over 15% graphitic carbon and carrying visible flake. The drilling shows the graphite to extend to a vertical depth of at least 100m and there are no signs of thinning at depth. Drilling results are limited to a strike length of 600 metres however the deposit remains open along strike to the north. No density measurements have been conducted at this time but given the composition of the unit it is reasonable to ascribe a density of 2.2gm/cc.

The lower bound exploration potential assuming a strike length of 600m, an average width of 25m, a down-dip extent of 100m and a specific gravity of 2.2gm/cc is estimated at 3Mt.

The upper bound exploration target assumed a strike of 600m (despite the deposit being open to the north) and a vertical extent to the deposit of 150m is estimated at 5Mt.

Central Campoona has the same overall geology however the intense graphitic unit is narrower averaging 10m in true width. Drilling results are limited to a strike length of 1,400 metres however the deposit remains open along strike to the south. The lower bound exploration potential assuming a strike length of 1,400m an average width of 10m, a down-dip extent of 100m and a specific gravity of 2.2gm/cc is estimated at 3Mt.

The upper bound exploration target assumed a strike of 1,400m (despite the deposit being open to the south) and a vertical extent to the deposit of 150m is estimated at 5Mt.

Exploration Potential - Grade*

At Campoona Shaft the arithmetic average of the graphitic schist in the 10 holes completed to date (sample size n=267; x 11.0%TGC) is 10-12%TGC. A lower grade cut-off of 5%TGC was used.

At Campoona Shaft the arithmetic average of the graphitic schist in the 6 holes completed to date (sample size n=72; x 12.4%TGC) is 11-13%TGC. A lower grade cut-off of 5%TGC was used.

The depth of oxidation at both areas is approximately 80m vertically below surface corresponding with the current water table.

*The potential quantities and grades presented are conceptual in nature, there has been insufficient exploration to define an overall Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource

Metallurgical Testwork

Samples from the April drilling have been submitted for petrological examination and for detailed metallurgical evaluation. Test results should be available within the next week and will be reported once collated.

For the full announcement including tables and charts, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AXE-188120.pdf

Archer Exploration Limited
T: +62-8-8272-3288
WWW: www.archerexploration.com.au

Padbury Mining Limited (ASX:PDY) Boardroom Radio Interview

newsroom@abnnewswire.net — Mon, 21 May 2012 09:50:00 GMT

The company advises that the company's Managing Director, Gary Stokes participated in a Boardroom Radio interview which can be accessed on Boardroom Radio's website brr.com.au as well as on the company's website.

To listen, copy the following details into your web browser:
http://abnnewswire.net/lnk/496A463P

The interview covers the latest results from DSO drilling at Telecom Hill.

Padbury Mining Limited
T: +61-8-6460-0250
F: +61-8-6460-0254
WWW: www.padburymining.com.au

Queensland Mining Corporation (ASX:QMN) Appoints White Range Resource Development Manager

newsroom@abnnewswire.net — Fri, 18 May 2012 09:59:00 GMT

Queensland Mining Corporation (QMC) (ASX:QMN) announces the appointment of Doug McLean to the new position of Resource Development Manager for the White Range Project. Doug is a highly experienced geologist with over 35 years experience in the industry having extensive, multi-commodity experience over greenfields exploration, advanced projects and mine production. He has held senior project development positions with North Flinders Mines and East African Gold Mines for 17 years prior to acting as an independent consulting geologist over the past 9 years, focused on mineral resource development from conceptual evaluation through to feasibility study and project execution.

Recently, Doug was engaged as the senior project resource geologist at the Tropicana Gold Mine in WA for Anglogold Ashanti Ltd.

Doug's contribution will significantly enhance the QMC strength in resource assessment and evaluation. His principle role will be to work closely with the White Range QMC study project team and with the feasibility study consulting engineers, Calder Maloney, to prepare the White Range mineral resource base for copper production.

QMC has retained Golder Associates to provide resource estimation consultant support to the White Range project. Golder Associates primary responsibility will be to review and update the JORC compliant mineral resource estimates in the light of the feasibility resource delineation drill program due to commence in June 2012. This builds on previous work conducted by Golder Associates on the White Range project including resource estimation, pit optimization and mine planning.

"The appointments of Doug McLean and Golder Associates to the White Range feasibility study team is another important step in the development of our significant JORC resources towards production" Howard Renshaw, Managing Director of QMC said.

Queensland Mining Corporation
T: +61-2-9251-6730
F: +61-2-9251-6326
WWW: www.qmcl.com.au

Alara Resources Limited (ASX:AUQ) Drilling Update at the Khnaiguiyah Zinc Copper Project

newsroom@abnnewswire.net — Wed, 16 May 2012 12:50:25 GMT

Australian-based minerals exploration and development company Alara Resources Limited (ASX:AUQ) (Alara) is pleased to report the results from an ongoing drilling programme at its flagship Khnaiguiyah Zinc-Copper Project in Saudi Arabia.

The drilling results announced today confirm the presence of significant additional mineralisation to the maiden Khnaiguiyah JORC Resource announced on 21 February 20121.

These results represent a progressive update on Alara's 10,000m backlog of additional drilling, conducted since the drilling cut-off date of 22 November 2011 for the JORC Resource estimation.

The drilling results cover a total of 19 holes, including a third batch of results from Zone 1 comprising 8 holes and an additional 7 holes from Zone 2. These results are outside the previously defined JORC Resource area and confirm additional mineralisation in Zone 1 and Zone 2 (North extension). In addition to this, 4 holes from Zone 3 covered in this announcement are previously drilled geotechnical holes for which analysis was carried out after completing a related geotechnical study.

Assay results from completed drilling, together with results from drilling continuing in Zones 1 and 2 to confirm mineralised extensions, will be announced over the coming months.

DRILLING HIGHLIGHTS

ZONE 1:
- Hole K1DD12_221 from 24-30.8m: 6.8m at 6.02% Zn; 0.49% Cu
- Hole K1DD12_222 from 63-66m: 3m at 7.51% Zn; 0.95% Cu
- Hole K1DD12_245 from 25.45-34m: 8.55m at 10.91% Zn; 0.19% Cu
including 25.45-28m 2.55m at 21.80% Zn; 0.34% Cu
and 42-47.1m: 5.1m at 10.97% Zn; 0.21% Cu
including 45-46m: 1m at 31.56% Zn; 0.70% Cu

ZONE 2:
- Hole K2DD12_233 from 80.8-86m: 5.2m at 7.15% Zn; 0.14% Cu
- Hole K2DD12_237 from 157-162m: 5m at 8.40% Zn; 0.38% Cu
- Hole K2DD12_239 from 177-188m: 11m at 6.42% Zn; 0.12% Cu
- Hole K2DD12_240 from 91-101m: 10m at 10.90% Zn; 0.31% Cu

ZONE 2 (Copper Rich Zone):
- Hole K2DD12_237 from 164-168m: 4m at 1.09% Cu
- Hole K2DD12_238 from 193.4-203m: 9.6m at 1.47% Cu

ZONE 3:
- Hole K3DD11_037 from 78-82m: 4m at 11.02% Zn; 0.07% Cu
- Hole K3DD11_044 from 187-209.1m: 22.1m at 6.87% Zn; 0.14% Cu
and 214-221m: 7m at 6.69% Zn; 0.65% Cu
- Hole K3DD11_052 from 20-31m: 11m at 5.62% Zn; 0.22% Cu

The results from Zone 1 continue to confirm mineralisation at shallow depths and similar in grade as that found in Zones 2 and 3. In particular, Hole K2DD12_240 drilled in the southernmost edge of Zone 2 intersected 10m at 10.90% Zn. This confirms the mineralisation open in a southern direction positioned along the shear zone.

A complete tabulation of intersection results along with maps indicating the location of these holes in Zones 1, 2 and 3 are attached (refer Appendix - Summary of Intersection Results and Drill-Hole Locations).

It is noted that drill intercepts are reported as drilled; true thicknesses will be calculated at the interpretation and resource modelling stage. The drill intersections are almost perpendicular to mineralisation and no significant difference is expected in true and intersection thickness.

Alara Resources' Managing Director, Shanker Madan, said: "These latest results confirm the presence of additional mineralisation within Zones 1 to 3 and give us further confidence surrounding the feasibility and scale of the Khnaiguiyah Zinc Copper Project."

"The Khnaiguiyah Definitive Feasibility Study (DFS) is nearing completion and is expected to be finalised by the end of June 2012. Once the DFS is complete, Alara will move to the design and construction phase of the Khnaiguiyah Project," added Mr Madan.

DRILLING STATUS

Alara is continuing the infill and step-out drilling to extend mineralisation in
Alara is continuing the infill and step-out drilling to extend mineralisation in Zone 1 and Zone 2 with a view to identifying additional mineralisation prior to the completion of the Khnaiguiyah DFS in Q2 2012. Since the commencement of the Khnaiguiyah Zinc-Copper Project drilling programme, Alara has completed a total of 290 holes to 35,155 metres.

For the full announcement including tables and charts please visit:
http://media.abnnewswire.net/media/en/docs/72641-AUQ-ASX-Release_16May12.pdf

Shanker Madan 
Managing Director
T | +61 8 9214 9787 
E | smadan@alararesources.com

David Loch
Unicus
T | +61 3 9654 8300 
M | +61 411 144 787
E | david@unicusgroup.com.au

Padbury Mining Limited (ASX:PDY) Peak Hill - More Telecom Hill DSO Mineralisation

newsroom@abnnewswire.net — Wed, 16 May 2012 09:46:00 GMT

Padbury Mining Limited (ASX:PDY) and Aurium Resources (ASX:AGU)("the JV Partners") are pleased to announce more highly encouraging results from the recent DSO evaluation drilling program at the Telecom Hill East prospect, part of the Peak Hill Iron Project Joint Venture ("JV" or "Project"). The reverse circulation percussion ("RCP") drilling program was successful at targeting hematite and goethite enrichment of the Robinson Range Formation.

The Telecom Hill DSO target area was recognised from geological mapping and aeromagnetic survey data along strike from high-grade DSO intercepts drilled in 2010.

Mapping indicated that hematite / goethite enrichment had occurred at or near the shale contact of the main BIF unit and this has been confirmed by drilling. The drilling demonstrates that the mineralisation is continuous over 1300m and extends beneath cover and remains open to the west and southeast.

The onsite components of the evaluation programs for the hematite and magnetite are complete. Padbury and CSA Global will review and validate all analytical results as they become available whilst embarking on modelling for JORC compliant estimation work during this quarter.

Telecom Hill East Drilling Program

The Telecom Hill East DSO drilling program was completed during November-February 2011 / 2012 and comprised 33 holes (TH109 - TH141) for a total of 3007m. All holes were drilled at an inclination of -60° to a nominal depth of 100m and had varying directions depending on the strike of BIF stratigraphy.

These latest (and final) results from the Telecom Hill drilling program further emphasise the potential of the deposit and have expanded the mineralised zone to the west. The results support the aeromagnetic interpretation that suggests more mineralisation is likely to occur to the east and west.

The DSO drilling program at the Telecom Hill East target area shows a band of hematite-goethite enrichment occurs in one of the main BIF units within the Robinson Range Formation. The DSO mineralisation extends over a strike length of 1300m to a maximum known depth of 100m (down hole).

All holes were sampled at 1m intervals and analysed for a standard iron suite using fused disc XRF and LOI by TGA at ALS Laboratories in Perth. All assays for this program have now been received.

Program Results

The Telecom Hill East drilling program indicates the mineralised zone extends approximately 1300m to depths of up to 100m (down hole). The mineralisation occurs as massive hematite and goethite enrichment within the BIF and is most likely the result of a mixture of hypogene and supergene enrichment.

The mineralised zone appears to be conformable with the BIF stratigraphy and is open to the west and southeast (Figure 2). The best intercepts form recent results are displayed in Table 1. The mineralisation has mostly low alumina values and highly variable silica and phosphorus values. LOI values vary according to the relative quantities of hematite and goethite.

A number of key target areas have not been adequately tested to date due to heritage restrictions and difficult access due to steep topography. The mineralisation in the area of holes TH109-113 needs more work as these holes were drilled down dip to avoid heritage sites. These targets will form part of the next round of drilling to better define the DSO deposits in this area.

Now that all of the results have been received, modelling and JORC compliant mineral estimation work has commenced. Independent geological consultants CSA Global Pty Ltd are completing the work.

Peak Hill Iron Project History

In 2009, the Peak Hill Project JV partners recognised the potential of the Telecom Hill Deposit area to host significant tonnages of magnetite beneficiation feed ore (BFO), and since then they have undertaken a number of exploration programs to increase understanding of the deposits. In addition to the magnetite potential, a number of small DSO deposits have been investigated to compliment the magnetite project.

The JV partners have committed to the rapid evaluation of the prospect, which to date has included surface rockchip sampling; evaluation RC percussion drilling programs, aeromagnetic interpretation and a detailed geological mapping - all with positive results.

The Telecom Hill Prospect lies within Exploration Licence E52/1860. The principal target within the tenement is the Robinson Range Iron Formation, a sequence of interbedded BIF, granular iron formation (GIF), siltstone and shale. The iron formation stratigraphy forms a prominent ridge (Telecom Hill) that strikes approximately east-west within the tenement.

Drilling at the Telecom Hill Prospect to date has tested just 4km of the identified 10km strike length of the targeted area of iron mineralisation. Exploration data indicates substantial potential for delineation of additional mineralisation.

For the complete Padbury Mining announcement including: Table 1. Recent significant intercepts from Telecom Hill and Mt Padbury DSO RCP Programs, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-PDY-589986.pdf

Padbury Mining Limited
T: +61-8-6460-0250
F: +61-8-6460-0254
WWW: www.padburymining.com.au

Archer Exploration Limited (ASX:AXE) Share Purchase Plan Allotment and Return Cheques

newsroom@abnnewswire.net — Mon, 14 May 2012 13:47:00 GMT

As advised in the release to the ASX on 3 May 2012, the Archer Exploration Limited (ASX:AXE) Share Purchase Plan (SPP) was oversubscribed and closed early with applications received by mail postmarked 3 May 2012 or earlier, or BPay up to 6.00 pm on 3 May 2012 to be accepted. Application monies received after the close will be fully refunded.

Even though the SPP was closed early, there was a significant oversubscription and all valid applications received from entitled holders prior to the amended closing date will be scaled back. Successful applicants will receive approximately 70% of the number of shares applied for with the remaining application monies to be refunded.

The original Key Dates for the SPP have not changed and the maximum 5,000,000 shares to be issued under the SPP will be allotted on 16 May 2012. The Despatch Date for the confirmation of transaction and refund cheques will be mailed to applicants on 18 May 2012.

The Directors wish to thank all shareholders who have participated in the SPP for the continued confidence they have shown in the Company.

Archer Exploration Limited
T: +62-8-8272-3288
WWW: www.archerexploration.com.au

Indochine Mining Limited (ASX:IDC) Very High Gold and Silver Assays from Mt Kare, Papua New Guinea

newsroom@abnnewswire.net — Fri, 4 May 2012 10:03:00 GMT

Indochine Mining Limited (ASX:IDC) Intercepts Very High Grade Gold and Silver at Mt Kare, PNG. Large intercepts of very high grade gold/silver assays have been returned from the mineralised zones in a further 3 drillholes, and highlight the potential at Indochine Mining's (ASX:IDC) major gold/silver project at Mt Kare, in Papua New Guinea (PNG).

Best results include:

17.7 metres(m) at 100.3 grams/tonne(g/t) gold, 134 g/t silver from 59m, including
4 m at 420 g/t gold, 170 g/t silver from 67m, (Drillhole 122SD11; twinned hole);

in comparison to prior results of 34m at 7.2g/t gold in MK98-132
27 m at 3.1 g/t gold, 4.3 g/t silver from 77m, including
7 m at 6.5 g/t gold, 7.8 g/t silver from 85m, (Drillhole 125SD12; new hole);
16.9 m at 3.9 g/t gold, 20g/t silver from 19.1 g/t, including
8 m at 7.5 g/t gold, 21 g/t silver from 26m, and including
1 m at 50g/t gold, (Drillhole 127SD12; new hole).

Over 25 holes are pending assays, the results of which will be released when available.

The results above are mineralised intervals selected for metallurgical testwork in Perth. The currently unsampled portions of the holes are a lower priority, are expected to be less mineralised and not considered of consequence, and will be assayed in due course.

Additional results were received from the previously reported drillhole 126SD12, including:
23.2m at 2.0g/t gold, 33g/t silver from 26.8m,
16 m at 2.9g/t gold, 6g/t silver from 26.8m,
including 10 m at 4.4 g/t gold from 74m, and
21 m at 5.5 g/t gold, 625 g/t silver from 99m (Drillhole 122SD11; twinned hole).

Drillhole 122SD11 was designed to 'twin' a past hole, MK98-132, for metallurgical test work, while Drillholes 125SD12 and 127SD12 were within the mineralised zone identified for the pre-feasibility study (PFS), scheduled for completion in August 2012. No further significant results were received from Drillhole 123SD11, apart from the previously reported:

36.4 metres at 6.2 g/t gold, 232 g/t silver from 56.8m (Drillhole 123SD11).

Indochine Mining Limited is progressing one of the largest, near term gold projects in Papua New Guinea (PNG), the Mt Kare gold/silver deposit within EL1093 ('The Project'). The Project is located 15 kilometres from one of the world's Top 10 gold mines, Barrick's giant 28Moz Porgera gold mine, which has produced over 500,000 ounces of gold per year for 21 years. Mt Kare shares similar geology, ore types, structures and age of mineralisation to Porgera, which has significant infrastructure (road & power).

Mt Kare has the potential for a high grade, large open cut mine, operating at 125-150,000 ozs gold & silver per year, which is being investigated in the PFS. Ongoing drilling is anticipated to both improve the quality and increase the current resource. The Project is developing as one of the next major gold projects in PNG.

Commenting on the results, Indochine's CEO Stephen Promnitz said, "These results support our confidence in the potential of the Mt Kare gold/silver project. As each new drillhole comes in, our confidence is elevated further."

View the Full Release including tables and charts here:
http://media.abnnewswire.net/media/en/docs/ASX-IDC-677533.pdf

Indochine Mining Limited
T: +61-2-8246-7007
F: +61-2-8246-7005
WWW: www.indochinemining.com

Rum Jungle Resources Limited (ASX:RUM) RUM Webcast Karinga Creek Resource estimate

newsroom@abnnewswire.net — Fri, 4 May 2012 09:52:00 GMT

RUM JUNGLE RESOURCES LIMITED (ASX:RUM) has released a webcast with the following details:

Rum Jungle Karinga Creek Resource estimate
Speaker: David Muller, Managing Director
Live date: Wed, 4 May 2012 8.15am AEST

Access this webcast at:
http://www.brrmedia.com/event/97869

Rum Jungle Resources Limited
T: +61-8-8942-0385
F: +61-8-8942-0318
WWW: www.rumjungleresources.com.au