Australian Market Report of February 21, 2011: Prima BioMed (ASX:PRR) To Commence Clinical Trial For Ovarian Cancer Immunotherapy Vaccine

Prima BioMed Limited (ASX:PRR) today announced that there has been an agreement for strategy and design of the Phrase III clinical trial for the CVac(TM) immunotherapy therapeutic ovarian cancer vaccine. The agreement comes after the European regulator, the European Medicines Agency advised that Scientific Advice for the Phase III trial had successfully been granted. Receiving Scientific Advice is a significant milestone in the timeline progression for CVac(TM)'s global registration. Prima can now move forward and begin preparations for patient enrolment into the trial. If the trial is successful, CVac(TM) will become the world's first ovarian cancer immunotherapy treatment.

Redstone Resources Limited (ASX:RDS) reported further significant assay results from recent reverse circulation drilling at its 100% owned Tollu copper project in Western Australia. Copper sulphide mineralisation has been extended to over 200m strike length and to a depth of 253m, highlighting the potential to increase the size of the mineralised body. Further drilling is scheduled to commence in May 2011 to extend the current mineralisations and test other Cu-rich areas.

Western Desert Resources Limited (ASX:WDR) today reported that assay results from drilling at its Roper Bar Iron Ore Project in the Northern Territory have identified further high grade direct shipping iron ore. Five holes recoded intersections with grades greater than 60% Fe. Iron ore mineralization extends over 1200 metres strike length. The Company will continue to assess the area's potential for commercial mining operations.

Canyon Resources Limited (ASX:CAY) has accelerated its exploration programme on its gold projects in Burkina Faso, following the discovery of several new prospects on its recently acquired permits. Since late November 2010, the Company has drilled 6,616 meters and taken over 1,300 samples with highest grades up to 6.16 g/t Au. The Company is to commence its maiden reverse circulation drill programme in late March or early April 2011.


Related Companies

Western Desert Resources Ltd
            

Redstone Resources Limited
            

Prima Biomed Ltd
            

Canyon Resources Limited