Kagara Limited

Kagara Limited (ASX:KZL) have completed over three quarters of a 25 hole diamond drilling programme at the Baal Gammon copper mine, the purpose of which is to confirm various aspects of the existing resource model and assist with their metallurgical assessment.

Kagara Limited (ASX:KZL) is pleased to announce an updated independently calculated ore resource for the Lounge Lizard deposit at Forrestania, Western Australia.

Kagara Limited (ASX:KZL) says today that the current reconnaissance exploration drilling programme along the Redcap Morrisons thrust zone at Chillagoe, north-east Queensland, is realising the potential of the zone to host high-grade skarnassociated zinc-rich mineralisation indicated by previous sparse drilling. To date, 29 holes have been completed during the current programme with 24 of these testing the thrust zone mineralisation.

Kagara Limited (ASX:KZL) ("Kagara" or "the Company") today announced an underlying net profit after tax (excluding non-recurring items) of $2.1 million for the 12 months to 30 June 2011. As a result of a total pre-tax impairment charge of $48.5 million including a write-down in the carrying value of some mining assets and resources, the Company reported a net loss after tax for the year of $32.2 million.

Kagara Limited (ASX:KZL) announces that Mark Ashley has advised he is stepping down from his position as a Director of the Company, effective today.

Kagara Limited (ASX:KZL) is pleased to provide an update on the results of an ongoing review of its 100%-owned Forrestania Nickel Project in Western Australia, including the Lounge Lizard nickel deposit.

Kagara Limited (ASX:KZL) is pleased to announce the appointment of highly experienced mining executive Evan Spencer to the role of Chief Operating Officer. Mr Spencer will replace Graeme Collins, who after nine years with Kagara has made the decision to step down from the role to focus on new career opportunities.

Kagara Limited (ASX:KZL) provides Quarterly Activities Report ended June 2011. The June 2011 Quarter marked a significant turning point in Kagara's recent history, with the commencement of a range of business improvement initiatives across the Company and the first concerted ramp-up in exploration activity since before the Global Financial Crisis.

Kagara Limited (ASX:KZL) advises that it has submitted a proposal to Copper Strike Limited (ASX:CSE) to acquire CSE's Einasleigh Copper Project in North Queensland.

Kagara Limited releases the following letter to Copper Strike (ASX:CSE)shareholders regarding the proposed transaction with Jintai and Taifeng.