Anglo Australian Resources NL (ASX:AAR) Announce Drilling Results For Feysville Project Near Kalgoorlie Western Australia

Perth, Feb 3, 2011 AEST (ABN Newswire) - Anglo Australian Resources NL (ASX:AAR) (PINK:AAURF) is pleased to announce the results from its latest RC drilling program of 1,435m at the Feysville Project. Drilling targeted extensions of supergene mineralisation at Rogan Josh and possible extensions to the discovery intersection of 6m @ 9.08g/t Au at the Dalray prospect.

Significant results extend the extent of mineralisation at both prospects.

The Feysville Project, which consists of two mining leases located 16km SSE of Kalgoorlie, is situated in a geological/structural corridor, bounded by the Boulder Lefroy Fault, that hosts the world class plus million ounce deposits of Mt Charlotte, Fimiston, New Celebration, Victory-Defiance, Junction, Argo and Revenge/Belleisle of St Ives, as well as other deposits such as the 60,000oz Au Hannans South deposit (located 3km north of the Project).

Rogan Josh Deposit

The Rogan Josh deposit is hosted within a sequence of volcaniclastic sediments intruded by porphyries. It has strong geological affinities to the Hannans South deposit, which is largely a supergene gold deposit occurring within the Hannans South Shear Zone. Previous drilling by Anglo Australian Resources and Western Mining returned intersections such as 8m @ 3.3g/t Au; 2m @ 8.8g/t Au; 4m @ 5.39g/t Au; 3m @ 3.68g/t Au and 2m @ 14.34g/t Au from a sub-horizontal zone of supergene mineralisation. The zone, as defined by the 1g/t Au limit, is more than 700m long and 2-8m thick. The majority of the economic grades occur as supergene style, about 10 - 30m below the surface, beneath a zone of depletion. Moderate grade bedrock gold mineralisation within carbonate-sericite altered quartz feldspar porphyry has also been intersected (e.g. 4m @ 5.42g/t Au and 6m @ 8.24g/t Au).

In June 2010 a scoping study by BM Geological Services in conjunction with Minecomp concluded that the deposit contains an unclassified resource of 300,000t @ 2.3g/t Au (25,000oz Au), as the effective drill spacing of 60 x 20m and up to 80 x 20m was of insufficient density to warrant a JORC code resource classification.

Fourteen drillholes in the latest program addressed the drill density issue at Rogan Josh and tested potential southern extensions. Drilling within the central part of Rogan Josh intersected wide zones of sericite- carbonate altered quartz feldspar porphyry. However significant intersections generally correspond to the interface between weathered and unweathered rocks confirming supergene enhancement. The best intersection of 9m @ 2.14g/t Au inc. 2m @ 5.8g/t Au, which includes bedrock and supergene mineralisation sits within a high grade portion of the deposit. Other results are of the same order of previous drill campaigns e.g. 4m @ 1.65g/t Au; 1m @ 3.36g/t Au, and 1m @ 3.07g/t Au. The drilling has confirmed the continuity of mineralisation in sparsely drilled areas of the deposit. Drilling appears to have closed off the Rogan Josh mineralised zone to the south

Rogan Josh appears to be similar to the Hannans South deposit where gold grades are enhanced in the weathering profile as a sub-horizontal blanket overlying broad zones of generally low grade mineralisation in the underlying bedrock shear zone.

The Company will now re-estimate the Rogan Josh resource and re-evaluate the economics of mining the supergene mineralisation in a shallow open pit.

Dalray Deposit

The Dalray deposit is a zone of bedrock mineralisation that occurs beneath transported cover 1.7km to the south east of Rogan Josh. It was discovered by the Company in November 2009 when one hole intersected 6m @ 10.03g/t Au. Previous follow up programs intersected additional mineralisation including 6m @ 2.03g/t Au and 2m @ 3.53g/t Au.

Nine RC holes were drilled north and south of the discovery intersection testing interpreted strike of the bedrock and supergene mineralisation. Additional intersections were obtained up to 200m south of the discovery hole with best values of 3m @ 1.95g/t Au and 1m @ 3.19g/t Au. The trend of the mineralisation remains uncertain and the recent drilling is not a definitive test of the Dalray Prospect.

The mineralisation at Dalray remains open and additional drilling will be required to fully evaluate its potential.
For the complete Anglo Australian Resources NL announcement including table and location map, please refer to the following link:

http://www.abnnewswire.net/media/en/docs/65145-ASX-AAG-527594.pdf

Contact

Angus C. Pilmer Executive Director Tel: +61-8-9382-8822 Peter Komyshan General Manager Exploration Tel: +61-8-9382-8822 http://www.anglo.com.au