1.0 highlights

• Silver powder production increased 98% to 2,820kg (approximately 73,000oz contained silver) in the quarter.

• A process to upgrade the raw silver powder product was successfully trialed and commercial treatment of powder initiated.

• A contract was awarded for the “stand alone” crushing of 100,000 tonnes of ore to <20mm over about four months as feed for the existing final stage crusher.

• A new General Manager, Mr Ian Gibson was appointed and will be based at the Twin Hills mine. Mr Gibson holds a Bachelor of Mechanical Engineering, a Master of Business Management and has over 20 years management experience.

• Recent drilling at Mt Gunyan has intersected some zones of high grade mineralisation, in particular 10m @ 133 g/t silver including 2m at 427g/t silver.

• Rock chip samples from the Rivertree (Malachite JV) tenement returned up to 1,660g/t silver, 8.19g/t gold and 13.55% lead.

• The entitlements issue offer, dated 20 December 2007, closed on 20 February 2008.  17,791,943 shares and 8,895,941 free attaching options were issued, raising a total of $3.55 million.

• The second and final tranche of Convertible Note funding, announced on 19 September 2007, of $4,709,669 was received on 7 February 2008.

• This month has seen both silver and gold at 27 year highs.

 

2.0 TEXAS SILVER MINES PTY LTD

The Texas Project (EPMs 8854, 11455, and 12858; ML 5932 and ML 50161) is located 100km west of Stanthorpe.  Texas Silver Mines Pty Ltd is a wholly owned subsidiary of Macmin Silver Ltd

2.1       Twin Hills (ML 50161) - Development & Production Activities Summary

 2.1.1 Silver Production & Sales

Silver production increased significantly during the quarter to approximately 73,000oz.  Sales of 650kg of powder (17,000oz contained silver) were made during the quarter.

2.1.2. Improvements to operating procedures and throughput continued in the Crushing Circuit pending the Stage 1 upgrade.

2.1.3  Construction of the components for the first module of Merrill Crowe silver extraction capacity was completed. The components were prepared for shipment  to site for erection and commissioning

2.1.4    Electrowinning

As noted on 4 April 2008, some cells in the plant have developed excessive electrical resistance and require replacement anodes.  One batch of anodes has been received and installed and others are on order.  The plant has continued to satisfactorily produce silver powder.

The mine production statistics for the quarter are as follows:

A total of 421,000 tonnes was mined as follows:

• Ore                                     199,000 tonnes
• Low grade stockpile         84,000 tonnes
• Waste                                138,000 tonnes

There is 110,0000 tonnes of ore on the stockpile ready for crushing.

 

3.0 current update      

3.1       Crushing
Yesterday the supplier for the first stage upgrade of the crushing circuit  (Pac-Rim (Qld) Pty Ltd) advised that as a result of a number of design changes agreed with the Company during construction and “also as a result of acute shortages of appropriate engineering resources”, the contractor is running behind the original schedule for completion of the plant erection on site.

The contractor now advises that delivery, erection and assembly should commence early June and should be completed by the end of June. That would be followed by approximately a week of electrical connection work and then commissioning.

The separate contract awarded to another contractor for stand alone crushing of 100,000 tonnes of ore to <20mm will provide additional feed for the final stage of the existing circuit.

3.2       Silver Powder
A further shipment of approximately 1,850kg of silver powder (48,000oz contained silver) will be forwarded to Melbourne this week for upgrading. The total consigned to Melbourne to date for processing is 4,850kg (126,000oz contained silver). The first 1,000kg of powder has been upgraded and will be smelted and then converted to bullion for sale. It is intended that powder which is not sold in raw form direct from the mine will continue to be converted to bullion for sale pending development of markets for the powder.

 

4.0       EXPLORATION

            4.1       Mt Gunyan Prospect

The Mt Gunyan prospect is situated within 3km of the Twin Hills Silver Mine, near Texas in South-East Queensland.

Recent drilling has intersected some zones of high grade mineralisation, in particular MGP270 10m at 133g/t silver including 2m at 427g/t silver which has increased the potential of the ‘Northern Pod’ mineralisation.  The ‘Northern Pod’ is also open to the east and to depth, and on going drilling will target extensions in these areas.

Results from drilling undertaken in 2007 and 2008 along with historical drilling results will be used to construct a resource model and allow an updated resource estimate to be calculated.  It is anticipated that this resource estimate (for the shallow mineralisation) will be completed during the July-September quarter.

TABLE 1 –Drill Results

Hole No	Interval	Length	Silver	Au	Lead	Zinc
	From To (m)	(m)	g/t	g/t	(%)	(%)
MGP261	10 – 32	22	28	-	0.05	0.12
	44 - 50	6	30	-	0.13	0.16
MGP262	No Significant	-	-	-	-	-
	Intercepts
MGP263	8 - 20	12	29	0.05	0.16	0.09
	34 - 40	6	49	0.22	0.41	0.16
	Including 34-36	2	112	0.58	0.75	0.13
MGP264	2 - 6	4	72	0.02	0.10	0.05
	Including 4-6	2	118	0.02	0.17	0.05
	26 - 40	14	26	0.04	0.17	0.08
MGP265	42 - 44	2	32	0.02	0.62	0.07
MGP266	8 - 16	8	28	-	0.08	0.03
	24 - 26	2	30	0.01	0.06	0.07
MGP269	0 - 2	2	144	0.01	0.32	0.03
	12 - 14	2	30	-	0.10	0.05
	18 - 24	6	29	-	0.11	0.05
MGP270	30 - 40	10	133	0.05	0.09	0.09
	Including 30–32	2	427	0.10	0.11	0.08
MGP271	2 - 4	2	33	0.10	0.08	0.06
	42 - 44	2	36	0.02	0.06	0.12
	58 - 60 eoh	2	2.8	0.12	-	0.02

TABLE 2 – Hole locations for Table 1 data

Hole No	Northing	Easting	Easting	Northing	RL	Depth	DIP	AZI	AZI
	Local Grid	Local Grid	MGA	MGA		(m)		MAG	Local Grid
MGP261	5246	5619	333136	6809438	582	60	-90	0	0
MGP262	5119	5604	333010	6809406	581	60	-90	0	0
MGP263	5095	5601	332986	6809409	580	60	-90	0	0
MGP264	5175	5878	333033	6809687	552	60	-90	0	0
MGP265	5081	5782	332950	6809580	552	60	-90	0	0
MGP266	5068	5757	332940	6809553	553	60	-90	0	0
MGP269	5057	5731	332932	6809525	551	60	-90	0	0
MGP270	5317	5928	333168	6809755	546	60	-60	75	90
MGP271	5293	5932	333144	6809756	556	60	-60	75	90

4.2       Boonoo Boonoo Project

Macmin has decided to drop this project from the Malachite joint venture.  In the coming months Macmin will complete all statutory requirements (report writing, environmental audit, etc) as required and pass this information to Malachite (along with all data) as they are the registered holder of the EL.  The tenement is currently in good standing.

4.4       Rivertree Project

Follow up drainage and rock chip sampling undertaken in the newly identified region located in the south-west of the tenement (where an earlier stream sediment sample returned a very anomalous result of 256ppb gold) has returned encouraging results.  One drainage sample up stream from the ‘discovery’ sample has returned an anomalous value of 55ppb gold, while a rock chip sample collected from within this drainage system has returned a best result of 969g/t silver and 0.34g/t gold.

A program of ridge and spur soil sampling and rock chip sampling has been completed in the north-east portion of the tenement, primarily focusing within the area between and around the known workings of Big Block and The Philippines.  The ridge and spur sampling has identified a zone approximately 350m wide associated with some of Philippines workings (Figure 1), outlining an area approximately 700m long and 350m wide where further exploration, probably including drilling needs to be undertaken.

Rock chip samples collected as part of this programme have identified a new region, where there are no historic workings, located to the west of The Philippines workings and to the north-east of the Big Block workings.  Two rock chip samples (100271 and 100272) have returned anomalous gold and silver values with a best gold result of 2.48g/t and a best silver result of 671g/t.  Further follow-up of this new area will be undertaken in the near future.

 

Sample Number	Location	Datum/ Zone	Northing	Easting	Silver (g/t)	Gold (g/t)	Copper (%)	Lead (%)	Zinc (%)
100264	New Area	GDA/MGA56	6830005	429456	60	0.20	-	0.04	-
100265	New Area	GDA/MGA56	6829839	429182	969	0.34	-	0.47	-
100266	New Area	GDA/MGA56	6830017	429197	5.9	0.12	-	-	-
100269	New Area	GDA/MGA56	6834671	432402	121	0.13	-	0.99	0.01
100270	New Area	GDA/MGA56	6834660	432457	71	0.36	0.01	0.80	0.01
100271	New Area	GDA/MGA56	6834657	433214	6.0	2.48	-	0.05	-
100272	New Area	GDA/MGA56	6834300	433901	671	1.43	0.04	2.71	0.09
100273	New Area	GDA/MGA56	6834679	432415	19.1	1.34	0.01	0.19	0.04

4.5       Tally Ho Prospect

The following information was presented in an ASX release yesterday.

Earthworks, comprising track and pad construction and the associated cultural heritage clearance will begin next week to provide access for the next phase of drilling on the Tally Ho Project.

A contract for 3,000m of Reverse Circulation (RC) drilling was awarded to Aqua Drilling of Melbourne, to commence drilling at the beginning of June.

The aim of the drilling is to test at least five new targeted areas that have been generated by the recently completed soil geochemical and rock sampling programmes (Figure 2).  This recently investigated area comprises 1.5km by 1.5km and has revealed mineralised breccia zones and basemetal and precious metal anomalism extending off the margins of the area.  One of the target areas to be drilled occurs in the south-west corner of the area (approximately 750m south-west of the initial drill area) where rock chip sampling of 2 breccia outcrops (75m apart) produced results of 8m at 14g/t silver, 0.94g/t gold and 4m at 22g/t silver and 1.57g/t gold.  These are the first outcrops where gold has been found associated with silver and base metals in surface outcrops.

Groundwork EMS Pty Ltd, the resource consultancy contracted to complete a reserve estimate at Tally Ho, has advised that it is unable to complete the resource modeling in the agreed timeframe due to serious health issues associated with their resource consultant.  Macmin sincerely regrets this delay in completing the Tally Ho resource estimate but unfortunately the delay is completely out of our control.  Macmin has appointed F.J. Hughes and Associates to undertake this resource estimation work.  Based on the consultant’s advice we expect to be able to announce this estimate in June.

Drill Sampling & Assaying Details

Sampling of percussion holes was undertaken over the full length of each hole on a 2 metre interval basis.  Sampling of Diamond Core was undertaken over mineralised and altered zones, sample intervals were determined from geological intervals.  In broad zones of alteration 2 metre intervals were selected.

As part of the Company’s quality control programme, a duplicate sample is collected about every 20 samples and submitted under a different sample number providing a check on repeatability.

Assaying is carried out by ALS Chemex in Brisbane using the ICP technique for silver, copper, lead, zinc, arsenic and antimony.  Gold is assayed by the ICPMS technique.

Drill holes Collars have been located with a hand-held Garmin GPS unit.  Down hole surveys are recorded with an Eastman style single shot camera.

Stream, Soil &  Rock  Sampling & Assaying Details

Stream sediment samples consist of approximately 100g of 180µm collected from the fine silt fraction of the active drainage.
Soil samples consist of approximately 100g of -2mm (Texas Project), -1mm (Rivertree Project) or -180µm (Tally Ho Project) material collected from below the humic layer.
Rock samples are typically 1-2kg in size.

Assaying is carried out by ALS Chemex in Brisbane using an aqua regia digest which is analysed with the ICP technique for silver, copper, lead, zinc, arsenic and antimony and analysed by the ICPMS technique for Gold.

 

5.0       CORPORATE

The entitlements issue offer, dated 20 December 2007, closed on 20 February 2008.  17,791,943 shares and 8,895,941 free attaching options were issued, raising a total of $3.55 million.

No directors have any Macmin shares exposed by way of margin accounts or financing arrangements.
The second and final tranche of Convertible Note funding, announced on 19 September 2007, of $4,709,669 was received on 7 February 2008.

 

6.0       INVESTMENTS

Macmin maintains equity investments in the following public companies with exposure to the precious and base metals sectors.  Information and releases about these companies’ activities can be found on each company’s website.

Company	Shares	Market Value 31 Mar 2008
New Guinea Gold Corporation (TSX) www.newguineagold.ca	17,847,020	$7,999,253
Malachite Resources NL www.malachite.com.au	1,500,000	$270,000
Frontier Resources Ltd  www.frontierresources.com.au	5,425,000	$569,625

 

7.0       NEW GUINEA GOLD

New Guinea Gold Corporation (11.4% Macmin) continued with exploration, mine development and gold production during the quarter.  Press releases by NGG are available at www.newguineagold.ca. 

A list of the most significant press releases from NGG since the last quarterly report are attached at Appendix B.

Macmin Silver Ltd (Macmin) is a silver focused company whose primary projects are the Texas Silver Project, S.E. Queensland, Australia where the Twin Hills Silver Mine is located and the Tally Ho and Mt Scott Projects near Mackay, Central Queensland.  Macmin has exposure to gold by way of an 11.4% equity in New Guinea Gold Corporation (NGG) and a 1% NSR royalty on production by NGG.  In addition, Macmin maintains equity investments in junior Australian explorers, Malachite Resources NL and Frontier Resources Ltd.

Garry Edwards
CHIEF EXECUTIVE OFFICER

The information in this report that relates to Exploration Results is based on information compiled by Denis O’Neill, who is a Member of The Australasian Institute of Mining and Metallurgy.  Denis O’Neill is employed by Macmin Silver Ltd.
Denis O’Neill has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.  Denis O’Neill consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

 

4th April 2008

HIGHER SILVER PRODUCTION AND SILVER POWDER UPGRADED

 Silver Powder
Production of silver powder from the Twin Hills Mine at Texas, Queensland, for the quarter to March was the highest to date, at 2,820kg (containing approx 73,000oz of silver) (December 2007 Quarter 48,000oz).

In January the Company announced that it was investigating processes to upgrade the silver powder product to widen its market appeal. A successful trial has now been completed in Melbourne which has removed most of the impurities. Marketing and smelting trials of the upgraded powder will now be undertaken and approximately 3,000kg of raw powder (approx. 78,000oz contained silver) will be shipped to Melbourne to undergo the same upgrade process. Marketing and Product Development Manager, Bill Guthrie, noted that the upgrade of the powder opens up much greater marketing avenues for the Twin Hills production. Cost of the powder upgrade process is estimated at approximately 2% of the silver content value.

Sales of powder in raw form continue, with orders for 800kg of powder (approximately 21,000oz contained silver) currently being prepared for consignment.

Electrowinning
Over the past month some cells in the electrowinning (EMEW) plant have developed excessive electrical resistance, possibly due to alteration of the anode coating material. About 20% of the electrowinning (EMEW) plant has been temporarily taken out of circuit pending receipt of replacement anodes. Tests are being undertaken to determine the cause of the change in cell resistance levels. The coating on the anodes has a finite life and re-coating is required periodically, but the unexpected change in the affected cells at this stage has possibly been a result of commissioning variables rather than normal operation.

Crushing Circuit
Crushing and stacking of ore for leaching also reached the highest level to date in March following the introduction of seven day crushing operations. Crushing rates are still below target but further improvements to operating and maintenance procedures are expected to increase output from the existing circuit prior to the installation of additional screening capacity. Current indications from the contractor are that the additional screening capacity will be delivered to site in May with commissioning late May and early June.

Merrill Crowe Plant
The first module of Merrill Crowe extraction capacity was delivered to site this week and is expected to be assembled and ready to commence commissioning by the end of April. As advised in earlier announcements, the Merrill Crowe plant will have the ability to treat lower grade solutions than the EMEW plant and will extract silver to lower levels in the solutions than is efficient for the EMEW plant to achieve. The combination of Merrill Crowe extraction with the existing EMEW plant will provide two alternative products while maximizing silver production. 

Tally Ho Project Resource Estimate
The independent initial Resource Estimate for the Company’s Tally Ho Project near Mackay is substantially complete and is expected to be available for release within two weeks following a review.

Opes Prime
In light of the publicity surrounding the collapse of Opes Prime Stockbroking (OPES), the Company wishes to advise that no interest in Macmin shares or options are held under any margin lending facilities by Macmin Directors.

Based on information obtained from the Receiver and Manager of OPES, less than 0.01% of Macmin’s securities on issue were the subject of agreements between OPES and its customers.    

 

12th February 2008

 

ROCK CHIP SAMPLES TO 1,660g/t SILVER, 8.19g/t GOLD AND 13.55% LEAD AT RIVERTREE

• Strongly anomalous gold stream sediment value of 256ppb to be followed up over the coming months.

• Rock chip samples returned best result of 1,660g/t silver, 13.55% lead and 3.1% zinc at the Phoenix North workings and best gold result of 8.19g/t on the Phillipines Lode.

Rivertree is located in northern NSW, Australia and forms part of a joint venture between Macmin (75%) and Malachite Resources NL (25%).

Stream Sampling

Results from the stream sediment sampling programme completed late last year have recently been received.  The results highlight a north-east trending zone approximately 3km wide and 8km long of coincident metal anomalism associated with the historic lodes and workings of the Rivertree mineral field.  Areas outside of this zone have returned low order metal values.

One stream on the southern margin of the northeast trending zone, which drains an area of no known historic workings has returned a very anomalous gold result of 256ppb (the next highest gold result being 61ppb coming from an area of historic workings).  Within the dataset gold values greater than 10ppb are considered to be highly anomalous, and have only been returned (other than the above discussed sample) from streams which drain areas of known historic workings.

Follow-up stream sediment sampling, rock chip sampling and prospecting will be undertaken in this area over the coming months.

Rock Sampling

As part of the above stream sediment sampling programme, a number of rock chip samples were also collected; some from historic workings/lodes and others from previously un-sampled areas.  The best results are displayed in Table 1, with the best silver result of 1660g/t coming from the Phoenix North workings and the best gold result of 8.19g/t coming from the Phillipines Lode.

Table 1: Rock chip samples with Silver values >30g/t and Gold values >0.5g/t.

Sample Number	Prospect Name	Datum/Zone	Northing	Easting	Silver (g/t)	Gold (g/t)	Copper (%)	Lead (%)	Zinc (%)
100206	Phillipines	GDA94/MGA56	6834056	433761	224	8.19	0.13	3.60	3.05
100207	Phillipines	GDA94/MGA56	6834081	433777	50	3.62	0.08	0.36	2.06
100208	Phillipines	GDA94/MGA56	6834129	433881	576	5.19	0.05	0.17	0.01
100209	Phillipines	GDA94/MGA56	6834138	433875	404	7.12	0.04	3.44	0.03
100210	Phillipines	GDA94/MGA56	6834147	433909	444	5.24	0.03	1.83	0.70
100211	Phillipines	GDA94/MGA56	6834138	433875	105	1.60	0.01	0.48	0.04
100212	Phoenix Nth	GDA94/MGA56	6832508	429768	701	5.07	0.08	5.15	1.37
100213	Phoenix Nth	GDA94/MGA56	6832508	429768	1660	0.53	0.03	13.55	3.11
100214	Phoenix	GDA94/MGA56	6832313	429589	40	0.34	<0.01	0.23	0.03
100215	Phoenix	GDA94/MGA56	6831967	429718	175	0.55	<0.01	0.71	0.01
100222	Un Named	GDA94/MGA56	6834954	432613	29	0.72	0.04	0.31	0.11
100225	Un Named	GDA94/MGA56	6833270	431392	34	0.29	0.02	0.07	0.25
100227	Un Named	GDA94/MGA56	6834874	429498	82	0.21	0.02	2.05	0.01
100228	Un Named	GDA94/MGA56	6834859	429463	144	0.53	0.02	1.38	0.03
100232	Un Named	GDA94/MGA56	6831967	429718	67	0.48	0.01	0.31	<0.01

There are at least 8 workings/diggings, over a strike length of 700m associated with the Phillipines Lode. All samples from these have returned very encouraging silver and gold values, with some samples also showing strong zinc and lead values (samples numbers 100206, 100207, 100209 & 100210).

One sample collected from the Phoenix North workings has returned an extremely strong silver value of 1660g/t, with a second sample returning strong values for both silver (701g/t) and gold (5.07g/t).

In the coming months further prospecting and mapping of these areas will be undertaken with the view to drill test these prospects and the Big Block prospect.

 

11th February

 

PROSPECTIVE AREA AT TALLY HO SUBSTANTIALLY ENHANCED

• Drilled area at Tally Ho less than 5% of prospective area as defined by soil sampling.
• Resource estimate at Tally Ho to be completed by end of March 2008.
• Surface rock samples from 750m south-west of Tally Ho give similar assay results to Tally Ho.

Macmin Silver Ltd has recently engaged Groundwork EMS Pty Ltd, a resource consultancy based in Brisbane, to complete a resource estimate at our Tally Ho Project.  This work will utilise drilling data generated from our programmes completed in 2006/2007 [Figure 1].  Groundwork EMS Pty Ltd has given an undertaking to have this work completed by the end of March 2008 and will employ suitably qualified staff to complete the resource estimate in accordance with the guidelines of the JORC Code (2004).

It should be pointed out that the area on which the resource estimation will be conducted only represents a small portion of the total area which has been subjected to the recent soil sampling and mapping (ASX release dated 16 January 2008).  The geochemical survey and mapping have significantly expanded the prospective area of interest and identified additional zones of coincident metal anomalism of similar magnitude to that seen over the central Tally Ho prospect (the area drilled to date) thus providing drill targets to be drill tested once the wet season has abated.

Recently received rock chip results from newly identified outcrops of breccia have also returned some very encouraging results. Table 1 displays results of rock chip samples with greater than 1g/t silver.  Samples (650977, 650978, 650981 & 650982) collected 750m south-west of the drill area have similar magnitude silver values but much stronger gold values (up to 2.58g/t gold) to that seen in samples returned from the central Tally Ho prospect area.

This area along with a number of coincident soil anomalies, as mentioned above will be drill tested once the wet season is over.  Additional mapping, soil sampling and rock chip sampling will also be carried out beyond the area sampled and mapped to date.

TABLE 1 : Rock chip samples with silver values greater than 1 g/t

Sample Number	Comments	Datum/Zone	Easting	Northing	Silver (g/t)	Gold (g/t)	Copper (ppm)	Lead (ppm)	Zinc (ppm)
650885	Central Tally Ho prospect	GDA94/MGA55	688728	7632740	38	0.10	516	3630	31
650886	Central Tally Ho prospect	GDA94/MGA55	688730	7632739	30	0.03	206	2210	28
650887	Central Tally Ho prospect	GDA94/MGA55	688732	7632738	19	0.02	81	952	16
650888	Central Tally Ho prospect	GDA94/MGA55	688733	7632737	7	0.01	146	1320	21
650889	Central Tally Ho prospect	GDA94/MGA55	688735	7632736	16	0.04	90	866	17
650890	Central Tally Ho prospect	GDA94/MGA55	688758	7632778	14	0.04	140	1885	165
650891	Central Tally Ho prospect	GDA94/MGA55	688760	7632777	11	0.13	180	1030	24
650892	Central Tally Ho prospect	GDA94/MGA55	688761	7632776	13	0.02	154	1270	22
650893	Central Tally Ho prospect	GDA94/MGA55	688763	7632775	17	0.01	113	1175	17
650894	Central Tally Ho prospect	GDA94/MGA55	688765	7632773	17	0.03	167	1730	27
650900	Central Tally Ho prospect	GDA94/MGA55	688819	7632868	53	0.03	113	734	46
650901	Central Tally Ho prospect	GDA94/MGA55	688821	7632868	24	0.02	179	754	39
650902	Central Tally Ho prospect	GDA94/MGA55	688823	7632867	13	0.01	114	878	29
650903	Central Tally Ho prospect	GDA94/MGA55	688824	7632866	37	0.01	186	1015	41
650904	Central Tally Ho prospect	GDA94/MGA55	688826	7632866	59	0.04	95	1040	27
650905	Central Tally Ho prospect	GDA94/MGA55	688828	7632865	21	0.04	73	978	31
650906	Central Tally Ho prospect	GDA94/MGA55	688862	7632866	16	0.01	64	260	26
650907	Central Tally Ho prospect	GDA94/MGA55	688862	7632868	17	0.01	70	449	26
650908	Central Tally Ho prospect	GDA94/MGA55	688863	7632870	18	-0.01	71	625	37
650909	Central Tally Ho prospect	GDA94/MGA55	688864	7632872	54	0.01	97	761	30
650910	Central Tally Ho prospect	GDA94/MGA55	688864	7632874	14	0.01	93	376	33
650912	Central Tally Ho prospect	GDA94/MGA55	688770	7632846	1	0.15	90	26	57
650931	Newly mapped breccia	GDA94/MGA55	689240	7632884	1	-0.01	35	50	127
650932	Newly mapped breccia	GDA94/MGA55	689241	7632882	2	0.02	40	267	186
650933	Newly mapped breccia	GDA94/MGA55	689241	7632880	4	0.01	30	173	245
650953	Newly mapped breccia	GDA94/MGA55	689087	7633004	1	-0.01	26	31	60
650965	Newly mapped breccia	GDA94/MGA55	689125	7632996	1	0.01	39	43	50
650970	Newly mapped breccia	GDA94/MGA55	689069	7633013	3	0.01	37	11	44
650971	Newly mapped breccia	GDA94/MGA55	688515	7632222	4	0.10	112	298	276
650972	Newly mapped breccia	GDA94/MGA55	688517	7632222	4	0.21	90	260	233
650973	Newly mapped breccia	GDA94/MGA55	688519	7632223	2	0.04	74	290	143

650974	Newly mapped breccia	GDA94/MGA55	688518	7632213	5	0.13	23	95	106
650975	Newly mapped breccia	GDA94/MGA55	688520	7632214	4	0.09	72	115	155
650977	Newly mapped breccia	GDA94/MGA55	688516	7632198	14	0.98	306	4000	154
650978	Newly mapped breccia	GDA94/MGA55	688518	7632199	37	2.58	440	3800	166
650979	Newly mapped breccia	GDA94/MGA55	688520	7632200	2	0.03	176	36	288
650980	Newly mapped breccia	GDA94/MGA55	688521	7632200	3	0.16	180	52	226
650981	Newly mapped breccia	GDA94/MGA55	688576	7632145	32	1.88	650	604	325
650982	Newly mapped breccia	GDA94/MGA55	688578	7632146	13	1.26	779	503	260
651015	Newly mapped breccia	GDA94/MGA55	688840	7633208	1	0.02	3	84	11
651016	Newly mapped breccia	GDA94/MGA55	688841	7633208	1	0.02	4	50	24
651017	Newly mapped breccia	GDA94/MGA55	688843	7633207	1	0.02	9	76	8

Rock  Sampling & Assaying Details

Rock samples are typically 1-2kg in size.

Assaying is carried out by ALS Chemex in Brisbane using an aqua regia digest which is analysed with the ICP technique for silver, copper, lead, zinc, arsenic and antimony and analysed by the ICPMS technique for Gold

 

1st February 2008

NEW GUINEA GOLD ANNOUNCES AUSTRALIAN LISTING OF COPPERMOLY LTD

 

 

1st February 2008

2007 DRILLING EXPANDS STRIKE LENGTH OF MAIN IMWAUNA VEIN SYSTEM TO 1,600M WITH INTERSECTION OF 2.4M AT 13.17g/t GOLD IN SOUTHERNMOST DRILL HOLE

 

 

4th February 2008

302oz GOLD PRODUCED IN JANUARY AT SINIVIT MINE, PAPUA NEW GUINEA

 

 

22nd February 2008

NEW GUINEA GOLD ANNOUNCES EXERCISE OF FEBRUARY 2008 WARRANTS

 

 

8th April 2008

COMMERCIAL GOLD PRODUCTION COMMENCES AT SINIVIT
NI 43-101 REPORT WITH NEW RESOURCE ESTIMATE FOR IMWAUNA ON TRACK FOR PUBLICATION IN AUGUST 2008

 

 

23rd April 2008

ANALYSIS OF DRILL RESULTS INDICATES ADDITIONAL HIGH GRADE GOLD POTENTIAL AT DEPTH AT IMWAUNA