Background information on MLS 150 and MLS 151

Abstract

The White Range Waste Dump Project is located approximately 180 km north east of Alice Springs, Northern Territory. It is covered by MLS 150 and MLS 151, held in the name of Intermin Resources Ltd. MLS 150 and MLS 151 were acquired from Arltunga Pty Ltd on 14 July 2006 and transferred to Intermin Resources Ltd. White Range Mining NL commenced gold production at White Range in March 1990 and ceased operations approximately 12 months later. The White Range heap leach project is based on gold recovery from some 2Mt of waste rock at grades from 0.6 to 0.8g/t gold via heap leaching - carbon adsorption techniques. The low grade resource resulted from mining operations conducted at the site during the period 1990-1992. March Quarter 2008: Production figures available. Gold produced and sold during the March 2008 quarter was 214oz, realizing A$235,457. Screening and stacking operations at White Range were completed during the September 2007 quarter and cyanide leaching continued until the last week of this quarter. Currently, the heap leach stacks are being flushed with water to recover soluble gold and wash out any residual cyanide and heavy metal contaminants prior to contouring and rehabilitation. Recovery of gold in the circuit is also being undertaken prior to site clean up which will follow in the June quarter. Intermin Resources expects to cease all gold recovery operations at White Range site around the end of June 2008. Intermin has received several expressions of interest regarding purchase of the +20mm screen oversize and the -20mm heap leach materials which have resulted from the Company's operations at White Range. Offers are currently being considered prior to the final rehabilitation exercise being undertaken. Annual production figures back to December 2002 are given.