Summary of Projects

“ A discovery consists of seeing what everybody has seen, and thinking what nobody has thought. ” Albert von Szent-Gyorgyi (1893-1986), in Irving Good, The Scientist Speculates (1962).

Cortona Resources is an Australian gold explorer that listed on the ASX in March 2006. The Board of Directors includes three geologists who are acutely focused on resource growth and project development. Cortona maintains projects in NSW and WA, and approximately $3.5M cash at the time of writing.

Following successful exploration programs and project acquisitions, the Company now has a resource inventory of 366,300 ounces of gold and a range of exploration targets that offer considerable upside.

Since July 2007, Cortona’s principal focus has been the Majors Creek project in NSW, host to the State’s largest historic alluvial goldfield (approx. 1.25Moz). A $2M diamond and RC drilling program commenced in October 2007, and tested a range of targets including extensions to the Dargues Reef resource, and previously untested mineralised outcrops and IP targets at the Exeter Farm and Copper Ridge prospects. Cortona believes that the project has World Class potential.

The Dargues Reef Indicated and Inferred resource comprises 286,000 ounces (1.44Mt @ 6.2g/t Au) contained within 2m to 10m wide ‘sulphide lodes’ associated with quartz-sericite-carbonate-pyrite alteration of the host granodiorite. Quartz veining is often absent. The lode system has been drilled to approx. 500m vertical depth where it remains open.

Cortona’s first phase of drilling was designed both to test the extent of mineralisation within the upper 200m of the lode system, and upgrade the resource category. A new resource estimate (October 2008) has confirmed the strike extensions and almost doubled the original grade. A preliminary economic assessment is underway which will form the basis of a full feasibility study. The Dargues Reef deposit (286,000oz) remains open in all directions

The Company’s Western Australian projects include North Monger, situated approx. 45km from Kalgoorlie. Cortona has discovered and outlined a 53,500 ounce resource at Wombola Dam to add to the previously defined 26,800 ounces at Wombola Pit. Gold mineralisation is contained within 50m of the surface. The North Monger Project is subject to a off take mining agreement with Barrick (July 2007) where Cortona recieve a tonnage royalty based on the number of tonns mined. Barrick have agreed, subject to 6 months due diligence, to mine (a minimum of 300,000t), haul, process and manage all aspects of the operation. The agreement has the potential to provide Cortona with a cash flow while still maintaining exposure to any rise in the gold price.

Total Inferred Global Gold resources 2.305Mt @ 4.96g/t Au (366,300 oz)

North Monger also hosts a nickel laterite resource estimated at 30Mt grading 0.64%Ni. Recent metallurgical studies indicate the resource may be amenable to heap leaching.

A series of anomalous intersections from the May drilling at North Monger successfully highlighted the potential to extend the Black Hill Nickel laterite resource further south, possibly by as much as 1.6km.

The Companies principal objectives during 2008 are to firm up and improve existing resources with infill drilling at Dargues Reef and Wombola Dam whilst targeting outcropping mineralisation and other anomalous areas within our extensive tenement portfolio.

Cortona boasts a dynamic team of geologists operating from regional bases in both Orange and Perth. The Company is well funded and maintains a healthy resource inventory which is set to expand significantly during 2008-09.