North Monger – East Kalgoorlie Project

Wombola Pit An Inferred/indicated resource estimated at 304,000t @ 2.7g/t Au for 26,800 ozs (August 2006) has been defined along strike and beneath the existing pit at Wombola. The resource remains open to the south and east.

A recent 30 drill hole RC drilling programme (1,800m) significantly added to the resource potential, but failed to close off the mineralisation to the south and east.

Additional drilling is planned to follow up and close off the defined mineralisation. Previously announced significant intersections within the Wombola Pit resource include:

• 1m @ 37.8g/t Au from 20m in WPC008
• 3m @ 6.49g/t Au from 12m in WPC01
• 7m @ 4.08g/t Au from 5m in WPC013
• 4m @ 13.0g/t Au from 80m in WPC022

Wombola Dam An Indicated/inferred resource estimate of 557,000t @ 3.0g/t for 53,500oz of gold (November 2007) has been defined at Wombola Dam, 90% of the resource is positioned within 50m of the surface.

Additional drilling, on 25m centres, designed “firm up” the mineralisation, within the Wombola Dam resource was completed in October 2007. The programme also tested the eastern and southern mineralisation extensions. Numerous ore grade intersections were returned from the latest phase of drilling. Assay results including 2m @ 22.4g/t Au from 9m and 5m @ 8.6 g/t Au from 26m will be included in the new revised resource estimate.

Previously announced significant intersections within the Wombola Dam resource include:

• 4m @ 26.3g/t Au from 24m in WDC068
• 1m @ 26.2g/t Au from 39m in WDC054
• 2m @ 21.2g/t Au from 28m in WDC056
• 3m @ 16.4g/t Au from 2m in WDC015
• 3m @ 9.03g/t Au from 22m in WDC058
• 2m @ 16.9g/t Au from 8m in WDC010
• 2m @ 25.6g/t Au from 5m in WDC126
• 2m @ 7.2g/t Au from 15m in WDC128
• 1m @19.4g/t Au from 8m in WDC129
• 2m @ 22.4g/t Au from 9m in WDC140
• 5m @ 5.8g/t Au from 16m and 5m @ 8.6g/t Au from 26m in WDC134
• 2m @ 14.58g/t Au from 47m in WDC168
• 2m @12.2g/t Au from 6m in WDC174

The revised Wombola Dam resource together with the existing Wombola Pit resource raises the near surface gold inventory of Crotona’s North Monger Project to over 80,000oz of gold.

Black Hill Laterite Nickel An existing inferred nickel laterite resource at Black Hill estimated to be 30Mt @ 0.64% Ni for 192,000t of contained metal (September 2006) to a maximum depth of 40m currently measures ≈3.5km x 0.4km. Recent drilling of the newly acquired tenements tested the southern aeromagnetic identified extensions of the resource zone.

Previously announced significant RC intersections south of the Nickel Laterite resource include:

• 4m @ 0.6% Ni from 10m
• 24m @ 1.33%Ni from 8m
• 14m @ 0.76% Ni from 14m
• 14m @ 0.76% Ni from 14m
• 14m @ 0.76% Ni from 14m
• 16m @ 0.82% Ni from 16m
• 6m @ 0.65% Ni from 16m and 8m @ 0.98% Ni from 26m

The results of the latest six hole RC programme (June 2007) highlight the potential to expand the laterite resource a further 1.6km to the south. All holes intersected varying widths of Ni mineralisation (>0.5% Ni). Additional RC drilling is planned to confirm the lateral extent of the identified near surface saprolitic Ni mineralisation. It’s envisaged that an upgraded resource will be announced once the additional drilling and pending bottle roll test results are finalised.

Regional Exploration An additional 15 RC drill holes were recently completed for an advance of 1,468m. The holes targeted structural complexities associated with the Wombola dolerite, the host rock to gold mineralisation at Wombola Pit and Wombola Dam.

The best intercept, which finished in mineralisation, returned 3m @ 16.8 g/t Au in BSC013 from 97m. This single exploratory hole was drilled in isolation approximately 1.5 km west of the Wombola Dam resource into an area that has previously only been sparsely drill tested to shallow depths. Identified gold mineralisation, associated with a thrust-repeated dolerite-sediment, is hosted by a quartz-pyrite vein and the adjacent wall rock contact. Follow up drilling did not repeat the original high grade intersection although ore grade intersections were returned. In light of the latest data the mineralised horizon is now interpreted to be deeper than originally anticipated. Further exploration drilling will follow once the geochemical and geological data have been evaluated.

Other regional exploratory drilling has also returned narrow gold intersections.

Drill hole BSC001 located 400m east of Wombola Pit returned 2m @ 2.94g/t Au from 78m, intersecting gold mineralisation in a dolerite hosted quartz-pyrrhotite vein, comparable to the veining system hosting gold in fresh dolerite at both Wombola Pit and Wombola Dam. In addition BSC009 located 900m west of Wombola Dam returned 3m @ 1.72g/t Au from surface. The gold mineralisation is interpreted to be associated with quartz vein scree shedding down slope from nearby historic workings. Both areas present as potential drill targets.

The greater Wombola region displays an area of wide spread historical workings, extensive gold in soil geochemical anomalism and numerous high grade rock chips together with numerous drill intersections that define a large “footprint” gold mineralisation signature.

The company believes that the North Monger project area presents an exploration opportunity close to existing infrastructure that will improve further with additional geological evaluation and drill investigation.

Recent geological modelling of the mineralised envelope at Wombola Dam has highlighted a consistent south-westerly ore body plunge component implying that the high grade shoots may continue beneath and beyond the western most line of drilling. The company has now developed an understanding of the mineralisation controls at Wombola Dam and further drill orientated exploration is expected to improve and enhance the current gold inventory.