Kathleen Valley and Mt Harris Joint Ventures (gold, nickel) - Giralia 15-30%

Joint venture operator, Xstrata Nickel Australasia (formerly Jubilee Gold Mines), has earned a 70% interest at Kathleen Valley and Mt Harris located approximately 5 kilometres north of the Cosmos nickel mine. Xstrata is continuing to sole fund exploration with Giralia diluting. A small known gold deposit (previously estimated resource of 56,000 tonnes at 2.75 grams per tonne gold) on Giralia’s tenements at the Main Road deposit and the Northeast Stockwork zone forms part of Xstrata’s larger Kathleen Valley Gold Project.Xstrata reports no field activity on gold and nickel prospects on Kathleen Valley joint venture.