Matrix Metals | Copper Production and Exploration

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• Resource Growth Potential at Mt Watson Climbs

  Dec 8th 2003

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• Placement Completed

  Nov 28th 2003

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• Mt Watson Deposit - Significant Copper Intersections in Southern Zone

  Nov 24th 2003

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• Mt Cuthbert Project Positive Environmental Assessment

  Nov 21st 2003

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• Greenmount Drilling Results Focus White Range Drill Objectives

  Nov 20th 2003

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• High Grade Copper Reported in Diamond Core Drilling At White Range

  Nov 17th 2003

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• Placement of Ordinary Shares

  Nov 17th 2003

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• White Range Project - Positive Environmental Assessment Decision

  Nov 12th 2003

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• Mt Watson Drilling & Investor Presentation Document

  Nov 10th 2003

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• Drilling Commences at Greenmount

  Oct 13th 2003

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• Mitakoodi Native Title Agreement

  Oct 9th 2003

  Mitakoodi Native Title Agreement

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• SG Loan Facility Settled

  Sep 30th 2003

  SG Loan Facility Settled

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• New Discovery at Mt Earl

  Aug 21st 2003

  New Discovery at Mt Earl

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• Mt Earl Prospect - Successful Drilling Program Completed

  Jul 30th 2003

  Mt Earl Prospect - Successful Drilling Program Completed

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• SG funds Matrix to complete White Range Project Bankable Feasibility Study

  Jul 24th 2003

  SG funds Matrix to complete White Range Project Bankable Feasibility Study

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• Drilling to Commence at Mt Earl

  Jul 14th 2003

  Drilling to Commence at Mt Earl

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• White Range Scout Drilling - Copper Mineralisation Confirmed at all Prospects

  Jul 8th 2003

  White Range Scout Drilling - Copper Mineralisation Confirmed at all Prospects

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• Mt Watson Mining Lease Granted

  Jul 3rd 2003

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• Mt Earl Exploration Permits Granted

  Jul 1st 2003

  Mt Earl Exploration Permits Granted

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• White Range Project - Drilling Program Update

  Jun 19th 2003

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• Greenmount Leachable Copper Resource Increases by 80%

  Mar 13th 2003

  The Company is pleased to announce the results of the re-estimation of the copper resource at the White Range Project "Greenmount" deposit following the drilling program completed in December 2002. The Company today reports a significant increase in the proportion of the resource presenting favourable leaching characteristics. Highlight Based on the results of the reverse circulation drilling program completed in December 2002, the details of which were released in January of this year, the leachable resource at Greenmount has increased by 80% from 4.0 million tonnes to 7.3 million tonnes. This represents an increase in the contained leachable in-ground copper from 40,000 tonnes to 71,600 tonnes. Details of the Leachable Resource Upgrade The Greenmount deposit is part of Matrix Metals' 100% owned White Range Project, an advanced project on which the Company will complete a Bankable Feasibility Study. The reverse circulation drilling program, comprising 21 holes for 1700m, was designed to infill the existing drill data to seek an upgrade and reclassification of the copper resource, and to test along strike for extensions to the north and south of the existing resource. The program has been successful in elevating both the size and tenor of the leachable resource. Mineralisation commences at surface with the resource shown to now continue down to a depth of 150m. The leachable resource has increased from 4.0 million tonnes to 7.3 million tonnes, an increase of over 80%, estimated pursuant to the "ordinary kriging" method. Further, the majority of the resource, now classified as "Indicated", will be elevated to the "Measured" category upon completion of an additional suite of specific gravity determinations. Samples for these SG determinations will be recovered in the drilling program to be carried out to recover core samples for metallurgical testwork from the Greenmount deposit. Greenmount Deposit Leachable Resources @ 0.5 % Cu Cut-off Type Category Tonnage (Mt) Cu (%) Contained Cu (tonne) Oxide Indicated 2.5 1.0 25,400   Inferred         Total 2.5 1.0 25,400 Transitional Indicated 4.2 1.0 40,800   Inferred 0.6 0.9 5,300   Total 4.8 1.0 46,200 Total Indicated 6.7 1.0 66,300   Inferred 0.6 0.9 5,300   Total 7.3 1.0 71,600 * Apparent errors due to rounding. The Greenmount deposit is a key component of the White Range Project. The increase in the size of the leachable resource and it's elevation to the measured category after completion of the SG determinations, will allow the reserve and mine design work to proceed as part of the White Range Project Bankable Feasibility Study. The recent drilling program was successful in confirming the strong continuity of the copper mineralisation and has indicated further extensions are likely both at depth down the plunge of the major mineralised shoot and to the south side of a major cross cutting fault as depicted in the graphic below. The program also tested extensions to the north of a second fault at the north end of the deposit, and although mineralistion was not encountered, the interpretation of the data retrieved indicates displacement of the mineralization further to the east than previously understood. Accordingly, the resource is considered to also remain open to the north. The success of the drilling program has caused the Company to focus attention on the White Range Project Bankable Feasibility Study, and to move towards an intensification of drilling programs scheduled to commence at the end of the current wet season. The copper resource "Iso-surface" graphic below demonstrates the continuity and homogeneous nature of the Greenmount copper resource. Yours sincerely, Andrew Chapman Chief Executive Officer The information in this report that relates to Mineral Resources and Ore Reserves is based on information compiled by Messrs Phil Frank and Bob Dennis. Mr Frank is a Fellow of the Australasian Institute of Mining and Metallurgy and is employed by PH Frank and Associates and Mr Bob Dennis is a Member of the Australasian Institute of Mining and Metallurgy and a full-time employee of the Company. Both Messrs Frank and Dennis have sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 1999 edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves. Messrs Frank and Dennis, each consent to the inclusion in the report of the matters based on information in the form and context in which it appears. Greenmount Deposit "Iso-surfaces" at 0.5 % Cu Cut-off (click to view)

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• Matrix Metals and Kalkadoon People - INDIGENOUS LAND USE AGREEMENT - Registered by the National Native Title Tribunal

  Feb 20th 2003

  The Company is pleased to announce that an Indigenous Land Use Agreement ("ILUA") between Matrix Metals Limited and the Kalkadoon People "ILUA" was Registered yesterday by the NNTT and is hence now in force and fully operative. The ILUA provides a process for the granting of Mining Leases in the total Mt Cuthbert/Mt Watson region. The Registration of the Kalkadoon/Matrix ILUA, facilitating the granting of Mining Leases, is a milestone event in terms of the resolution of native title by negotiation and in the development of long term and meaningful relationships between native title claimants and mining companies. In a media release published by the NNTT today, the President of the NNTT Mr Graeme Neate said "This agreement stands as a testament to the effectiveness of mediation as it has delivered solid benefits to both parties and has addressed a much broader range of issues than was originally thought possible." Mr Neate added "It shows what can be achieved when everyone involved works co-operatively, developing relationships that will stand the test of time as the agreement progresses." The Registration of the ILUA concludes almost three years of negotiations between the parties and has created the foundation for the development of a long-term mutually beneficial relationship. Matrix would like to record their appreciation to the Kalkadoon People for the co-operative and positive spirit in which the ILUA has been negotiated and concluded. Additional details in regard to the ILUA are provided in an announcement to ASX dated 28 October 2002. Yours sincerely, Andrew Chapman Managing Director   The geological information in this report is based on information compiled by the Company's Senior project Geologist, Mr Phil Frank and the Company's Operations Manager, Mr Bob Dennis both of whom are employees of Matrix Metals Limited. Messrs Frank and Dennis each have a minimum of 5 years experience in estimation, assessment of, and evaluation of Mineral Resources and Ore Reserves, which are relevant to the style of mineralisation under consideration.

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• Gold at White Range

  Jan 30th 2003

  Matrix Metals Limited is pleased to announce further results from the White Range Project drilling program completed during December 2002. High grade copper intercepts from that program at the Greenmount deposit were reported on 14 January 2003. Gold assays from the drilling program at Greenmount have now been received and are reported in this announcement. In concentrating on elevating the size and resource category of the Greenmount oxide copper deposit, the Company had not previously focused on the significant existing gold resource within the Greenmount deposit. The existing gold resource comprises 3.6 million tonnes @ 0.8 g/t gold (approx 90,000oz). The grade and tenor of the gold intercepts recorded from the recent drilling program, in the primary pursuit of the copper resource, highlight the potential of the gold resource to significantly enhance the value of an already robust and rapidly growing oxide copper project. The most outstanding gold intercepts reported in the gold resource at Greenmount include: 4m @ 5.3 g/t Au ( incl 2m @ 9.6 g/t Au), 4m @ 3.2 g/t Au, 10m @ 2.2 g/t Au, 6m @ 3.2 g/t Au, 4m @ 2.8 g/t Au, 10m @ 2.1 g/t Au. The gold resource and new intercepts are contiguous with the existing copper resource, both of which are hosted predominately in the Marimo slates. These new intercepts confirm the opportunity to grow the gold resource and to capitalise on the potential significant value of the ultimate gold resource, already totalling in excess of 90,000oz. The gold resource is considered entirely complementary to the copper focus of the project and to the Company's heap leach expertise. The nature of the existing gold mineralisation, when considered with the initial metallurgical test-work results on the copper resource, has lead the Company to believe that the gold mineralisation is likely to be amenable to heap leaching. The December 2002 drilling program has confirmed the potential to grow the existing gold resource (indicated and inferred gold resource of 3.6 million tonnes @ 0.8 g/t gold) and in addition, has extended the gold mineralisation into areas not previously tested. Significant results from the December 2002 drilling program include intercepts of: 4m @ 2.1 g/t Au, 2m @ 3.5 g/t Au, 2m @ 4.0 g/t Au, 11m @ 1.3 g/t Au. Gold intercepts from the December 2002 program are presented in Table 1, with locations and details of these drill holes set out in Table 2. The gold resource remains open in all directions, and at depth. The next phase of evaluation of the gold resource is to re-estimate the resource, carry out preliminary mining and metallurgical studies, and in consideration of the gold resources spatial relationship to the copper resource, assess the opportunity to economically mine the gold resource and confirm the amenability to heap leaching. It is anticipated that the gold resource will increase upon the inclusion of these and other previously unaccounted drilling results, with the upgrade of the resource to be reported once the re-estimation is complete. The defined oxide copper resource at the 100 % owned White Range Project currently totals 12.6 million tonnes @ 1.2 % copper. The Company reported significant high-grade drilling intercepts from the Greenmount deposit on 14 January 2003, with this deposit, being a key component of the White Range Project. Yours sincerely, Andrew Chapman Chief Executive Officer Click for Tables The geological information in this report is based on information compiled by the Company's Senior project Geologist, Mr Phil Frank and the Company's Operations Manager, Mr Bob Dennis both of whom are employees of Matrix Metals Limited. Messrs Frank and Dennis each have a minimum of 5 years experience in estimation, assessment of, and evaluation of Mineral Resources and Ore Reserves, which are relevant to the style of mineralisation under consideration.

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