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INTERNATIONAL MINING PROJECT NEWS (111) November 19, 2010
News from those projects making progress towards production – more every two weeks
A collection of recent starts and progress reports from around the world - updates on
projects around the globe likely to be in the market for equipment and services.
PREFEASIBILITY................................................................................................................................................4
USA - Ventana Gold - SILVER/GOLD/COPPER ...................................................................................................4
BOTSWANA - Hana Mining - COPPER/SILVER/MOLY........................................................................................4
REPUBLIC OF CONGO - Cape Lambert Resources - RON ORE………………………………………………………………………5
AUSTRALIA - ATW Gold Corp/ Mutiny Gold Ltd - GOLD .....................................................................................5
CANADA - Coalspur Mines – COAL………………………………………………………………………………………………………………6
PERU - Cía. de Minas Buenaventura, Minera La Zanja/ Newmont Mining/ Soc Minera El Brocal/ CEDIMIN/ Minera
Yanacocha/ Soc Minera Cerro Verde - (GOLD/COPPER/MOLY/SILVER.............................................................6
NAMIBIA - Minemakers Ltd/ Union Resources/ Namibian Marine Phosphate - PHOSPHATE................................6
KYRGYZ REPUBLIC - Orsu Metals Corp/ Gold Fields - GOLD/COPPER/MOLY ....................................................7
SIERRA LEONE - Cape Lambert Resources - IRON ORE ....................................................................................7
SWEDEN - Tasman Metals - RARE EARTH ELEMENTS .....................................................................................7
BURKINA FASO - Orezone Gold Corp - GOLD...................................................................................................8
AUSTRALIA - Syndicated Metals Ltd - COPPER/GOLD ......................................................................................8
CANADA - Avalon Rare Metals - TIN/INDIUM/POLYMETALLIC .........................................................................9
LIBERIA - African Aura Mining - GOLD.............................................................................................................9
REPUBLIC OF CONGO - Zanaga Iron Ore/ Mining Project Development Congo S.A.U. - IRON ORE..................10
FEASIBILITY STAGE.........................................................................................................................................10
PERU - Jinzhao Mining Peru/ Strike Resources - IRON ORE...........................................................................10
TANZANIA - Atomic Resources/ Aspac Mining/ New Hope Corp - COAL ..........................................................10
AUSTRALIA - Hancock Coal/ Hancock Galilee/ Hancock Coal/ BHP Billiton - COAL ..........................................11
USA - Electrum Resources/ THEMAC Resources/ Marley Holdings/ Tulla Resources -
COPPER/MOLYBDENUM…………………………………………………………………………………………………………………………..11
USA - Romarco Minerals - GOLD.....................................................................................................................12
AUSTRALIA - Arafura Resources Ltd - RARE EARTHS.....................................................................................12
SOUTH AFRICA - Platinum Australia Ltd / African Rainbow Minerals Platinum - PLATINUM.............................13
IVORY COAST - Perseus Mining - GOLD..........................................................................................................13
TURKEY - Stratex International - GOLD...........................................................................................................14
USA - Nevada Copper Corp - COPPER ............................................................................................................14
CHILE - Herencia Resources - ZINC/LEAD/SILVER/GOLD/COPPER.................................................................15
BRAZIL - Guyana Goldfields - GOLD................................................................................................................15
SWEDEN - Avalon Minerals - COPPER/IRON ORE ...........................................................................................16
AUSTRALIA – Endocoal - COAL......................................................................................................................16
BRAZIL - Beadell Resources - GOLD ...............................................................................................................16
CANADA - Selwyn Resources/ Selwyn Chihong Mining Ltd - ZINC/LEAD.........................................................17
CANADA - Encanto Potash Corp - POTASH....................................................................................................17
SOUTH AFRICA - Firestone Energy/Sekoko/ Exxaro - COAL ............................................................................17

2. PERU - Andean American Gold Corp - GOLD/SILVER/COPPER .......................................................................18
MALAWI - Globe Metals & Mining - URANIUM/REE.......................................................................................18
ERITREA - Chalice Gold Mines/ Eritrean National Mining Corp - GOLD..............................................................18
MALI - Ressources Robex - GOLD .................................................................................................................18
AUSTRALIA – FerrAus - IRON ORE .................................................................................................................18
KYRGYZ REPUBLIC - Manas Resources - GOLD...............................................................................................19
AUSTRALIA - Meridian Minerals/ BZ Minerals/ North West Mining and Geology Group Co - ZINC/LEAD...........20
MONGOLIA - Oyu Tolgoi LLC/ Ivanhoe Mines/ Rio Tinto - COPPER/GOLD ......................................................20
CANADA - Imperial Metals Corp - COPPER/GOLD ...........................................................................................20
AUSTRALIA - Atlas Iron/ BHP Billiton Iron Ore - IRON ORE ..............................................................................21
IN DEVELOPMENT..........................................................................................................................................21
SOUTH AFRICA - Pan African/ Phoenix Platinum Mining - PGM .......................................................................21
LESOTHO - Lucara Diamond Corp/ Mothae Diamonds - DIAMONDS ................................................................22
BOTSWANA - Discovery Metals - COPPER/SILVER..........................................................................................22
USA - Formation Metals Inc - RARE EARTHS....................................................................................................23
PERU - Bear Creek Mining Corp - SILVER ........................................................................................................23
CANADA - Mountain Province Diamonds Inc/ De Beers Canada - DIAMOND...................................................23
AUSTRALIA - WPG Resources Ltd - IRON ORE................................................................................................23
ETHOPIA - Nyota Minerals - GOLD .................................................................................................................24
GREECE - European Goldfields - GOLD ..........................................................................................................24
ERITREA -Nevsun Resources - COPPER/GOLD/ZINC/SILVER .........................................................................24
AUSTRALIA - : Reed Resources/ China Nonferrous Metal Industry’s Foreign Engineering and Construction -
VANADIUM………………………………………………………………………………………………………………………………………………24
SPAIN - Ormonde Mining - TUNGSTEN ...........................................................................................................25
PANAMA - Minera Panama SA/ Inmet Mining Corp - COPPER.........................................................................25
MALAYSIA/AUSTRALIA - Lynas Corp - RARE EARTHS ....................................................................................25
SOUTH AFRICA - Keaton Energy Holdings Ltd - COAL....................................................................................25
USA – USCorp - GOLD/SILVER .......................................................................................................................26
AUSTRALIA - Gindalbie Metals - IRON ORE.....................................................................................................26
AUSTRALIA/CHINA - Galaxy Resources - LITHIUM…………………………………………………………………………………….26
ARGENTINA - Patagonia Gold - GOLD ............................................................................................................26
SOUTH AFRICA - Jubilee Platinum - PLATINUM..............................................................................................27
SOUTH KOREA - Woulfe Mining Corp - TUNGSTEN/MOLY..............................................................................27
CANADA - Potash One - POTASH..................................................................................................................27
AUSTRALIA - AngloGold Ashanti - GOLD ........................................................................................................28
CONGO - Tiger Resources - COPPER..............................................................................................................28
AUSTRALIA - Centrex Metals - IRON ORE.......................................................................................................29
TURKEY - Anatolia Minerals Development/ Anagold Madencilik Sanayi Ve Ticaret Anonim Sirketi/ Kurudere
Madencili - GOLD…………………………………………………………………………………………………………………………………….29
MONGOLIA - Prophecy Resource Corp - COAL...............................................................................................30
AUSTRALIA - Sandfire Resources - COPPER/GOLD.........................................................................................30
RUSSIA - OJSC MMC Norilsk Nickel - COPPER/GOLD/IRON ORE ....................................................................30
ECUADOR - International Minerals Corp - GOLD.............................................................................................31
USA - Energy Fuels - URANIUM/VANADIUM...............................................................................................31
USA - RX Exploration - GOLD/SILVER .............................................................................................................32
USA - Augusta Resource Corp - COPPER .......................................................................................................32
CANADA - Copper Mountain Mining/ Mitsubishi Materials Corp - COPPER........................................................32
KAZAKHSTAN – Kazakhmys - COPPER/GOLD.................................................................................................32
ZAMBIA - Berkeley Mineral Resources (BMR) - LEAD/ZINC .............................................................................32
IVORY COAST - Scorpio Gold Corp - GOLD .....................................................................................................33
INTO PRODUCTION........................................................................................................................................33
IVORY COAST - Randgold Resources - GOLD..................................................................................................33
RUSSIA - Highland Gold Mining Ltd - GOLD.....................................................................................................33
RUSSIA - OJSC MMC Norilsk Nickel - NICKEL/COPPER....................................................................................34
MEXICO - Pan American Goldfields Ltd/ Minera Rio Tinto - GOLD/SILVER .......................................................34
MONGOLIA - Prophecy Resource Corp - COAL...............................................................................................34
AUSTRALIA - Range River Gold - GOLD ..........................................................................................................34
FINLAND - Endomines AB - GOLD..................................................................................................................35
USA - Uranium Energy Corp - URANIUM ........................................................................................................35
EXPANSION....................................................................................................................................................35

3. CHINA - Silvercorp Metals/ Yunxiang Mining Co - GOLD/ZINC/LEAD..............................................................35
ZIMBABWE - New Dawn Mining/ Central African Gold - GOLD.........................................................................36
MONGOLIA - SouthGobi Resources - COAL....................................................................................................36
MOZAMBIQUE - Beacon Hill Resources - COAL .............................................................................................37
MEXICO - Nyrstar/ Farallon Mining- ZINC/COPPER/LEAD/GOLD/SILVER........................................................37
PHILIPPINES - Medusa Mining Ltd - GOLD.......................................................................................................38
USA/CANADA - Stillwater Mining Co – PGM……………………………………………………………………………………………….39
AUSTRALIA - Tanami Gold NL- GOLD.............................................................................................................39
CANADA - North American Palladium- PALLADIUM........................................................................................39
AUSTRALIA - Fortescue Metals Group - GOLD.................................................................................................40
NEW PLAYERS................................................................................................................................................41
CONGO - Cape Lambert Resources/Stirling Minerals Ltd/ DMC Mining Ltd - IRON ORE ....................................41
TURKEY - Anatolia Minerals Development/ Avoca Resources Ltd/ . Alacer Gold Corp - GOLD ...........................41
SOUTH AFRICA - Royal Bafokeng Platinum - PLATINUM.................................................................................41
GHANA - PMI Gold Corp - GOLD.....................................................................................................................41
USA/CANADA - Lexam Explorations/ VG Gold Cor/ Lexam VG Gold Inc - GOLD/URANIUM ...........................42
USA/ARGENTINA/SPAIN - Renaissance Gold - PRECIOUS METALS……………………………………………………………..42
AUSTRALIA - Carabella Resources - COAL…………………………………………………………………………………………………42
MEXICO - Silvermex Resources Ltd/ Genco Resources - SILVER/GOLD..........................................................42
PROJECT PEOPLE............................................................................................................................................43

4. PREFEASIBILITY
Country: USA Owner in CANADA SILVER/GOLD/COPPER
November 8: Ventana Gold has announced an initial independent NI 43-101 compliant mineral resource estimate and the
scoping study results for its wholly owned La Bodega gold project in the California gold district of northern Colombia. The
scoping study and initial resource calculation work represent the aggregate technical analysis conducted to-date on a portion of
the La Bodega and La Mascota mineralised zones that exist within Ventana‟s La Bodega project. Highlights of the report
include:
Average annual production for the first six full years of 347,000 gold equivalent (Au Eq) oz, which is comprised of
301,000 oz of gold, 1.4 Moz of silver and 6.9 Mlb of copper
Average cash costs of $322/oz of gold for the first six full years, net of silver and copper by-product credits
Pre-tax IRR of 34%
Estimated start-up capital cost of $297 million
Pre-tax NPV (NPV)* (5%) of $807 million
Inferred mineral resource of 3.5 Moz of gold, 19.2 Moz of silver and 84.6 Mlb of copper
mine life of 14 years at a planned production rate of up to 7,500 t/day
Additional opportunities:
resource expansion from ongoing drilling with surface exploration drills focusing on La Baja, Las Mercedes,
Aserradero, and the gap area between the La Bodega and La Mascota zones
resource expansion from underground drilling to explore deep extensions of the ore body past the current depth of
the mineral resource
Improved mineral recovery from metallurgical optimisation work conducted at a site-based pilot processing plant
Increased production from further exploration and development of the known areas of mineralisation
Stephen Orr, President and Chief Executive Officer of Ventana Gold: "The scoping study results and resource estimate for La
Bodega demonstrate the robust economics and value this project has to offer. These results confirm our belief that the La
Bodega project is one of the most exciting emerging gold deposits in South America. Concurrent with on-going exploration
efforts to upgrade and expand the resource, we will now focus on completion of the feasibility to bring Ventana closer to
becoming Colombia s leading precious metals producer. www.ventanagold.com
Country: BOTSWANA Owner in CANADA COPPER/SILVER/MOLY
November 8: Hana Mining has announced final results on the first locked cycle tests on sulphide material from the Banana
zone at the Ghanzi project. The results show that the copper-silver mineralisation at the Banana Zone sulphide mineralisation is
highly amenable to conventional flotation recovery technology.
Ghanzi project - Banana Zone Locked Cycle Test-1 Results
Concentrate Grade %, g/t Recovery %
Mass Cu Ag Mo Cu Ag Mo
(%) (%) (g/t) (%) (%) (%) (%)
Re-Cleaner Conc. 3.29 43.55 853.57 0.73 92.75 80.58 78.28
Cleaner-scav. Tails 10.21 0.05 7.63 0.01 0.33 2.23 1.89
Rougher Tails 86.50 0.12 6.93 0.01 6.92 17.18 19.83
Head 100.00 1.55 34.87 0.03 100.00 100.00 100.00
Highlights of recent metallurgical results:
Initial locked cycled tests, at a coarse grind size of 150 microns, show a copper recovery of 92.75% and a silver
recovery of 80.58%.
The tests also show a final concentrate grade of 43.55% copper, 853.57 g/t silver and 0.73% molybdenum.
Molybdenum recoveries in the copper concentrate were highly encouraging with an average recovery of 78.28%.
Metallurgical work on applying conventional flotation technology on oxide and transitional material from the Banana
Zone and sulphide material from the Chalcocite Zone is ongoing.
Given the encouraging recoveries and concentrate grades of the molybdenum, Hana will look at the feasibility of
producing a saleable molybdenum concentrate.
The test data will be used to develop a process flow sheet, to identify further testing requirements, and to develop capital and
operating costs for the PEA - which is scheduled to be completed by the end of 2010.
Banana Zone Sulphide Composite
Zones Hole-ID From (m) To (m) Total (m)
New Discovery HA-99-DM 93 120 27
New Discovery HA-100-DM 76 150 74
South Limb HA-103-DM 115 122 7
Northeast Fold HA-105-DM 148 160 12
Total 120
In the Banana Zone, sulphide composite bornite and chalcocite represent 95% of the copper mineralisation. Approximately
80% of the copper minerals are liberated at a coarse grind size of 150 microns, while copper minerals which are not liberated
are associated with hard silicates and phyllosilicates.

5. Initial locked cycled metallurgical tests on the sulphides from the Banana Zone show that the mineralised material is highly
amenable to conventional flotation methods resulting in a copper recovery of 92.75%, and a silver recovery of 80.58%. The
testing also showed that conventional flotation can produce a relatively high grade concentrate, with average grades of 43.55%
copper and 853.57 g/t silver. For comparison, most conventional copper sulphide mining and milling operations produce a
product with concentrate grades of 25% to 30% copper.
Highly encouraging results were also received on the contained molybdenum which showed a molybdenum recovery of 78.28%
with the bulk concentrate grade of 0.73% molybdenum. Given the encouraging molybdenum results, Hana will move forward
with additional work to evaluate the viability of producing a separate molybdenum concentrate. Results are not expected to be
available until sometime in 2011.
The following engineering and consultation activities are ongoing to fulfil the goal of completion of a PEA by Q4 2010:
Preliminary mine open pit modelling has been carried out using the April 2010 resource. A revised model will be
completed after the 2010 drilling has been incorporated;
A NI 43-101 compliant resource estimate for the Banana and Chalcocite Zones is expected to be released soon;
Metallurgical (column leaching) results are expected to be available by the end of the year;
The Ghanzi project is located in the centre of the Kalahari Copper Belt in north western Botswana. Hana Mining‟s most recent
NI 43-101 compliant resource estimate for the Ghanzi project has an inferred mineral resource of 3.9 billion lb of copper and
62.1 Moz of silver from 177 Mt. This mineral resource estimate consists of 73.5 Mt grading 1.5% Cu and 19 g/t Ag in the
Banana Zone, 13.4 Mt grading 1.7% Cu and 12 g/t Ag in Zone 5, 6.3 Mt grading 1.5% Cu and 7 g/t Ag in Zone 6; all at a cut-off
grade of 0.75% Cu. Also included is 83.6 Mt grading 0.46% Cu and 3.6 g/t Ag at a cut-off grade of 0.30% in the Chalcocite
Zone. www.hanamining.com
Country: REPUBLIC OF CONGO Owner in AUSTRALIA IRON ORE
November 9: Cape Lambert Resources announces Davis Tube Recovery (DTR) results from magnetite mineralisation at its
80% owned Mayoko iron ore project in the Republic of Congo (ROC). The company has previously advised the market of the
results of the Phase 1 drill program (18 diamond holes for 3,687 m) (ASX Announcement, September 14 2010), which included
magnetite banded iron formation (BIF) occurring in two lenses varying from 50 to 200 m thick and extending to more than 300
m below surface over the full 7 km strike length of the Mount Lekoumou and Mount Mipoundi prospects.
The company has received DTR results for six composite samples representing weathered BIF and Magnetite BIF. DTR testing
has been conducted at two 80% passing grind sizes, being 73 and 67 micron. The DTR results show the Magnetite BIF at
Mayoko can be beneficiated into a concentrate grading 68-70% Fe, 3-5% SiO2, 0.2-0.4% Al2O3, <0.05% S and 0.006-0.02% P
with a mass recovery to concentrate of 40-45%. This is a high-grade concentrate, which may be suitable as a direct reduction
feed stock.
Executive Chairman, Tony Sage: "whilst the immediate development plan for Mayoko was based on the DSO cap and Enriched
BIF, these results demonstrate the underlying magnetite mineralisation also has significant value and would underpin a
substantial project mine life".
Mayoko has the potential to be a world class iron ore deposit, with an exploration target size of up to 1,000 Mt of predominantly
itabirite iron mineralisation. It is located in the southwest region of the ROC and is 2.2 km from the bulk haulage rail line which
connects Mayoko to the wharf of Pointe Noire. Unlike many other resource projects operating in West Africa, the Mayoko
project has secured crucial access to both rail and port facilities for the transport of iron ore from the project to market. This
capitalisation of local infrastructure gives the Mayoko project significant advantage over other projects in the province.
www.capelam.com.au
Country: AUSTRALIA Owner in AUSTRALIA GOLD
November 9: ATW Gold Corp has provided an update on the company's Gullewa gold project (Gullewa) in Western Australia.
The company's partner, Mutiny Gold Ltd recently completed its drill program on the Gullewa gold project's Deflector deposit.
The program consisted of 41 holes totalling 3,461 m of RC drilling and was completed to upgrade the existing resource by
converting part of the Indicated resource to a Measured resource.
Assay results are expected by late November 2010 and the resource upgrade is expected to be completed by mid-December
2010. Mutiny's work on the Deflector Scoping study is continuing and expected to be complete before the end of the year.
Gullewa is located 450 km north of Perth, in the Yalgoo mineral fields of Western Australia. Gullewa is a 550 km2
property that
hosts several gold deposits of various size and grade, the most significant being the Deflector gold-copper deposit which
contains total resources of 3.3 Mt @ 5.4 g/t Au and 0.76% Cu for 560,000 oz Au and 25,000 t Cu of which Measured and
Indicated resources total 1.7 Mt @ 4.7 g/t Au and 1.03% Cu for 230,000 oz of Au and 17,000 t of Cu.
Category T Au
(g/t)
Au
(oz)
Cu
(%)
Cu
(t)
Ag
(g/t)
Ag
(oz)
Measured
Indicated
Measured and
Indicated
Inferred
Totals
535,000
1,200,000
1,700,000
1,600,000
3,300,000
3.9
4.3
4.2
6.5
5.4
67,000
160,000
230,000
330,000
560,000
1.18
0.96
1.03
0.48
0.76
6,300
11,000
17,000
8,000
25,000
8.0
6.3
6.9
3.0
5.2
140,000
240,000
380,000
200,000
580,000
Mutiny plans to commence production with an open pit mining operation at the Deflector deposit, followed by underground
mining after two years. The payback period from the open pit operations is estimated to be eight months based on previous
mine studies.
It is intended that the ore will be processed at the existing Gullewa mill, following modifications to allow the treatment of copper-
gold ores. Mutiny also plans to process gold concentrate from its White Well deposit near Cue at the Gullewa mill.
www.atwgold.com

6. Country: CANADA Owner in AUSTRALIA COAL
November 10: Coalspur Mines announces a coal resource upgrade of 297.1 Mt on its Vista coal project (VCP) in Alberta,
Canada ahead of the release of the company‟s PFS on the project. This increases the total coal resource to 1,370 Mt.
Managing Director and CEO, Gene Wusaty: “The upgrade is a further testament to the size and quality of the Vista coal project
and places the resource base of Coalspur in the top tier of emerging global coal developers. This upgraded resource will be
incorporated into the final mine planning being conducted on the project in the PFS and we are excited about the potential of
developing one of the largest export coal project in North America”.
Table 1: JORC Coal Resources
The VCP upgrade estimate has been based on the following:
Addition of recently obtained historical drill hole information into the geological database
Addition of the Silkstone seam which underlies the McPherson Seam in the central part of the deposit. The Silkstone
seam historical drilling indicates three coal plies with an aggregate thickness of up to 4.5m
Reinterpretation and modelling of the merged boundary areas of the Hinton East, Hinton West, Z-Block and McLeod
River North leases which now form the VCP
Reinterpretation of all coal seam splits and partings.
The resource estimate has been completed in accordance with the JORC Code (2004) and NI 43-101. The company‟s coal
resources now total over 1,370 Mt of low sulphur, high volatile bituminous, export quality thermal coal with the VCP resource
accounting for 1,200 Mt and the Vista South coal project accounting for 168.3 Mt. Further resource drilling programs are
currently underway to expand the resource over the large 32,000 ha coal lease position in the Hinton region of West Central
Alberta.
The VCP resource of 1,202.8 Mt is comprised of Measured resources of 588.9 Mt, Indicated resources of 331.6 Mt, and
Inferred resources of 282.3 Mt. The resource is defined from four coal seams (Val D‟or, McLeod, McPherson and Silkstone)
that have a cumulative coal thickness of approximately 28 m. The four coal seams which comprise the coal resource have a dip
to the northeast ranging from 4–15o
, which has resulted in the resource being defined within a10.11:1 strip ratio pit (modelled
using a 20:1 incremental cut-off strip ratio).
Included into the VCP geological model are 15 rotary and diamond drill holes (totalling 6,580 m) previously drilled by various
operators between 1981 and 2008, comprising two diamond drill holes (totalling 118 m) and 13 rotary drill holes (totalling 6,462
m). The modelled pit uses 45° walls and was set up such that only coal within the company‟s leases is mined and uses a
minimum mineable seam thickness of 0.5 m and a minimum removable parting thickness of 0.3 m (partings less than 0.3m are
included with the coal seam).
Coal quality characteristics are based upon drilling and washability studies completed to date. Expected yields are ~ 54% which
produces a low sulphur, 5,800 kcal/kg GAR product which is currently in high demand in the Asia Pacific export thermal coal
market. www.coalspur.com
Country: PERU Owner in PERU GOLD/COPPER/MOLY/SILVER
November 10: Cía. de Minas Buenaventura, Peru's top precious metals producer, plans to bring the porphyry
copper/molybdenum/gold/silver Cerro Castrejón to prefeasibility, MinerAndina.e reports. It is located 5 km from the firm's new
La Zanja gold/silver mine.
Cerro Castrejon has been one of Minas Buenaventura's main exploration targets in the third quarter of 2010, with $0.9 million
invested from a total of $7.1 million allocated for exploration efforts company-wide during that period. MinerAndina.e says "In
this manner, Buenaventura increases its inventory of base metal resources in the Cajamarca region including those of
Castrejon, and prepares itself for the exploitation of sulphides in Minas Conga and its symbolic participation in Yanacocha by
the end of 2014 or beginning of 2015. It also has plans to bring the La Cueva and Cerro Campana targets of
copper/molybdenum sulphides to prefeasibility stage, a matter that corresponds to the jurisdiction of La Zanja's operator,
Minera La Zanja."
Cerro Castrejon has an Inferred primary sulphide resource of 48 Mt @ 0.33% Cu and 0.13% Mo, in addition to 49,000 oz of
gold in mixed oxides. The project, which covers an area of 32,070 ha, is located within the concession area of Minera La Zanja
(53.06% Buenaventura and 46.94% Newmont Mining, in the Pulan district, Santa Cruz de Succhabamba province, Cajamarca
department.
La Zanja started production this year and should achieve an average annual production of 100,000 oz of gold from 2011, during
an estimated mine life of five years. There are two oxide gold deposits: San Pedro Sur and Pampa Verde with reserves of
400,000 oz and 309,000 oz, respectively.
Besides La Zanja, Minas Buenaventura also has a majority stake in Soc Minera El Brocal and CEDIMIN, and is a minority
shareholder in Minera Yanacocha (43.65%) and in Soc Minera Cerro Verde (19.26%), ranked third among Peru's copper
producers. Buenaventura's mines in operation are: Orcopampa, Poracota, Uchucchacua, Antapite, Julcani and Recuperada.
The company's net income was $174.1 million, according to its third quarter 2010 report which was presented last month. This
represents a climb of 17% compared to that of the same period of last year ($ 148.5 million), due mainly to an increase of
profits by 54% in its operations in spite of a reduction of 29% in the contribution made by Yanacocha.
The company's net sales were around $265.9 million, an increase of 24% with respect to the same quarter of last year. Income
from royalties, however, went down by 14%, to some $14 million. www.buenaventura.com
Country: NAMIBIA Owner in AUSTRALIA PHOSPHATE
November 11: Joint venture partners Minemakers Ltd, 42.5%, Union Resources, 42.5%, and Tungeni Investments,15%, are
pleased to announce the results of the scoping study by the joint venture company, Namibian Marine Phosphate (NMP) for
the Sandpiper/Meob Marine phosphate project.
Operating costs have been estimated at $57.76/t FOB Walvis Bay for an operation on beneficiated material, ramping up to 3
Mt/y and start-up capital costs are estimated as $144 million. The beneficiated material is indicated to be suitable for marketing
to fertiliser producers and for the manufacturer of phosphoric acid by the joint venture.

7. Indicated Category: 73.9 million dry t at 20.57% P2O5
Inferred Category: 1,507 million dry t at 18.7% P2O5
Total 1,581 million dry t at 18.8% P2O5
The JV considers there is a reasonable exploration target of an additional 1,000 - 2,000 Mt in the grade range of 18 – 21%
P2O5. The scoping study incorporates a ramp up to 3 Mt/y of beneficiated product by year 3 of operation. The economics show
potential for an operation lasting over a century.
The financial highlights from the scoping study base case study over the first 25 years of project operation are summarised as
follows:
scoping study base case Financial Model 25 years
Saleable Rock phosphate 3 Mt/y
Cash Operating Costs, FOB Walvis Bay $57.76/t
Capital Costs (Years 1-3) $144M
Capital Costs per tonne $7.65.t
NPV @ 10% discount rate $312M
NPV @ 15% discount rate $133M
IRR 25.5%
Processing test work has indicated that through conventional sizing, screening and attrition processes the mined material can
be concentrated to 28% P2O5 and, in addition, attrition test work also showed a partial removal of the contaminant gangue
including iron (Fe), magnesium (Mg), aluminium (Al) and insoluble matter into the slimes. Chemical test work completed to date
shows that the Namibian rock concentrate can be used to make either Phosphoric Acid or Single Super phosphate (SSP).
The positive results of the scoping study show the project‟s economics and long life production potential and indicate that NMP
and its shareholders should progress the project rapidly through to completion of a feasibility study beginning at the start of
2011. www.minemakers.com.au; www.unionresources.com.au
Country: KYRGYZ REPUBLIC Owner in UK GOLD/COPPER/MOLY
November 11: Orsu Metals Corp has announced the positive results of a scoping study for the Tadybulak gold-copper-
molybdenum porphyry deposit at its Talas joint venture project in the Kyrgyz Republic. Gold Fields, through its subsidiary Gold
Fields Orogen Holding, has a 60% interest in the Talas joint venture company, whilst Orsu retains a 40% interest in the Talas
project. Gold Fields is the project manager.
The Taldybulak scoping study establishes key design criteria for an open pit mine scenario with a 15 Mt/y processing facility for
average annual recovery of 242,000 oz gold and 137,600 (dry) t of copper concentrate and 1,880 (dry) t of molybdenum
concentrate via conventional communition and floatation process flow sheets at estimated initial capital expenditures of about
$516 million.
Taldybulak has been the primary focus of exploration and mineral resource development within the Talas project licence area.
The Talas project is located 250 km west of the Kyrgyz capital of Bishkek.
The SAMREC Code resource contains 127 Mt in the indicated category, which is comprised of 2.6 Moz gold at 0.64 g/t, 477
Mlb copper at 0.17%, and 29.4 Mlb molybdenum at 0.01%, and 296 Mt in the Inferred category, which is comprised of 3.71 Moz
gold at 0.40 g/t, 1,098 Mlb copper at 0.17%, and 69.2 Mlb molybdenum at 0.01%.
Preliminary metallurgical test work indicated that the recovery of gold, copper and molybdenum should be possible using a
conventional communition and flotation process. Based on metallurgical test work results, a conceptual process flow sheet has
been developed consisting of crushing, grinding and bulk flotation to produce a gold-copper-molybdenum concentrate. The
concentrate would then undergo a further flotation stage to produce both a copper-gold concentrate and a molybdenum
concentrate.
In this scenario some copper must be present in order to recover any other elements, therefore any Standard Mining Unit
containing some gold but zero copper would not be profitable to treat. Due to the polymetallic nature of the Taldybulak ores,
material that is profitable to treat is not simply based on a single element cut-off grade. www.orsumetals.com
Country: SIERRA LEONE Owner in AUSTRALIA IRON ORE
November 12: Cape Lambert Resources continues to advance its wholly owned Marampa iron ore project in Sierra Leone,
West Africa, towards a possible late 2012 production start-up, with the company announcing a maiden JORC compliant
Inferred mineral resource at the Marampa project of 197 Mt at 28.5% Fe (above a 15% Fe lower cut-off).
The Marampa project is a hematite iron ore project uniquely leveraged to a rapid and low risk pathway to production, via
existing rail and port infrastructure that is currently being refurbished (refer ASX announcements 6 April 2010 and 15 October
2010). Tony Sage, Executive Chairman of Cape Lambert: “We have made rapid progress in the past twelve months and with
five rigs now drilling at site, we expect to accelerate the timing of our first resource update, scheduled for the March 2011
quarter, at which time the bulk of the rail and port infrastructure refurbishment associated with the project will be completed.”
“With this substantial maiden JORC resource complete, we will now be able to finalise a scoping study looking at a proposed
initial development rate of 2-5 Mt/y, from late 2012, with the maiden JORC resource providing for a mine life in the order of 20
years at 2 Mt/y concentrate production, with significant resource growth to follow.”
“In addition, the metallurgical test work has shown that the hematite resource can be upgraded to a sinter fines or blast furnace
pellet feed product, at a coarse grind size using mature, low risk magnetic separation,” www.capelam.com.au
Country: SWEDEN Owner in CANADA RARE EARTH ELEMENTS
November 16: Tasman Metals has begun metallurgical testing on material from its 100% owned Norra Karr heavy rare earth
element (REE) – zirconium (Zr) project in Sweden. SGS Minerals Services has been contracted to undertake a program of
advanced mineralogical characterisation, concentrate preparation and hydrometallurgical testing on a 100 kg sample. This
metallurgical study is the first comprehensive work to be undertaken on the Norra Karr project, and is anticipated to generate a
first phase of reportable results during the first quarter 2011.

8. Tasman‟s 2010 drilling program at Norra Karr was very successful, intersecting REE – Zr mineralization in all 26 drill holes on
five sections over 800 m strike length to a vertical depth of approximately 110 m. Numerous holes were terminated in
mineralisation, and all sections remain open at depth. Tasman has retained Pincock Allen Holt to provide a first time NI 43-101
compliant mineral resource estimate on the Norra Karr project, which is expected during November 2010.
Mineralogical characterisation will focus on identifying the presence and abundance of REE bearing minerals using Qemscan
and electron microprobe technology. REE bearing minerals identified to date include eudialyte plus lesser britholite,
rosenbuschite and mosandrite. Metallurgical test work shall focus on the preparation of an REE mineral concentrate applying
gravity, magnetic, electromagnetic and flotation procedures with a view to determining the most efficient and effective method
for future processing. The REE mineral concentrate will then be subjected to various hydrometallurgical techniques, to identify
possible extraction methods.
SGS Minerals Services was chosen as the preferred research partner for this work due to its “strong global reputation and
extensive experience in REE processing, including recent work on projects with similar processing characteristics to Norra
Karr,” Tasman explains. The company shall be supported by Les Heymann, a highly experienced consulting metallurgist with
extensive experience in REE processing including building and operating REE plants within China.
“The start of metallurgical testing is a significant milestone for both Tasman and the Norra Karr project” said Mark Saxon,
Tasman‟s President & CEO. “Our senior REE consultant Dr Tony Mariano has completed the first phase of mineral
identification and bench scale concentrate preparation, which encouraged us to advance to the next stage. We now look
forward to learning more from Les Heymann and the team at SGS Minerals Services. Both the imminent NI 43-101 compliant
resource statement and the metallurgical results will put Norra Karr on the map as a potential REE source within Europe.”
Norra Karr demonstrates a range of features that may facilitate near term development:
Excellent infrastructure, with roads, power and water at site and active rail and port facilities in close proximity
Sweden is a mining friendly jurisdiction. Large mines operate within 90 km of the site, providing a skilled local work
force and mining related contractors
Numerous intersections of mineralisation are greater than 100 m true thickness, which begin at surface and remain
open at depth, suggesting a significant mineralised volume plus amenability to shallow open pit mining
An unusually high proportion of high value heavy rare earth oxides (HREO). Using a 0.4% TREO cutoff on data from
Tasman‟s 26 drill holes, the weighted average of HREO/TREO exceeds 50%.
An unusually high proportion of yttrium and dysprosium, two rare earth elements in scarce supply with strong
demand. Data from Tasman‟s drilling show Dy2O3/TREO averages 4.8% and Y2O3/TREO averages 34.6%
Work by Dr Tony Mariano suggest REE‟s are concentrated in one mineral only, allowing focused metallurgical
research and potentially simplified processing
Norra Karr is unusually low in uranium and thorium relative to peer company projects. The site will not require any special
permitting or monitoring for radioactivity, and transport of concentrates will not require radioactive permitting. Uranium and
thorium average 14 ppm and 8 ppm respectively. Sweden is the home of REEs, many of which were first discovered in a quarry
in the village of Ytterby, near Stockholm. REE consumption is growing, being essential in the production of hybrid/electric cars,
solar panels, wind turbines, compact fluorescent lighting, high-energy magnets, mobile phones and computers. Tasman hold
numerous claims and claim applications across mining friendly regions in Scandinavia with potential for REEs, and is well
placed as the European Union is actively supporting policies to promote the domestic supply of REE‟s to secure high-tech
industry. www.tasmanmetals.com
Country: BURKINA FASO Owner in CANADA GOLD
November 16: Orezone Gold Corp has started an extensive 120,000 m drill program to further infill and expand gold resources
at its wholly owned Bomboré project in Burkina Faso, West Africa. Indicated resources of 1.6 Moz and Inferred resources of 1.9
Moz grading an average of 0.9 g/t are contained within optimised open pit shells using current economic and technical
parameters. Over 80% of the resources are located in the top 80 m from surface. Since drilling only averages 60 m deep to
date, there is immediate potential to add more resources by drilling beneath and along strike of the current resources.
The first of several planned core rigs has recently started drilling which will focus on expanding and testing the continuity of the
sulphide resources at depths between 60 to 120 m. The first results from the new drilling are expected to be reported before
year end. To date, the company has secured three core rigs and one RC rig and additional core rigs will be required to
complete the 120,000 m program.
In January 2011 the RC rig is expected to commence an infill and expansion drill program focused on the surface oxide
resources in conjunction with the deeper sulphide core drilling program. To assist with the expansion drill program of the
surface oxide resources, the company has just completed a high-resolution airborne geophysical survey over the entire
Bomboré gold project.
A PEA of the project is already underway to study both heap leach and CIL plant scenarios and is expected to be completed in
Q1 2011. www.orezone.com
Country: AUSTRALIA Owner in AUSTRALIA COPPER/GOLD
November 17: Syndicated Metals Ltd has completed a substantial upgrade of the previous mineral resource estimates for its
Barbara copper-gold deposit contained within the broader Mount Remarkable project area in the Mount Isa region of Northwest
Queensland.
Resources By Classification - Copper Zone - 1% Cu cut-off
Category T Cu % Au g/t Ag g/t Co ppm *Cueq% Cu t Au oz Ag oz Co t *CuEq t
Indicated 3,778,00
0
1.6 0.2 2.7 265 1.8 59,000 18,000 328,000 1,000 68,000
Inferred 1,552,00
0
1.1 0.1 2.0 272 1.3 17,000 6,000 102,000 400 20,000
Total 5,331,00
0
1.4 0.1 2.5 267 1.7 76,000 25,000 430,000 1,400 89,000

9. Category T Cu % Au g/t Ag g/t Co ppm *Cueq% Cu t Au oz Ag oz Co t *CuEq t
Indicated 1,913,000 2.4 0.2 4.1 366 2.7 45,000 14,000 249,000 700 52,000
Inferred 686,000 1.5 0.2 2.9 297 1.8 10,000 4,000 64,000 200 12,000
Total 2,598,000 2.1 0.2 3.7 348 2.5 56,000 17,000 312,000 900 64,000
Approximately 2% of the resource has been classified as either oxide or transitional material.
Preliminary metallurgical studies have indicated that the sulphide copper mineralisation at Barbara is amenable to conventional
flotation and extraction processes with acceptable recovery of copper to concentrate and concentrate grade being achieved.
The near surface copper mineralisation could be amenable to shallow, low-cost open pit mining with the higher grade material
below the limits of an open pit potentially recoverable by underground mining methods.
Syndicated listed on the ASX in December 2007 and has since generated a significant metal resource inventory in the Mount
Isa region comprising its interests in the Barbara (copper-gold) and Kalman South (molybdenum-rhenium-copper-gold)
deposits.
The Mount Remarkable project (including the Barbara copper deposit) comprises a group of mostly contiguous tenements
covering over 1100 square km. The project tenements are located about 60 km northeast of Mount Isa within close proximity to
existing infrastructure and are considered prospective for copper-gold and sediment hosted lead-zinc-silver style mineralisation.
Historical uranium prospects are also present within the tenements. www.syndicatedmetals.com.au
Country: CANADA Owner in CANADA TIN/INDIUM/POLYMETALLIC
November 17: Avalon Rare Metals has provided a progress report on its 2010 work programs on the East Kemptville tin-
indium project. These programs involved 1) continuing evaluation of the development potential of historical tin resources on the
company's Special Licence at the past-producing East Kemptville mine and 2) a grass-roots exploration program on the
company's neighbouring Ike's Ridge tin indium prospect.
A work program proposal was submitted to the government of Nova Scotia and Rio Algom, the holder of surface tenure at the
East Kemptville mine site, to access the site to carry out sampling. In the meantime, the company applied for, and received, a
12 month extension of time to complete the expenditure obligations under the Special Licence which total about $1.5 million.
A $500,000 grass roots exploration program was carried out in 2010 program to test targets for additional tin / rare metal
resources on the company's 100% owned, 12,520 acre Ikes Ridge property, neighbouring the company's East Kemptville
Special Licence.
Three promising target areas, Gardners Meadow (GM), Ikes Ridge (IK) and the Northeast Extension (NE) Area were identified
from regional compilation, prospecting and geochemical sampling work. All are located within 6 km of the East Kemptville mine
property. The most encouraging results were obtained from the Gardners Meadow Area where coincident geochemical and
geophysical targets returned several 0.10 to 3.00 m wide zones of highly anomalous, polymetallic, tin-indium mineralisation
associated with weakly developed zones of quartz-sulphide veining and alteration in meta-sedimentary rocks. The best
individual assay returned 0.26% tin. 0.96% zinc, 0.12% copper, 3 g/t silver and 22 ppm indium across 1.75 m.
Narrow, semi-massive sulphide mineralisation (mainly pyrrhotite) encountered in the drilling explains the IP responses. The
model was to test for a mineralised East Kemptville style granite at depth but no definitive evidence for such a body was
observed, although it could still exist at greater depths. The Ikes Ridge area produced similar narrow intersections in two of the
three holes, ranging from 0.3 to 0.8 m assaying 0.12 to 0.26% tin associated with greisen style sulphide mineralisation at the
granite sedimentary contact. The third hole at Ikes Ridge intersected a barren shear zone.
Three drill holes, NE-10-01 to 03, were completed to the northeast of the East Kemptville mine, referred to as the Northeast
Extension area. The holes were targeted on IP and geochemical anomalies on trend with the known deposits. No significant tin
mineralisation was intersected in these holes, but hole NE-10-03 did encountered numerous low grade zinc intercepts including
0.121% Zn over 2.2m and 0.255% Zn over 1.1m. This suggests potential for additional East Kemptville style mineralisation in
the area. There are no immediate plans for further drilling on the Ike's Ridge property while additional compilation and target
definition work is completed. www.avalonraremetals.com
Country: LIBERIA Owner in UK GOLD
November 17: African Aura Mining has announced the results of an independent mineral resource estimate for the company's
wholly owned New Liberty gold project located in western Liberia. The PEA of the New Liberty mine is expected to be complete
by the end of 2010. Luis da Silva, Chief Executive of African Aura:"The resource estimate offers the opportunity to achieve our
objective of developing an open pit gold mine with the potential to produce roughly 100,000 oz/y. We are particularly pleased
with the much higher grade of 4.17 g/t for the 751,000 oz in the indicated category, all of which are within an open pit depth of
200 m from surface. New Liberty remains open at depth and we anticipate that substantial further resources may be defined by
deeper drilling in future.”
The total resource estimate of 1.51 Moz of gold grading 3.78 g/t is comprised of 5.59 Mt grading 4.17 g/t (for 751,000 oz) in the
indicated category and 7.04 Mt grading 3.40 g/t (for 762,000 oz) in the inferred category. The indicated resource has been
projected to an approximate depth of 200 m below surface. The inferred resource remains open down dip and open along
strike.
New Liberty NI 43-101 mineral resources
Zone
Indicated Inferred
T Au T Au
(Kt) (g/t) (KOz) (Kt) (g/t) (KOz)
Larjor 1637 4.37 230 2109 3.5 234
Latiff 1080 5.03 175 380 4.2 51
Kinjor 1449 4.26 198 2310 3.8 280
Marvoe 1433 3.21 148 2230 2.8 198
Total 5599 4.17 751 7040 3.4 762

10. The results of statistical analysis demonstrated that the mineralised zones have a range of mean grades (from 1.61g/t Au to
6.47g/t Au), but the corresponding coefficients of variation fall within a relatively narrow window (1.18 -- 1.53).
Some of the gold may be recoverable by a gravity method, suggesting potential for pre-concentration of the sample prior to
leaching. The 2006 work confirmed the responsiveness to gravity recovery, suggesting that greater than 50% gravity recovery
is achievable, and an overall recovery of 93% can be obtained by a combination of gravity and carbon-in-leach (CIL)
processes.
The best drill intersect from New Liberty is currently 8.45 g/t Au over 37m from 55m depth and the deposit, which crops out at
surface, remains open at depth. Metallurgical testwork undertaken by the company on drill core from New Liberty has indicated
a non-refractory ore with excellent expected recoveries of up to 93%. New Liberty is one of a series of gold deposits, including
the Ndablama and Weaju prospects, located within the company's 457km2 'Class A' 25 year renewable Mining Licence.
www.african-aura.com
Country: REPUBLIC OF CONGO Owner in REPUBLIC OF CONGO IRON ORE
November 18: Zanaga Iron Ore has announced a placing of new and existing shares which has raised gross proceeds of
£62.1 million ($100 million). The placing of the shares will raise £31.06 million ($50 million), before expenses.
Zanaga Iron Ore is focused on the management, development and construction of a world class iron ore project, located in the
south west of the Republic of Congo (Congo Brazzaville). Zanaga owns, through its wholly owned subsidiary Jumelles Ltd,
100% of Mining Project Development Congo S.A.U. which owns two exclusive exploration licences, each covering 500 km²,
the Zanaga-Madzoumou Exploration Licence and the Zanaga-Bambama Exploration Licence (Zanaga Exploration Licences).
The company has a large scale mineral resource of approximately 3,340 Mt at an average grade of 32.8% FeT. This is
comprised of 843 Mt of haematitic itabirite with an average grade of 38.5% FeT and 2,490 Mt of magnetite with an average
grade of 30.82% Fe. This resource has been defined as a result of drilling that has taken place on only 25 km of an indicated
47 km strike of magnetite mineralisation.
The Zanaga project has targeted annual output at 45 Mt/y of iron ore concentrate once full capacity is reached. Based on
metallurgical test work to date, the company is targeting production of two high quality products, namely: a 65% Fe sinter
product and a 67% Fe concentrate product, both with low deleterious elements.
The company has reached an advanced stage of exploration with a prefeasibility study (PFS) on the Zanaga project expected
to be finalised by the end of Q1 2011. Following completion of the PFS, the company aims to commence a bankable study (FS)
before moving towards construction and production. www.zanagairon.com
FEASIBILITY STAGE
Country: PERU Owner in CHINA IRON ORE
November 5: Jinzhao Mining Peru, operator of the Pampa de Pongo iron project, located in the Arequipa region, plans to drill
about 50 holes (40,000 m), to further delineate the resource, Deputy General Manager, Xiaouang Tang, told MinerAndina.e.
This drilling campaign will also allow for the gathering of information necessary to conclude prefeasibility and feasibility studies
in 2011.
This project is considered the second largest of its kind in Peru, after the Apurimac project. Apurimac is operated by the junior
miner Strike Resources in the Apurímac region. "The semi-detailed Environmental Impact Assessment approved by the
Ministry of Energy and Mines gives us the permit to drill up to 100 holes in Pampa de Pongo, but we will only carry out 50.
What we are doing in Pampa de Pongo is a study that combines the prefeasibility and the feasibility," stated Tang, who added
that Jinzhao will start the EIA following the completion of the feasibility study. The EIA is scheduled for completion by 2012.
He said that Jinzhao has been optimising the preliminary economic assessment which was developed in 2008 by the previous
project operator, junior firm Cardero Resources. He stated that the Chinese company holds a different technical opinion than
that of Cardero in that study. For example, the benefit of implementing an open-pit operation rather than a large-scale
underground mining operation as was proposed by the Canadian company.
The Chinese company is also contemplating to reduce the capacity of the project. Cardero proposed a production of 24 Mt/y of
concentrates, but Jinzhao deems it more feasible to produce 10 Mt.
The Pampa de Pongo project is located in the district of Bella Union, province of Caraveli, Arequipa región, over an effective
area of 3,019 ha. This iron oxide/copper/gold (IOCG) type deposit was discovered by Rio Tinto in 1994; acquired by Cardero
Resources in 2008 and subsequently sold to the Chinese mining company, Nanjinzhao Group Co, the parent company of
Jinzhao Mining Peru, for $200 million.
Country: TANZANIA Owner in AUSTRALIA COAL
November 6: Atomic Resources has entered into an agreement to raise A$5 million in a placement. The subscriber to the
placement is Aspac Mining, an entity owned and managed by Graeme Robertson. As a term of the placement, and in
recognition of his extensive coal industry experience, the board of Atomic Resources has invited Robertson to accept an
appointment as a non executive chairman of the company. He has been a very strong supporter of the company and its plans
to develop a major thermal coal mining operation in the southwest region of Tanzania. He has been responsible for pioneering
and managing world class mining, energy and transport infrastructure operations throughout Africa, Australia and the Asia-
Pacific region. He was CEO and developer of the largest open-pit coal mine in the Southern Hemisphere, PT Adaro Indonesia,
and is a former Managing Director of New Hope Corp (1987 – 2005). In 2010, Robertson was awarded the Coaltrans Lifetime
Achievement Award for his contribution to the coal industry.
The funds raised will be used to fund a near-surface drilling and exploration program at the Mbuyura/Mkapa and Mbalawala
coalfields in the Ngaka Coal Basin, commencing in December 2010 and will enable Atomic to commence small-scale coal
mining before the end of this calendar year. The Ngaka thermal coal project is Atomic Resources‟ most advanced and exciting
development project. The Ngaka coalfields are situated in the resource-rich western minerals province of Tanzania,
approximately 600 km from the major port city of Dar Es Salaam.

11. Atomic, through its 100% owned subsidiary Pacific Corporation East Africa (PCEA) has entered into a joint venture with the
Tanzanian Government (Tancoal - PCEA 70%/Tanzanian Government 30%) to conduct a Bankable Feasibility Study into the
development of a thermal coal mining operation at Ngaka and the development of a 400 MW power station, using proven clean
coal gasification technology, at the Ngaka mine site.
The electricity produced by the proposed power station at Ngaka will increase Tanzania‟s national power supply by
approximately 40% and is considered to be a vitally important “nation building project” by the Tanzanian Government. Ngaka
has a JORC-compliant resource of 179 Mt of thermal coal. Additional coal resources may be identified in the future through
further exploration at Ngaka and at the recently granted concessions in the nearby Mbuyura and Mkapa coal fields.
Initial coal production of 1 Mt/y for the first two to three years will increase to 2 Mt/y once the power station becomes
operational. Coal that is not sold to the power station will be available for sale to other customers in Tanzania and for export to
markets in Africa and Asia. Mining at Ngaka is expected to commence within 12 months of the completion of the BFS. The BFS
started in May 2009 and is expected to be completed soon. It will focus on three strategic components:
Mining of thermal coal for on-site power generation and export
Development and project financing for a coal gasification plant and 400Mw power station using coal gasification
technology
Development of a private public partnership with TANESCO (the Tanzanian Governments electrical authority) for the
construction of power transmission lines to connect the Ngaka project to the Tanzanian power grid.
www.atomicresources.com.au
Country: AUSTRALIA Owner in AUSTRALIA COAL
WorleyParsons and Ausenco have won a significant contract to manage the delivery of Hancock Coal's A$7.5 billion Alpha
Coal Project in Queensland. WorleyParsons and Ausenco will provide program management services to the project in a 50%
joint venture throughout the next four years. Hancock Coal and Hancock Galilee are focused on the Alpha Coal and Kevin's
Corner Projects in the Galilee Basin. The projects include development of two adjacent 30 Mt/y thermal coal mines.
In the 1970s, resource exploration started in the Galilee Basin, which was considered to be uneconomic due to the lack of
associated infrastructure on Australia's east coast. Now, some 30 years later, with more developed rail and port infrastructure
coupled with the global demand for coal fired power, there is an exciting opportunity for this area of regional Queensland. This
project includes associated port and rail infrastructure. Each mine has an expected life of 30-plus years.
The Alpha Coal and Kevin's Corner projects moved into the Bankable Feasibility Study (BFS) phase earlier this year. This work
is continuing along with the Environmental Impact Statement (EIS) studies currently being undertaken for both projects.
In April, the North Queensland Bulk Ports Corporation (NQBP) announced the awarding of Preferred Developer status to
Hancock Coal and BHP Billiton for two major expansions at the Port of Abbot Point. The preferred developers were chosen
following a competitive process whereby they were able to demonstrate that they offer the best opportunity to optimise the use
of the land and achieve the best tonnage throughput. The Queensland Government endorsed the proposals from the two
companies to build two new coal terminals at Abbot Point to export an estimated 110 Mt/y of coal.
On the July 2 2010, Premier Anna Bligh announced the Declaration by the Coordinator-General of the proposed Hancock rail
corridor, an essential milestone towards the Alpha coal mine. The corridor has been declared an Infrastructure Facility of
Significance (IFS). The proposed 495 km standard gauge railway will run from Hancock's Alpha mine to the Port at Abbot Point.
The Kevin's Corner mine will also use the railway. The approval was significant in that it can only be sought by projects which
meet the strict definition of an infrastructure facility and also have the potential to contribute to the State through economic
growth and job creation.
The port and rail infrastructure associated with the Hancock projects will directly contribute to the State's economy. The
development of the Hancock railway from the Alpha and Kevin's Corner projects to Abbot Point near Bowen is an integral
requirement for the development of the mines.
In September, Hancock Coal started work on a temporary bulk coal sample project at its Alpha coal tenement approximately 60
km northwest of the town of Alpha. The bulk sample project plays an important role in securing the long-term viability of the two
proposed future coal projects.
Hancock's Bulk Sample Project will extract up to 450,000 t of thermal coal from the bulk sample pit site near Alpha, with the first
stage being 120,000 t. As part of the project, Hancock will wash the coal prior to export.
Hancock's current plan is for the transportation of coal by truck from Alpha to an offsite coal preparation plant near Blackwater
for washing, before trucking to an en route rail loading facility for rail transport to the coal terminal near Gladstone. The road
transportation component of the project will take approximately four months starting early in 2011. All loads will be covered as
an added measure. The transportation by road will only apply to the Bulk Sample Project. Future projects, Alpha Coal and
Kevin's Corner operations will rely on the proposed Alpha to Abbot Point railway line.
Paul Mulder, Managing Director of Hancock Coal announced the appointment of Thiess as the Bulk Sample Pit operator, and
Wagners as the transport contractor. "Both companies place safety and the environment as key priorities" he said.
www.hancockcoal.com.au
Country: USA Owner in AUSTRALIA/CANADA COPPER/MOLYBDENUM
November 9: Electrum Resources notes the announcement made by THEMAC Resources regarding a C$10.2 million
financing of THEMAC by Marley Holdings, THEMAC's majority shareholder. Marley (or its affiliate Tulla Resources) is to
purchase 40,000,000 units of THEMAC, each unit consisting of one common share and one common share purchase warran.
The financing is expected to enable completion of the purchase by THEMAC of Electrum's exclusive option over a 100%
interest in the Copper Flat copper-molybdenum-gold-silver project in New Mexico, USA and to provide funding for the exercise
of the Option thereafter. The proceeds of the Financing will also fund ongoing feasibility, permitting and other development
work at the Copper Flat project.

12. After completion of the Transaction and the Financing, Electrum's total shareholding in THEMAC will be equivalent to
approximately 20% of THEMAC' issued common shares. Following the exercise of Electrum's warrants along with all warrants
and options held by other parties, the company's interest in THEMAC would be approximately 22%.
Patrick Harford, Managing Director of Electrum: "Completion of the Transaction will give Electrum a significant shareholding in
THEMAC, which will as a result of the Financing be well funded to continue advancing the Copper Flat project through
feasibility and permitting with the objective of returning the project to production as soon as possible."
A preliminary economic assessment was completed for the Copper Flat project by SRK Consulting (US), Inc. in June, 2010 with
robust results despite exclusion of gold and silver from economic model:
Mine life of 17 years and payback 1.75 years from start of production
NPV (6%) $144 million; initial capital $179 million
Average annual production of 36 Mlb copper and 628,000 lb molybdenum over first 14 years with average production
of 15 Mlb/y copper and 335,000 lb/y molybdenum over a further 3-4 years
Life-of-mine operating costs $1.41/lb copper, excluding gold and silver credits
The PEA was based on copper and molybdenum only (copper at $3/lb and molybdenum at $12/lb), with gold and silver to be
brought to account in financial model as soon as possible
SRK Consulting (US) mineral resource estimate, May 6, 2010
Classification Mt Cu (%) Cu (Mlb) Mo (%) Mo (Mlb)
Indicated 97.05 0.303 645 0.010 21.4
Inferred 41.7 0.240 222 0.006 5.6
Reported at a cutoff grade of 0.12% Cu contained within a potentially
Marley Holdings is controlled by Kevin Maloney, a director of THEMAC and founder of The MAC Services Group, Australia's
largest listed provider of remote area mining accommodation and services.
Electrum Resources is a mineral and renewable energy development company with interests in Argentina, the USA, Indonesia,
Thailand and Australia. Its interests in Argentina include the Sierra de las Minas and Los Aquirres gold/base metal projects, at
which it is pursuing a exploration oriented around high-grade, smaller tonnage targets potentially suitable for progression
towards early mining. www.electrum-resources.com
Country: USA Owner in CANADA GOLD
November 9: Romarco Minerals is a gold development company focused on production in the US and Mexico. Its flagship
project is the Haile gold mine in South Carolina which is currently in the process of a feasibility study and continued exploration
drilling. The Pinos Gold District in Mexico is a high grade epithermal vein district in the advanced exploration stage.
Romarco has successfully drilled and condemned the current proposed tailings location for Haile (Duckwood). The tailings area
itself will encompass 510 acres of a more than 1,000 acre continuous land parcel. With successful condemnation drilling for a
tailings location Romarco is now moving into the final phases of the feasibility study including mine modelling and planning,
operating and capital cost estimations, cash flow analysis and final permit applications. With the increase in the drill rig fleet
from six to nine rigs, the company will resume primarily drilling for ore.
Romarco also recently held a groundbreaking ceremony to mark the construction start of an analytical and metallurgical lab at
Haile. The laboratory will be seeking independent accreditation and will transition to the operating lab on production. While
third-party check assays and verifications will remain critical, the completion of the lab will allow greatly reduced turnaround
time for assays.
Rudy Carter, Lancaster County Council Chairman stated, "The residents of Lancaster County and Lancaster County Council
are excited about the continued progress being made at the Haile gold mine. The people of Lancaster County are fully
supportive of the mine reopening and this new $5 million lab and creation of additional jobs is further proof of Haile's
commitment to Lancaster County. We welcome this new facility and look forward to a long and prosperous relationship with the
company in Lancaster County."
M3 Engineering and Technology is providing the design and engineering services for the project. Compass Development is
providing construction management services for the project. The facility is expected to be completed by June 2011. Charlie
Foote, a former senior assayer at Kennecott's Ridgeway mine, has been employed by Romarco as the Senior Lab Coordinator
and Romarco is actively recruiting for the chemist and metallurgist positions. The road to the assay lab will be named Rex
Outzen Road in memory of Romarco's first Chief Operating Officer who passed away in 2008.
The TSX has granted conditional approval for the listing of Romarco's shares. The company is in the process of co-ordinating
the arrangements for listing on the TSX and de-listing from the TSX-V. www.romarco.com
Country: AUSTRALIA Owner in AUSTRALIA RARE EARTHS
November 10: Arafura Resources Ltd has entered into a contractual arrangement with Parsons Brinckerhoff to join Arafura‟s
existing staff and create the larger integrated client team now required for the management of the completion of the engineering
aspects of its BFS. With the recent decision on the Whyalla site location, for the Rare Earths Complex, Arafura is on track to
complete the BFS for the Nolans project in Q4 2011. The remaining engineering work on the BFS will gather together all
previous bodies of work and advance and finalise the engineering and project definition to a level where the information will be
ready for project financing. Arafura will be approaching “first tier” process consulting/EPCM organisations to complete the study
program as their study contractor.
Parsons Brinckerhoff will bring project management systems and processes as well as personnel into the company‟s project
team to help manage the study contractor during this final phase of the study. Arafura‟s Managing Director and CEO, Dr Steve
Ward: “Our recent successful capital raising has provided the funds for us to drive forward with our Nolans project plan at full
pace.”
Arafura Resources will, in the next few years, become a long term supplier of rare earth oxides, phosphoric acid, uranium oxide
and gypsum from its wholly owned Nolans project. The Nolans project comprises operations at two sites within Australia:

13. the Nolans bore mine in the Northern Territory; and
the Whyalla rare earths complex in South Australia.
As at November 2008, total identified resources for Nolans Bore are as follows:
Nolans Bore Resource Classification
Mt REO% REO (kt) P2O5% U3O8Ib/t
Measured 5.1 3.2 167 13.5 0.57
Indicated 12.3 2.8 350 13.4 0.43
Inferred 12.8 2.6 333 12.2 0.40
TOTAL 30.3 2.8 850 12.9 0.44
www.arafuraresources.com.au
Country: SOUTH AFRICA Owner in UK/AUSTRALIA PLATINUM
November 9: Platinum Australia Ltd has announced the results from the recently completed DFS report for the Kalahari
platinum (Kalplats) project, located in the north-west province of South Africa, 330 km west of Johannesburg. The DFS report
shows the project to be commercially and technically viable and able to generate a return of ~25% on the base case
assumptions based on mining seven of the eight known deposits. The DFS report has been submitted to African Rainbow
Minerals Platinum for their consideration.
The key results from the study are as follows:
The project would deliver a return of 24.5% on the Base Case or 27.8% at current prices;
The project would achieve a pre tax NPV10 of $79 million on the Base case or $108 million at current prices;
The project would generate a net cash flow (undiscounted) of US$211 Million on the Base Case or $267 million at
current prices;
Initial Capital Cost of the project would be $150 million;
Cash Operating Cost of $415/oz 3E (platinum + palladium + gold) concentrate produced on the Base Case or
$462/oz 3E at current prices;
The project would produce 992,000 oz 3E over a 9 year operating life from open pit mining of seven deposits, Crater,
Orion, Crux, Sirius, Mira, Serpens North and Vela;
Construction power from Eskom would be available in 2011, while permanent power would be available in 2014;
PLA Managing Director John Lewins: “The results of the Kalplats DFS show that a project based on seven of the eight known
deposits would achieve an IRR of almost 25% at the Base Case and almost 28% at Current (October 2010) prices. In addition
the study is based on only the Measured and Indicated high grade resource, which equates to 1.55 Moz 3E, the balance of
1.75 Moz 3E being in the Inferred category”. www.platinumaus.com.au
Country: IVORY COAST Owner in AUSTRALIA GOLD
November 9: Perseus Mining has announced details of its feasibility study for the Sissingue deposit which forms part of the
company‟s Tengrela gold project (TGP) in Côte d‟Ivoire. In summary, the FS confirms the robust project economics of the TGP
as well as the upside potential that exists from ongoing resource definition drilling. Highlights of the Tengrela FS;
Initial Probable ore reserve of 657,000oz of gold (using $950 gold price pit design).
Production of 340,000 oz (3.5 Mt at 3.3 g/t) of gold in first two years of a six year mine life.
Cash costs (C1) in the first two years of $421/oz, with mine life average cash costs of $505/oz.
EBITDA of $221 million for first two years of production at $1,100 gold price.
Start-up capital cost of $115 million paid back in 14 months at $1,100 gold price.
Plan to advance as fast as practicable, targeting first gold pour Q4 2012.
Ongoing aggressive drilling will provide resource growth and extend mine life – next upgrade scheduled for Q1 2011
Mark Calderwood, Managing Director: “The robust outcome of the FS has provided Perseus with the basis for a decision to
proceed with project permitting and construction planning for the Sissingue deposit on the Tengrela Gold project. Even at a
gold price under $900/oz, the FS provides a payback period under two years.”
“Perseus now has combined reserves of 2.79 Moz between the TGP and the Central Ashanti Gold project (CAGP) in Ghana
and we are anticipating another significant reserve upgrade for the CAGP in December 2010.”
“Though Measured and Indicated resources were limited as a function of drilling density, we fast tracked the Sissingue FS to
enable an early start to be made to the approval process and planning. Assuming that site construction can begin in 12 months,
we would expect production to commence in Q4 2012.”
“We are confident that with further drilling we will convert existing Inferred mineral resources to the Indicated category during
Q1 2011, thereby potentially adding a further 200,000 oz to the $950/oz pit shell model. In addition, extensional drilling
following up on recent drill hits is likely to further expand our inventory of mineral Resources and, ultimately, reserves.”
“Also, increasing the drilling density in the high grade zones within the existing Indicated resource envelope may provide the
statistical grounds to increase the top cut that has been applied to drill results, potentially allowing us to include some of the
280,000 oz (or 40%) of the gold top cut out of the mineral resource used in the calculation of stage 1 and 2 ore reserves.”
www.perseusmining.com

14. Country: TURKEY Owner in UK GOLD
November 9: Stratex International has announced a positive development update of its Inlice and Altyntepe gold projects
located in Turkey, which are being advanced with its joint venture partner NTF Insaat Ticaret Ltd Sti (NTF) with a target of first
gold production by Q1 2012. Highlights include;
Feasibility study at the Inlice gold project will be finalised by January 2011
Preliminary open pit planning, waste storage, plant design and related cost calculations now well advanced
Inlice Exploration Licence now converted to Operation Licence, clearing the way to commence the permitting process
immediately after completion of the Environmental Impact Assessment report
Metallurgical test work at Inlice demonstrates leach recoveries of 85% to greater than <90% for oxide material
Early indications of good leach recoveries from talus material overlying bedrock resource
Initial mine production planned at 1,000 t/day with leach-heap capacity designed for 1 Mt - option to increase to 3 Mt
to allow for increased production
High-grade oxide material at Altyntepe confirmed with best intersections of 43.00 m averaging 5.39 g/t gold and
41.00 m averaging 3.08 g/t gold
Stratex International‟s CEO Bob Foster: “As the feasibility study at our Inlice gold project draws close to conclusion we are one
step closer to establishing ourselves as a gold producer in Turkey to take optimum advantage of the high gold price whilst
minimising capital costs. The very positive leaching results reported here, together with the results of the other technical
studies, will enable the financial modelling of this project to be completed and the final report submitted in January 2011. The
ongoing EIA study is due to be completed by June 2011. Following completion of the permitting process, the processing plant
will be constructed within three months, which will see Stratex move into gold production at Inlice in early 2012.
“Following completion of the preliminary resource drilling of the Extension Ridge Zone at Altyntepe, we are now well placed to
revise and upgrade the previously identified resources of this much larger oxide-gold project, with a view to commencing the full
feasibility study in early 2011.
The development of the Inlice and Altyntepe gold projects, which contain a current combined oxide Au resource of about
570,000 oz, is being funded by the company‟s joint venture partner NTF through NS Madencilik Sanayi Ticaret Anonim Sti (NS
Madencilik), the joint-venture development company 45% owned by Stratex.
The previously reported resource for the Inlice project comprises 262,300 oz Au using a geologically well defined cut-off grade
of 0.1 g/t Au. The open pit, in situ, oxide resource was 944,495 t grading 2.29 g/t Au for 69,324 oz but this resource is currently
being revised as an integral part of the feasibility study.
At Altintepe, the oxide resource currently stands at 472,318 oz Au, comprising 13,098,137 t grading 1.12 g/t Au in all categories
at a cut-off of 0.2 g/t Au and including 8.3 Mt grading 1.48 g/t Au. However this will be revised in the light of the new drilling
results reported below.
Inlice
200 kg bulk samples of gold-bearing oxide material from the main Ana Zone, have been subjected to leach tests to determine
the leach characteristics of both oxide and underlying mixed oxide-sulphide (transition) material. Results indicate recoveries of
85% to greater than 90% for oxide material crushed to -19 mm, and more than 60% for mixed oxide-sulphide material.
Design criteria for both the mine and the processing plant are essentially complete and are based on an initial operational
capacity of 1,000 t/day. The pit design comprises two pits, one on the Ana West Zone and a second on the nearby Ana East
Zone, the two being separated by what has been named in the past as the „Gap Zone‟, a 150 m-wide low-lying area underlain
by relatively high-grade gold-in-sulphide material that might be exploited at a later date.
The leach heap will initially be constructed to contain 1 Mt of material but is being designed such that it can easily be expanded
to contain up to 3 Mt.
Altyntepe
Drilling of the Extension Ridge Zone has now been completed with the focus on the oxide material that caps the low ridge.
Although the drilling invariably intersected underlying sulphide material, sometimes over significant lengths (for example 34.50
m @ 1.20 g/t Au in ER-DD-11), the programme was designed to provide data for estimation of the oxide-gold resource that has
the potential to be readily exploited using the same heap-leaching technology planned for the Inlice project.
The high grade oxide-gold intersections returned by holes ER-DD-07 and ER-DD-10 demonstrate the presence of a high-grade
core to the Extension Ridge Zone that was first highlighted by the results released in an RNS dated 26 August 2010:
ER-DD-01: 37.90 m from surface averaging 6.17 g/t Au
ER-DD-02: 17.00 m averaging from surface averaging 3.47 g/t Au
www.stratexexploration.com
Country: USA Owner in USA COPPER
November 9: Nevada Copper Corp has announced the results of latest feasibility level metallurgical test work on its Pumpkin
Hollow project ore composites. These results, which confirm the preliminary metallurgical test work disclosed in a January 2010
PEA, will be incorporated into a DFS which is anticipated for completion by June 30, 2011. Preliminary work on the DFS is
expected to begin within a week.
The results on composite samples from the four ore zones indicate uncomplicated metallurgy and ores with a moderate work
index that can produce gold and silver-bearing, high grade copper flotation concentrates with high copper recoveries and a
relatively coarse primary grind.

15. Copper Recovery vs. Concentrate Grade*
Deposit
Copper
Recovery %
Copper Concentrate
Grade %
North 90.1 25.4
East 94.8 23.6
South 85.4 28.5
E2 93.5 30.3
* Optimum results based on maximising net smelter return.
Nevada Copper's Executive Vice President, Robert McKnight: "The project is capable of producing a high-quality saleable
copper concentrate and we expect to be able to secure a very favourable off-take agreement for this product going forward."
The primary metallic minerals include chalcopyrite, pyrite and magnetite, with magnetite representing 20-30% of the total
content of three of the four composites. The process flow sheet is conventional, with primary and secondary crushing followed
a SAG/ball mill and rougher and cleaner copper concentrate flotation and regrind circuits. Use of high pressure grinding roll
(HPGR) technology will be investigated as an alternative to the SAG mill for reduced power consumption. Because the E2 and
South deposits are elevated in pyrite, the facility will also incorporate a pyrite flotation circuit in order to recover, thicken, filter
and ultimately sequester this mineral, to reduce acid generation potential. www.nevadacopper.com
Country: CHILE Owner in UK ZINC/LEAD/SILVER/GOLD/COPPER
November 10: Herencia Resources has provided an update on the Paguanta project in northern Chile. The Paguanta project,
which is 70% owned and managed by Herencia, comprises the Patricia JORC-compliant zinc-lead-silver-gold mineral resource,
the Doris high grade copper/silver target and the La Rosa porphyry-copper prospect, all located within the same granted mining
tenements.
The company has updated the economic model for the Paguanta project using spot commodity prices for zinc, lead and silver
as at 5 November 2010. The result, using the assumptions set out below and the existing 1.66 Mt mining inventory, is a NPV of
$90.4 million. Given the projects significant potential for tonnage increases, as demonstrated by the positive results from the
2010 drill program, two sensitivity cases were prepared based on the upside potential for the project, assuming additional
tonnage was identified by further drilling:
Post-feasibility study case (6 years @ 400,000 t/y = 2.4Mt) NPV(8%) = $139.5 million
Upside case (8.25 years @ 400,000 t/y = 3.3 Mt) NPV(8%) = $184.9 million
The post-feasibility study case assumes an additional 740,000 t are added to the mining inventory in 2011 and the upside case
assumes that the current mining inventory of 1.66 Mt is doubled. Key assumptions include:
100% project value
Discount rate of 8%
Throughput - 400,000 t/y
Capital cost - $56 million
Operating costs increased to reflect 400,000 t/y throughput
Zinc price - $1.12/lb ($2,468/t)
Lead price - $1.13/lb ($2,490/t)
Silver price - $26.78/oz
Assumed gold revenue (0.26g/t at 50% recovery and $1000/oz)
Doris Update: The company is currently obtaining submissions from leading geophysical survey companies in Chile in relation
to a geophysical program over Doris. At this stage it is planned to undertake the fieldwork in December this year, subject to
crew availability. Currently, surface geological investigation continues on site with breccia zones, stockworks and quartz
outcrops recently mapped at La Rosa.
The company is working closely with selected consultants in relation to the proposed feasibility study. The goal is to finalise the
scope and cost by month end. Managing Director Michael Bohm: “This significant increase to project NPV is a function of
increased tonnage, increased grade and improved commodity prices. What is also significant is the sensitivity to tonnage
upside, particularly given the mineralisation remains open at depth, along strike, and with new high grade veins awaiting
potential expansion. It is worth noting that we added significantly to both the resource base and the NPV in 2010, with only
5,700 m of drilling." www.herenciaresources.com
Country: BRAZIL Owner in CANADA GOLD
November 10: Guyana Goldfields has announced that, due to the identification of several additional mineralised zones at
Aurora and the nearby Sulphur Rose discovery (Aranka), the feasibility study which was scheduled for completion by year end
will be deferred. These discoveries are sufficiently significant that their integration into the feasibility study may have a
materially positive impact and must be evaluated. Accordingly, the planned 2011 drilling programs will be significantly
expanded.
Since March 24, 2010, the DFS drill cut-off date, an additional 36,748 m of drilling has been completed at Aurora, enabling
significant growth of the three newest zones identified within the Golden Square Mile. These zones have been tested with forty-
three drill holes and remain open along strike and at depth. The discovery and further confirmation of these zones significantly
increases known gold mineralisation within the bounds of the Aurora gold project area. The DFS will be modified to include the
following;
Infill drilling within the Golden Square Mile completed from March 24, 2010 (the current feasibility study cut-off date),
to the end of June 2011 (the new feasibility study cut-off date), will be included in a new resource estimate to be
completed by the end of August 2011
A mine plan to include the three zones mentioned above plus assessment of any additional new zones discovered
before the end of June 2011
Assessment of the Sulphur Rose discovery
feasibility study completed in Q4 2011

16. Additionally, the company will continue to carry out civil and infrastructure works that are critical to an expanded exploration
effort and mine construction. Below are some of the key objectives and milestones for the remainder of 2010 and 2011;
Examine merits of early construction of an underground portal and access ramp to allow for earlier underground
access and additional underground exploration drilling
Complete the Hydropower feasibility study and assess its potential inclusion in the overall feasibility study
Complete negotiations with the government on the mineral Agreement and obtain the Mining License for the Aurora
gold project
Guyana Goldfields is dedicating an estimated $25-30 million for exploration in 2011 to advance both drilling programs at Aurora
and Aranka. www.guygold.com
Country: SWEDEN Owner in AUSTRALIA COPPER/IRON ORE
November 11: Avalon Minerals has begun a major new resource extension drilling program at its wholly owned Viscaria
copper-iron project in Northern Sweden. The objective of the drilling is to convert previously established exploration targets to
JORC reportable resources and to increase Avalon‟s overall JORC reported resource inventory, which comprises more than
66.2 Mt of both VMS and skarn-type mineralisation for 601,000 t of contained copper and 2.4 Mt of contained iron.
In addition, a major new regional exploration program has started targeting a number of high priority areas within Avalon‟s
tenure in the broader Kiruna region. The resource expansion and regional exploration programmes will run in parallel with the
BFS into the development of the Viscaria project.
Drilling started at D Zone on 11 November 2010 with the aim of delineating JORC reported resources in this area, where
Avalon has previously established an exploration target of 30-50 Mt at 0.5% to 1.0% Cu and 25% to 35% Fe. This area is
located to the south of the main mineralised zones at Viscaria.
Drilling will initially comprise both percussion and diamond drilling to define the copper and magnetite content of the D Zone
South at a drill spacing of 800 m. The drill programme is expected to take approximately three months to complete.
Further diamond rigs are currently being mobilised to the Viscaria site to commence resource definition drilling at the northern
end of D Zone, A Zone and B Zone over the established resource area. Resource definition drilling in these areas will continue
through the rest of 2010 and into the first half of 2011.
The planned drilling program comprises roughly 30,000 m and is aimed at increasing open pittable material from 15 Mt to 25 to
35 Mt to support the development case defined in the recently completed PFS of 3M t/y for 10 years, on which the Viscaria BFS
will be based. This target of 25 - 35 Mt of open pittable material is an interim target only.
Avalon‟s contiguous tenure in the Kiruna area contains several high priority targets identified from the recently acquired
geochemical maps of the area. These areas have not been subject to detailed exploration for several reasons. Firstly, prior to
1995 it was not possible for foreign companies to control mining projects in Sweden. Secondly, the Swedish mining industry
has generally restricted its exploration activities over the past 20-30 years to brownfields and near mine exploration.
Kurravarra
Kurravarra is approximately 10km north of Viscaria and is a 20km long target with overlying copper and magnetite
geochemistry. The Kurravarra target is located in a geologically similar environment to the Viscaria project area (66.2 Mt @
0.9% Cu resource including 9 Mt @ 0.6% Cu and 27% Fe).
Vittangijarvi
Vittangijarvi is 25 km north-west of Viscaria and is a large area (about 10 km by 6 km) of geochemical copper anomalism over
greenstone rocks of a similar age to Viscaria. The area has evidence of numerous, small-scale, alluvial copper mining
operations, and hosts several large scale magnetite rich horizons adjacent to a large granite intrusion.
Karkejaure
Karkejaure is a large (8 km by 7 km) granodiorite intrusion 50 km north of Viscaria. It carries a very large magnetic and gravity
anomaly, and wide alteration halo of magnetite iron. Karkejaure is considered prospective for large scale iron oxide-copper-
gold type mineralisation.
Kallojankka
Kallojankka is 10 km north-west of Viscaria. The prospect covers a 5 km by 2 km zone of anomalous geochemical copper
mineralisation in greenstone rocks within the Kiruna shear zone to the north-east of the operating Kiruna mine. It is targeted for
VMS style copper and base metal mineralisation related to the nearby granite intrusion. www.avalonminerals.com.au
Country: AUSTRALIA Owner in AUSTRALIA COAL
November 12: Endocoal is focused on the exploration and development of hard-coking, thermal and PCI coal projects in the
Bowen Basin. Its current tenement package includes over 5,000 km2
in the highly prized Bowen Basin region of Queensland
and are immediately adjacent to many existing coal producing mines. To date six of Endocoal's 10 tenements have been
granted by the Queensland Department of Mines and Energy which will position the company well for the future. In addition
Endocoal has registered six of its tenements, spanning approximately 2,800 km2
for the potential development of Underground
Coal Gasification (UCG). Endocoal's strategy is to develop at least two new high quality coal mines over the next three years.
www.endocoal.com.au
Country: BRAZIL Owner in AUSTRALIA GOLD
November 12: Beadell Resources has announced that JORC resources at the Tucano project have increased by 48% to 4.3
Moz. Global JORC resources for Tucano now total 90.4 Mt @ 1.5 g/t for 4.3 Moz of gold at a 0.5 g/t cut off, comprising 19.5 Mt
@ 1.5 g/t gold for 1.0 Moz of oxide which will form the main ore source for the first 3 to 4 years of the operation followed by the
primary ore which comprises a resource of 63.6 Mt @ 1.5 g/t for 3.1 Moz of gold.
The global resource comprises Measured resources from stockpiles of 7.4 Mt @ 0.8 g/t gold for 0.18 Moz. Total Indicated
resources for Tucano are 40.1 Mt @ 1.5 g/t for 2.0 Moz and total Inferred resources are 42.9 Mt @ 1.6 g/t for 2.2 Moz. All
resource models have been handed over for mining optimisation work to be completed by the end of this year as part of the
DFS, culminating in the release of a maiden JORC reserve.

17. Beadell‟s Managing Director Peter Bowler: “We are moving rapidly towards a decision to mine at completion of the DFS at the
start of next year and look forward to joining the ranks of mid tier gold producers by early 2012”
The Urucum deposit is the largest of the known gold deposits at Tucano forming a 3 km long zone of mineralisation hosted in
sheared and sulphidised BIF. Total resources for Urucum are 48.8 Mt @ 1.6 g/t for 2.5 Moz, significant oxide mineralisation
exists along the 3 km strike length totalling 7.7 Mt @ 1.3 g/t for 0.3 Moz. The primary ore, totalling 41 Mt @ 1.6 g/t for 2.2 Moz,
has been drilled to roughly 500 m below surface where ore grade intercepts remain completely open at depth.
Taperaba AB is the southernmost deposit along the main 7 km long north-trending mineralised BIF. Total resources for
Tapereba AB are 25.3 Mt @ 1.5 g/t for 1.2 Moz of gold. Total oxide resources for Taperaba AB stand at 6.7 Mt @ 1.7 g/t for 0.4
Moz of gold with underlying fresh rock primary resources of 18.6 Mt @ 1.4 g/t for 0.8 Moz of gold.
A high grade zone referred to as the Trough zone forms a central lode to the broader deposit where extremely high grade
results have been reported recently including 10.4 m @ 25.6 g/t gold and 10.3 m @ 23 g/t gold. At Tap AB 1 a gently west-
dipping lode with very low strip ratio exists where recently reported approximate true width results included 33 m @ 4.3 g/t gold
from 4 m and 19 m @ 4.5 g/t gold from 3 m.
Total resources for Tapereba C are 6.5 Mt @ 1.2 g/t for 0.3 Moz of gold. The deposit has a deep weathering profile and is
dominated by oxide mineralisation.
Tapereba D – 2.4 Mt @ 1.2 g/t gold for 0.1 Moz
Duck Head – 0.1 Mt @ 17.1 g/t gold for 63,000 oz
Stockpiles – 7.4 Mt @ 0.8 g/t gold for 0.2 Moz
A large inventory of spent ore and low grade stock piles adjacent to the plant site are an important source of ore for future
processing. Total resources for spent ore and low grade stock piles are 5.8 Mt @ 0.8 g/t gold for 140, 000 oz and 1.5 Mt @ 0.9
g/t for 44,000 oz respectively. Metallurgical test work completed on these stock piles indicates excellent recoveries averaging
90% for the spent ore. www.beadellresources.com.au
Country: CANADA Owner in CANADA ZINC/LEAD
November 12: Selwyn Resources has announced that Selwyn Chihong Mining Ltd (SCML) has reimbursed Selwyn C$7.44
million for the second tranche of Selwyn project pre-development program expenditures incurred. Selwyn has received an
aggregate C$12.52 million for its project expenditures. With receipt of these funds, Selwyn has C$9.8 million in working capital
to fund its ongoing corporate and administrative expenses and no debt.
The ongoing exploration and development of the Selwyn project will be funded by the joint venture. The newly formed Selwyn
Chihong Mining Ltd. joint venture company is carrying out the C$89 million exploration and development program that started in
June 2010 in support of the completion of a feasibility study and permitting activities. Selwyn's focus is the exploration and
development of the Selwyn project in eastern Yukon and Northwest Territories with its joint venture partner Yunnan Chihong
Zinc and Germanium Co.
The mineral resource at the Selwyn project stands at 154.35 Mt grading 5.35% zinc and 1.86% lead of Indicated resources,
and 234.15 Mt grading 4.54% zinc and 1.41% lead of Inferred resources.www.selwynresources.com
Country: CANADA Owner in CANADA POTASH
November 12: Saskatchewan First nations are making a push to get involved in the lucrative potash industry. The
Muskowekwan First Nation has signed an agreement with Vancouver based Encanto Potash Corp to develop a mine on its
land northeast of Regina. Chief Reg Bellegarde: "It is good for our community, it is good for our First Nation, and it's good for
our future."
The mine would cover a 43,000 acre region, creating almost 300 jobs and generating a 3% royalty for the First Nation. "Our
government funding through contributions is not meeting the needs, so our focus is our own source of revenue. The best way is
to partner with industry." Members of the First Nation still need to approve the venture through a vote, and a feasibility study
needs to be done, but Encanto is confident this project can be a success. Encanto President and C.E.O. James Walchuck:
"There's six holes surrounding it that tell us that there's potash at fairly good grades, and then we have two holes telling us that
it's as good or better than the existing mines right now."
Encanto was created to work with First Nations peoples in Saskatchewan to assist them in developing potash resources on
their lands. It is focused on exploring for potash in five southeast Saskatchewan prospects, working with the Chacachas, Day
Star, Muskowekwan, Muscowpetung and Ochapowace First Nations. At the Muskowekwan project initial assays returned
values greater than 25% K2O or 40% KCl over mineable widths in two separate potash beds. The company plans to drill four
infill holes at Muskowekwan for its initial resources calculation due in Q1 2011. Seismic results from an extensive 3D program
at Muskowekwan are currently available. www.encantopotash.com/muskowekwan
Country: SOUTH AFRICA Owner in SOUTH AFRICA/AUSTRALIA COAL
November 12: The Firestone Energy/Sekoko Joint Venture has made tremendous progress in development of the Waterberg
coal project adjacent to the 30 year old Exxaro Grootegeluk coal mine in the Limpopo region of South Africa. The DFS has
been completed and signed offtake expected by December 2010. The current open-pit mine has a 21-year mine life with a very
low strip ratio of overburden to saleable coal strip ratio of 2 to 1 and only 6.4% of the total coal gross tonnes in situ (August
2010 resource update) will be mined within this initial pit, so the coal seams are still open in all directions, and six coal seams
are still under the first stage 70 m deep pit floor.
Submission has been made of the Mining Rights application, Social Labour Plans and the Environmental Impact Assessment
scoping report. The Water Use Licence Authority (WULA) will be completed by end of November 2010 followed by the
submission of the Environmental Management Program (EMP) before the end of December 2010. Completed site visits by the
Department of Water Affairs, the Department of Environment and Tourism and the Department of Local Economic
Development Environment and Tourism revealed no issues, and gives the company confidence that its application for both
WULA and EMP will be accepted with minimal or no queries expected.