PlatSearch is pleased to announce that it has signed a joint venture Heads of Agreement with Broken Hill Operations Pty Limited, a subsidiary of CBH Resources Limited (ASX Code: CBH) and Eaglehawk Geological Consulting Pty Ltd (EGH). The "ZincSearch" joint venture will undertake an extensive soil geochemical sampling programme over a large tenement holding at Broken Hill, NSW. This sampling programme will utilise a new technology that provides "real time" geochemical analysis of soils using a portable XRF analyser. This equipment, manufactured by NITON LLC, provides in-situ analysis of surface soil, for a wide range of elements, with results available immediately. Coupled with GPS positioning, the NITON XRF analyser enables areas to be geochemically mapped rapidly and with an unprecedented level of detail. The technology is effective where there are large areas of shallow residual soils, such as much of the Broken Hill Block. This method is capable of defining geochemical "hot spots" that are consistently and strongly anomalous over a significant area. These hot spots then represent ideal first stage drilling targets.

The joint venture tenements are Yanco Glen EL 5764, Lindsays Creek EL 5704, Copper King EL 5919, Ziggys EL 6036, Apollyon Valley ELA 2544, Big Alder EL 5646 and Mt Robe EL 6147. They cover a 534 square kilometre area of the Broken Hill Block. At the commencement of the joint venture ownership of the tenements will be CBH (50%) and PlatSearch/EGH (50%). Following the completion of a Stage One work programme funded by CBH, CBH’S interest will increase to 60%. PlatSearch will be the operator for Stage One. PlatSearch/EGH can contribute to further expenditure with a 40% interest or reduce to a 20% interest free-carried to completion of a bankable feasibility study. PlatSearch/EGH can contribute at the project stage or reduce to a NSR royalty interest.

Within the joint venture tenement package there are large prospective areas where geochemical sampling (either soil sampling or RAB drilling) is wide-spaced, or non-existent. Any previous sampling is generally too "broad brush" to have adequately explored these areas, despite the existence of highly favourable stratigraphy, including extensive zones of outcropping lode type rocks. Fieldwork is expected to commence in October 2005 following the delivery of the NITON equipment.

Bob Richardson
Managing Director

Please direct any questions to Bob Richardson on (02) 9906 5220 or 0414 592 080.