BROKEN HILL - CURNAMONA CRATON, NSW/SA

Mundi Plains

JV with Teck Cominco on Mundi Plains and Junction Dam tenements.  Both tenements are considered to be prospective for large, Broken Hill style lead-zinc-silver deposits, Cloncurry style copper-gold deposits, and other deposit styles including MVT in the Adelaidean.  Teck Cominco has completed a detailed study of the lithogeochemical alteration trends at the Dome 5 prospect. This is a proprietary technique that indicates proximity to significant Broken Hill Type (BHT) lead-zinc-silver systems. The study confirms that the Dome 5 system is highly prospective for BHT deposits and is worthy of "aggressive testing". Teck Cominco Limited, has completed a five hole programme consisting of two holes targeting BHTstyle mineralisation (DF5 and DF8) and three targeting MVT style mineralisation in the Adelaidean cover sequence (DF4, DF6 and DF7) at the Dome 5 prospect in the Mundi Plains tenement located 55 kilometres northwest of Broken Hill, NSW. Teck has previously completed detailed gravity surveys over the Dome 5 prospect and the Yambarra, K16 and K17 prospects in the adjoining Junction Dam tenement in SA Drilling is currently in progress on the K16 magnetic/gravity anomaly in the adjoining Junction Dam licence in SA and will then progress to the Yambarra gravity anomaly.

Stephens Centennial

Teck Cominco has advised they have withdrawn from this JV.  However, soil sampling utilising Niton portable XRF technology and compilation of the data continues with many drill ready targets identified by remaining JV partners Triako (CBH Resources), Eaglehawk and PlatSearch.

Euriowie

JV with Western Plains Resources (WPG).  Mineralisation was confirmed at Yalcowinna and Son of Man.  RC percussion drilling and further diamond drilling have been completed and the assays confirm the continuity of mineralisation with broad intervals of low-grade copper mineralisation intersected in all three deeper holes drilled.  Previous WPG RC percussion holes intersected up to 24m @ 0.35% Cu and the deeper drilling intersected up to 17m at 0.25% copper (including a maximum value of 1.11% copper over the interval 292-293m).

Yanco Glen, Ziggys, Copper King, Apollyon Valley, Mt Robe and Big Aller

ZincSearch JV with CBH.  CBH is currently using conventional soil geochemical sampling and analyses on anomalies defined by the Niton XRF geochemical sampling programme to refine the delineation and categorisation of anomalies prior to drilling. Drill testing of these anomalies is expected to commence in the third quarter of 2008.

Hillston

JV with Perilya.  Perilya completed further gridding and reconnaissance mapping in preparation for a diamond drilling programme, which it is currently evaluating as an alternative to the RC drilling planned earlier in the year. The proposed programme, which is due to commence in the second half of 2008, includes four diamond drillholes totalling 1,200 metres targeting two IP targets and two discrete magnetic targets based on review of historical geophysical data.

Hollis Tank

JV with Minotaur. Minotaur has completed one RC percussion hole on each of the Great Goulburn and Singha prospects to test geophysical/geochemical anomalies defined by PlatSearch. The Great Goulburn hole intersected an 18 metre wide magnetite and pyrite rich unit between 51 and 69 metres.

Cymbric Vale

Bondi has withdrawn from this joint venture. Rock-chip sampling at the Cymbric Vale prospect encountered numerous anomalous copper rock-chip assays with values up to 5.6% in old workings and gossan outcrops that occur intermittently over a one kilometre strike length.  A program of moving loop EM has been completed over the copper mineralisation and RAB drilling rig has been completed confirming a broad low grade zone of gold and copper anomalism.

Nightrider

New tenement surrounding the Dome 5 prospect area and potentially prospective for MVT style mineralization.

Iron Bar

New tenement covering a gravity anomaly of a similar character and configuration to that over the Broken Hill line of lode.  RAB drilling over the gravity/magnetic feature planned.

Road Warrior

Three tenements with potential for MVT and Mt Isa style lead-zinc-silver deposits.  Regional gravity survey planned.

Callabonna, SA

JV with Red Metal. Red Metal was awarded a PACE grant for a deep drillhole to test one of several localised gravity anomaly targets in the eastern part of the Callabonna tenement. Gravity and magnetic data show clear evidence for many large, discrete ironstone systems.  Airborne EM completed seeking palaeochannel-hosted uranium. Recent processing and interpretation of new, high resolution airborne electro-magnetic data (REPTEM) has successfully mapped the previously unrecognised, northward extension of the Paralana fault system on to the Callabonna tenement. The fault system is a deep seated, long life structural zone which is interpreted to play an important role in the localisation of prospective sand sequences and uranium mineralisation at the Beverley and Four Mile deposits located only 40 kilometres to the south west.

Mulyungarie, SA and Mundi Mundi, NSW

Two holes to test gravity-magnetic anomalies discovered a large quartz-haematite-magnetite body with potential to host IOCG style mineralisation.  Assays show anomalous gold in both holes up to one metre at 4.5 g/t.  A programme of further drilling is planned.

Quinyambie, SA

JV with Red Metal.  First drillhole completed to 498 metres.  Intersected large volcanic breccia vent with strongly anomalous copper (192m @ 598ppm).  Pre-collar hole completed at Dolores East prospect and diamond core drilling is planned.  In the eastern half of the tenement, four gravity targets prospective for IOCG style mineralisation have been identified.  A deep IP survey is planned over the area of the QBE2 drillhole.  Recent processing and interpretation of new, high resolution airborne electro-magnetic data (REPTEM) has successfully mapped the previously unrecognised, northward extension of the Paralana fault system on to the Quinyambie tenement. The fault system is a deep seated, long life structural zone which is interpreted to play an important role in the localisation of prospective sand sequences and uranium mineralisation at the Beverley and Four Mile deposits located only 40 kilometres to the south west.

Frome and Poverty Lake, SA

JV with Newcrest.  Newcrest completed five core holes at three prospects targeting a series of discrete magnetic anomalies considered to be prospective for possible IOCG style copper-golduranium mineralisation. Two holes were drilled at Boundary prospect (BRD008 and BRD009), two at Brumby prospect (BRD012 and BRD13) and one at Anomaly A prospect (BRD014).

Kalabity, SA

JV with Crossland Uranium. Following completion of an extensive auger drilling programme, Crossland Uranium has forwarded 636 auger samples and 14 rock-chip samples for analysis. Results will be available in the September quarter.

THOMSON FOLD BELT, NSW

Monolon, Yantabangee, Tongo, Klondyke, Mt Pleasant, Kango, Tringadee and Pirillie

JVs with Minotaur.  Joint venturer Minotaur has recommenced the drilling programme paused in late 2007 with the completion of two holes, one on the P1 prospect at Pirillie project and one on TR1 prospect at Tringadee project. Both holes are reported as intersecting mafic/ultramafic rocks with pyrite, however, a more definitive assessment will require the completion of geological logging and assay results. The current drilling programme will include a follow-up hole at F16 prospect where the first hole intersected one metre at 70.5 g/t silver and 389ppm tungsten in veined sediments. A more detailed ground magnetic survey is being conducted at F16 to refine the interpretation and the target for this second hole. Given the encouraging result obtained in the first F16 hole, ground magnetics is also being conducted on new prospects F12 and F19 that are located along strike from F16.

Laurel, Glendara, Mulga and Callindary

PlatSearch has a significant ground holding in a number of tenements (>2,500 sq km) in the Thomson Fold Belt, an emerging new frontier of exploration where new aeromagnetic data shows potential for base and precious metal deposits and diamonds.  An information package on these tenements has been provided to Minotaur for assessment regarding possible joint venture participation. Ground magnetics is being completed by PlatSearch on several targets in these tenements.

COBAR & MAIN LINE EASTERN IRON PROJECT AREAS NSW

Cobar East, Coolabah West, Oakvale, Quartermaine, Techno, Tottington, Wendoline, Shaun, Wallace, Gromit, Bimbella, Euabalong, McGraw, Flamingo and Preston

JV with Eastern Iron Limited encompassing 15 large tenements in western NSW covering areas prospective for a range of commodities but primarily channel iron.  PlatSearch completed an initial round of surface sampling, shallow aircore drilling and test-work.. Eastern Iron has advised that drilling of 45 drillholes (806 metres drilled) over selected palaeochannel targets in the southern tenements near Euabalong was completed in June 2008.. A further programme of drilling of 4000 metres of scout and pattern drilling commenced in August 2008.

NEW ENGLAND OROGEN, NSW

Kempsey Porphyry Project

West of Kempsey, PlatSearch has two exploration licences covering an area of extensive previous exploration by BHP, Shell Minerals (Billiton) and CRA. This drilling-intensive previous work focused on tin prospectivity and resulted in a non JORC resource of the order of 5 million tonnes at 0.17% tin within the area. PlatSearch believes that the existing “Renison style, replacement” tin mineralisation is related to an intrusive-related gold or porphyry copper-gold system. Compilation of the large amount of previous work is continuing and further opportunities are being assessed.

GAWLER CRATON, SA

Mirikata

Following the completion of four deep core holes, Newcrest withdrew from the JV.  PlatSearch is currently reviewing all results to define further drill targets.  A new JV partner is being sought.

Coondambo

Intense haematisation associated with rare earth anomalism has been identified and a gravity survey completed.  Drilling completed to 403m, intersected no significant mineralisation.  JV partner, Marathon Resources, completed fill-in calcrete sampling (570 samples) and minor rock-chip sampling.

Pathfinder

JV with Newport Mining. Discussions with the Yalata people regarding access in progress. Gravity survey followed by RC drilling planned.

Wynbring

Chesser Resources have advised they have withdrawn from the JV. A programme of ground geophysical surveys and RAB/Aircore drilling costing $500,000 searching for sulphide nickel, copper-gold and uranium mineralisation within the next 12 months. A PACE drilling co-funding grant has been obtained for this drilling.

MT ISA BLOCK, QLD

Horse Creek Project

JV with Red Metal. Red Metal completed a vertical drillhole to 560 metres depth on a strong gravity and magnetic anomaly target. The hole entered basement at 440 metres and then intersected a large ironstone system with magnetite and abundant pyrite.

Lilleyvale

WCP Resources has advised that it is withdrawing from the Lilleyvale joint venture. WCP completed two deep drillholes at Lilleyvale bringing the total number of holes drilled on this prospect to four. Each of the three holes drilled to date by PlatSearch’s joint venture partners has intersected intensely skarn altered rocks with wide intervals of weakly to moderately anomalous copper and gold. The Lilleyvale prospect is a large system extending over a 2 x 3 kilometre area and cannot be considered as adequately tested by the drilling to date. Other worthwhile drill targets exist within the prospect area and PlatSearch is confident of introducing another partner to fund further drilling.

 OTHER AREAS

Dunmore and Tomingley, NSW

Bondi has withdrawn from this joint venture. At Tomingley a wide spaced grid was drilled to test a target zone defined by a major northwest trending break in the regional gravity and magnetic datasets.  Best results of 446ppm copper (TOL25) and 0.36g/t gold (TOL17).  At Dunmore aircore drilling at newly defined magnetic target DO2 returned best results of 4m at 1,230ppm copper and 0.22g/t gold from the top of the hole in D02-03.  At target DO8 a circular magnetic high a maximum value of 475ppm copper was intersected (D08-01) at a depth of 64 metres.  A number of significant intersection were returned from drilling designed to test extensions of the TRE prospect.