EL 1043

Ownership: 100% Copper Quest (PNG) Limited (currently subject to a Farm-In agreement with Barrick)

47

Drilling currently underway to test tonnage potential.

Breccia and volcanogenic hosted massive sulphide copper-gold (molybdenum) systems.

Nakru-1: 26 drill holes (over 5600 metres)
Drill results include:
213.75m at 0.92% Cu and 0.33g/t Au including 13.55m at 2.8% Cu and 22.25m at 1.47% Cu in an upper zone of secondary enrichment, at 64m depth. Results from drilling indicate an Exploration Target of 50 to 60 million tonnes grading 0.7 to 0.9% copper.

Nakru-2: 3 drill holes (1052.7metres)
54m at 1.22% copper including a 7m thick lens of massive sulphide grading 3 to 4% copper at 25m depth.

EL 1077

Ownership: 100% Copper Quest (PNG) Limited (currently subject to a Farm-In agreement with Barrick)

47.84

Drilling underway to test tonnage potential.

Porphyry copper-gold-molybdenum system.

36 drill holes (over 9600 metres)

Inferred Resource of 200Mt at 0.47% copper equivalent (0.36% Cu, 61ppm Mo, 0.06g/t Au, 2g/t Ag).

Near surface enrichment blanket of 0.7% to 0.8% Cu.

Conceptual Mining Study shows further drilling is warranted to define a near surface resource of secondary copper enrichment. Further drilling by Barrick is testing for additional tonnage beneath the resource.

28km of surface bulldozer trenching completed.
Best drill results:

SMD03: 107.65m at 0.43% Cu
SMD19: 93m at 0.59% Cu incl. 18m at 1.0% Cu, and 14m at 0.42% Mo at the Horeshoe prospect.

EL 1445

Ownership: 100% Copper Quest (PNG) Limited (currently subject to a Farm-In agreement with Barrick)

75.18

Porphyry copper and gold style mineralisation occur along the mineralised Kulu-Awit copper belt. Our projects lie within this trend which has been historically explored with airborne geophysics and geochemical sampling.

Isme Creek rock samples returned 9.47g/t gold, 7.94% zinc, 552g/t silver, 0.15% copper and 7.05% lead. This geochemical combination is similar to that encountered at Nakru. The Mt. Misusu prospect has anomalous copper occuring over an area of 850 by 500 metres with one sample returning 1.07% copper and 109ppm molybdenum. Barrick are currently undertaking further geochemical sampling at the South Kulu, Rapisme and Miwayuen prospects.

ELA 1782

Under application: 100% Copper Quest (PNG) Limited

763.1

Copper and gold prospects occur within this application which lies in a NW trending copper belt which includes the Mt. Likuruanga porphyry copper system. Ok Tedi Mining Ltd are undertaking a drilling programme on the adjoining EL 1351 (Mt Likuruanga) in a farm-in arrangement with Frontier Resources Ltd.

ELA 2014

Under application: 100% Copper Quest (PNG) Limited

280.1

Visible copper mineralisation occurs in samples near the south coast. One rock sample contains 10.7% Cu and 15.5g/t Ag. Two other samples assay 2.91% and 1.1% Cu. Skarn, porphyry and breccia related copper systems are targets within this tenement. Airborne geophysics show areas of anomalous magnetic signatures related to copper in surface samples.

ELA 1813

Under application: 100% Copper Quest (PNG) Limited

543.1

Anomalous gold and copper in stream and rock samples occur within the Kulu-Awit copper belt within this application area.

The Kulu-Awit copper belt is host to the Nakru copper-gold-zinc breccia / VMS systems, and the large Simuku 1 copper porhyry.

These systems are currently being drill tested.