Haughton Range Project - WA

The Haughton Range project lies at the southern end of the Halls Creek Orogen. To the north are the Panton Sill and Sally Mallay Ni/Cu/PGE project/mines, and to the west is the Cadjebut Cu/Pb/Zn mine (Figure 1).

   Figure 1: Location Plan - Close up of magnetics and gravity shown in inserts.

The project target is represented by a discrete gravity feature 8km long and up to 6km wide, coincident with a number of discrete magnetic features that are proximal to that feature’s edges. It is likely that the geophysical target lies in Proterozoic rocks at the edge of the Louisa Basin close to the edge of an interpreted crustal margin/block.

MURRAY BASIN – VICTORIA

(Mineral Sands)

(Falcon 10% free carried, Iluka 90%)

Falcon is 10%, free carried to final mining feasibility in the high grade Echo deposit located within Iluka’s Douglas Project in the Murray Basin, Victoria. Drilling of the Echo deposit to date has established 38 million tonnes of ore at 10.7% (combined heavy minerals) for 4.1 million tonnes of heavy mineral concentrate.

It is expected that mining in the area by Iluka will progress towards the Echo deposit over time.

WINDANNING HILL JOINT VENTURE – W.A.

(Gold)      

(Falcon 21.5% diluting, Monarch Gold Mining Company 78.5%)

The project is located 32km from the Minjar Gold Mine, belonging to the Monarch Gold Mining Company. Minjar is currently under care and maintenance, while Monarch work to re-start operations.

Quoted Reserves and Resources are:-

      Proven and Probable Reserves 62,000 tonnes @ 2.4 g/t gold (4,900 ounces). 97% as Proven Reserves.

      Measured and Indicated Resources 36,000 tonnes @ 2.3 g/t gold (2,700 ounces). 97% as Measured Resources.

      Total Reserves and Resources 98,000 tonnes @ 2.4 g/t gold for 7,600 ounces.

GERMAN WELL JOINT VENTURE – W.A.

(Gold)

(Falcon 25% free carried, Gateway Mining 75%)

Under the terms of the agreement with Gateway Mining, Falcon holds a 25% free carried interest to mine feasibility.

 The German Well project is part of Gateway’s Gidgee Project, located 630km northeast of Perth, containing the Gum Creek greenstone belt, on the western margin of the East Murchison Mineral Field.

YINDI JOINT VENTURE – W.A.

(Gold)

(Falcon 20% free carried, Saracen Gold Mines 80%)

The Yindi project is located approximately 110km east north east of Kalgoorlie, 30 south east of the Carosue Dam gold mine (owned by Saracen Gold Mines, now under care and maintenance), at the southern end of the Keith Kilkenny Tectonic Zone.

 The project comprises of two tenements covering an area of approximately 17.5km2 and is prospective for gold mineralisation.

 These projects were updated in May 2008

©Falcon Minerals Limited MMIV