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MINTAILS IS A SUBSTANTIAL HOLDER OF TAILINGS MATERIALS CONTAINING GOLD, URANIUM AND OTHER VALUABLE COMMODITIES IN SOUTH AFRICA THROUGH TWO MAJOR RESOURCE DEVELOPMENT PROJECTS.

HIGHLIGHTS

Mintails is a substantial holder of tailings materials containing gold, uranium and other valuable commodities in South Africa through two major resource development projects;

WERGO (West Rand Gold and Uranium Operation)

• Mintails owns the rights to process and extract gold and uranium from over 305 million tonnes of slimes, sands and rock tailings materials located on the West Rand;

Gold Resource:

• Total JORC Gold resource of 2.17 million ounces;
• Measured & Indicated: 15.5mt @ 0.55 g/t for 300,600 oz's
• Inferred: 130.0mt @ 0.42g/t for 1,87m oz's (gold resources table link)

Uranium Resource:

• Total JORC uranium resource of 30.5 million pounds of uranium
• Indicated: 138mt @ 48 g/t for 14.71m lbs
• Inferred: 131mt @ 33 g/t for 9.59m lbs
• Inferred (additional): 54 @ 51g/t for 6m lbs
• Phase 1 of WERGO is under construction, on time and on budget. The plant being constructed will have an initial throughput capacity of approximately 9.6 million tonnes of slimes per annum. Based on this throughput Mintails expects approximately 60,000 ounces of gold and 1.1 million pounds of uranium to be produced per annum.
• Phase 1 of WERGO is expected to be completed by October 2008
• Mintails currently has the producing Mogale gold plant on the West Rand. The gold plant has served as a useful proof of principle operation for the far more substantial WERGO

ERGO MINES JV

• Mintails owns two tailings treatment plants called the Brakpan and East Daggafontein Plants located on the East Rand together which formed the largest gold and uranium tailings treatment facility in the world (formerly ERGO ex-Anglogold Ashanti);
• The former East Rand Tailings JV announced between Mintails and DRDGOLD Limited (DRDGOLD) currently in place has been superseded by the recently announced (26th November 2007) ERGO Mines JV between Mintails Limited, DRDGOLD, AngloGold Ashanti Limited (AngloGold)and Harmony Gold Limited (Harmony)
• The new JV will have the processing rights to 1.7 billion tonnes (an increase of almost 9 times) through the securing of further dumps and slimes dams in the region
• Phase 1 - 15 million tonnes per annum producing an estimated 75,000 oz's gold
• Phase 2 - 30 million tonnes per annum producing an estimated 150,000 oz's gold, 660,000 lbs of uranium and 855,000 tonnes of sulphuric acid
• Mintails and DRDGOLD (together with their BEE partners) will each have a 50% ownership interest in the newly formed JV
• Mintails also currently runs a small heap leach operation on the East Rand

CORPORATE

• Mintails completed a major merger with Skeat Gold Mining (Pty) Ltd in December 2006, and as a result Mintails owns one of the largest fleets of trucks, cranes, bulldozers, construction and earthmoving equipment in Africa;
• Mintails formed another Joint Venture with DRDGold called West Wits Mining Limited which is intending to list on the ASX raising m as a separate entity to investigate, explore and extract gold and uranium from potential underground sources on historic West Rand leases such as the Rand and DRD Leases.
• Mintails has a highly qualified and experienced technical team who have constructed and operated a vast number of mineral processing plants throughout Africa;