agz-good volume on announcement

New Gold/Antimony Anomalies Discovered at Costerfield

A.G.D. MINING LIMITED 2002-12-30 ASX-SIGNAL-G

HOMEX - Melbourne

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AGD Mining Limited ("AGD") is pleased to announce the following
results from its recent geochemical exploration efforts at
Costerfield in central Victoria.

HIGHLIGHTS:

* Results from the 574 air core holes over sections of the 3.5 km
potential mineralised Costerfield corridor has outlined four further
exploration targets for gold/antimony mineralisation.

* Assay results above 30 ppb Au are regarded as anomalous for the
Costerfield corridor. Results of up to 340 ppb Au, 1,300 ppb As and
700ppb Sb were recorded, in this programme. Assays up to 2.8 g/tAu
were recorded in the quartz laterite horizon in the Prince of Wales
zone, situated about 100 metres east of the main Costerfield
corridor.

* Previous geochemical exploration on the Costerfield corridor
resulted in the discovery of the Augusta Gold Project (previously
called the MH Zone). This exploration programme has now extended the
Augusta mineralisation some 80 metres further south from the southern
most diamond drill hole, giving a potential strike zone of a minimum
of 500 metres.

* The Augusta mineralisation is still open on strike to the south and
has not been closed off to the north.

* Gold/antimony mineralisation has also identified two possible
extensions of mineralisation some 500 metres south of the main
historic Costerfield workings in areas not previously mined.

The geochemical exploration was designed to test the bedrock "C"
horizon on line spacing of about 400 metres with holes drilled along
the lines on 5m hole centres.

The purpose of this geochemical programme was to define additional
near surface gold targets along the 3.5 kilometre main shear zone
linking the old main workings at Costerfield and the new Augusta Gold
Project discovery to the south of Costerfield. Historically there has
been very little modern day exploration conducted over this main
corridor apart from the Augusta area, which proved successful with
the discovery of a resource of 290,000 tonnes grading 12 g/t gold and
6.2% antimony.

A 15 hole diamond drill programme is scheduled to begin in early
January to test the upper, oxidised parts of the Augusta Gold Project
and extend the near surface strike lengths of the Augusta's three
orebodies.


J Debrodt
COMPANY SECRETARY