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    Nickel Laterite Resource Estimate

    Resource Mining Corporation (RMC) is please to announce the completion of the nickel
    limonite and saprolite resource estimation for the Wowo Gap Ni-Co Project in PNG.

    The Inferred JORC compliant resource estimate quoted to the appropriate level of precision

    200 million tonnes @ 0.83% Ni, 0.07% Co

    Representing 1.7 million tonnes of contained nickel.

    This represents a significant volume increase from the previous 2006 resource estimate
    following the completion of 83 kilometres of ground penetrating radar (GPR) and 47 diamond
    drill holes in 2007, which successfully defined the depth extent of the limonite and saprolite
    profiles within the mineral resource. The resource estimate is reported using a lower cut off
    grade of 0.5% Ni and a dry bulk density of 1.5t/m3.

    The decrease in the nickel grade in comparison to the
    2006 estimate is primarily due to the lower cut-off used
    but also the inclusion of the core stones in this resource
    estimate, where as the grade from the 2006 estimate
    was calculated from the soft saprolite and limonite
    material only. Core stones are boulders of unweathered
    ultramafic rock which are common within the saprolite
    profile (Figure 1), and typically range in grade between
    0.25% to 0.35% Ni. The estimated volume of core
    stones within the lateritic profile is 36%, based on
    geological logging of the diamond core.

    The two weathering zones; the limonite zone and the
    saprolite zone were interpreted on the basis of
    geological logging and multi-element geochemistry and
    compared favourably to the profiles mapped by the

    A detailed breakdown of the resource is provided below:

    Material Million Tonnes Ni % Co %
    Limonite 120 0.85 0.09
    Saprolite 80 0.80 0.05
    Rounding may introduce computational errors

    Figure 1: Laterite Profile at Wowo Gap
    showing core stones in the saprolite.
    Resource Details

    The resource estimate was undertaken by RMC geologists in Perth. The resource for Wowo
    Gap has been estimated using, 14 GPR profiles spaced on 400 metre lines across the
    resource area, 47 NQTT diamond holes drilled in 2007, 26 HQTT diamond holes and 70
    wacker holes drilled in 2004 (Figure 2).

    The mineral resource ore block model has been developed from the topography, limonite and
    saprolite surfaces as interpreted from the GPR profiles.

    Both an inverse distance squared and a nearest neighbour estimation techniques were used
    to developed the model grades and tonnage. Grade estimations are based on one metre
    composites from 142 drill holes with an average drill spacing of 400 metres. Both the inverse
    distance squared and a nearest neighbour resource models report similar grades and tonnes
    at the appropriate levels of precision.

    The estimate is based on all drill hole assay data as of 5th February 2008 and covers a total
    strike length of 6 km. Classification of the estimate as Inferred was based on drill hole density,
    assay data, geological confidence criteria and the bulk density estimation.

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