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    Drill Results at Widgiemooltha Nth Nickel Project
    30-04 1343


    Titan Resources NL today announced that the recent diamond drilling
    program at the Armstrong prospect, within the Widgiemooltha North
    Project Area located 80km south-west of Kalgoorlie, had increased the
    potential of the nickel project.

    This latest drilling has confirmed the presence of a high-grade
    massive sulphide component to the Armstrong resource in addition to
    identifying extensions to the deposit.

    A refinement of the current geological model and a resource
    re-assessment for this high-grade nickel mineralisation is underway.
    Studies on the economics of mining this material for processing at
    WMC's Kambalda concentrator will follow completion of this work.

    The recent drilling of 13 new diamond core holes has proved highly
    successful with most of the holes intersecting nickel mineralisation.
    Assay results have been received for eight of these holes.

    The best result was returned from WDD005 which yielded 7 metres at
    7.95% Ni from 220 metres, including 3.5 metres at 12.13% Ni. This
    intersection occurs outside of the current ore envelope and
    represents the opportunity for a significant upgrade to the nickel
    sulphide resource of 917,000 tonnes at 1.85% nickel. Some of the
    other high-grade intercepts from this recent drill program include 15
    metres at 3.01% Ni, including 1.9 metres at 9.99%, in WDD001 and 2.7
    metres at 3.59% Ni in WDD007.

    Diamond drill results received so far are presented in the table
    below. All intercepts are close to true width. Results for the
    remaining five holes are expected to be available within the next two
    weeks.

    Reverse Circulation and Diamond drilling will recommence at Armstrong
    on May 7, to follow up these exciting results.

    DRILL HOLE INTERSECTIONS - ARMSTRONG

    HOLE NO NORTH EAST DIP AZI FROM TO WIDTH Ni%
    (m)

    WDD001 6521975 359986 -60 90 133 148 15 3.01
    incl 145.65 147.55 1.9 9.99
    WDD003 6522025 359994 -60 90 104 116 12 1.72
    WDD004 6522025 359940 -60 90 162 174 12 1.40
    WDD005 6522025 359870 -60 90 220 227 7 7.95
    incl 223 226.5 3.5 12.13
    WDD006 6522075 359874 -60 90 191 200 9 1.62
    incl 193 195 2 3.69
    and 206 208 2 2.40
    WDD007 6522125 359840 -60 90 212 214.7 2.7 3.59
    WDD008 6522200 359800 -60 90 240 252 12 1.50

    The highly prospective Cippolini anomaly, which was defined by RAB
    drilling during the March quarter, will be the subject of first-pass
    drilling as part of the planned RC program at Widgiemooltha scheduled
    to commence next week. Cippolini, which is situated immediately south
    of the McEwen deposit, represents a very exciting grass-roots target
    that may prove to be an entirely new ore shoot or perhaps the
    southern extension to the western limb of the McEwen deposit.

    The upcoming drill program will also test the O'Grady prospect,
    situated approximately 5km south of the Armstrong nickel deposit and
    6km north west of the Widgiemooltha townsite. Previous exploration
    has identified massive nickel sulphides in a number of holes and
    further drilling is planned to verify this mineralisation and to
    confirm the geological model, as well as to test for extensions to
    the ore.

    The drilling campaign will also test the newly defined nickel
    anomalies at Carr Boyd, 70 km north of Kalgoorlie.

    * Note: The Project mineral resources detailed in this report
    accurately reflect information compiled by Ms Karilyn Farmer of Titan
    Resources NL who has relevant experience in relation to the
    mineralisation being reported on to qualify as a Competent Person as
    defined by the Australasian Code for Reporting of Identified Mineral
    Resources and Ore Reserves.

    For further information, please contact:
    Mr Bill Ryan
    MANAGING DIRECTOR
    Titan Resources NL
    (08) 9481 6040

 
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