Australian Mines

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RESOURCES AND RESERVES

Blair Mine Resource (undiluted)

Location	Category	Resource Tonnes	Nickel %	Nickel Tonnes
01 & 03 Surfaces - Sulphide Resource	Measured	38,543	5.5	2,135
	Indicated	34,658	4.0	1,374
	Inferred	25,994	4.7	1,228
	Sub-total	99,000	4.8	4,750

Area 57 - Sulphide Resource	Measured	3,000	5.9	180
	Indicated	3,000	5.8	170
	Inferred	500	5.4	30
	Sub-total	6,500	5.8	380

Blair Mine Sulphide Resource	Total	105, 500	4.9	5,100

Table 1: Blair Mine Nickel Mineral Resource as at June 30^th 2007

Blair Mine Reserve (Diluted)

Location	Category	Reserve Tonnes	Nickel %	Nickel Tonnes
01,03 Surfaces - Sulphide Reserve	Proved	58,780	3.6	2,116
	Probable	56,735	2.4	1,362
	Sub-total	115,000	3.0	3,500

Area 57 - Sulphide Reserve	Proved	6,981	2.4	168
	Probable	7,569	2.3	174
	Sub-total	14,550	2.3	340

Blair Mine Sulphide Reserve	Total	130,000	2.9	3,800

Table 2: Blair Mine Nickel Mineral Reserves as at June 30^th 2007

The information in the table above that relates to Ore Reserves is based upon information compiled by Mr Neil Warburton,who is a Member of The Australasian Institute of Mining & Metallurgy. Mr Warburton is a director of the company and has sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and the activity in which he is undertaking to qualify as a competent person as defined in the 2004 Edition of the “Australasian Code for Reporting of Mineral Resources and Ore Reserves” (theJORC Code). Mr Warburton consents to the inclusion in this report of the information, in the form and context in which it appears

OTHER NICKEL RESOURCES

Location	Category	Resource Tonnes	Nickel %	Nickel Tonnes
Blair South – Sulphide Resource	Measured	0	0.00	0
	Indicated	0	0.00	0
	Inferred	74,000	1.35	1,000
	Sub-total	74,000	1.35	1,000

Marriott’s – Sulphide Resource	Measured	0	0.00	0
	Indicated	460,000	1.12	5,100
	Inferred	370,000	1.15	4,300
	Sub-total	830,000	1.13	9,400

Table 3: Other nickel sulphide resources as at November 14^th 2007

GOLD RESOURCES

Woodline 1 Resource (UNDILUTED)

Location	Category	Resource Tonnes	Gold g/t	Gold Ounces
Woodline 1
	Indicated	123,000	2.9	11,500
	Inferred	5,000	4.6	700
	Total	128,000	3.0	12,200

Table 4: Woodline 1 resource as at June 30^th 2007

The resource models in this report that relates to Mineral Resources were reviewed by Mr E Poole who is a professional geologist with 20 years experience and is a Member of the Australian Institute of Mining and Metallurgy (AusIMM). Mr E Poole is a full time employee of the Company. Mr Poole has sufficient experience which is relevant to nickel sulphide mineralisation and resource estimation to qualify as a competent person as defined in the December 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code. Mr Poole consents to the inclusion in this report of the information, in the form and context in which it appears.

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