ASX Release. 16 December 2010 LIMITED. EXPLORATION UPDATE Highlights

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ASX Release EXPLORATION UPDATE Highlights Bonsiega Joint Venture tenements minimum expenditure commitment met by 30 November 2010 Commencement of power auger bedrock drilling program at Fouli

1 ASX Release EXPLORATION UPDATE Highlights Bonsiega Joint Venture tenements minimum expenditure commitment met by 30 November 2010 Commencement of power auger bedrock drilling program at Fouli Prospect on 1 November 2010 Completion of airborne magnetic and radiometric surveys over the Fouli, Tantiabongou, Aoura, Tangagari, Tamfoagou and Tyekanyebi permits Commencement of follow up RC drilling at Fouli in late December 2010 Proceeds of recent IPO to be used primarily for exploration of the Company s 1,544km 2 of exploration tenements in Burkina Faso 16 December 2010 ASX Code: PDI ACN Level 7 Exchange Tower 530 Little Collins Street Melbourne Victoria 3000 Australia Telephone Facsimile info@predictivediscovery.com The Board of Predictive Discovery Limited (ASX: PDI) is pleased to provide the following update relating to progress in exploration activities since release of its IPO Prospectus on 18 October Burkina Faso Completion of in excess of $600,000 in exploration expenditure by 30 th November 2010 on the four exploration permits covered by the farm in agreement with the ElDore Mining Corporation Limited (ElDore). This was the minimum expenditure requirement under the terms of the Heads of Agreement executed by PDI, Eldore and ElDore s subsidiary, Knights Landing Limited, on 8 th January Total expenditure of A$2m by 30 th June 2012 is required to earn a 60% equity in these tenements. The initial exploration work by PDI included Rotary Air Blast (RAB) drilling which returned encouraging results (reflected in the IPO Prospectus) including: Fouli Prospect FORAB079: 11m at 1.3 g/t Au from 24m FORAB81: 15m at 2.3 g/t Au from 12m FORAB106: 6m at 4.9 g/t Au from 16m

2 PDI s exploration work at Fouli has indicated a 1.7km long gold anomalous zone open to the north east on a deep structure. Completion of airborne magnetic and radiometric surveys over the Fouli, Tantiabongou, Aoura, Tangagari, Tamfoagou and Tyekanyebi permits covering approximately 800 square kilometres of tenements (see Figures 1 and 2 for locations). Figure 1: Location of gold prospects on the eastern Bonsiega Project permits. The location of previous RAB and RC holes (including PDI s own RAB drilling) are shown as blue and red dots respectively. Commencement of a power auger bedrock drilling program (Figure 3) on 1 st November 2010, the initial focus being on the Fouli prospect. Assay results are anticipated in January PDI s tenements have not been subjected to any serious exploration since the 1990 s and contain significant artisanal mine workings. Historic drilling results include: Reverse Circulation (RC) 11m at 6.0 g/t Au 10m at 2.5 g/t Au 18m at 2.4 g/t Au Rotary Air Blast (RAB) 23m at 2.6 g/t Au 13m at 1.4 g/t Au 11m at 1.3 g/t Au Geological mapping programs on the eastern permits of the Bonsiega project. page 2

3 Commencement of utilisation of the PredictoreTM technology following payment of the annual licence fee to the intellectual property owner, Ausmodel Pty Ltd. PDI has exclusive use of this technology outside of Australia. Grant of PDI s wholly owned Tamfoagou and Tyekanyebi permits, which were applied for in mid Receipt of a letter from the Ministry of Mines inviting payment of fees for permit renewal on the Boussouma permit. In Burkina Faso, receipt of such letters is regarded as an acknowledgement by the Ministry that the renewal will proceed. Ongoing discussions with permit holders in Burkina Faso with a view to expanding the Company s exploration portfolio in Figure 2: Location of PDI permits (in solid blue) overlain on a government aeromagnetic image covering part of eastern Burkina Faso. The location of Semafo s Samira Hill gold mine in Niger is indicated, along strike from the Company s Bonsiega Project. Planned Exploration Activities PDI is undertaking an aggressive exploration program in Burkina Faso over the coming 6 months including the following activities: Undertaking two reverse circulation (RC) drilling programs: o A 2,000m program commencing in the next week and focused on the Fouli prospect (Figure 1) which is located within the Bonsiega Project in the ElDore joint venture permits, and o A 7,500m program commencing in March 2011 which will test the drilling targets being developed by PDI using the power auger geochemistry, airborne geophysics and application of PredictoreTM technology throughout its Burkina Faso exploration portfolio. page 3

Continuation of the power auger bedrock geochemistry program throughout the field season, principally but not exclusively on the Bonsiega Project permits.

4 Continuation of the power auger bedrock geochemistry program throughout the field season, principally but not exclusively on the Bonsiega Project permits. A second power auger will arrive at site to accelerate exploration progress in January Figure 3: Power auger rig in operation on the Fouli prospect (see Figure 1 for location). Extensive geological mapping programs throughout the permit areas. Drill target development through a combination of the geological mapping, geophysical data processing and analysis, bedrock geochemistry and application of the Predictore TM technology. Ground or aerial magnetic surveys of the Boussouma permit. PDI expects to be releasing results from the first RC drill program in late January or early February. The Company notes, however, that this program is testing only one of many prospects through its Burkina Faso tenements, with a much larger release of drill results anticipated in the June Quarter of Australia (Figure 4) At Benmara, the Company undertook geological mapping and gravity surveys in order to obtain the necessary information for application of its Predictore TM technology to drill target planning. Work at Skipton was confined to interpretation of several test lines of magneto telluric geophysical data and designing a detailed gravity survey which is scheduled to commence early in Following completion of Predictore TM analysis, drilling is planned in both areas next year, commencing at Benmara in June page 4

5 Figure 4: Location of PDI s Australian Projects. Corporate Presentation A copy of the Company s current Corporate Presentation has been placed on the website at About Predictive Discovery: Predictive Discovery Limited (PDI) was established in late 2007 to explore for gold and uranium. The Company is focused principally on exploration for gold in West Africa with two additional projects for uranium and gold in Australia. PDI has a distinctive technological capability, known as Predictore TM, which is designed to increase drill targeting efficiency thereby reducing ore discovery cost. The Company s major focus is in Burkina Faso, West Africa where it is exploring for large open pittable gold ore deposits. For further details please contact: Paul Roberts Managing Director Tel: paul.roberts@predictivediscovery.com or visit our Website at: page 5

6 The exploration results reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr Paul Roberts (Fellow of the Australian Institute of Geoscientists). Mr Roberts has sufficient experience relevant to the style of mineralisation and type of deposits being considered to qualify as a Competent Person as defined by the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code, 2004 Edition). Mr Roberts consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. page 6

ASX Announcement. New economic gold results confirm Dave East as an exciting new discovery. Highlights. 4 July 2011

ASX Announcement. New economic gold results confirm Dave East as an exciting new discovery. Highlights. 4 July 2011 4 July 2011 ASX Announcement New economic gold results confirm Dave East as an exciting new discovery Level 2, 9 Colin Street West Perth WA 6005 ABN 11 127 171 877 p (08) 9216 1000 f (08) 9481 7939 w www.predictivediscovery.com