9 September 2013 Fast Facts Newsflow / Catalysts Crown coal quality analyses Q4 2013 Crown PFS commences Q4 2013 Overview Australia Overview ASX: JAL Share Price Range (6mths) $0.21 $0.36 Shares on issue 171,361,453 Options ($0.15 $0.20) 11,080,556 Market Capitalisation ~$45M Cash Position (August 16, 2013) $5.2M Major Shareholders (as at September 5, 2013 ) Macquarie Bank 8.7% Pershing Aus Nom P/L 5.6% Directors & Management David Fawcett (Chairman) Art Palm (Executive Director & CEO) John Holmes (Executive Director) David Prentice (Non Executive Director) Jeff Bennett (Non Executive Director) Key Projects Crown Mountain Coal Project Elk Valley Coalfields, Canada Dunlevy Coal Project Peace River Coal Fields, Canada Investment Highlights Positioned in world class metallurgical coalfields Significant development expertise on board with successful track record Modern rail and port facilities Strong financial position Dunlevy regulatory approvals Q4 2013 Dunlevy exploration commences Q4 2013 Contact Details L2, 79 Hay Street, Subiaco WA, 6008 P +61 (8) 9200 4473 F +61 (8) 9200 4463 E admin@jamesonresources.com.au Canada S8, 1199 West Hastings, Vancouver P +1 (604) 629 8605 Crown Mountain Coking Coal Project Drilling Program Completed Successfully Highlights The drilling program at Crown Mountain has been completed ahead of schedule and below budget. Due to better than expected coal occurrences in two of the reverse circulation ( RC ) holes, two additional large diameter coreholes ( LDC ) were drilled. A total of six RC holes and seven LDC holes were completed. Initial lab results are favourable in terms of oxidation not being an issue on the targeted seams: coal quality and washability testing is in progress. The 2013 Crown Mountain drilling program has been a resounding success: adequate samples have been collected and transported to the lab, where preliminary results will soon be available. Drilling progressed more expeditiously than planned, allowing the opportunity to drill two more LDC holes than originally intended. This allowed Jameson to investigate coal quality in two areas where RC results showed improved coal intersections versus the existing geologic model. Anticipating the commencement of prefeasibility and preparation of an Environmental Assessment, ground water monitoring stations have been installed and dozens of rock cores have been collected for metal leaching and acid rock drainage evaluation. Initial laboratory results are favorable with respect to oxidation. Detailed washability and coal quality testing is well underway at Birtley Coal & Minerals Laboratory ( Birtley ) in Calgary. Interim results will be periodically released as complete batches become available. In addition to Birtley, testing facilities slated to perform evaluation on various coking coal properties include SGS, CanMet, and CoalTech. Selected backup samples will be sent to other laboratories as a quality control measure. We are quite pleased with the success of the drilling program, and look forward to commencing pre feasibility and EA preparation work once the complete suite of lab results have been received and evaluated. Crown Mountain remains on a fast track schedule.
Overview The Crown Mountain drilling program was focused on the key North and South Blocks of the project area (Figure 1). These two blocks, which together contain a total of 66 million tonnes of Measured and Indicated Resources (of Crown Mountain s 90 million tonne resource), were determined by the recent Preliminary Economic Assessment to show robust economics. Elk Valley drilling specialist Foraco Canada Ltd has completed seven LDC (150mm) holes ranging in depth from 71 to 151m (average 122m) for a total of approximately 853 metres. Six RC drill holes for approximately 796 metres have also been completed. The Elk Valley coalfield historically does not favour conventional core drilling. Typically, core recoveries are low, resulting in little if any reliable samples. To address these concerns, Jameson elected to use LDC. The LDC holes are the key to acquiring adequate bulk samples to definitively establish plant yield and coking coal characteristics. The core recovery on the seven LDC holes has been excellent: recovery averaged over 95 percent. Core is initially shipped to Birtley for washability and numerous coal quality tests. Specialized coking coal evaluations will be subsequently performed at CoalTech, CanMet, and SGS, giving Jameson a full suite of coking coal quality data. Environmental base line studies, including surface hydrological test, work, are continuing on a monthly basis. Instrumentation for down hole groundwater studies was installed concurrent with drilling. The Company has engaged SRK Consulting to undertake initial metal leaching and acid rock drainage studies on samples collected during the drilling program. Installation of a climate station as well as wildlife and plant studies will be carried out before year end. The Company intends to advance the Crown Mountain project into prefeasibility commencing in Q4 2013, followed closely by preparation of the EA, which is the gateway of the mine permitting process. On Behalf of the Board of Directors, Art Palm Chief Executive Officer
Hole ID Type Easting Northing Dip Hole Length CM11 11 CH LDC 662692 5521515 Vertical 126 CM11 12 CH LDC 662856 5521636 Vertical 73 CM12 01 CH LDC 662483 5521909 Vertical 152 CM11 22 CH LDC 663757 5519707 Vertical 126 CM11 19 CH LDC 663407 5518158 Vertical 150 CM13 15 CH LDC 663217 5521540 Vertical 124 CM13 25 CH LDC 663766 5517913 Vertical 102 Sub Total 853 CM13 06 RC 662818 5521114 Vertical 54 CM13 15 RC 663217 5521540 Vertical 139 CM13 17 RC 663628 5520999 Vertical 194 CM13 19 RC 663397 5518858 Vertical 136 CM13 25 RC 663766 5517913 Vertical 115 CM13 20 RC 663235 5518437 Vertical 158 Sub Total 796 TOTAL Meters 1649 Table 1 Drill hole summary table Note : Holes are surveyed in UTM NAD83 CSRS datum with geodetic (sea level) elevation.
Figure 1 Crown Mountain Drill Hole Location Plan
Figure 2 Drill Hole Collar Plan
Figure 3 RC Drilling Crown Mountain South Block Figure 4 LDC drilling Jameson CEO Art Palm and Foraco GM Jacob Entz
Figure 5 RC Sampling of coal seam via 350 mesh vibrating screen ensures maximum recovery About Jameson Resources Limited Jameson Resources Limited (ASX:JAL) is a junior resources company focused on the acquisition, exploration and development of strategic coal projects in western Canada. The Company has a 90% interest in the Crown Mountain coal project, and a 100% interest in the Peace River coal projects located in British Columbia. Jameson s tenement portfolio in British Columbia is positioned in coalfields responsible for the majority of Canada s metallurgical coal exports and are all close to railways connecting to export facilities. To learn more, please contact the Company at +61 89200 4473, or visit:
Competent Person Statement The information in this document that relates to the Mineral Resources is based on information compiled by Mr. Geoff Jordan P.Geo., who is a Member of a Recognised Overseas Professional Organisation (ROPO) included in a list promulgated by the ASX from time to time, being the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Jordan is an Independent Consultant [OR/ an employee of Norwest Corporation] and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Jordan consents to the inclusion in the document of the matters based on his information in the form and context in which it appears. The information pertaining to the ASX Announcement to which this statement is attached that relates to exploration results is based on information compiled by Mr John Holmes, who is a member of the Australian Institute of Geoscientists. Mr. Holmes is a full time employee of Jameson Resources Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Holmes consents to the inclusion in the ASX Announcement of the matters based on his information in the form and context in which it appears. The information pertaining to the ASX Announcement to which this statement is attached that relates to exploration and laboratory testing results is based on information compiled by Mr. Art Palm P.Eng., who is a Member of a Recognised Overseas Professional Organisation (ROPO) included in a list promulgated by the ASX from time to time, being the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Palm is a full time employee of Jameson Resources Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Palm consents to the inclusion in the ASX Announcement of the matters based on his information in the form and context in which it appears. Forward Looking Statements This announcement contains forward looking statements. Such forward looking statements include, without limitation: estimates of future earnings, the sensitivity of earnings to commodity prices and foreign exchange rate movements; estimates of future production and sales; estimates of future cash flows, the sensitivity of cash flows to commodity prices and foreign exchange rate movements; statements regarding future debt repayments; estimates of future capital expenditures; estimates of resources and statements regarding future exploration results; and where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward looking statements. Such risks include, but are not limited to commodity price volatility, currency fluctuations, increased production costs and variances in resource or reserve rates from those assumed in the company s plans, as well as political and operational risks in the countries and states in which we operate or sell product to, and governmental regulation and judicial outcomes. For a more detailed discussion of such risks and other factors, see the Company s Annual Reports, as well as the Company s other filings. The Company does not undertake any obligation to release publicly any revisions to any forward looking statement to reflect events or circumstances after the date of this release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.