ASX: AOH, FSE: A2O 13 September 2012 NEW COPPER DEPOSIT IDENTIFIED AT ROSEBY Copper mineralisation at Turkey Creek over 1km strike in RAB drilling RC drilling over 400m confirms strike continuity and widths up to 50m Only 2km east of Little Eva deposit Altona Mining Limited ( Altona ) is pleased to announce a new copper deposit has been discovered at its 100% owned Roseby Project ( Roseby ) near Mt Isa in Queensland, Australia. The discovery at Turkey Creek is located some 2 kilometres east of the 100 million tonne Little Eva deposit. Altona completed 1,272 metres of drilling in 7 RC ( Reverse Circulation ) drill holes and 3,571 metres of RAB ( Rotary Air Blast ) drilling over a 4.5 square kilometre area to test the Turkey Creek target and to test the area planned for infrastructure associated with the proposed Little Eva plant. Altona Managing Director Dr Alistair Cowden said; The new copper deposit at Turkey Creek, discovered so close to Little Eva, reinforces the enormous potential for discovery within the greater Roseby Project. The deposit clearly has potential to provide additional feed to the proposed Little Eva Plant. There are a great number of similar targets to Turkey Creek within our 1,500 square kilometre tenure. Targets include combined copper anomalous drill and soil results, old workings and geophysical targets. Targets adjacent to the main Roseby deposits may have had recent work but those 10-30 kilometres distant may have had little or no exploration in the past 30 years. The Roseby tenements also show clear potential for both Dugald River zinc-lead-silver and Mary Kathleen uranium targets. Drilling at Turkey Creek was targeted to test malachite (green copper oxide) in outcrops over 800 metres of strike. The mineralisation was initially tested by two scout RC holes by Xstrata Copper in 2011. The current programme combined both RAB and RC drilling to define the extent of the mineralisation and the potential for an economic deposit. Highlights from the RC drill intercepts are: TCKR009: 21m @ 0.65% copper, 0.02 g/t gold from 23m TCKR010: 24m @ 0.62% copper, 0.03 g/t gold from 16m TCKR006: 32m @ 0.57% copper, 0.02 g/t gold from 61m TCKR007: 41m @ 0.47% copper, 0.00 g/t gold from 37m TCKR005: 38m @ 0.46% copper, 0.00 g/t gold from 45m A full tabulation of the drilling results is given in Table 1 (Appendix 1). AOH0391 Altona Mining Limited Ground Floor, 1 Altona Street, West Perth WA 6005 ABN 35 090 468 018
Seven RC holes were drilled at Turkey Creek all of which intersected low to medium grade copper mineralisation including higher grade zones up to 5 metres at 1.18% copper. Drilling has confirmed a 400 metre strike length of mineralisation with widths ranging up to 50 metres. The mineralisation in RC drilling is open down dip and along strike to the north and to the south (Figures 3 to 5). Sulphide mineralisation appears to be chalcocite dominant and low in gold. This is a new mineralisation style for Roseby. The drilling provides sufficient data for an initial inferred resource estimate to be completed later this year. Figure 1: Rotary Air Blast (RAB) drilling at Turkey Creek RAB drilling consisted of 236 shallow vertical holes with an average depth of 15 metres. Drilling was planned to test the Turkey Creek target and to extend previous bedrock sampling adjacent to the proposed Little Eva mine site. A total of 18 holes intersected copper grades above 0.1% and individual samples returned values up to 1.92% copper. These results indicate a further 500 metre strike extension of the Turkey Creek mineralisation identified by RC drilling. Most significantly, a 100 metre wide zone was identified by a line of four consecutive RAB holes with over 0.5% copper located 300 metres north of the current RC drilling. In addition, three anomalous areas have been identified east of Turkey Creek and south-east of Little Eva (Figure 3). AOH0391 2.
Please direct enquiries to: Alistair Cowden James Harris Axino AG Managing Director Professional Public Relations Investor & Media Relations Altona Mining Limited Australia Germany Tel: +61 8 9485 2929 Tel: +61 8 9388 0944 Tel: +49 (711) 25 35 92 30 altona@altonamining.com james.harris@ppr.com.au service@axino.de About Altona Altona Mining Limited has a copper-gold-zinc underground mine and processing plant at Outokumpu in Finland. The project is ramping up to design production rate of 550,000tpa. The project produces both copper-gold concentrate and zinc concentrate for sale. The Roseby Project near Mt Isa in Queensland is one of Australia s largest undeveloped copper resources. A Definitive Feasibility Study (DFS) has been completed which envisages the production of 39,000 tonnes per annum of copper, and 17,000 ounces per annum of gold for 10 years from a large scale open pit-mining operation. Environmental and regulatory approvals are well advanced. Altona is listed on the Australian Stock Exchange (AOH) and the Frankfurt Stock Exchange (A20). Competent Persons Statement Information in this ASX Release that relates to Exploration Results, Mineral Resources or Ore Reserves and in particular to data quality, is based on information compiled and reviewed by Dr Alistair Cowden, BSc (Hons), PhD, MAusIMM, MAIG and Mr Jani Impola, MSc, MAusIMM who are both full time employees of the Company and who have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code). Dr Cowden and Mr Impola consent to the inclusion in the release of the matters based on their information in the form and context in which it appears. AOH0391 3.
Figure 2: Copper deposits in the central portion of the Roseby Project and the location of Turkey Creek AOH0391 4.
Figure 3: Plan of RAB and RC drilling undertaken at Turkey Creed and of prior RAB drilling at the Little Eva deposit. Drilling is overlain on an aeromagnetic image AOH0391 5.
Figure 4: Turkey Creek 2012 RC drilling and significant intercepts AOH0391 6.
Figure 5: Turkey Creek Cross Section 7771390mN AOH0391 7.
APPENDIX 1: DRILL RESULTS Table 1: Significant RC drill intersections at Turkey Creek above 0.4% copper cut-off grade Hole ID From Interval Cu Au Ag (%) (g/t) (g/t) TCKR004 59 20 0.58 0.01 1.75 Incl 63 5 1.18 0.01 4.15 TCKR004 87 24 0.48 0.00 1.05 TCKR005 17 21 0.64 0.06 2.14 Incl 18 2 1.47 0.06 5.53 TCKR005 45 38 0.46 0.00 1.53 Incl 63 19 0.66 0.00 2.27 TCKR006 61 32 0.57 0.02 1.94 Incl 77 5 1.13 0.02 3.16 TCKR006 101 25 0.50 0.00 1.55 TCKR007 19 3 0.62 0.01 0.68 TCKR007 37 41 0.47 0.00 0.99 TCKR008 98 3 0.67 0.01 1.53 TCKR008 108 5 0.49 0.01 1.36 TCKR009 23 21 0.65 0.02 3.04 Incl 24 3 1.46 0.04 7.60 TCKR009 63 27 0.49 0.00 1.67 TCKR010 16 24 0.62 0.03 3.24 TCKR010 62 28 0.45 0.00 1.79 Table 2: Maximum copper grades in RAB drill holes above 0.1% copper Hole ID From Interval Cu Au Ag (%) (g/t) (g/t) LEB678 13 2 0.52 0.00 0.48 LEB681 13 1 0.25 0.00 0.12 LEB695 0 1 0.12 0.00 0.09 LEB700 19 2 1.38 0.00 16.1 LEB725 0 2 0.24 0.00 0.18 LEB726 6 2 1.04 0.00 2.18 LEB757 4 2 1.92 0.00 0.5 LEB758 10 5 0.52 0.00 0.08 LEB787 7 2 0.38 0.00 1.42 LEB790 12 5 0.16 0.00 0.06 LEB793 1 2 0.42 0.00 0.22 LEB851 1 1 0.20 0.00 0.25 LEB853 21 3 0.16 0.00 0.09 LEB854 22 2 0.16 0.00 0.03 LEB856 0 2 0.12 0.00 0.05 LEB857 15 1 0.66 0.01 0.2 LEB858 7 2 0.82 0.02 2.75 LEB873 14 1 1.48 0.02 1.57 AOH0391 8.
APPENDIX 2: DRILL HOLE LOCATIONS Table 3: Location of RC drill holes at the Turkey Creek prospect (AMG Zone 54 (AGD 84) Hole ID Easting Northing RL Depth Azimuth Dip TCKR004 412341 7771214 177 270-55 198 TCKR005 412297 7771315 179 270-55 180 TCKR006 412347 7771315 180 270-55 240 TCKR007 412338 7771115 180 270-60 120 TCKR008 412388 7771115 179 270-60 198 TCKR009 412290 7771415 176 270-60 168 TCKR010 412278 7771516 180 270-60 168 TOTAL 1,272 AOH0391 9.
APPENDIX 3: DETAILS OF DRILLING PROGRAMME AND SAMPLING, ASSAYING Drilling TCKR series holes were Reverse Circulation (RC) hammer drilled so as to produce maximum sample return with a minimum of contamination. Drilling was performed using a Swick Mining Services configured Schramm T685 RC drill rig with face sampling hammer. Auxiliary air compressor and booster, with a minimum capacity of 1000psi and 2700cfm, were utilised for sample return and dryness. All holes were drilled at 5.5 inch diameter. RC drill chips were collected in one metre intervals at the rig using a rotary splitter. LEB series holes were completed by Drill Torque with a TD350 model rig mounted on an Isuzu 4x4 truck. All holes were drilled with a 4.5 inch Rotary Air Blast (RAB) hammer bit. RAB chip samples were collected with a scoop over 1-6m intervals at the discretion of the supervising geologist. Assay Methods RC chip sample assaying was undertaken at Australian Laboratory Services (ALS) in Townsville. A suite of 51 elements including copper, silver and sulphur were determined by method ME- MS41 (Aqua Regia digest with ICP-MS). Gold was determined by method Au-AA25 (30g fire assay with AAS). Samples with greater than 1% copper were re-analysed using an ore grade Aqua Regia and ICP-AES or AAS method (Cu-OG46). Other analytes with greater than 1% assays were analysed with Aqua Regia and ICP-AES or AAS method (ME-OG46, Zn-OG46, Ag- OG46). Reference standards and blanks were inserted into the sample stream in the ratios 1:20 and 1:40, respectively. Field duplicates were collected with every 20th sample. RAB drilling samples were assayed at Australian Laboratory Services (ALS) in Townsville using the ME-MS41 method for 51 elements. Any samples exceeding 1% copper were re-analysed using the ME-OG46 method. Randomised reference standards were inserted into the sample series every 40th sample. Data Aggregation Significant Turkey Creek RC intercepts reported for those intercepts with average grades above 0.4% copper. Intercepts were calculated using a 3 metre minimum intercept length, a 6 metre maximum internal waste and a lower cut-off grade of 0.3% copper. Significant RAB results are reported for holes where maximum copper grade exceeds 0.1%. AOH0391 10.
APPENDIX 4: RESOURCE ESTIMATES FOR THE ROSEBY PROJECT Summary of Mineral Resource Estimates for the Roseby Project TOTAL CONTAINED METAL MEASURED INDICATED INFERRED DEPOSIT Tonnes Grade Copper Gold Tonnes Grade Tonne Grade Tonnes Grade million Cu Au Cu Au Cu Au Cu Au tonnes ounces million million million % g/t % g/t % g/t % g/t COPPER-GOLD DEPOSITS Little Eva 100.3 0.54 0.09 538,000 271,000 36.3 0.63 0.08 41.4 0.48 0.08 22.6 0.49 0.11 Ivy Ann 7.5 0.57 0.07 43,000 17,000 5.4 0.60 0.08 2.1 0.49 0.06 Lady Clayre 14.0 0.56 0.20 78,000 85,000 3.6 0.60 0.24 10.4 0.54 0.18 Bedford 1.7 0.99 0.20 17,000 11,000 1.3 1.04 0.21 0.4 0.83 0.16 Sub-total 123.4 0.55 0.10 675,000 384,000 36.3 0.63 0.08 51.7 0.52 0.09 35.5 0.51 0.13 COPPER ONLY DEPOSITS Blackard 76.4 0.62 475,000 27.0 0.68 6.6 0.60 42.7 0.59 Scanlan 22.2 0.65 143,000 18.4 0.65 3.8 0.60 Longamundi 10.4 0.66 69,000 10.4 0.66 Legend 17.4 0.54 94,000 17.4 0.54 Great Southern 6.0 0.61 37,000 6.0 0.61 Caroline 3.6 0.53 19,000 3.6 0.53 Charlie Brown 0.7 0.40 3,000 0.7 0.40 Sub-total 136.7 0.61 840,000 27.0 0.68 25.0 0.64 84.7 0.59 TOTAL 260.1 0.58 0.05 1,515,000 384,000 63.2 0.65 0.05 76.7 0.55 0.06 120.1 0.56 0.04 See ASX release of 26 July 2011, 19 December 2011, 23 April 2012, 3 July 2012 and 22 August 2012 for full details of resource estimation methodology and attributions. Note: All figures may not sum exactly due to rounding. Little Eva is reported above a 0.2% copper lower cut-off grade, all other deposits are above 0.3% copper lower cut-off grade. AOH0391 11.