Updated study results for the Dairi Project

  Herald Resources Ltd has announced updated definitive feasibility study results for the highgrade Dairi zinc/lead project which confirm the robust economics of the project.The definitive feasibility study (DFS) is based purely on the Anjing Hitam deposit, with no account taken of other deposits at the project such as Lae Jehe (Resources of 6.5MT at 11% Zn, 6% Pb) which is currently the subject of a pre-feasibility study. Given these positive results, the board of Herald is confident of the project's ability to deliver strong returns for shareholders. Herald Chairman Terry Allen said the review re-affirmed the company's belief that Dairi is an outstanding zinc-lead project. “These figures are based solely on the Anjing Hitam deposit where we have reserves of 6.5 million tonnes grading 14% zinc and 9% lead,” said Mr Allen. “We have an initial mine life at Dairi of 7 years but are very hopeful this can be extended substantially with additional mill feed from other deposits in the area”. “For example, our nearby Lae Jehe deposit, which has Resources of 6.5 million tonnes at 11% zinc and 6% lead, (Indicated 4.6MT at 11.6% Zn, 6.2% Pb & Inferred 1.9MT at 10.6% Zn, 5.9% Pb) is presently the subject of a pre-feasibility study, with positive metallurgical testwork already to hand and mining studies ongoing.”