Explorer 142

Explorer 142 (Cu-Au)

The Explorer 142 prospect shows very strong similarities to Rover 1 Au-Cu deposit located approximately 30kilometres to the east.

Explorer 142 is also an elongate magnetic bullseye feature but significantly larger than the Rover 1 target. The magnetic target is defined over a long axis of at least 1500m and strong copper and gold mineralisation has been intersected in a steeply dipping to vertical magnetic ironstone.

To date initial diamond drilling has only occurred over 400m of the total 1500 metre strike length intersecting high grade copper and lesser gold mineralisation over 250 x 350metres and remains open in nearly all directions. Recent downhole geophysical probing suggests second magnetite rich ironstone may occur immediately to the south and remains completely untested to date providing additional substantial upside.

Significant high grade drill results include:

   3m @ 2.18% Cu, 0.63g/t Au
   6m @ 2.21% Cu, 0.12g/t Au
 10m @ 2.98% Cu, 0.27g/t Au
   8m @ 4.01% Cu, 0.26g/t Au
   7m @ 3.06% Cu, 0.28g/t Au
   6m @ 4.88% Cu, 1.19g/t Au
   7m @ 0.89% Cu, 0.37g/t Au
   6m @ 1.68% Cu, 0.27g/t Au
   6m @ 2.21% Cu, 0.12g/t Au
   2m @ 2.95% Cu, 0.50g/t Au
   2m @ 1.39% Cu, 0.30g/t Au

During 2011, Westgold intends to continue to step out diamond drilling to expand the strong Cu-Au mineralisation with the aim of defining an initial 500,000 ounce gold equivalent resource¹ at Explorer 142. The Company has also recently undertaken a “state of the art” Heli TEM survey over the entire prospective target which if successful may provide improved drillhole targeting.

Westgold considers the prospect would be within economic trucking distance and therefore would potentially provide a secondary satellite ore source to the Rover 1 deposit and processing plant if sufficient resources are defined.

Rover 1 - Explorer 142 magnetic anomaly comparison

Please note AngloGold Ashanti currently holds an option to clawback 75% subject to certain conditions.
¹Exploration target: The information that relates to exploration targets refers to targets that are conceptual in nature, where there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a mineral resource.