Australian Gold and Copper Limited provided an update on the South Cobar licences where the AGC discovery team have uncovered a cluster of historic mines, called Creamy Hills gold mines at the South Cobar project, spanning 1.2km in length. Extensive historic gold mine workings called Creamy Hills gold mines have been recently discovered and sampled by AGC geologists. The mine workings are spread over 1.2km in length with a tight cluster of significant working 250m in length and as deep as 80m.

First pass sampling designed to determine the prospective rock types returned: rock chips to 24.4g/t gold within the shafts and dumps (CHRK019) and composite samples to 9.4g/t gold from mine tailings (CHRK021). The location of the gold mines is in a deformed wedge of folded rock within a back thrust of the major Woorara fault on the eastern edge of the Cobar Super Basin. This location is considered an analogous position to the World Class Cobar mines including the CSA Copper Mine north of Cobar which also sit within folds in the Rookery fault back thrust on the eastern edge of the Cobar Basin.

Significant potential exists for expansion as no modern geochemistry, geophysics or drilling has been conducted and the targets are open in every direction. A limited soil sampling test line returned two zones of elevated arsenic anomalism suggesting multiple stacked mineralized faults. Next steps are to complete a broader soil survey to map anomalism in the soils and expand the footprint.

Also at the South Cobar Project, Fender Geophysics crews mobilizing next week to conduct three induced polarisation (IP) geophysics surveys, targeting gold and base metal deposits adjacent to major fault structures at the Achilles, Hilltop and Planet prospects. AGC projects overview: AGC's portfolio located in the Central Lachlan Fold Belt of NSW includes the Moorefield gold project exploring for multi-million ounce orogenic gold deposits, the Cargelligo copper-gold/base-metal project in the southern Cobar Super-Basin exploring for Hera and Federation style deposits, and the Gundagai gold project, exploring for multi-million ounce McPhillamy's type gold deposits.