Crater Gold Mining Limited announced preliminary results from the recently completed XCITE Helicopter Electromagnetic and Magnetic Survey (HEM) flown over its gold-graphite tenements, EPMs 8795 and 18616. There are numerous strong anomalies defined, together with additional moderate to weak strength anomalies. The red stars on the figures indicate the strongest /higher priority anomalies, with the black stars indicating the additional moderate to weak anomalies.

A strong cluster of high priority anomalies are defined in the Golden Gate Graphite Project area. Graphite is particularly conductive and commonly well defined in HEM surveys as is the case here. Many of the anomalies are represented as extensive linear type conductive units with a well-defined easterly dip.

There is also possible evidence for the presence of more localised thicker fold-type/pipe-like conductors. More detailed analysis will be available when the final interpretation report is received. While the levelled data from NRG has been received by the Company's consultant geophysicist, due to the large amount of anomalous data obtained, the final report is now not expected to be available until around the end of October.

Preliminary results are not yet available for the polymetallic tenements (EPMs 13775, 16002 and 26749). Preliminary interpretation results are not now expected until around mid-October for these tenements.