Crater Gold Mining Limited announced the preliminary results from the recently completed XCITE Electromagnetic and Magnetic Survey (EM) flown over its polymetallic tenements, EPM's 16002. EM Anomaly 5.4, located within Anomaly A5 prospect in EPM 16002, is considered to be a priority target as it is co-incident with the A5 aeromagnetic anomaly and SGH soil sampling Cu-Ag-Au anomalism. In addition, several other EM targets have been identified, including weaker strength anomalies at the A5 (EM targets 5.2 and 5.5) and A3 (EM target 3.1) aeromagnetic anomaly areas. The blue crosses on and 6 indicate the strongest targets, with the green crosses indicating additional moderate to weak EM anomalies. 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, the final report is now not expected to be available until around the end of November. Aeromagnetic Anomaly A5: Anomaly A5 was previously identified by a Queensland Government Aeromagnetic survey. The anomaly is a small, discrete, almost circular aeromagnetic low, approximately 30 nT in amplitude, 800m in diameter and located in the central western side of the EPM block. It occurs immediately SW of a larger aeromagnetic anomaly complex (hosting EM Anomaly 5.1) that is elongated NW-SE, is about 20km in length and about 10km in width. EM Anomaly 5.4 was also investigated by Spatiotemporal Geochemical Hydrocarbon (SGH) soil sampling. This indicated co-incident polymetallic-silver-copper anomalism which was partly overlapped by gold anomalism all of which directly overlies the central part of the main (western) A5 aeromagnetic low which is a reversed magnetic high feature. This has provided encouragement not only from the co-incident anomalism but also from past drilling by the Company at Anomaly A2 (EPM 13775) which intersected polymetallic mineralisation that is also associated with a magnetic low (a reversed previous magnetic high). Aeromagnetic Anomaly A3 Aeromagnetic anomaly A3 is a small discrete, almost circular magnetic low, of approximately 20nT amplitude and around 1500m in diameter. It is possibly part of, or at
least associated with, relatively subtle, WNW and NW trending positive linear anomalies that are more apparent further to the SE. It appears from the data that the anomaly is caused by a body with reversed remanent magnetisation. The depths below ground surface to the main possible sources range from 170 to 245m. 4 sub-block tenement area of EPM 16002 that covers Anomaly A3. An EM Anomaly, A3.1, has been identified within A3 which is co-incident with the magnetic low (Figure 6). This co-incident is considered to be of particular interest. Anomaly A6 (EPM 16002) and EPMs 13775 and 26749 Interpretation of the EM data for these areas in still in progress, but is expected to be completed later in November.