Siren Gold Limited provided an update on the significant potential of its Lyell Prospect. The Lyell Goldfield is located 40kms north of Reefton, where gold bearing quartz lodes were historically worked over a continuous strike length of 5kms. The Lyell Goldfield is the northern extension of the Reefton Goldfield that produced 2 Moz of gold at an average recovered grade of 16g/t. The project overlays the historic Alpine United mine, which produced 80koz of gold at an average recovered grade of 17g/t between 1874 and closing in 1912. Several other small mines, such as the Break of Day, Tyrconnell and United Italy, also operated historically north of the Alpine United mine.

These are reported to have worked high grade quartz leaders up to about 10 cm in width but they only produced only small tonnages. Three historical quartz reef mines, Titchborne, Victor Emanual and the United Victory, were located further north. Not much is known about the Titchborne and Victor Emanual, although excerpts from historical newspapers indicate they worked quartz reefs around 1880, with mines serviced by the Titchborne stamper battery.

The United Victory Mine was worked over at least two levels. Soil sampling has confirmed a NNW trending 4km long anomalous gold zone between the Alpine United and United Victory mines. The Break of Day mine is also located along this anomaly.

The soil samples have identified several anomalous areas which may represent mineralised shoots similar to those seen at Alexander River. The Alpine United mine shoot plunged 45 o to the north and was mined down to 500m below the surface and 750m down plunge and is open at depth. A total of 80koz @ 17g/t Au was recovered from the mine.

Recent exploration has focused on the Mt Lyell North area that extends for at least 1km to the SE of the United Victory mine. Mt Lyell North is a new discovery with no historic mining or previous exploration, except for the small United Victory mine, which was mined over two levels, but no production records or details are available. Two trenches (LYTR001 and LYTR002) approximately 100m apart were excavated across the Mt Lyell North mineralised zone.

The trenches intersected disseminated arsenopyrite with thin grey quartz veins. LYTR001 exposed a 7m thick mineralised zone that averaged 7m @ 13.8g/t Au, with 1m grades as high as 25g/t Au. The true thickness of the intersection is interpreted to be around 5m.

LYTR002 exposed an 8m thick mineralised zone that averaged 8m @ 6.3g/t Au, with 1m grades as high as 29.7g/t Au. The true thickness of this intersection is also interpreted to be around 5m. During recent fieldwork two additional trenches (LYTR003 and LYTR004) were excavated approximately 100 and 200m north of LYTR001 across a high-grade soil anomaly, and an outcropping quartz reef with significant visible gold was found in a creek close to the United Victory mine.

This reef and the adjacent country rock were channel sampled at three locations and called LYTR005, LYR008 and LYR009 over a 20m strike length. Channel sample LYR009 was located a further 3m along strike to the north of LYTR005 and returned 3.0m @ 19.1g/t Au, comprising a 0.4m quartz reef with visible gold that assayed 39.0g/t Au, surrounded by disseminated arsenopyrite mineralised sandstone that assayed 42.0g/t Au and 1.4g/t Au. Channel sample LYR008 was located a further 12.5m along strike to the south and returned 1.1m @ 36.0g/t Au, comprising a 0.43m quartz reef with visible gold that assayed 70.0g/t Au, surrounded by disseminated arsenopyrite mineralised sandstone that assayed 31.0g/t Au and 3.2g/t Au.

The high-grade footwall (31g/t Au) was not fully exposed, so the mineralisation is likely to be thicker than sampled. Channel sample LYR005 returned 1.7m @ 11.5g/t Au, comprising a 0.5m quartz reef with visible gold that assayed 15g/t, surrounded by disseminated arsenopyrite mineralised sandstone that assayed 6.7g/t Au and 14.9g/t Au. A float sample of the United Victory Reef with significant visible gold was found immediately downstream of the outcrop that assayed 205g/t Au.

An acicular arsenopyrite mineralised outcrop was also found 30m to the south of LYTR008, with a grab sample returning 6.4g/t Au. A float sample of sulphide rich sandstone, a further 50m upstream from the reef outcrop, returned 12.7g/t Au and 0.24% Sb. This sample is likely to have come from the reef on the ridge above the creek.

These samples extend the mineralised zone to around 100m along strike and it is open to the north and south. The gold soil geochemistry indicates this zone extends for a few hundred metres further south and may connect with the western anomaly at Mt Lyell North. The current soil geochemistry only extends 100m north of the mineralised outcrop and will be extended.

Exploration - Next Steps: Field exploration will continue over the next quarter with additional mapping, soil sampling and trenching, followed by diamond drilling planned as follows: Mapping: Mapping and rock chip sampling of the United Victory reef, along strike to the north and south of the discovery outcrop. Soil Sampling: Additional soil sampling between the discovery outcrop and the anomaly on the northern permit boundary. Trenching: Trenching will continue, with additional trenches at Mt Lyell North and commencement of trenching at Mt Lyell.

Diamond drilling: A Department of Conservation (DoC) Access agreement is currently being reviewed by DoC, which will allow drilling of the Alpine United, Mt Lyell and Mt Lyell North Shoots. The initial drilling will focus on defining the extent and plunge of the Mt Lyell North - United Victory Shoot/s.