Xtract Resources Plc announce the results of a second stage review of pre-concentration options for the Bushranger project in the Lachlan fold NSW, Australia prepared for the Company by Altrius Consulting Pty ("Altrius"). Highlights: The Altrius review concluded that while the Racecourse mineralisation is not considered amenable to upgrade by Tomra ore sorting, other methods of ore sorting/pre-concentration may be more suitable and the Bushranger flowsheet may benefit from alternative pre-concentration technologies. To this end Altrius has recommended further test work on Pre-Screening, Gravity Separation and Coarse Particle Floatation.

Accordingly, test work is now being undertaken by ALS in Perth on Pre-Screening and Dense Media Separation (two separate tests). In addition, the Company has commissioned NovaCell Coarse Particle Floatation test work, and this work is progressing favourably. As previously reported, the Bushranger Racecourse project has the potential to be economically mined at rates of 20Mtpa or greater at USD10,000 per tonne copper price or above.

The objective of the current work is to re-assess the breakeven copper price for the Project. The Company will provide an update on the initial results which are expected before the end of the third quarter of this year.