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Last Updated: 01/05/2012

High Grade Intercept

Best Tasmania Reef gold intersection since 1983

Drillhole J26 intersects 46.7 g/t gold over 11.4m, including 115.7 g/t over 2.7m

New zone of thick, high grade reef close to existing development is confirmed and extended

Existence of new high grade zone was initially suggested by drillholes J23 (14.4 g/t gold over 12.5m) and J17 (8.8 g/t over 24.3m), both announced in April

BCD Resources CEO, Bill Colvin said: “This exciting, thick, bonanza-grade intersection is the best obtained from the main Tasmania Reef since 1983 and demonstrates the very real potential for substantial high grade resource growth.

The new high grade zone defined by drillholes J17, J23 and J26 is now emerging as a very significant, near-term source of low cost gold production.  I expect it to add materially to the Tasmania Mine’s JORC Reserves which were calculated at 285,000 ounces in December 2009”.