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| 30 November 1999 SYNTHETIC RUTILE Monto Minerals NL has been approached by a major Australian company to join with them in the development of a Synthetic Rutile plant on the coast in Central Queensland. This relationship would provide the funding to develop the mining and processing operations for the Goondicum Crater Ilmenite and Titano-magnetite Project. Conditional upon this relationship is the development and operation of a Synthetic Rutile plant. The production of Synthetic Rutile has been a medium term plan for the Company. This opportunity would accelerate the development of Monto Minerals’ plans to produce an added-value product. Negotiations are at the draft Heads of Agreement stage. BY-PRODUCTS Recent bulk testing has produced a non-magnetite product in substantial quantities comprising apatite and plagioclase feldspar. Apatite is used in the fertilizer and chemical industry and plagioclase feldspar is used in the ceramics industry. Further investigations into the quality and marketability of these products is proceeding. A draft report on the vanadium recovery from a representative bulk sample of titano-magnetite indicates that it is not of sufficiently high grade to be a viable product stream for vanadium recovery. However, as isolated samples have provided higher vanadium content the Company intends to pursue exploration in that area. By Order of the Board 22 October 1999 APPOINTMENT OF COMPANY SECRETARY - MR G M EDWARDS The Board of Monto Minerals is pleased to announce the appointment of Mr Garry M Edwards as Company Secretary of the Company. Mr Edwards is also Company Secretary of Macmin NL, another listed company involved in minerals and based on the Gold Coast. He has held that post for several years and his experience is well suited to his role with Monto Minerals. By Order of the Board LAURIE G JOHNSON Managing Director 9 October 1999 APPOINTMENT OF DIRECTOR - MR PETER G DOWLING The Board of Monto Minerals is pleased to announce the appointment of Mr Peter G Dowling as a Director of the Company, effective 19 October 1999. Mr Dowling is a Chartered Accountant. He recently retired as a Taxation and Business Advisory Partner with Ernst & Young’s Brisbane office. He previously held positions as Queensland Marketing Partner and Queensland Head of Ernst & Young’s Mineral and Energy Focus Group and was the Queensland Member of Ernst and Young’s national Minerals and Energy Group. Mr Dowling is also Deputy Chairman of Stanwell Corporation Limited, a Queensland owned electricity generator. Mr Dowling’s expertise and experience is expected to be of great benefit to the Company as its Goondicum Ilmenite and Titano-magnetite Project progresses through feasibility, funding and development. By Order of the Board LAURIE G JOHNSON Managing Director September 1999 ASX RELEASE Mr John Cornelius has resigned as a Director from the Board of Monto Minerals NL. Mr Cornelius’s resignation has been accepted by the Board. 29 September 1999 ASX RELEASE MONTO MINERALS APPOINTS KVAERNER AS GOONDICUM STUDY PROJECT CO-ORDINATOR The Directors of Monto Minerals NL today announced the appointment of Kvaerner Process (Australia) Pty Ltd (Kvaerner) as the Project Co-ordinator for a Feasibility Study for the Company’s Goondicum Ilmenite Project. As part of the international Kvaerner Group, Kvaerner has conducted feasibility studies in all facets of the resources sector including considerable mineral sands experience. The appointment of Kvaerner, with their extensive resources experience and specific knowledge of the Goondicum area through previous work for the Company, will contribute to a robust and definitive study of the highest standard. When complete the Feasibility Study will be a major milestone in the advancement of the Goondicum Ilmenite Project. Kvaerner will manage and co-ordinate all technical activity to ensure the completion of a Feasibility Study Report which can be used in the Company’s future project funding activities. Monto Minerals were recently granted Mining Leases 80044 and 80075 covering the initial Goondicum Crater mining area and the proposed mineral separation plant site at Dakiel, 30km by rail north-east of the town of Monto. By Order of the Board Laurie G Johnson Managing Director 6 September 1999 ASX ANNOUNCEMENT MONTO MINERALS GOONDICUM ILMENITE PROJECT GIVEN MAJOR BOOST Two Mining Leases Granted Monto Minerals now has all leases in place for the development of its Goondicum Ilmenite Project with the grant of key mining leases by the Queensland Government. Mining Lease No. 80044 (Crater Lease) of approximately 518 hectares was granted on 2 September 1999, for 12 years. ML No. 80044 contains a Measured Resource of 2,300,000 tonnes of ilmenite within 46 million tonnes of eluvial material. The average grade of ilmenite is 4.9%. ML No. 80075 (MSP Lease) was granted on 19 August covering approximately 5.2 hectares for 30 years. This lease is situated adjacent to the Maryborough Gladstone rail line at Dakiel, 30 kilometres north of the town of Monto. It is proposed to establish a Mineral Separation Plant (Dry Mill) and train loading facility on this site. Monto Minerals’ Chairman, Terry Morris, said on announcing the issue of the mining leases “this boost for the Project comes hard on the heels of the encouragement obtained from preliminary results from recent further pitting and drilling work which is expected to significantly upgrade the Measured Resource within the Goondicum Crater”. “We welcome the Queensland Government’s expression of confidence in the Project. Now that the key mining leases are granted and with the recent successful fund raising, we are approaching the Final Feasibility Study with greater confidence.” Monto Minerals NL raised $3.76 million by a fully underwritten rights issue in July 1999 and have commenced a Final Feasibility Study aimed at reconfirming and optimising the economic viability of producing an average 275,000 tpa of ilmenite for the titanium dioxide (TiO2) pigment production industry as well as 100,000 tpa of titano-magnetite. The Final Feasibility Study will be used to raise the funding necessary to bring the Goondicum Crater mine into production anticipated in 2001. By Order of the Board L G JOHNSON Managing Director Further information: Mr L G Johnson (T) 07-5574 3999 19 August 1999 ASX ANNOUNCEMENT APPOINTMENT OF ALTERNATE DIRECTOR - MR JOHN E LYNCH Mr John E Lynch has been appointed as Alternate Director for the Chairman of Monto Minerals NL, Mr Terry E Morris. Mr Lynch, has extensive experience in public company management, mine development, mine geology and the exploration and evaluation of mineral projects. Mr Lynch was the founding director and general manager of Pan Australian Mining Limited, now Normandy Mount Leyshon Gold Mines Limited, where he was directly responsible for the successful evaluation and development of the highly successful Mt Leyshon gold mine in North Queensland. Prior to that he held the position of exploration manager, Marathon Petroleum Australia Ltd, exploration manager and chief geologist, Metals Exploration Limited and assistant exploration manager, North Limited (formerly North Broken Hill Limited). Mr Lynch is currently Managing Director of Werrie Gold Limited a company listed on ASX, is also a director of Weda Bay Minerals Inc. a Canadian Publicly listed company and the principal of Lynch Mining Pty Ltd Mr Lynch graduated in geology from the University of Sydney in 1967 and in 1983 completed a Master of Science degree in economic geology. He is a fellow of the Australian Institute of Mining and Metallurgy and a fellow of the Australian Institute of Directors. Mr Morris said on Mr Lynch's appointment "the mining experience available through Mr Lynch provides the Company with a further dimension of successful mine evaluation and operation and it comes as Monto enters its Goondicum Crater Ilmenite Project Final Feasibility Study with a new drive and determination". By Order of the Board L G Johnson Managing Director 12th August 1999 ASX ANNOUNCEMENT GOONDICUM CRATER ILMENITE PROJECT - FINAL FEASIBILITY STUDY RESOURCE EXTENSION PROGRAMME DRILLING COMPLETED Drilling in the south-western and north-eastern zones of the Goondicum Crater has been completed with the target areas able to be covered by 1809.9 meters (294 holes) of a projected 2500 meter programme. Drill holes varied between 2.0 and 15 meters deep. All holes driiled in the eluvium from the Goondicum Gabbro showed mineralisation from the surface. Samples have been despatched to H T Readings Pty Ltd, Lismore where they will be analysed and fully assessed. This programme is designed to define a Measured Resource in the south-western zone and an Indicated resource in the north-eastern zone of the Goondicum Crater. 2,300,000 tonnes of ilmenite has already been defined as a Measured resource in Mine Lease Application No. 80044, located in the north-western zone of the crater. By Order of the Board L G JOHNSON Managing Director 4 August 1999 ASX ANNOUNCEMENT GOONDICUM CRATER ILMENITE PROJECT - FINAL FEASIBILITY STUDY LAUNCHED Following receipt of 100% of its fully underwritten Rights Issue proceeds ($3.76 million) and the allotment of shares, Directors advise that field elements of Monto's Goondicum Crater Ilmenite Project, Final Feasibility Study have commenced. Pitting Programme: A 17 pit Programme within the area of Measured Resource in Mining lnicence Application No. 80044 (Goondicum Crater) has been completed. 9 tonnes of sample was obtained from the pits. This will assist in the correlation of drilling results, establishment of mining and water management parameters, optimisation of metallurgical flow sheets and produce bulk sample of ilmenite and titano-magnetite for marketing purposes. Resource Extension Programme: A Programme of 2500 metres (approxlmately 320 holes) of reverse circufation drilling and sampling in the south-western and north-eastem sectors ot the Goondicum Crater has commenced. This Programme is designed to define a Measured Resource in the south-westem zone and an lndicated Resource in the north-eastem zone of the Goondicum Crater, 2,300,000 tonnes of ilmenite has already been defined as a Measured Resource in Mine Lease Application No. 80044, located in the north-westem zone of the Crater. The reverse circulation drilling and sampling programme is expected to be completed in mid August. Sample analysis and resource calculations will be incorporated into the Final Feasibility Study. By Order of the Board; J W CORNElIUS Executive Director This ennouncement complies with the 1996 Australasian Code for Reporting of identified Mineral Resources and Ore Reserves Report prepared by the Joint Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia as set out in Appendix 5A of the Listing Rules of the Australian Stock Exchange. The statements are based on, and fairly reflect, mineral resources and/or ore reserve reports compiled by Mr L G Johnson, a full time employee of the company, who is a Fellow of the Australasian Institute of Mining and Metallurgy and who has a minimum of five years of appropriate experience. 30th July 1999 REPORT ON ACTIVITY FOR THE QUARTER ENDED 30TH JUNE 1999 Project Funding The Directors announced a placement to Hong Kong based investment group Aperchance Company of 3,300,000 fully paid ordinary shares raising $280,500 in May. At the same time the Lim Hwee Meng Placement Deed terminated as Monto Minerals had not received from Mr Lim all of the information required to enable Monto Minerals to prepare an explanatory memorandum and notice of meeting to shareholders in relation to the proposed transactions and to convene the necessary general meeting. On June 11, 1999 the Directors released details of a rights offer to shareholders to raise approximately $3.76 million and a Prosectus was despatched to shareholders on 28th June 1999. These funds will be used to upgrade the Goondicum Crater Initial Feasibility Study to a Final Feasibility Study as outlined in the Prospectus dated 28th June 1999. Goondicum Ilmenite Project • Mining Lease Application Number 80075 (Mineral Seperation Plant site) at Dakiel on the Maryborough to Gladstone rail line has now been recommended by the Mining Warden for grant. The EMOS lodged with the Department of Mines and Energy has been accepted. The Compensation Agreement with the freehold landowner has been completed by all parties and has been registered with the Mining Registar. This completes all statutory requirements and the lease application will now be forwarded to the Minister for Mines and Energy for consideration for grant. • A hydrological modelling study on the proposed weir was commenced during the period. This study is expected to take approximately 6 weeks to complete. • Compilation of study results for the Impact Assessment Study (IAS) concerning the proposed weir commenced during the period. L G JOHNSON Managing Director 22nd July 1999 ASX ANNOUNCEMENT 1:1 FULLY UNDERWRITTEN NON-RENOUNCEABLE RIGHTS ISSUE CLOSED Directors of Monto Minerials today advised that the fully underwritten non-renounceable entitlements issue of 53,689,514 shares at 7 cents has been closed as scheduled with 45.03% - $1.69 million of the $3.768 million issue subscribed. Underwriters have been advised of the shortfall and holder statements are expected to be despatched on the 30th July 1999. The issue securities have been listed by the ASX on a "Deffered Settlement" basis, code MOON. By Order of the Board L G JOHNSON Managing Director |
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