Indophil Resources NL - Philippines Exploration

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OTHER EXPLORATION

The Company`s current exploration portfolio includes prospects within four geographically distinct exploration areas in the Philippines – Northern Luzon, Southern Luzon, Central Mindanao and East Mindanao.

The prospects lie within three granted licenses and seventeen tenement applications totalling approximately 2700km² and contain diverse styles of gold and copper-gold mineralisation including vein, stockwork and breccia hosted epithermal gold-silver mineralisation, porphyry related copper-gold systems with associated copper-gold skarns and metasomatic replacement deposits. All prospects contain significant hydrothermal alteration of host sequences with either significant associated mineralisation or geochemical anomalies. The prospects range from the more advanced Manat Project in East Mindanao where the Company has defined an Inferred Resource (JORC) containing 245,000ozs gold and associated base metals to the early stage Central Mindanao Project area where reconnaissance sampling and geological interpretation has identified 19 separate targets for followup exploration.

In addition to its already held prospects, Indophil has an active program of assessing new project opportunities throughout the Philippines to further upgrade its exploration portfolio.

Summary of Indophil`s Exploration Portfolio
Project Area	Prospect	Area & Tenement	Target Type	IRN Equity	Status & Highlights
Northern Luzon	Balatoc	50.7km² 2 EPA	Epithermal Au-Ag & Porphyry Cu-Au	85%	Heads of Agreement which provides the opportunity to earn up to 85%. Adverse claims disputing tenement applications need resolution. Historical studies by previous owners of the prospect identified exploration potential for a copper deposit in the range of 80-90 million tonnes grading 0.6-0.7% copper and 0.2-0.3g/t gold plus exploration potential for a gold deposit in the range of 0.8-1.2 million tonnes grading 10-15g/t gold.
East Mindanao	Manat	45.5km² 1 MPSA 1 APSA	Epithermal Au-Zn-Pb veins and Porphyry Cu-Au	25%	Magas Vein System has JORC compliant Inferred Resource containing 245,000ozs gold, 2.28Mozs silver, 22,500t lead and 42,000t zinc which is open at depth and along strike. Discovery of a new porphyry system including 227m @ 0.19% Cu, 0.30g/t Au.
East Mindanao	Bunawan	24.6km² 1 APSA	Vein & Volcanic hosted disseminated Au	100%	Early exploration. Strong stream sediment Au anomalies associated with extensive areas of hydrothermal alteration. Delays being experienced due to title conflict.
Southern Luzon	Labo	28.5km² 2 MPSA	Epithermal Au, Porphyry & Skarn associated Cu-Au	100%	Properties farmed out to Bulawan Resources in 2006-07. Reassessment of the project area planned following return of property to Indophil. Significant intersection of 5.99m @ 4.87g/t gold in pre-farm out Indophil drilling. Gold geochemical anomalies remain to be tested.
Central Mindanao	Buda, Mt Kinabalin	2,543km² 13 EPA	Epithermal Au, Porphyry Cu-Au and VMS	100%	Two blocks of tenement for grant, 10 licences subject to joint venture with Freeport. Early reconnaissance exploration with 19 separate targets identified for follow-up. Channel sampling of a massive sulphide lens at Bangan returned 5.8m @ 31g/t Au, 80g/t Ag and 1.05% Cu.
Notes: IRN equity is maximum attainable on tenement approval or meeting earn-in obligations. EPA = Exploration Permit Application; EP = Exploration Permit; APSA = Application for Mineral Production Sharing Agreement; MPSA = Mineral Production Sharing Agreement.