Wetar Project Update Clarification
July 07 2010 - 5:36AM
UK Regulatory
TIDMFND
For Release: 7th July 2010
FINDERS RESOURCES LIMITED
Wetar Project Update & Notice-Clarifying Statement
We have been advised, by the ASX, that the Ore Reserves quoted in today's
release to the ASX, entitled Wetar Project Update and Notice require a full
breakdown of those Reserves. This information has been announced previously and
is now reported again.
The Ore Reserves were independently assessed by Australian Mine Design &
Development Pty Ltd and in accordance with the JORC Code (Table 1). The
following statement uses a cut-off of 0.5% copper for two pits at Kali Kuning
and Lerokis with an overall waste to ore ratio of 0.98.
=-----------------------------------------------------------------------------
Table 1: Wetar Ore Reserves
=-----------------------------------------------------------------------------
Category Tonnes (m) Grade % Cu Contained Contained Copper
Copper (kt) Attributable to
Finders (94%) (kt)
Kali Kuning Pit Proved 4.91 2.5 123 116
Probable 0.85 2.2 19 18
Sub-Total 5.76 2.5 142 133
=-----------------------------------------------------------------------------
Lerokis Pit Proved 2.05 2.4 49 46
Probable 0.37 2.3 9 8
Sub-Total 2.42 2.4 58 55
=-----------------------------------------------------------------------------
Combined Proved 6.96 2.5 172 162
Probable 1.22 2.2 28 26
Total 8.18 2.5 205 193
=-----------------------------------------------------------------------------
The tonnes and grades are stated to a number of significant digits reflecting
the confidence of the estimate. Since each number and total is rounded
individually the columns and rows in the above table may not show exact sums or
weighted averages of the reported tonnes and grades.
Further details for all projects may be found on the Finders website
atwww.findersresources.com
Finders Resources Ltd:
Russell Fountain Non-Executive Chairman +61 2 9211 8299
Chris Farmer Managing Director info@findersresources.com
Financial PR:
Nick Elwes College Hill (in the UK) +44 20 7457 2020
RFC Corporate Finance Ltd - Nomad:
Rob Adamson Managing Director +61 2 9250 0000
Stuart Laing Executive Director +61 8 9480 2500
FinnCap - Finders' Broker for the AIM market:
Matthew Robinson Corporate Finance Director +44 20 7600 1658
Joe Lunn Analyst +44 20 7600 1658
Finders Resources Ltd through its subsidiary PT Batutua Tembaga Raya and partner
PT Batutua Kharisma Permai are proud sponsors of Sail Banda 2010
sailbanda.com
Competent Person Statements
The information in this report that relates to exploration potential, mineral
resource and ore reserve estimation is the responsibility of Dr Russell
Fountain. Dr Fountain is a Director of Finders and a Fellow of the Australian
Institute of Geoscientists. Dr Fountain has sufficient experience that is
relevant to the styles of mineralisation and types of deposits under
consideration and to the activity that he is undertaking to qualify as Competent
Person in the 2004 Edition of the 'Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves' (JORC Code) and as a
Qualified Person as defined in the AIM Rules. He consents to the inclusion in
this report of the matters based on his information in the form and context in
which they appear. All assaying of drill core samples was undertaken by the ITS
laboratory in Jakarta. ITS is one of the world's largest product and commodity
testing, inspection and certification organizations. The Jakarta laboratory is
ISO 17025 accredited and employs a Laboratory Information Management System
(LIMS) for sample tracking, quality control and reporting.
Disclaimer
This announcement may or may not contain certain "forward?looking statements".
All statements, other than statements of historical fact, which address
activities, events or developments that Finders believes, expects or anticipates
will or may occur in the future, are forward?looking statements. Forward?looking
statements are often, but not always, identified by the use of words such as
"seek", "anticipate", "believe", "plan", "estimate", "targeting", "expect", and
"intend" and statements that an event or result "may", "will", "can", "should",
"could", or "might" occur or be achieved and other similar expressions. These
forward?looking statements, including those with respect to permitting and
development timetables, mineral grades, metallurgical recoveries, potential
production reflect the current internal projections, expectations or beliefs of
Finders based on information currently available to Finders. Statements in this
document that are forward-looking and involve numerous risks and uncertainties
that could cause actual results to differ materially from expected results are
based on the Company's current beliefs and assumptions regarding a large number
of factors affecting its business. Actual results may differ materially from
expected results. There can be no assurance that (i) the Company has correctly
measured or identified all of the factors affecting its business or the extent
of their likely impact, (ii) the publicly available information with respect to
these factors on which the Company's analysis is based is complete or accurate,
(iii) the Company's analysis is correct or (iv) the Company's strategy, which is
based in part on this analysis, will be successful. Finders expressly disclaims
any obligation to update or revise any such forward?looking statements.
No Representation, Warranty or Liability
Whilst it is provided in good faith, no representation or warranty is made by
Finders or any of its advisers, agents or employees as to the accuracy,
completeness, currency or reasonableness of the information in this Announcement
or provided in connection with it, including the accuracy or attainability of
any Forward Looking Statements set out in this Announcement.
Finders does not accept any responsibility to inform you of any matter arising
or coming to Finders' notice after the date of this Announcement which may
affect any matter referred to in this Announcement.
Any liability of Finders, its advisers, agents and employees to you or to any
other person or entity arising out of this Announcement including pursuant to
common law, the Corporations Act 2001 and the Trade Practices Act 1974 or any
other applicable law is, to the maximum extent permitted by law, expressly
disclaimed and excluded.
Distribution Restrictions
The distribution of this Announcement may be restricted by law in certain
jurisdictions. Recipients and any other persons who come into possession of this
Announcement must inform themselves about, and observe any such restrictions.
[HUG#1430057]
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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
All reproduction for further distribution is prohibited.
Source: Finders Resources Limited via Thomson Reuters ONE
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