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QUARTERLY REPORT: 1 JULY to 30 SEPTEMBER 2011

HIGHLIGHTS

Lennard Shelf Zinc Project (Western Australia)
 
Drilling at the Kubra Prospect confirmed Meridian has discovered a new, +600m long, trend of high grade lead and zinc mineralisation, outside of the existing Kapok West and Cadjebut Splay Mineral Resources;

Drill results from the Kubra Prospect include:
- CS11-112, 18m @ 12.9% Pb+Zn from 372m including 7m @ 31.0% Pb+Zn from 381m
- CS11-113, 17m @ 12.9% Pb+Zn from 378m including 7.8m @ 17.9% Pb+Zn from 386m
- CS11-107 – 7m @ 9.3% Pb+Zn from 315m and 3m @ 9.3% Pb+Zn from 330m
- CS11-111 – 7m @ 9.0% Pb+Zn from 353m including 2.75m @ 15.7% Pb+Zn from 357.25m

The mineralisation encountered in CS11-112 and CS11-113 is some of the thickest and highest grade zones discovered at the Kubra Prospect;

The new intersections demonstrate the potential for further extensions of the high-grade mineralisation to the north and at depth at the Kubra Prospect;

Following the completion of drilling at the Kubra Prospect, the Lennard Shelf Project was placed on care and maintenance whilst the takeover of Meridian by Northwest Nonferrous International Investment Company Ltd (‘Northwest’) proceeds.


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