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Goldsearch Ltd, Project Update: Mary Kathleen Joint Venture

-  Blue Caesar prospect selected as the next area to be drilled within the Mary Kathleen Shear Zone– commencing early April 2013

-  Promising initial metallurgical test results from the Q4 2012 Elaine program – final results available by the end of March 2013

Goldsearch Limited (GSE) and Chinalco Yunnan Copper Resources Limited (CYU) are actively assessing the tenements, drilling programs and field operations at the Mary Kathleen/Mt Frosty joint venture.

GSE and CYU are focusing on defining and developing a commercial copper and gold project in the highly prospective region east of Mt Isa in north-western Queensland.

Field activities have continued to concentrate on the 12km long regional mineralised structure known as the Mary Kathleen Shear Zone (MKSZ). This zone contains the historic Mary Kathleen uranium mine and the Joint Venture’s 27.7Mt copper-gold discovery at Elaine. Within the portfolio of Joint Venture project interests in the Mt Isa region this is the area of primary focus of exploration.

As part of the resource upgrade and diamond core drilling program in Q4 2012 at the Elaine project, the Joint Venture has undertaken metallurgical scoping study testwork on diamond core selected from the main ore zone of the resource. Testwork is being undertaken at ALS Metallurgy Laboratory (Adelaide) with final reportable results expected by late March/early April 2013. The scoping testwork is primarily looking at the standard grind size and recovery studies for the copper and gold products.

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