CGA Mining Limited - Quarterly Activities Report

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO US NEWS WIRE 
SERVICES/ 
CGA ANNOUNCES SEPTEMBER QUARTERLY REPORT 
ANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE AND AUSTRALIAN SECURITIES EXCHANGE  
30 OCTOBER 2012 
HIGHLIGHTS 
PERTH, Western Australia, Oct. 30, 2012 /CNW/ - 
 _____________________________________________________________________
|                                                                     |
|                                                                     |
|    --  Proposed merger with B2Gold Corp. ("B2Gold") announced,      |
|        representing an offer price of C$3.18 per share based on the |
|        ratio of 0.74 and the last traded price of B2Gold prior to   |
|        announcement of the proposed merger                          |
|                                                                     |
|    --  On budget gold production from the plant of 47,646 ounces    |
|        (June Qtr 50,817 ounces)                                     |
|                                                                     |
|    --  Mill throughput 6% above budget at 1,702,574 tonnes (June Qtr|
|        1,728,751 tonnes)                                            |
|                                                                     |
|    --  Cost per tonne was $23.41  (June Qtr $22.76)                 |
|                                                                     |
|    --  Cash operating cost US$837/oz (June Qtr $784/oz)             |
|                                                                     |
|    --  Gross project operating cash flow of US$23.6M (June Qtr      |
|        $28.8M)                                                      |
|                                                                     |
|    --  Cash and liquid assets as at 30 September 2012 were US$182.6M|
|        (Jun Qtr US$151.4M)                                          |
|                                                                     |
|    --  Summary of significant exploration drilling intersections for|
|        the quarter                                                  |
|                                                                     |
|                                                                     |
| _________________________________________________________________   |
||Location      |Hole ID |Intercept width|Grade (g/t Au)|Depth From|  |
||______________|________|_______________|______________|__________|  |
||Blue Quartz   |BQRC070 |28m            |1.51          |152m      |  |
||______________|________|_______________|______________|__________|  |
||              |BQRC072 |10m            |5.13          |17m       |  |
||______________|________|_______________|______________|__________|  |
||              |BQRC073 |24m            |1.45          |2m        |  |
||______________|________|_______________|______________|__________|  |
||              |BQRC089 |28m            |1.30          |21m       |  |
||______________|________|_______________|______________|__________|  |
||Libra East    |LERC059 |111m           |1.08          |221m      |  |
||______________|________|_______________|______________|__________|  |
||              |LERC061 |51m            |1.74          |121m      |  |
||______________|________|_______________|______________|__________|  |
||              |LERC062 |44m            |1.34          |44m       |  |
||______________|________|_______________|______________|__________|  |
||              |LERC063 |37m            |1.12          |60m       |  |
||______________|________|_______________|______________|__________|  |
||              |LERC067 |28m            |1.61          |145m      |  |
||______________|________|_______________|______________|__________|  |
||              |LERC070 |25m            |1.13          |187m      |  |
||______________|________|_______________|______________|__________|  |
||              |LERC072 |73m            |1.31          |100m      |  |
||______________|________|_______________|______________|__________|  |
||Main Vein     |MV026   |23m            |3.02          |143m      |  |
||______________|________|_______________|______________|__________|  |
||              |MV026   |78m            |1.44          |176m      |  |
||______________|________|_______________|______________|__________|  |
||Libra West    |LWRC010 |25m            |1.81          |surface   |  |
||______________|________|_______________|______________|__________|  |
||              |LWRC010 |21m            |2.30          |195m      |  |
||______________|________|_______________|______________|__________|  |
||HMBNW         |HMBNW031|25m            |1.30          |122m      |  |
||______________|________|_______________|______________|__________|  |
||              |HMBNW036|20m            |1.82          |128m      |  |
||______________|________|_______________|______________|__________|  |
||              |HMBNW037|28m            |2.11          |27m       |  |
||______________|________|_______________|______________|__________|  |
||              |HMBNW037|17m            |1.79          |56m       |  |
||______________|________|_______________|______________|__________|  |
||              |HMBNW038|18m            |6.74          |175m      |  |
||______________|________|_______________|______________|__________|  |
||              |HMBNW041|19m            |3.53          |130m      |  |
||______________|________|_______________|______________|__________|  |
||Colorado      |COL042  |35m            |1.39          |93m       |  |
||______________|________|_______________|______________|__________|  |
||Montana       |MONRC003|14m            |1.37          |130m      |  |
||______________|________|_______________|______________|__________|  |
||              |MONRC003|25m            |1.37          |178m      |  |
||______________|________|_______________|______________|__________|  |
||              |MONRC010|32m            |1.54          |44m       |  |
||______________|________|_______________|______________|__________|  |
|_____________________________________________________________________| 
MASBATE GOLD PROJECT UPDATE   
 ______________________________________________________________________________________
|         |Ore Mine |Average|   Ore   |Head |Recovery|   Plant    |  Total   |  Cash   |
|         |   (t)   | Grade | Milled  |Grade|  (%)   |Availability|Production|Operating|
|         |         | Mined |   (t)   |(g/t |        |    (%)     | (oz Au)  |  Costs  |
|         |         | (g/t  |         | Au) |        |            |          |(US $/oz)|
|         |         |  Au)  |         |     |        |            |          |         |
|_________|_________|_______|_________|_____|________|____________|__________|_________|
|September|1,598,297|  1.06 |1,702,574|1.04 |   83.3 |      93.8  |   47,646 |    837  |
|Quarter  |         |       |         |     |        |            |          |         |
|_________|_________|_______|_________|_____|________|____________|__________|_________|
|June     |1,599,837|  1.06 |1,728,751|1.05 |   83.3 |      93.4  |   50,817 |    784  |
|Quarter  |         |       |         |     |        |            |          |         |
|_________|_________|_______|_________|_____|________|____________|__________|_________| 


    Processing

The process plant throughput was 6% above budget at 1,702,574 tonnes at 
1.04g/t (June Qtr 1,728,751 tonnes at 1.05g/t). The process plant continues to 
operate in a steady state and above expectations.

Gold production was 47,646 oz (June Qtr 50,817oz) at a recovery of 83.3% (June 
Qtr 83.3%).

Plant availability remained good at 93.8% (June Qtr 93.4%) with all areas of 
the plant performing well. The SAG mill continued to operate trouble free 
since recommissioning on 25 December with average throughput rates for the 
quarter of 6.8mtpa.

Cash costs rose slightly to $837/oz (June Qtr $784/oz). This is mainly 
attributable to reduced gold production and accounting adjustments.

Cash costs per tonne milled were $23.41 compared to $22.76 in the June quarter 
and were mainly impacted by increased accounting adjustments related to 
deferred mining. The unadjusted cost per tonne mill actually fell to $22.12 
from the March quarter of $22.40.

The gross project operating cash flow before working capital for the quarter 
was US$23.640M (June Qtr US$28.758M) from gross gold proceeds of sale of 
US$58.035M.

Safety

There was one Lost Time Injury in the quarter when a contractor working on a 
mill reline injured his finger. At the end of the quarter the site had 
achieved 83 days without a lost time injury and an LTI Frequency rate of 0.17.

Mining and Geology

Mine production increased 5% to 2,492,527 BCM (June Qtr 2,370,565 BCM) to 
produce 1,598,297 tonnes of ore (June Qtr 1,599,837 tonnes) from Colorado, 
Binstar, HMB East and Main Vein pits. Main Vein and Colorado pits continued to 
be the main production areas producing a mix of oxide and transitional ore for 
the plant.

Optimisation Study

The Lycopodium Optimisation Study has identified a number of options for 
upgrading plant capacity via stepped increases in capital expenditure and in 
light of the announced proposed merger with B2Gold, discussions on the various 
options are being conducted with B2Gold.

Exploration and Near Mine Resource Drilling Summary

Drilling this quarter was split between resource infill and step out work 
within the mining area on both Filminera Resources and Vicar Mining leases; 
drilling along strike into the EP10 exploration lease and initial drilling of 
six holes into a series of geophysical targets at the Baleno gold-copper 
porphyry prospect. Drilling totalled 5,834.9m of reverse circulation, 
12,138.4m of diamond core and 3,448.3m of RC / core tail.

The best results for the quarter were returned from Libra East where infill 
drilling has extended the mineralisation below the planned pit floor. HMBNW 
and Main Vein North Split and Blue Quartz North holes also returned 
encouraging results.

The contract regional mapping and sampling crew completed the mapping program 
within the Vicar Mining Properties near Pajo Hill and demobilised during the 
quarter. Their mapping has indicated an extension to the Grandview structure 
within the Vicar Mining lease, west of the Pajo Hill Prospect.

At the Baleno gold-copper porphyry prospect, drilling was completed during the 
quarter. Further ground work is anticipated including soil geochemical 
sampling program in the near future.  

Drilling Statistics for September Quarter 2012  

 ________________________________________________________
|Locations  |       RC   |RC / Diamond Tail|    Diamond  |
|___________|____________|_________________|_____________|
|           |Holes|Metres|Holes|   Metres  |Holes|Metres |
|___________|_____|______|_____|___________|_____|_______|
|Blue Quartz|     |      |     |           |   4 | 886.3 |
|___________|_____|______|_____|___________|_____|_______|
|Colorado   |   4 |1,024 |     |           |     |       |
|___________|_____|______|_____|___________|_____|_______|
|Libra East |     |      |     |           |   2 |   837 |
|___________|_____|______|_____|___________|_____|_______|
|Montana    |   5 |  413 |     |           |     |       |
|___________|_____|______|_____|___________|_____|_______|
|Main Vein  |     |      |     |           |  13 | 3,863 |
|___________|_____|______|_____|___________|_____|_______|
|Old Lady   |   5 |628.9 |   5 |   1,092.1 |   3 | 705.5 |
|___________|_____|______|_____|___________|_____|_______|
|Young Lady |   1 |  120 |   4 |    830.8  |   1 |   133 |
|___________|_____|______|_____|___________|_____|_______|
|Panique    |  22 |3,649 |   5 |   1,525.4 |     |       |
|___________|_____|______|_____|___________|_____|_______|
|Baleno Cu  |     |      |     |           |   6 |3,136.3|
|___________|_____|______|_____|___________|_____|_______|
|Pajo Hill  |     |      |     |           |  13 |2,577.3|
|___________|_____|______|_____|___________|_____|_______|

Drilling Activities

Drilling at Blue Quartz continued on the untested "North Splay" with 4 diamond 
holes for 886.3m completed. The program was suspended late in the quarter 
when Drill Corp Rig 15 required an engine swap. More encouraging results were 
received during the period from North Splay holes BQRC064 to BQRC093. Better 
results include (true widths) 14m @ 2.70g/t Au, 17m @ 1.51g/t Au, 14m@ 1.45g/t 
Au, 13m @ 1.07g/t Au and 23m @ 1.30g/t Au. More infill holes have been 
planned and drilling will start as soon as a rig is available. Infill 
holes to test for depth extensions of the Blue Quartz main zone have been 
completed and samples processed for assay during the quarter. Pads have been 
prepared for holes planned to test the Blue Quartz NE IP anomaly with drilling 
to commence once rigs become available from other programs.

Main Vein North Split diamond core drilling continued this quarter with 13 
holes completed (3,863m). Drilling was completed on the structurally complex 
western end of the Doris vein where it converges with the Libra East Vein. 
Drilling along the western extent of North Split has encountered wide zones of 
quartz mineralisation that extend to at least 200 metres below the floor of 
the current pit design. The ore zones taper off at depth however maintain a 
very wide thickness (around 45 metres) down to around 170 metres below the pit 
floor.

The main structure which contains the bulk of the mineralisation is 
interpreted to be a continuation of the Doris Vein. A lesser substructure to 
the south of Doris has been identified with locally some very high grades 
within it. There are also continuations of other structures to the north of 
the Doris vein, however these are thinner. Better intersections include (true 
widths); 17m @ 1.20g/t Au, 15m @ 3 .84g/t Au, 23m@ 1.01g/t Au, 14m@ 3.02g/t 
Au, 47m @ 1.44g/t Au, 15m @ 1.21g/t Au and 16m @ 1.10g/t Au.

Drilling at Libra East was completed during the quarter with LERC073 
terminating at 466m. Results received to date confirm the presence of a 
consistent, wide, high grade vein system extending over 500m strike. All of 
the holes reported in the month are resource conversion holes and lie within 
the current pit design. They confirm the existing interpretation of a wide 
gold-bearing mineralised zone. LERC066 lies below the current pit design 
within the newly defined extension to the west along the main Libra East 
trend. After the new block model is delivered, any significant inferred 
resource remaining will be targeted for further drilling if necessary.

All results from the 11 holes drilled at Libra West have been received. 
Results indicate good grades but moderately thin intersections. All holes in 
this program are below the floor of the current pit design and may form part 
of a new mineable zone after the new block model update becomes available. It 
is likely that additional shallower level holes will be required as a follow 
up to this program. Better results from this zone include 4m @ 4.97g/t Au, 
7m @ 2.90g/t Au, 6m @ 2.69g/t Au, 15m@ 1.81g/t Au and 9m @ 2.30g/t Au.

All HMB North West Holes returned in the quarter intersected the main HMB 
North West structure below the floor of the current pit design. Holes in this 
program show the width and grade varies significantly along the strike of the 
structure at depth. A further program of drill holes has been planned at HMB 
North West to convert likely inferred material. This program comprises 19 
holes for 3,350 metres, planned for the next quarter.

At Colorado the current drilling program is designed to infill previous wide 
spaced drilling, particularly beneath the planned pit floor. This quarter 4 RC 
holes for 1,024m were completed.

Drilling at Panique continued with RC drilling and RC/Diamond tailed holes 
with 22 RC holes for 3,649m and 5 RCD holes for 1,525.4m drilled during the 
quarter. Results received show mostly thin widths for the Dabu structure. 
Further drilling is planned for the southern end of Dabu Structure.

Drilling continued at Old Lady prospect this quarter with 13 holes (2,426.5m) 
completed. A further 2 holes will be drilled to complete this current 
program targeting the depth extensions of the mineralisation. Results 
received for the Quarter indicate the width of the mineralised zone decreases 
at depth with a corresponding decrease in grade. Best intersection received 
for the quarter was from ODRC056, 10m @ 1.14g/t Au from 15m. Additional 
drilling will depend on pending results.

Drilling resumed during the quarter at Montana North with one hole, MONRC014, 
completed at 92m and 3 holes MON013, 015, 016 suspended short of target depth 
due to high water flows. Assays were received during the month for holes 
MONRC001 - 009 (Note; MONRC002 abandoned before reaching target mineralized 
zone). Intersections in holes MONRC001 - 008 have delineated additional 
mineralization below the old Montana Pit. Along strike, 100m to the NW of the 
old Montana Pit, MONRC009 has confirmed the good width and grade intersection 
in MONRC010 extends down dip to ~ 80m vertical. Better intersections 
include: 20m @ 1.54g/t Au, 14m @ 1.37g/t Au, 17m @ 1.37g/t Au, and 7m @ 
1.17g/t Au. An additional 6 drill pads have been prepared following the arc 
like westerly trend of the structure, with drilling in progress.

Drilling commenced at Young Lady Prospect during the quarter. A total of 6 
holes were completed for 1,083.80m. Up to 20m of mineralized quartz was 
intersected in holes WYRC001, 005 and 006. The structure appears to thin out 
towards the east as shown in WYRC003, WYRC004, however further drilling is 
required to fully understand this zone. No results are available yet.

Drilling at the Vicar Mining Property at Pajo Hill started during the 
quarter. A total of 13 diamond drill holes have been drilled during the 
Quarter for a total of 2577.30m. Wide intersections of quartz veining and 
stock work zones have been reported from most of the holes. Drilling is 
ongoing with no results received as yet.

The Baleno prospect is located 4km to the SE of the mining area and is centred 
on a small historic open pit containing copper mineralisation hosted in 
diorite. Work completed during the quarter included 6 holes totalling 3,136.3m 
of DD Core. Assay results were received for the first 3 holes. A work 
program will be organised for geochemical sampling and detailed mapping of the 
area when all assays are received and data compiled and interpreted.

Regional Mapping & Sampling

The regional mapping team completed some follow up work over the Pajo Hill 
area during the quarter, completing their contract. The work covered the area 
South West, West and North West of the Pajo Hill area. A wider section of 
mineralized quartz veining was mapped North West of the Grand View structure 
which is about sub-parallel to the Pajo Structure. Rock chip samples have 
returned grades of up to 10g/t Au.

In addition to the anomalies reported last quarter, results from -80# stream 
sampling have identified an anomaly at Bart- Ag East; A strongly anomalous 
drainage with multiple anomalous streams draining an area of 1.5 km2 adjacent 
to the eastern boundary of the exploration lease due east of the Bart - Ag 
prospect.

Table of Anomalous Intersections

Libra East

 _________________________________________________________________________________
|       |       |        |      |   |   |     |    |   |Down |     |     |        |
|       |       |        |      |   |   |     |    |   |Hole |True |     |        |
|       |       |        |      |   |   |Total|    |   |Width|Width|Grade|        |
|Hole-ID|Easting|Northing|   RL |Azm|Dip|Depth|From|To | (m) | (m) |(g/t)|Comments|
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC054|  30075|   25432|  1141|204|-50|242.8|  66|114|   48|   30| 0.85|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 176|243| 66.8|   38| 0.79|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC056|  29747|   25344|  1090| 25|-68|  337|   0|  5|    5|    4| 1.03|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC058|  29893| 25407.6|1124.1| 17|-78|321.5| 278|316|   37|   13| 0.73|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC059|30093.2| 25530.4|1160.7|200|-46|659.5| 100|106|    6|    5| 1.92|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 109|113|    4|    3| 1.45|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 221|332|  111|   74| 0.86|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 339|400|   61|   38| 0.93|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 403|418|   15|   11| 0.99|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 444|460|   16|   12| 0.49|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 468|498|   30|   22| 0.65|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 597|605|    8|    6| 1.03|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 630|644|   14|    9| 0.64|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC061|29928.9| 25395.7|1125.6| 22|-71|294.8| 121|172|   51|   29| 1.74|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC062|30073.4|   25433|1141.2| 22|-81|  162|  71| 88|   17|    4| 0.68|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     |  96|140|   44|   10| 1.34|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC063|29983.8| 25406.9|1126.3| 32|-69|220.1|  37| 42|    5|    2| 1.01|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     |  60| 97|   37|   17| 1.12|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 173|182|    9|    7| 1.22|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC064|  30148|   25484|  1137|185|-62|  308|  49| 72|   23|   11| 1.05|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 146|159|   13|    6| 1.39|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC065|  29689|   25416|  1098|358|-65|212.6| 144|148|    4|    2| 0.61|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 184|197|   13|    8| 0.99|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC066|  29727| 25414.4|1098.4| 27|-66|  226| 158|162|    4|    3| 2.36|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 168|185|   17|   11| 1.27|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC067|  30079|   25486|  1154|224|-52|303.2|  23| 33|   10|    6| 1.43|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 145|173|   28|   12| 1.61|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC068|  30219|   25471|  1113|202|-56|  114|   0| 10|   10|    5| 0.54|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC069|  30219|   25471|  1113|202|-53|   86|  17| 22|    5|    3| 0.55|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC070|  30218|   25467|  1113|202|-53|270.1|  25| 33|    8|    5| 0.58|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 187|212|   25|   17| 1.13|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC071|  30105|   25563|  1162|203|-48|  371| 139|151|   12|    9| 0.63|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 182|193|   11|    7| 1.32|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 236|253|   17|   10| 0.80|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 333|352|   19|   16| 1.09|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC072|  30080|   25486|  1155|205|-46|  204| 100|173|   73|   44| 1.31|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LERC073|  30092|   25532|  1161|200|-60|  466| 118|130|   12|    7| 0.76|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|

HMBNW

 __________________________________________________________________________________
|        |       |        |      |   |   |     |    |   |Down |     |     |        |
|        |       |        |      |   |   |     |    |   |Hole |True |     |        |
|        |       |        |      |   |   |Total|    |   |Width|Width|Grade|        |
|        |       |        |      |   |   |     |    |   |     |     |     |        |
|Hole-ID |Easting|Northing|   RL |Azm|Dip|Depth|From|To | (m) | (m) |(g/t)|Comments|
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|HMBNW031|  29815|   25825|  1091| 35|-54|  225| 122|147|   25|   12| 1.30|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|HMBNW032|30126.9|   25470|1140.1| 53|-50|  140|   6| 13|    7|    5| 1.17|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|HMBNW033|30150.8| 25561.5|1134.8|234|-58|  160|  14| 46|   32|   15| 0.63|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|HMBNW034|30124.7| 25460.9|  1140| 54|-63|  162| 102|121|   19|    9| 0.99|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|HMBNW035|30148.3| 25479.2|  1137| 54|-62|   60|  49| 59|   10|    7| 0.61|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|HMBNW036|  29874|   25764|  1121|209|-54|  199|   1| 10|    9|    7| 1.52|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|        |       |        |      |   |   |     | 128|148|   20|   12| 1.82|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|HMBNW037|  29906|   25786|  1119| 28|-57|  127|  27| 55|   28|   16| 2.11|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|        |       |        |      |   |   |     |  56| 73|   17|   11| 1.79|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|HMBNW038|  29902|   25721|  1123| 30|-60|  226| 175|193|   18|    9| 6.74|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|HMBNW040|  29953|   25756|  1132| 30|-58|   94|   1|  6|    5|    4| 1.49|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|HMBNW041|29798.8| 25829.2|1090.6| 26|-50|196.5| 130|149|   19|   11| 3.53|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|HMBNW042|30179.1| 25570.5|1124.3|242|-54|  120|  23| 27|    4|    2| 0.69|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|        |       |        |      |   |   |     |  30| 35|    5|    3| 0.76|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|        |       |        |      |   |   |     |  41| 48|    7|    4| 0.52|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|        |       |        |      |   |   |     |  77| 79|    2|    1| 1.21|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|        |       |        |      |   |   |     |  82|100|   18|   10| 0.94|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|HMBNW039|29759.4| 25836.9|1081.7| 28|-43|290.3|   6| 11|    5|    4| 0.44|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|        |       |        |      |   |   |     | 147|156|    9|    6| 0.83|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|        |       |        |      |   |   |     | 248|252|    4|    3| 0.55|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|HMBNW043|  30222|   25468|  1113|238|-70|  130|   2|  9|    7|    4| 1.28|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|HMBNW044|  30221|   25467|  1113|237|-50|  100|   2|  9|    7|    4| 0.81|        |
|________|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|

Libra West

 _________________________________________________________________________________
|       |       |        |      |   |   |     |    |   |Down |     |     |        |
|       |       |        |      |   |   |     |    |   |Hole |True |     |        |
|       |       |        |      |   |   |Total|    |   |Width|Width|Grade|        |
|       |       |        |      |   |   |     |    |   |     |     |     |        |
|Hole-ID|Easting|Northing|   RL |Azm|Dip|Depth|From|To | (m) | (m) |(g/t)|Comments|
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LWRC001|  29660|   25793|  1062|222|-58|  196|  16| 20|    4|    2| 3.54|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 166|176|   10|    6| 0.79|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LWRC002|  29661|   25753|  1062|201|-67|  194| 157|166|    9|    5| 1.46|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LWRC003|  29661|   25753|  1062|201|-59|  166| 132|139|    7|    4| 4.97|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LWRC004|29662.4| 25718.9|1060.9|186|-47|  110|  65| 76|   11|    7| 2.90|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     |  75| 86|    9|    6| 2.69|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LWRC005|29662.5| 25720.2|1060.7|186|-63|  143|  62| 66|    4|    2| 4.76|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 106|113|    7|    3| 3.22|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 120|125|    5|    2| 2.47|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LWRC007|29657.5| 25792.2|1062.3|247|-52|  210| 165|169|    4|    2| 0.92|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LWRC008|29662.5|   25720|1060.9|215|-60|  115|  76| 86|   10|    4| 3.13|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LWRC009|29653.7| 25538.8|1090.7| 15|-47|  216|   7| 10|    3|    2| 1.38|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 181|186|    5|    3| 2.44|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 188|192|    3|    2| 0.81|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LWRC010|29654.7| 25537.8|  1091| 32|-52|  216|   0| 25|   25|   15| 1.18|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 114|121|    7|    4| 4.51|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 133|136|    3|    2| 8.16|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 195|216|   21|    9| 2.30|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|LWRC011|  29655|   25537|  1091| 57|-53|  286|   0| 23|   23|   13| 0.92|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 238|244|    6|    2| 3.78|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|

Main Vein North Split

 __________________________________________________________________________________
|       |       |        |      |   |   |     |    |    |Down |     |     |        |
|       |       |        |      |   |   |     |    |    |Hole |True |     |        |
|       |       |        |      |   |   |Total|    |    |Width|Width|Grade|        |
|       |       |        |      |   |   |     |    |    |     |     |     |        |
|Hole-ID|Easting|Northing|   RL |Azm|Dip|Depth|From| To | (m) | (m) |(g/t)|Comments|
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|MV021  |29736.7| 25154.5|1079.8| 20|-28|245.5|   6|  46|   20|   10| 0.80|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 102| 110|    8|    7| 0.46|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 117| 168|   51|   43| 0.70|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 186| 195|    9|    7| 0.55|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 210| 230|   20|   17| 1.20|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|MV023  |29735.7| 25152.1|1081.4| 20|-52|  333|   4|  26|   22|   11| 0.84|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 111| 132|   21|   15| 3.84|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 147| 154|    7|    5| 7.87|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 157| 168|   11|    8| 1.41|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 183| 200|   17|   14| 0.59|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 220| 240|   20|   15| 0.57|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 243| 259|   16|   12| 0.73|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 272| 279|    7|    5| 3.45|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|MV024  |  29715|   25134|  1078|338|-53|  308|19.6|  38| 18.4|   15| 0.74|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 168| 228|   60|   44| 0.94|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|MV026  |29715.3| 25133.5|  1079|338|-60|343.8|   0|   5|    5|    4| 1.33|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     |  10|  36|   26|   23| 1.01|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 132| 137|    5|    3| 3.11|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 143| 166|   23|   14| 3.02|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 176| 254|   78|   47| 1.44|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 274| 282|    8|    6| 0.72|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|MV028  |  29735|   25154|  1080|  1|-70|353.5| 9.4|  25| 15.6|   15| 1.21|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 228| 242| 13.6|    8| 0.58|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 261| 284| 23.5|   14| 0.69|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|MV030  |  29735|   25154|  1079|  1|-62|  349|   4|22.5| 18.5|   16| 1.10|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 187| 255|   68|   41| 0.92|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|MV029  |  29715|   25133|  1079|338|-66|410.2|  13|24.8| 11.8|   10| 0.78|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 236| 265|   29|   18| 0.85|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|
|       |       |        |      |   |   |     | 272| 290|   18|   11| 0.59|        |
|_______|_______|________|______|___|___|_____|____|____|_____|_____|_____|________|

Colorado

 _______________________________________________________________________________
|       |       |        |    |   |   |     |    |   |Down |     |     |        |
|       |       |        |    |   |   |     |    |   |Hole |True |     |        |
|       |       |        |    |   |   |Total|    |   |Width|Width|Grade|        |
|       |       |        |    |   |   |     |    |   |     |     |     |        |
|Hole-ID|Easting|Northing| RL |Azm|Dip|Depth|From|To | (m) | (m) |(g/t)|Comments|
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|COL036 |  30204|   26967|1263|243|-64|  251|  89| 96|    7|    3| 1.65|        |
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |    |   |   |     | 108|120|   12|    5| 0.78|        |
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|COL041 |  30093|   26985|1270| 62|-51|  180|   0|  6|    6|    5| 1.13|        |
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |    |   |   |     |  67|100|   33|   25| 0.78|        |
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|COL042 |  30071|   27023|1270| 62|-62|  260|  93|128|   35|   28| 1.39|        |
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|COL043 |  30143|   27163|1260|230|-52|  287|  45| 65|   20|   18| 0.64|        |
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |    |   |   |     | 112|141|   29|   15| 0.59|        |
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|

Panique - Dabu

 _______________________________________________________________________________
|       |       |        |    |   |   |     |    |   |Down |     |     |        |
|       |       |        |    |   |   |     |    |   |Hole |True |     |        |
|       |       |        |    |   |   |Total|    |   |Width|Width|Grade|        |
|       |       |        |    |   |   |     |    |   |     |     |     |        |
|Hole-ID|Easting|Northing| RL |Azm|Dip|Depth|From|To | (m) | (m) |(g/t)|Comments|
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|PQRC103|30302.5| 24576.2|1145|233|-68|  200| 138|160|   22|   10| 0.68|        |
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |    |   |   |     | 179|183|    4|    2| 0.44|        |
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|PQRC104|30303.1| 24576.4|1145|260|-67|  186| 158|164|    6|    4| 2.06|        |
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|PQRC109|  30172|   24763|1145|229|-45|  144|   1| 48|   47|   34| 0.86|   Atlas|
|       |       |        |    |   |   |     |    |   |     |     |     |  Mining|
|       |       |        |    |   |   |     |    |   |     |     |     |    Dump|
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|PQRC110|  30155|   24784|1145|249|-45|  196|  41| 53|   12|    8| 0.66|   Atlas|
|       |       |        |    |   |   |     |    |   |     |     |     |    Dump|
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|PQRC111|  30156|   24785|1145|249|-56|  210|  29| 34|    5|    3| 1.02|   Atlas|
|       |       |        |    |   |   |     |    |   |     |     |     |    Dump|
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |    |   |   |     | 164|175|   11|    6| 0.84|    Dabu|
|       |       |        |    |   |   |     |    |   |     |     |     |    Vein|
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|PQRC112|  30172|   24802|1145|245|-56|  244|   7| 11|    4|    2| 0.50|   Atlas|
|       |       |        |    |   |   |     |    |   |     |     |     |    Dump|
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|PQRC114|  30173|   24764|1145|229|-57|  184|   0| 29|   29|   20| 0.58|   Atlas|
|       |       |        |    |   |   |     |    |   |     |     |     |    Dump|
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |    |   |   |     | 152|159|    7|    4| 1.63|    Dabu|
|       |       |        |    |   |   |     |    |   |     |     |     |    Vein|
|_______|_______|________|____|___|___|_____|____|___|_____|_____|_____|________|

Blue Quartz

 __________________________________________________________________________________
|       |       |        |      |   |   |      |    |   |Down |     |     |        |
|       |       |        |      |   |   |      |    |   |Hole |True |     |        |
|       |       |        |      |   |   |      |    |   |Width|Width|Grade|        |
|       |       |        |      |   |   |Total |    |   |     |     |     |        |
|Hole-ID|Easting|Northing|   RL |Azm|Dip|Depth |From|To | (m) | (m) |(g/t)|Comments|
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC060|30897.7| 24030.2|  1108| 45|-58|151.75|  54| 80|   26|   14| 2.70|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      | 108|123|   15|    8| 0.53|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC064|30934.6| 23992.6|  1094| 57|-58|   102|  80| 83|    3|    2| 1.26|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC065|30912.5| 23984.3|1092.5| 57|-57|   147|  20| 30|   10|    6| 1.00|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      | 110|117|    7|    4| 4.45|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC066|30945.2| 24010.9|1094.3| 64|-52|    95|  23| 28|    5|    3| 1.53|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  32| 39|    7|    4| 3.29|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  70| 76|    6|    4| 2.27|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC067|  30950|   23980|  1086| 59|-58|    90|  72| 83|   11|    6| 1.24|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC068|30963.9| 23998.4|1085.2| 59|-55|    78|   2| 12|   10|    6| 1.85|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  29| 32|    3|    2| 1.71|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  44| 48|    4|    3| 1.77|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  67| 72|    5|    3| 3.76|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC069|30895.1| 23991.6|1098.8| 47|-57|   154| 141|144|    3|    2| 0.84|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC070|30898.1| 23969.9|  1085| 57|-56|   198|   0| 13|   13|    8| 0.62|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      | 152|180|   28|   17| 1.51|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC071|30905.4| 23944.6|1077.9| 59|-56| 193.5|   4| 12|    8|    5| 0.62|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  24| 61|   37|   28| 0.95|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  65| 71|    6|    4| 0.66|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  74| 84|   10|    6| 0.91|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      | 113|122|    9|    5| 0.81|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC072|30876.4| 24055.9|1119.4| 48|-57|   149|  17| 27|   10|    6| 5.13|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  38| 48|   10|    6| 0.57|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  87|101|   14|    8| 0.60|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC073|30907.1| 24087.8|1122.4| 48|-58|   126|   2| 26|   24|   14| 1.45|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  37| 40|    3|    2| 3.08|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  47| 53|    6|    4| 1.03|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC074|30891.8| 24075.2|1119.9| 48|-58|   126|  36| 41|    5|    3| 0.51|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  48| 51|    3|    2| 1.57|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  57| 65|    8|    5| 4.49|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  68| 71|    3|    2| 1.37|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  75| 78|    3|    2| 8.17|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC075|30848.7| 24073.8|1128.4| 39|-57|   162|  18| 29|   11|    6| 0.58|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  44| 55|   11|    6| 0.73|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC076|  30860| 24089.5|1133.3| 39|-58|   129|  69| 81|   12|    7| 1.20|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC077|30847.9| 24121.5|1140.4| 37|-58|    96|   1|  5|    4|    3| 1.29|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |   9| 17|    8|    5| 7.67|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  29| 43|   14|    8| 1.19|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC078|30830.1|   24106|1135.2| 37|-50|   109|  70| 78|    8|    5| 0.90|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC079|30831.3| 24105.2|1132.1| 37|-57|   135|  77| 90|   13|    8| 0.58|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC080|30869.3| 24102.8|1135.2| 39|-50|   116|  25| 46|   21|   13| 1.07|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC081|30971.2| 23968.1|  1078| 63|-60|   117|  55| 57|    2|    1| 5.44|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      |  63| 78|   15|    8| 1.46|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC082|  30822|   23982|  1094| 17|-56|    51|  34| 40|    6|    4| 0.46|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC083|31043.3| 23846.5|1060.3| 15|-57|   171| 149|155|    6|    3| 1.38|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC084|31109.4| 23782.7|1047.5| 16|-57|   224|  90| 95|    5|    3| 0.67|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      | 162|179|   17|   10| 0.47|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC085|  31148|   23804|  1048| 17|-57|   158| 122|126|    4|    2| 1.32|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC086|  31184|   23803|  1051| 16|-57|   150| 109|115|    6|    4| 0.86|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC087|  31201|   23828|  1054| 16|-57|   114|  25| 30|    5|    3| 0.93|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC088|  31025|   23784|  1047| 14|-59|   264| 192|199|    7|    2| 1.62|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC089|  30995|   23918|  1069| 16|-50|    78|  21| 49|   28|   23| 1.30|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC090|  30798|   23902|  1066| 19|-57|   189| 134|144|   10|    7| 1.03|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |      | 167|180|   13|    8| 2.00|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC091|  30929|   23899|  1064| 37|-60|   120|  70| 86|   16|    9| 1.77|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|
|BQRC093|  30929|   23898|  1064| 51|-71|   144|  22| 27|    5|    3| 0.56|        |
|_______|_______|________|______|___|___|______|____|___|_____|_____|_____|________|

Old Lady

 _________________________________________________________________________________
|       |       |        |      |   |   |     |    |   |Down |     |     |        |
|       |       |        |      |   |   |     |    |   |Hole |True |     |        |
|       |       |        |      |   |   |Total|    |   |Width|Width|Grade|        |
|       |       |        |      |   |   |     |    |   |     |     |     |        |
|Hole-ID|Easting|Northing|   RL |Azm|Dip|Depth|From|To | (m) | (m) |(g/t)|Comments|
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|ODRC045|31901.5| 23586.8|  1088|202|-60|  188| 165|168|    3|    2| 0.59|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|ODRC047|31901.5| 23586.8|  1088|202|-60|  188| 148|155|    7|    5| 0.70|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 183|190|    7|    5| 0.53|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 195|201|    6|    4| 0.76|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|ODRC048|  31829|   23648|  1067|205|-60|  193| 149|158|    9|    6| 1.06|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|ODRC049|31848.9|   23566|1082.7|217|-70|  155|   0|  3|    3|    2| 1.53|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 126|130|    4|    2| 1.15|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|ODRC053|  32077| 23569.8|1076.1|204|-60|  266|   2|  6|    4|    2| 3.08|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|ODRC050|  31849|   23547|  1081|202|-60|  186| 111|118|    7|    5| 0.43|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|ODRC052|  31791|   23584|  1060|205|-60|  126|  89|100|   11|    7| 0.63|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|ODRC053|  32077| 23569.8|1076.1|204|-60|  266|   2|  6|    4|    2| 3.08|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     | 157|177|   20|   18| 0.51|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|ODRC056|  32173|   23404|  1103|180|-60|   81|  15| 30|   15|   10| 1.14|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
|       |       |        |      |   |   |     |  48| 61|   13|    9| 0.65|        |
|_______|_______|________|______|___|___|_____|____|___|_____|_____|_____|________|
       --  No top cut
    --  0.40 lower cut off
    --  Maximum 2.0m internal waste
    --  Minimum diluted grade 0.40
    --  True widths calculated and presented
    CORPORATE 

As at 30 September 2012, cash and liquid assets were US$182.6M (June quarter: 
$151.4M). Cash and bullion on hand represented US$122.6M of that balance - 
including the cash reserves of Filminera Resources Corporation while cash and 
bullion at 30 June was US$110.1M. This was after having paid the interest and 
principal repayment on the BNP arranged project finance facility for the 
September quarter of US$4.5M. The outstanding project finance facility has 
now reduced to US$22.9M at 30 September 2012 (30 June 2012: $27.2M). During 
the quarter, 50,000 outstanding options due to expire on 30 September 2012 and 
40,000 options due to expire on 17 November 2013 were exercised for total 
gross proceeds of A$91,000,150,000 unexercised options expired and 250,000 
unexercised out of the money options issued to employees now resigned were 
cancelled, per the terms of the Employee Option Scheme.

At 30 June 2012, the Company had 5,831,250 options on issue and the total 
issued capital was 337,865,726 fully paid ordinary shares.

On September 19, 2012, the Company announced it had entered into a definitive 
Merger Implementation Agreement ("Merger Agreement") to merge B2Gold Corp. 
("B2Gold") and the Company at an agreed exchange ratio of 0.74 B2Gold common 
shares for each CGA share held, which represents a purchase price of 
approximately C$3.18 per CGA share (based on the closing share prices on 17 
September 2012, being just prior to announcement). The proposed merger has 
received strong endorsement from both shareholders and the wider investment 
community. It will be implemented by way of a Scheme of Arrangement under the 
Australian Corporations Act 2001 ("Scheme"). Upon completion of the Scheme, 
existing B2Gold shareholders and CGA shareholders will own approximately 62% 
and 38%, respectively, of the issued common shares of the combined company. 
There are a number of conditions precedent such as shareholder approval by 
both CGA and B2Gold shareholders and it is subject to traditional terms and 
conditions for transactions of this nature.

Mark Savage, who has been a director and Chairman of the Board since April 
2000, has indicated his intention to step down from the Board, effective from 
the date of the Annual General Meeting of shareholders - 28 November 2012. 
Mark has overseen the successful development of the Company, through to the 
recent announcement of the proposed merger with B2 Gold, which at the date of 
the announcement valued the Company at in excess of $1.1bn. The entire Board 
of CGA would like to express their sincere gratitude to Mark Savage for the 
outstanding contribution he has made to CGA.

ABOUT CGA MINING LIMITED

CGA is listed on the main board of the Toronto Stock Exchange and ASX. The 
Masbate Gold Project in the Philippines was successfully constructed with 
first gold poured mid-2009. The project has a total measured and indicated 
resource base of 5.13M ounces of gold, total inferred resource base of 2.83M 
ounces of gold and a proven and probable reserve of 3.097M ounces of gold.

The 4Mtpa designed plant was constructed by Leighton Contractors Asia Limited 
("Leighton") without one lost time injury. The mining contract for the Masbate 
Gold Project has been awarded to Leighton, the largest mining contractor in 
the world. CGA has completed a US$12M investment program designed to upsize 
throughput to 6.5Mtpa at Masbate. The project is forecast to produce at a rate 
of over 200,000 ounces per annum (Year ended 30 June 2011: 190,033 ounces).

CGA has an aggressive exploration strategy. It is planned to undertake 
100,000m of drilling as part of US$20M expenditure over the next twelve months.

CGA has a disciplined acquisition program focused on acquiring new gold 
projects with a substantial initial resource with the capacity to grow 
materially and where the development and operational experience of CGA can be 
applied to enhance shareholder value.

NATIONAL INSTRUMENT 43-101 AND JORC COMPLIANCE

Mr Mark Turner, BE Min(Hons), M.Aus.I.M.M.CP Man, CGA's Chief Operating 
Officer, is acting as the Qualified Person in compliance with NI 43-101 and 
JORC reporting requirements with respect to this announcement. He has prepared 
and or supervised the preparation of the scientific or technical information 
in this announcement and confirms compliance with NI43-101 and JORC 
requirements.

The information in this news release that relates to the 2011 mineral resource 
estimate is based on information compiled by Mr. Andrew Vigar, who is a Fellow 
of the Australasian Institute of Mining and Metallurgy. Mr. Vigar is a full 
time employee of Mining Associates Limited. Verification of the data included 
site visit, database validation of historical drill results and review of 
sampling and assaying protocols. Mr. Vigar has sufficient experience which is 
relevant to the style of mineralisation and type of deposit under 
consideration to qualify as a Competent Person as defined the 2004 Edition of 
the 'Australasian Code for Reporting of Exploration Results, Mineral Resources 
and Ore Reserves' ("JORC Code") and as a Qualified Person NI 43-101. Mr. Vigar 
consents to the inclusion in this report of the matters based on his 
information in the form and context in which it appears.

The information in this news release that relates to the 2011 mineral reserve 
estimate is based on information compiled by Mr. Stephen Jones, who is a 
Fellow of the Australasian Institute of Mining and Metallurgy. Mr. Jones is 
an employee of Golder Associates Pty Ltd. Verification of the data included 
site visit, validation of operating procedures and equipment and the ability 
of the mine site to mine the reserves. Mr. Jones has sufficient experience 
which is relevant to the style of mineralisation and type of deposit under 
consideration to qualify as a Competent Person as defined by the JORC Code and 
as a Qualified Person under NI 43-101. Mr. Jones consents to the inclusion in 
this report of the matters based on his information in the form and context in 
which it appears.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

This announcement includes certain "forward-looking statements" within the 
meaning of Canadian securities legislation. All statements, other than 
statements of historical fact, included herein including, without limitation, 
statements regarding milestones related to the Masbate Gold Project, 
production estimates and CGA's future operating or financial performance, are 
forward-looking statements.. Forward-looking statements involve various risks 
and uncertainties and are based on certain factors and assumptions. There can 
be no assurance that such statements will prove to be accurate, and actual 
results and future events could differ materially from those anticipated in 
such statements. Important factors that could cause actual results to differ 
materially from CGA's expectations include uncertainties related to 
fluctuations in gold and other commodity prices and currency exchange rates; 
uncertainties relating to interpretation of drill results and the geology, 
continuity and grade of mineral deposits; uncertainty of estimates of capital 
and operating costs, recovery rates, production estimates and estimated 
economic return; the need for cooperation of government agencies in the 
development of CGA's mineral projects; the need to obtain additional financing 
to develop CGA's mineral projects; the possibility of delay in development 
programs or in construction projects and uncertainty of meeting anticipated 
program milestones for CGA's mineral projects; and other risks and 
uncertainties disclosed under the heading "Risk Factors" in CGA's Annual 
Information Form for the year ended 30 June 2012 filed with the Canadian 
securities regulatory authorities on the SEDAR website at sedar.com.





ENQUIRIES

Australian Contact President & CEO - Michael Carrick Tel:+61 8 
9263 4000 Fax:+61 8 9263 4020 Email:mcarrick@cgamining.com  US 
Contact Independent Chairman - Mark Savage Tel:+1 505 344 2822 Fax:+1 
505 344 2922 Email:marksavage@comcast.net  

PDF available at:  
http://stream1.newswire.ca/media/2012/10/30/20121030_C3158_DOC_EN_19841.pdf

SOURCE: CGA Mining Limited

To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/October2012/30/c3158.html

CO: CGA Mining Limited
NI: MNG ERN 

-0- Oct/30/2012 13:13 GMT