Tri Origin is evaluating the potential to retreat in excess of 10 million tonnes of tailings that were deposited in three dams at Woodlawn,

With the aim of demonstrating the feasibility of the tailings retreatment operation, the stand alone Woodlawn Retreatment Project feasibility study was scheduled for completion in early April 2008. The first draft of the feasibility study based on the published Resource of 8.6 million tonnes of tailings from the South and West Tailings Dams has been completed as scheduled by Tri Origin’s consultants.

Before taking a development decision, the Company will incorporate into the study:

 

·          An incremental Resource of 3.1 Mt of tailings (i.e. an increase of 36%) planned for recovery from the North, South and West Tailings Dams. Metallurgical test work is in process to confirm the expectation that the metallurgy of the material contained in the North Tailings Dam is consistent with tailings from the South and West Tailings Dams.

 

·          Results from a technical peer review process that will be undertaken to ensure optimum outcomes in terms of engineering, procurement and contracting strategy.

 

·          Results of further discussions with potential off-takers of zinc, copper, and lead concentrates to firm up the potential marketing arrangements discussed to date.

·          Results of review of alternative funding strategies and the selection of a preferred funding strategy in the near term.

Although it is not intended to be included in the current feasibility study, potential has been identified for the production of an additional product stream in the form of a high grade pyrite concentrate. The majority of the approximately 4 Mt of the iron and sulphur contained in the Woodlawn Retreatment Project WRP Resource occurs as pyrite. The potential opportunity to produce pyrite concentrates is being considered outside of the current WRP study and will not impact on the timing of the WRP development decision.

A development decision on the stand-alone Woodlawn Retreatment Project is expected to be made during the second quarter of 2008.

Upgraded Woodlawn Retreatment Project Mineral Resources

Following receipt of assays from drilling completed in December 2007, Mineral Resource estimates have now been finalised and or revised for the three Tailings Dams from which tailings will be recovered and processed as part of the Woodlawn Retreatment Project. 115%;font-family:Arial">  Based on an independent assessment performed by GeoRes the combined tonnage of Measured, Indicated and Inferred Resource contained in the North, South and West Tailings Dams has been increased by 36%, and is made up as follows:

Resource Category		Tonnes (million)	Cu (%)	Pb (%)	Zn (%)	Au (g/t)	Ag (g/t)
North Tailings Dam
	Inferred	0.9	0.3	1.3	2.0	0.25	37
	Indicated	1.4	0.5	1.4	2.7	0.29	40
	Measured	0.8	0.4	1.4	2.4	0.29	35
	Sub-Total	3.1	0.4	1.4	2.4	0.28	38
South Tailings Dam
	Inferred	0.9	0.5	1.2	2.3	0.23	24
	Indicated	1.2	0.5	1.2	2.4	0.22	23
	Measured	2.4	0.5	1.2	2.6	0.22	25
	Sub-Total	4.5	0.5	1.2	2.5	0.22	24
West Tailings Dam
	Inferred	0.5	0.6	1.5	1.8	0.38	34
	Indicated	1.5	0.6	1.5	1.9	0.39	37
	Measured	2.1	0.6	1.5	2.0	0.39	36
	Sub-Total	4.1	0.6	1.5	2.0	0.39	36
Total WRP Resources
	Inferred	2.3	0.4	1.3	2.1	0.27	31
	Indicated	4.1	0.5	1.4	2.3	0.31	34
	Measured	5.3	0.5	1.3	2.3	0.30	31
Total		11.7	0.5	1.4	2.3	0.30	32

It should be noted that a proportion of the tailings contained in the South and North Tailings Dams is currently located under acidic water precluding drill rig access to these areas which makes accurate volumetric calculations challenging, hence the significant proportion of the Resource which has been classified as Inferred. Once full access to the tailings has been obtained and drilling completed, it is planned that the Inferred Resource estimates will be upgraded to Indicated and or Measure Resource status. It is expected that in excess of 10.5 million tonnes of tailings may be recovered and processed.