Shaw River Resources (SRR)

Shares / Stock Code

SRR

Stock Exchange / Sharemarket

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Shaw River Resources (SRR) is exploring the Pilbara and Ashburton regions in WA. Tenements cover over 6,000sqkm in a highly prospective region with a legacy of exploration and discoveries. SRR holds tenements along strike from known deposits. It has four main projects: Farrel Well and Hedland (Au - base metals), Mt Minnie (Cu-Au-U) and Abydos (Au-Ni-Sn-Ta-Cu-Pb-Zn). Acquisition of 14 new tenements from Atlas Iron has increased its footprint in the Abydos and Hedland project areas. SRR has many quality targets. The company was listed on Australian Stock Market on 22 December, 2006.

SRR has increased its footprint in the Pilbara by acquiring 14 new tenements from Atlas Iron. These acquisitions extend SRR’s ground in the Abydos and Hedland project areas and give SRR an exposure the NE and SW ends of the Tabba Tabba Shear. Over 30,000m of drilling is planned for Hedland in 2008. Ten new targets at Farrel Well are scheduled for follow-up work and drilling. SRR has a new JV with Pelican Resources to explore the Donald Well Gold and Base Metal in the Pilbara.

The company has put together a unique collection of tenements in the Pilbara and an experienced team with the drive to discover. The tenements are located in prospective areas that are yielding significant deposits, yet are under explored by modern techniques. The board and management's approach is practical and simple, focusing on target generation and action in the field.

During fiscal year ended June 30, 2009 (fiscal 2009), Shaw River had drilled 3,898 meter and collected 7,258 soil and rock chip samples in its programs over its Baramine, Hedland, Mt Minnie and Abydos Projects. In September 2008, Shaw River acquired a 70% interest in two manganese projects.

Hedland/Goldsworthy Project

The Hedland project consists of three exploration licences and an application for an exploration licence proposed to be acquired 100% by Shaw River. This will also allow access via the sealed Marble Bar to Port Hedland Highway which transects the project.

The Hedland project covers a belt of ground approximately 50 kilometres in length and up to 20 kilometres wide that trends north east to south west. The tenements are bound by the Mallina and Tabba Tabba shears to the west and east respectively. Both these structures and crustal scale faults are widely accepted to be key contributing factors in the formation of local gold and base metal deposits at Turner River, Indee, Wingina Well, Orchard Well and Supply Well.

Shaw River's tenement E45/2569 overlies this projected extension and the intersection of the Tabba Tabba and Mallina Shear Zones. In August 2007, the first ever air-core drilling program was completed over the projected position of the greenstone belt. A total of 150 holes for 2543m were drilled and a total of 1685 samples (composited to 4m in overburden, 1m samples in regolith and bedrock) were collected and submitted for multi-element analysis (Au, Ag, Cu, Pb, Zn, As, Ba, Mo, Ni, Se, Te and U).

The Hedland project lies approximately 42 kilometres south east of the town of Port Hedland, in the Pilbara region of Western Australia. Surrounding infrastructure includes sealed highway access to Port Hedland. The Goldsworthy Project is located 10km north east of the Hedland Project

Exploration update for Hedland and Goldsworthy includes:

• Completion of 5,485m of RC and 11,373m of RAB/Aircore drilling since July 2007 focused on follow up testing of soil and previously drilled gold anomalies.
• Encouraging drilling results received from shallow 1,040m of RAB drilling in August 2008 over a 300m width, encountered elevated gold with 20 adjacent anomalous gold intersections >0.1 g/t Au on the Mallina Shear Zone at the intersection with the Tabba Tabba Greenstone Belt.
• Drilling focused on testing 20 soil sampling targets over an 8km target area. Drill logging confirms strong correlation between anomalous gold and arsenic in soils and mineralisation in drilling.
• Untested gold targets remain over 9km of strike.
• Soil sampling programs over the adjacent Goldsworthy Project 10km north east of the Hedland Project has generated multiple new zinc and gold drill targets under shallow cover not previously identified or tested.