NEW COPPER DEPOSIT IDENTIFIED AT ROSEBY - Altona Mining

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NEW COPPER DEPOSIT IDENTIFIED AT ROSEBY - Altona Mining

Seven RC holes were drilled at Turkey Creek all of which intersected low to medium gradecopper mineralisation including higher grade zones up to 5 metres at 1.18% copper. Drilling hasconfirmed a 400 metre strike length of mineralisation with widths ranging up to 50 metres. Themineralisation in RC drilling is open down dip and along strike to the north and to the south(Figures 3 to 5). Sulphide mineralisation appears to be chalcocite dominant and low in gold. Thisis a new mineralisation style for Roseby. The drilling provides sufficient data for an initial inferredresource estimate to be completed later this year.Figure 1: Rotary Air Blast (RAB) drilling at Turkey CreekRAB drilling consisted of 236 shallow vertical holes with an average depth of 15 metres. Drillingwas planned to test the Turkey Creek target and to extend previous bedrock sampling adjacent tothe proposed Little Eva mine site. A total of 18 holes intersected copper grades above 0.1% andindividual samples returned values up to 1.92% copper. These results indicate a further 500metre strike extension of the Turkey Creek mineralisation identified by RC drilling. Mostsignificantly, a 100 metre wide zone was identified by a line of four consecutive RAB holes withover 0.5% copper located 300 metres north of the current RC drilling. In addition, threeanomalous areas have been identified east of Turkey Creek and south-east of Little Eva (Figure3).AOH0391 2.


Please direct enquiries to:Alistair Cowden James Harris Axino AGManaging Director Professional Public Relations Investor & Media RelationsAltona Mining Limited Australia GermanyTel: +61 8 9485 2929 Tel: +61 8 9388 0944 Tel: +49 (711) 25 35 92 30altona@altonamining.com james.harris@ppr.com.au service@axino.deAbout AltonaAltona Mining Limited has a copper-gold-zinc underground mine and processing plant atOutokumpu in Finland. The project is ramping up to design production rate of 550,000tpa. Theproject produces both copper-gold concentrate and zinc concentrate for sale.The Roseby Project near Mt Isa in Queensland is one of Australia’s largest undeveloped copperresources. A Definitive Feasibility Study (DFS) has been completed which envisages theproduction of 39,000 tonnes per annum of copper, and 17,000 ounces per annum of gold for 10years from a large scale open pit-mining operation. Environmental and regulatory approvals arewell advanced.Altona is listed on the Australian Stock Exchange (AOH) and the Frankfurt Stock Exchange(A20).Competent Persons StatementInformation in this ASX Release that relates to Exploration Results, Mineral Resources or OreReserves and in particular to data quality, is based on information compiled and reviewed by DrAlistair Cowden, BSc (Hons), PhD, MAusIMM, MAIG and Mr Jani Impola, MSc, MAusIMM whoare both full time employees of the Company and who have sufficient experience which isrelevant to the style of mineralisation and type of deposit under consideration and to the activitywhich they are undertaking to qualify as Competent Persons as defined in the 2004 Edition of the‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’(The JORC Code). Dr Cowden and Mr Impola consent to the inclusion in the release of thematters based on their information in the form and context in which it appears.AOH0391 3.


Figure 2: Copper deposits in the central portion of the Roseby Project and the location of TurkeyCreekAOH0391 4.


Figure 4: Turkey Creek 2012 RC drilling and significant interceptsAOH0391 6.


APPENDIX 2: DRILL HOLE LOCATIONSTable 3: Location of RC drill holes at the Turkey Creek prospect (AMG Zone 54 (AGD 84)Hole ID Easting NorthingRLDepthAzimuth Dip(m)(m)TCKR004 412341 7771214 177 270 -55 198TCKR005 412297 7771315 179 270 -55 180TCKR006 412347 7771315 180 270 -55 240TCKR007 412338 7771115 180 270 -60 120TCKR008 412388 7771115 179 270 -60 198TCKR009 412290 7771415 176 270 -60 168TCKR010 412278 7771516 180 270 -60 168TOTAL 1,272AOH0391 9.


APPENDIX 3: DETAILS OF DRILLING PROGRAMME AND SAMPLING, ASSAYINGDrillingTCKR series holes were Reverse Circulation (RC) hammer drilled so as to produce maximumsample return with a minimum of contamination.Drilling was performed using a Swick Mining Services configured Schramm T685 RC drill rig withface sampling hammer. Auxiliary air compressor and booster, with a minimum capacity of1000psi and 2700cfm, were utilised for sample return and dryness. All holes were drilled at 5.5inch diameter. RC drill chips were collected in one metre intervals at the rig using a rotary splitter.LEB series holes were completed by Drill Torque with a TD350 model rig mounted on an Isuzu4x4 truck. All holes were drilled with a 4.5 inch Rotary Air Blast (RAB) hammer bit. RAB chipsamples were collected with a scoop over 1-6m intervals at the discretion of the supervisinggeologist.Assay MethodsRC chip sample assaying was undertaken at Australian Laboratory Services (ALS) in Townsville.A suite of 51 elements including copper, silver and sulphur were determined by method ME-MS41 (Aqua Regia digest with ICP-MS). Gold was determined by method Au-AA25 (30g fireassay with AAS). Samples with greater than 1% copper were re-analysed using an ore gradeAqua Regia and ICP-AES or AAS method (Cu-OG46). Other analytes with greater than 1%assays were analysed with Aqua Regia and ICP-AES or AAS method (ME-OG46, Zn-OG46, Ag-OG46).Reference standards and blanks were inserted into the sample stream in the ratios 1:20 and1:40, respectively. Field duplicates were collected with every 20th sample.RAB drilling samples were assayed at Australian Laboratory Services (ALS) in Townsville usingthe ME-MS41 method for 51 elements. Any samples exceeding 1% copper were re-analysedusing the ME-OG46 method. Randomised reference standards were inserted into the sampleseries every 40th sample.Data AggregationSignificant Turkey Creek RC intercepts reported for those intercepts with average grades above0.4% copper. Intercepts were calculated using a 3 metre minimum intercept length, a 6 metremaximum internal waste and a lower cut-off grade of 0.3% copper.Significant RAB results are reported for holes where maximum copper grade exceeds 0.1%.AOH0391 10.


APPENDIX 4: RESOURCE ESTIMATES FOR THE ROSEBY PROJECTSummary of Mineral Resource Estimates for the Roseby ProjectDEPOSITCOPPER-GOLD DEPOSITSTOTALCONTAINEDMETALMEASURED INDICATED INFERREDTonnes Grade Copper Gold Tonnes Grade Tonne Grade Tonnes GrademillionCu AuCu AuCu AuCu Autonnes ounces millionmillionmillion% g/t % g/t % g/t % g/tLittle Eva 100.3 0.54 0.09 538,000 271,000 36.3 0.63 0.08 41.4 0.48 0.08 22.6 0.49 0.11Ivy Ann 7.5 0.57 0.07 43,000 17,000 5.4 0.60 0.08 2.1 0.49 0.06Lady Clayre 14.0 0.56 0.20 78,000 85,000 3.6 0.60 0.24 10.4 0.54 0.18Bedford 1.7 0.99 0.20 17,000 11,000 1.3 1.04 0.21 0.4 0.83 0.16Sub-total 123.4 0.55 0.10 675,000 384,000 36.3 0.63 0.08 51.7 0.52 0.09 35.5 0.51 0.13COPPER ONLY DEPOSITSBlackard 76.4 0.62 475,000 27.0 0.68 6.6 0.60 42.7 0.59Scanlan 22.2 0.65 143,000 18.4 0.65 3.8 0.60Longamundi 10.4 0.66 69,000 10.4 0.66Legend 17.4 0.54 94,000 17.4 0.54Great Southern 6.0 0.61 37,000 6.0 0.61Caroline 3.6 0.53 19,000 3.6 0.53Charlie Brown 0.7 0.40 3,000 0.7 0.40Sub-total 136.7 0.61 840,000 27.0 0.68 25.0 0.64 84.7 0.59TOTAL 260.1 0.58 0.05 1,515,000 384,000 63.2 0.65 0.05 76.7 0.55 0.06 120.1 0.56 0.04See ASX release of 26 July 2011, 19 December 2011, 23 April 2012, 3 July 2012 and 22 August 2012 for full details of resource estimation methodology andattributions.Note: All figures may not sum exactly due to rounding.Little Eva is reported above a 0.2% copper lower cut-off grade, all other deposits are above 0.3% copper lower cut-off grade.AOH0391 11.

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