INTERVIEW WITH WAYNE RYDER, EXECUTIVE CHAIRMAN OF EAGLE EYE METALS LIMITED (EYE)

“Eagle Eye Takes Step Forward in Exploration Fortunes”

http://www.brr.com.au/event/48756

TUESDAY, JULY 29 2008, 2:00 PM.

BRR Good morning and welcome to Boardroomradio. Today we are talking with Wayne Ryder, managing director of Eagle Eye Metals Limited. Welcome to

10 Boardroom Radio, Wayne.

EYE Thank you very much, Eddie.

BRR Wayne, the 2008 financial year has seen Eagle Eye take a major step forward in its exploration fortunes and placed the company in a strong

15 financial position. What has contributed to this?

EYE Yes, particularly, Eddie, during our joint venture with Poseidon Nickel in relation to our main exploration project near Leonora the Waite Kauri Nickel/Cobalt project, we’ve signed an 80-20 joint venture with Poseidon whereby (inaudible) (00:00:41) 80% interest in the project by spending the

20 next $500,000 on the project further proving up reserves and doing metallurgical tests and getting it to the stage where the resource is efficiently strong enough to look at mining at Windarra Nickel plant. So that’s contributed massively to our forward progress and frees up our expenditure commitments and so we look forward to working with Poseidon on that over

25 the coming months.

BRR Okay, Wayne, so obviously this partnership with Poseidon has been beneficial not only for your current nickel project but other projects. Would you like to just elaborate what Eagle Eye are doing in the future from the

30 benefits of that partnership?

EYE Yes, Eddie. Whilst we remain committed to the development of the other exploration projects contained in our original 2006 prospectus, we are also now in a position where the company has the capacity to beneficially expand operations by way of participation in new projects. This is particularly so

35 because our major exploration commitment was at Waite Kauri Nickel/Cobalt project, and now, of course, Poseidon have taken over the financial responsibilities of developing that. We’re in a freed-up situation. We’ve got some three-odd million dollars of cash at bank and there are opportunities coming up. We’re currently looking at several acquisition opportunities in the

40 range of different commodities within and outside of Australia that show the capacity to increase the company’s level of involvement in the mining industry.

BRR Thank you very much for your time today, Wayne, and hopefully we hear from

45 EYE You certainly will be hearing from us shortly and we’re looking forward to a very successful 2009 financial year. 2008 has been terrific and greater things ahead. Thanks very much, Eddie.

BRR Thank you. That was Wayne Ryder, managing director of Eagle Eye Metals Limited. If you have any questions about this broadcast or any other broadcast, please feel free to contact us on brr@brr.com.au. I’m Eddie (inaudible) (00:02:57) and thank you for listening to Boardroom Radio.

INTERVIEW CONCLUDED

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