INTERVIEW WITH RALPH DE LACEY, MANAGING DIRECTOR OF CONSOLIDATED TIN MINES LIMITED (CSD)

“Company Remains Focused on Tin at Mt Garnet”

http://www.brr.com.au/event/48877

FRIDAY, AUGUST 1, 2008, 12:30 PM.

            BRR    Today Boardroom Radio welcomes Ralph De Lacey, the Managing Director of Consolidated Tin Mines. Ralph, thanks for joining us.

10        CSD    Yeah. Thanks, Cameron.

            BRR    Ralph, first time you've been on Boardroom Radio, so welcome. Could you please provide in detail the highlights of your latest drill results from Conslidated Tin Mines drilling program at Mount Garnet?

15        CSD    Yes, certainly. Cameron, thanks for the question. These drill results are actually the second batch of results for the recently completed program at the Mount Garnet project, and they have returned some quite significant tin intercepts as well as some very interesting iron intercepts. The drilling program focused on three key deposits, Gillian, Deadman’s Gully, and

20                    Pinnacles and the grains were better than the company expected. Some highlights of the results were from the Gillian project. Hole 4, we had - from 14 to 27 meters drill hole, we had a 30-meter intercept with 2.02% tin and 44.8% iron. And also on Gillian, in Hole 7, from 14 to 37 meters down hole, 27-meter intersect averaging 1.14% tin and 32.7% iron. Another very

25                    interesting one, very encouraging one was the first hole we've received back from the Deadman’s Gully project. That was Hole 25 and from the surface to 21 meters down, it returned an average of 0.49% tin and 37.5% iron.

            BRR    And Ralph, the iron potential of the project must also be very encouraging for

30                    the company.

            CSD    Yes, very much so. We recently carried out some rock chip sampling over the project which produced very good values of iron, from between 20 - between 30% and 50%. So, we took the decision to have the Gillian program also test for iron. This has not been assayed in the area previously. The iron results

35                    from the drill program mostly occur in magnetite and continue to be very, very good. We will now seriously investigate the potential for iron concentrate as well as tin concentrate at the Mount Garnet area.

            BRR    Can you tell us a little bit about the upcoming activity plan of the project?

40        CSD    Certainly. The Mount Garnet tin project is the number one focus for the company, and at the moment, we’re about one-third of the way through receiving the results from our first drill program. And we believe that given our knowledge of the ground, we will see further strong results. The first drill program was designed to provide verification of existing data and obtain

45                    material for the metallurgy testing. In August and September, we will commence our second drilling program of the project to expand and update the resource base. This already has a JORC-compliant resource of 3.3 million tonnes at 0.8% tin for 18,000 tonnes of contained tin metal at the Gillian deposit. And in November, we will commence a scoping study which we aim to have completed by the end of the year. So, it's considered (inaudible) (00:03:42) for the remainder of the year as all part of the company's goal to bring the project into production as soon as possible.

5          BRR    And Ralph, finally, can you please tell us a little bit about Consolidated Tin Mines, the company?

            CSD    Yes, sure. The Consolidated Tin Mines was listed on the ASX in February this year with a focus on discovering and developing major tin deposits in North Queensland. Our project area is located about 200 kilometres southwest of

10                    Cairns in the Heberton tin field which is one of the premier tin-producing fields in Australia. Consolidated Tin Mines Technical Director John Sainsbury and myself have operated in this area for many years and that experience has helped support what we believe is best at the tin exploration projects in the area, which we will look to develop into a successful mining operation to

15                    provide strong shareholder returns. The company's vision is to become premier hard rock tin producer in Queensland.

            BRR    Ralph, we thank you very much for your time in giving some update on Consolidated Tin Mines. That's been Ralph De Lacey, the Managing Director,

20                    speaking to us on Boardroom Radio. Now we remind our listeners they are Ralph a question through the webcast which will allow to send to Ralph for answering at a later stage. Ralph, thank you.

            CSD    Yeah. Thanks, Cameron.

INTERVIEW CONCLUDED

Contact brr@brr.com.au for more information

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