INTERVIEW WITH MR BRAD SAMPSON, MANAGING DIRECTOR OF DISCOVERY METALS LIMITED (DML)

“Boseto Copper Project Update”

http://www.brr.com.au/event/47463

WEDNESDAY, JULY 2 2008, 3:50 PM.

            BRR    Good morning and welcome to Boardroomradio. Today, we’re speaking with Mr. Brad Sampson, Managing Director of Discovery Metals Limited.

10                    Thanks for joining us today, Brad.

            DML     Thanks for having me again, Eddie.

            BRR    Brad, we see Discovery Metals has made some very strong developments in its Bankable Feasibility Study at the Boseto Copper Project, with the couple

15                    of key appointments made for the resource consultancy and also engineering partners. Brad, who has won these tenders?

            DML     Yes Eddie, look we recently completed the Pre-Feasibility Study on the Boseto Copper Project and all the groups have been moved directly to the Bankable Feasibility Study and to progress the Bankable Feasibility Study we

20                    needed to appoint appropriate partners to work with this. So for the Resource Modelling and Mining Engineering which we include Geotechnical out of the study, Snowden Mining Industry Consultants have been awarded the work. We’re very pleased by that because Snowden were involved with the initial resource modelling on the Boseto Copper Project and know the area

25                    extremely well and has a staff of being as on site so possibly very familiar with the project and internationally respected and have very capable team. Some of the team will be based in Brisbane for that study. On the engineering side, I was initially a little concerned actually that having confirmed a contract and background, myself, I know how hard it can be at

30                    different times to attract special interest in the project from the engineering companies. We actually had a very strong field of very credible, very well-known engineering companies. They were interested in working on the study with us and GRD Minproc were the successful engineering company, and we believe that GRD Minproc are really not in position to add significant value to

35                    this study and get to the successful bankable feasibility outcomes that we’re looking for today. As experienced in Africa, have worked on the feasibility studies very recently with similar-sized plans and in fact some similar-sized copper plants. So we’ve been in a very good position not only to add value now for the Bankable Feasibility Study, but potentially to continue on and

40                    build this plan for us upon the successful outcomes from Bankable Feasibility Study.

            BRR    Brad, what stages is Discovery Metals at with the environmental impact assessment?

45        DML     We actually started the environmental permitting sort of the things, so environmental studies when we commenced the Pre-Feasibility Study for the Boseto Project and the process in Botswana is one that I think entirely appropriate. You go out and consult with the local communities and potential effective persons. Those consultations inform the development in terms of reference for Environmental Impact Assessment Studies. You develop those terms of reference, submit them to the Department of Environment for approval, and then, once they’re approved, you get on with the detailed studies. So we’ve worked through all of those steps, we’ve consulted with

5                      (inaudible) (00:02:59)) multiple times, have listened to the feedback. They understand the project, have expressed their interest and concerns to us. The Department of Environment has approved the terms of reference for the studies and those studies are all very well progressed. So we remained on track to have all of the environmental studies completed by the end of this

10                    calendar year, and that’s a very important milestone for us because having that out of that way well in advance of the completion of Bankable Feasibility put us in a very good position to build up this project as quickly as possible.

            BRR    Brad, the funds to technical studies, what are the activities that you’re going

15                    to be occupied within the near future?

            DML     Besides the field of technical studies that’s also have millions, and resource definition drillings continuing at the Boseto Project, so we currently have three diamond rigs, but the drilling expect will bring either another diamond rig or a nice (inaudible) (00:03:54) rig on the side very soon and those rigs, right now,

20                    are continuing to infield drill on the two to three sources also, in fact, during some extension drilling between Plutus and Petra. You may be aware from some the previous discussions that we’ve had that the Plutus prospects continuing to grow towards Petra and we continue to have very interesting intersections between those two resources. So drilling will continue. We’re

25                    also continuing with our regional exploration program and recently had really exciting outcomes at Quirinus, where we went off to a new area, an area that really haven’t been explored before, and have drill-tested anomalies. We have significant anomalies there, one is 8 kilometers long and the initial drill testing highlighted that these anomalies are copper-silver minerals. They’re

30                    very similar style of mineralization to what we’ve got elsewhere on the land tenement package. So the regional exploration further will continue. We’ll continue with our resource definition drilling with Boseto Project and then we personally have some promotional work to do so I’m going to get on the plane in a few minutes. I’ll be going to Africa Down Under Conference in Perth, and

35                    later in the year, in December, we’ll be in London at London Money Conference, again, talking about the company. So, there’s a lot of activity Eddie and it’s going to be a busy round to the end of the year.

            BRR    Brad, certainly it does sound like some fantastic news coming out at

40                    Discovery Metals there. We thank you for your time today and we look forward to speaking to you soon.

            DML     Thanks Eddie, it’s always a pleasure talking with you. Thank you.

            BRR    That was Brad Sampson, Managing Director of Discovery Metals Limited. If

45                    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) and thank you for listening to Boardroom Radio.

INTERVIEW CONCLUDED

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