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

“DML - BFS Infill Drilling at Boseto”

http://www.brr.com.au/event/51706

WEDNESDAY, SEPTEMBER 24, 2008, 3:30 PM.

            BRR    Today, Boardroom Radio welcomes the Managing Director of Discovery Metals, Mr. Brad Sampson. Brad, thanks for your time.

10        DML     Good morning, Cameron. Thanks for having me.

            BRR    Brad, you’ve just released an ASX announcement on your Boseto Project. First of all, that’s a very significant result at the Boseto Copper Project in Botswana. Can you tell us a little bit more about these results, please?

15        DML     Absolutely, Cameron. The results of our release yesterday relate to an infill drilling program that’s been underway at the Plutus prospect. All of the holes that were released yesterday, they all sit within the existing resource envelope at Plutus. Plutus is one of the three zones of mineral resource that we have at the Boseto project and all of the holes that we’ve released

20                    yesterday sit within that existing resource envelope. I guess the importance of those is that it’s an infill drilling program, so we started off with daily wide-spaced drilling at average of 500 metre-spaced drill sections. Over the last 12 months, we’ve been working through the Zeta, Petra and Plutus Resources to infill closer to 200- and in some cases close to 100 metre-spaced drill

25                    sections.

                        Some of the results that came out yesterday are very encouraging. One of the holes, PSDD280, was 6.5 metres at 2.1% copper and almost 25 grams per tonne silver. Another one, PSDD282, 13 metres at 2% copper and 20

30                    grams per tonne silver. What’s encouraging for us has been that this particular set of drill holes had almost all returned thicknesses and grades better than the average grade of the Plutus Resource, so that bodes very well for when we remodel the Plutus Resource which is currently underway.

35        BRR    Just a background, please, on the Boseto Project?

            DML     Absolutely. The Boseto Project sits in North Western Botswana. It’s part of the Kalahari Copper Belt, a significant extension of the Zambian Copper Belt that runs right across the north western corner of Botswana and off into Namibia. We have a very large land position. We have the largest land

40                    position of any company in the area, fairly dominant land position right across the north western corner Botswana and major chunk of what’s called the Kalahari Copper Belt.

                        The Boseto Project sits on one of the 14 tenements that we hold in that area.

45                    The company has been working on those tenements now for a number of years; completed the pre-feasibility study on the Boseto Project in the middle of this year, so completed that in June, announced results in July, very promising results coming out of the pre-feasibility study indicating economically and technically viable project, and we believe pretty robust outcomes from the pre-feasibility study on the back of a fairly conservative approach to the pre-feasibility study that we’ve had. A very important milestone that we passed was completion of the pre-feasibility study. We’ve continued with the drilling program at Boseto and have now commenced the

5                      Bankable Feasibility Study on that project. At Boseto, we currently have 49 million tonnes in resource at 1.2% copper -- it’s a mixture of Indicated and Inferred Resource at Boseto Project.

                        So we have passed a very important pre-feasibility milestone, have gotten on

10                    with the Bankable Feasibility Study in a timing that we’d always indicated that we would, continuing the drilling program, and we expect to have the Bankable Feasibility Study completed in the middle of 2009. At this stage, absolutely targeting the development of the project immediately following a successful Bankable Feasibility outcome and envisage the earliest

15                    commissioning of our copper concentrator at the start of 2011. We believe it’s a very exciting project. It is the project on which the company is totally focused at the moment.

            BRR    Brad, we wish you well at the Boseto Project and know that we’ll speak again

20                    with you soon as development unfolds.

            DML     Yes, thanks, Cameron. I appreciate the chance to talk with you this morning.

            BRR    That’s been Brad Sampson, the Managing Director of Discovery Metals speaking to us on Boardroom Radio.

INTERVIEW CONCLUDED

Contact brr@brr.com.au for more information

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