Mr. Dave Greenwood reports
ADDITIONAL STRONG COPPER AND GOLD INTERSECTION RECORDED AT CULINGERAI
Goldminco Corp. has released an update to its recent exploration activities at the 100-per-cent-owned Temora project.
Further to Goldminco's exploration update release in Stockwatch dated July 22, the company is pleased to report the
results of assays received for the third diamond core hole, TCLD003, completed at the Culingerai
porphyry copper prospect. Hole TCLD003 has recorded a strong copper and gold intersection with
57 metres of 0.50 per cent copper, 0.46 gram per tonne gold and 43 grams per tonne molybdenum from 120 metres depth. This intersection occurs within a large
lower-grade intersection of 111 metres of 0.34 per cent copper, 0.26 gram per tonne gold and 36 grams per tonne molybdenum from 98 metres depth.
TCLD003 was completed to 291.6 metres depth approximately 500 metres south, along strike from previous drilling
at Culingerai to test basement copper and molybdenum anomalism.
This result complements the previously reported holes at Culingerai, TCLD001 and TCLD002. Goldminco
is extremely encouraged by the results to date at Culingerai with considerable scope to extend
mineralization both along strike and in the updip/downdip directions. Results from the recently completed
gravity survey highlight the close association of a distinct gravity bullseye high with the approximate
extent of the known Culingerai porphyry system. This gravity high extends for some
distance farther north and south of the current limit of drilling.
The Mandamah porphyry copper-gold deposit (28.4 million tonnes of 0.35 per cent copper, 0.40 gram per tonne gold) is located approximately
2.3 kilometres farther along strike to the north, while the Monza porphyry copper-gold prospect (12.7 metres of 8.9 per cent copper and 6.15 grams per tonne gold, TMZD001) is located 2.5 kilometres to the south.
CULINGERAI ASSAY RESULTS SUMMARY
Hole From To Interval % Cu g/t Au g/t Mo Comment
TCLD001* 128 317 189 0.28 0.28 15 1.1 grams per tonne Ag
Includes 158 219 61 0.40 0.33 9 1.5 grams per tonne Ag
And 235 278 43 0.30 0.50 3 1.1 grams per tonne Ag
TCLD002* 74 248 173 0.27 0.33 19
Includes 74 92 18 0.36 0.43 21
And 140 212 72 0.33 0.42 8
TCLD003 98 209 111 0.34 0.26 36
Includes 120 177 57 0.50 0.46 43
* -- Previously reported
Goldminco is planning to resume drilling at Culingerai at the earliest opportunity.
About the Temora project
The Temora project covers approximately 1,020 square kilometres in the eastern region of the Lachlan fold belt
in New South Wales, Australia. The region is known for major porphyry and epithermal-type gold and
copper-gold deposits, and contains the Gidginbung volcanics belt, host of the Gidginbung mine
that produced 700,000 ounces of gold until 1995. Goldminco has previously (June, 2008) announced at
the Temora project combined resources of 21.1 million tonnes of 0.35 per cent copper and 0.5 gram per tonne gold indicated and 121.1 million tonnes of
0.32 per cent copper and 0.25 gram per tonne gold inferred.
The Goldminco-controlled New South Wales exploration projects are under the supervision of, and the
data disclosed herein were reviewed by, Scott Munro, who is a qualified person under NI 43-101. Mr.
Munro holds a BSc (Hons) degree in geology from James Cook University, Australia, and is a current
member of the Australasian Institute of Mining and Metallurgy.
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