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Consolidated Minerals Limited

Friday, July 6th, 2007

Consolidated Minerals Limited is pleased to advise that it has received further significant high-grade nickel intersections at the Gillet Prospect, part of its Widgiemooltha nickel portfolio in Western Australia. The latest results confirm that Gillet is emerging as a significant new nickel discovery for the Company.
Diamond and reverse circulation drilling has now defined a zone of nickel sulphide mineralisation at Gillet over a strike of 400 metres. Gillet is located within the prospective Widgiemooltha Dome, 20km east of Kambalda, 1.5km from Consolidated’s Widgie Townsite deposit and 8km from the 132N deposit, where the Company recently commenced mining activities (as announced on 19 June 2007).
The latest drilling results include an intersection of 14 metres at 3.34% Ni in hole WDC338, the widest and highest grade intersection received to date from the Gillet Prospect. Other significant results included:
• 14.2m @ 1.46% Ni (WDD164 from 215.8m))
• 28.75m @ 2.06% Ni (WDD164 from 250.25m)
• 11.8m @ 2.95% Ni (WDD233 from 156m)
To date mineralisation has been intersected over a strike of 400 metres and a down-dip width of approximately 100 metres. The mineralisation is open to the north, south and down dip. Follow-up drilling is currently under way.
The Gillet Prospect was discovered last year through diamond drilling of a SQUID EM (electromagnetic) conductor.
Consolidated Minerals’ Managing Director, Rod Baxter, said: “We are delighted with these results, which continue to demonstrate the potential of this area to yield significant new nickel discoveries. Following the recent announcement of the imminent commencement of mining from the 132N deposit at Widgiemooltha, we look forward to further good news from our exploration and development programmes in this region, which continues to emerge as an important second nickel production centre for the Company.”
For further details visit: www.consminerals.com.au

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