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Carnavale Resources

Monday, August 20th, 2007

Carnavale Resources Limited is pleased to announce an update on exploration at the Parmegiana Iron Ore Project in Brazil.
Assay results from 26 rock chip samples taken across the 32 kilometres of strike length have confirmed high grade Fe-ore units in the Northern sector of the Company’s tenement package.
Assay results are pending from a further 51 samples collected along north-south lines at 1 kilometre spacing along the Central northern iron ore ridge.
A diamond drilling program is planned to commence in the December 2007 quarter to test the initial 32 kilometres of strike extent of the Parmegiana Project.
Rock chip sampling and mapping continues on the remaining 18 kilometres of strike length in the Southern sector of the Tenement package.
Highlights
– Rock chip sampling confirms high grade surface iron enrichment.
– 14 of 26 samples taken at 500 Metre intervals return grades in excess of 60% Iron (Fe).
– Strike extent has been inferred from regional reconnaissance to extend for greater than 30km.

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