Citigold Corporation Limited provided an exploration update. Anomalous gold results identified 18 sites in an area that has no historical known outcropping gold deposits. Further work to trace the source of the anomalous rock samples is underway.

Geophysical data and structural geology are being assessed to narrow down areas for further analysis and field sampling. Follow-up rock sampling in creeks to the north of Charters Towers continued to return encouraging anomalous gold results (greater than 0.1 g/t) across an area 9 km east-west by 6km north-south. From a program of 116 sample sites, 18 sites returned fire-assay gold results greater than 0.1 g/t Au in an area that has no historical known outcropping gold deposits.

Anomalous samples from the eastern flank are a lower priority, as they occur along Gladstone Creek and then drain to known mineralised areas further south. However, the northern and western sites are of particular interest and may indicate previously unknown outcropping gold mineralisation. Further work to trace the source of the anomalous rock samples is underway.

Interpretation of geophysical data and structural geology are being assessed to narrow down areas for further analysis and field sampling. A soil sampling program may be undertaken if the outcrop sources cannot be easily located. Areas to the south of Charters Towers around the Imperial mine site will also be followed up after earlier sampling returned samples indicative of volcanogenic massive sulphide (`VMS') style of mineralisation.

Charters Towers Project Overview Citigold is an Australian gold mining and exploration company, operating on the high-grade Charters Towers goldfield in north-east Australia, 1,000 kilometres north of Brisbane, Queensland, and 130 kilometres south-west by sealed highway from the major coastal port of Townsville. The Company continues to advance its core activities including mine design and engineering, broad regional exploration programs, and working towards restarting its world-class gold mine.