Spectrum Metals Limited provided an update on the exploration activities currently being undertaken at the Penny West Project and the likely activity from now until the end of the year. Key Points: Reverse Circulation (RC) and Diamond drilling are on-going at Penny West; Latest RC hole at Penny North (SPWRC104) shows abundant coarse gold in panning in the southern-most hole at Penny North over the interval 321 - 323m downhole; The RC rig will now move to drill holes at the Magenta Prospect, 1.5km to the north of the Penny West open pit; Spectrum's on-site geology team continues to log core and prepare the core for cutting, sampling and transportation to Perth for assaying; Preparation work to define a maiden resource for the Penny West project continues; Project development /feasibility work has been initiated with the field component of a baseline environmental study already completed.