Strategic Minerals Corporation NL advised that it has received the Woolgar Gold Project ­ Gold Recovery Testwork Report ("the Report") from its consultants, Core Metallurgy Pty Ltd. The comprehensive first stage metallurgical testwork program evaluated key aspects including comminution, ore sorting, gravity, flotation, leaching and tails treatment etc. The Report highlights that gold recoveries exceeding 90% can be achieved utilising a conventional gold comminution and process flowsheet including crushing and milling, gravity separation, and cyanide leaching. Key outcomes of the Report included: Comminution testwork has shown that BVS ore is readily crushed, but the ore is hard to grind (high Bond Ball Mill Work Index and Finer Grind Work Index). Additional testwork will be required during the next stage of work to define an optimal comminution circuit. Ore sorting testwork successfully removed low grade and waste rock materials from the ore. Additional testwork and trials will be required during the next stage of work to define an optimal grade engineering solution. Gravity concentration tests successfully recovered about one third of the gold from the ore. Agitated leaching tests successfully recovered over 90% of the gold and over 80% of the silver from the ore. Additional testwork will be required during the next stage of work to define optimal leach characteristics (i.e. residence time and grind size). Alternatively, "un-optimised" Glycine-assisted CIL (Glycine CIL) approach gave a slightly inferior gold recovery of less than 90%. Additional testwork will be required to define if Glycine CIL characteristics can be optimised and incorporated into the flowsheet. Flotation tests did not produce acceptable gold recoveries from the ore as an alternative to cyanide leaching. Heap leaching tests of primary low and high-grade ores did not produce acceptable gold recoveries from the ore at the crush sizes tested. Dewatering tests on the testwork residues ("tails") showed that over 80% of the process water could be recovered from the tails. Additional testwork will be required during the next stage of work to assess tails detoxification and long-term storage amenability. Strategic has now completed the comprehensive metallurgical testwork program in line with previous market announcements. The results from this program of work will now be incorporated into the Process Engineering program which will provide essential information required for a Prefeasibility Assessment. There is also a smaller testwork program which can be completed in tandem with Process Engineering. The next phase will be undertaken as soon as the Company can ensure it can cover the costs of the engagement.