Traka Resources Limited (ASX: TKL, Traka or the Company) is pleased to advise that it has identified additional significant Rare Earth Element (REE) anomalism within its 100%-owned Mt Cattlin GoldCopper Project in south-west Western Australia.

This work program is now being assisted by Dr. Phillip Hellman, an REE expert with international experience in this field. A review of previously collected airborne radiometric data (1) has highlighted an area characterised by enhanced thorium values that are coincident with an area suggestive of near-surface REE depletion (Figure 1). Auger geochemical samples collected for the completed 3D Geochemical Footprint Modelling program are now being used to undertake further assessment of this potential (2). Residual near-surface thorium anomalies are consistent with depletion of REE into the underlying weathered clay-rich zone by downward leaching. Thorium, being relatively immobile, can therefore be a key indicator of underlying supergene enriched REE mineralisation at the base of the weathered zone

This scenario is especially applicable where the weathered regolith profile is in-situ and not covered by transported overburden. This is the case at Mt Cattlin, where the elevated thorium values occur in gently sloping land immediately west of the Ravensthorpe Fault. This is in contrast with the previously reported TREO anomalies in the centre of the project area, which appear to be structurally controlled (3). The thorium anomaly is an additional target to the TREO targets and significantly increases the scale of REE prospectivity at Mt Cattlin (Figure 2).

Further evaluation of the project data in addition to sampling of old drill holes for REE elements is currently underway. The locations previously observed to have fenite alteration, which is characteristic of the presence of REE-bearing carbonatite intrusives, is also being re-investigated (see images below).

The new thorium anomaly area will be tested alongside the TREO anomalies, with air-core drilling to be conducted to the base of weathering. At this stage, it is not known whether the rare earths in the regolith are readily leachable or locked within resistant phases such as zircon or monazite. Future work will require desorption tests if rare earth elements are found to have accumulated within clay-rich horizons such as found elsewhere in established Ionic Adsorption Deposits (IAD). The underlying bedrock potential for REE elements associated with alkali intrusives and carbonatites can be assessed concurrently via the re-sampling of old drill-holes and the drilling of two deep drill holes planned to test the buried intrusives. These deep holes will be the first to test the core of the multi-phase, strongly hydrothermally intrusive complex that is believed to host all mineralisation at Mt Cattli

Management Comment

Traka's Managing Director, Patrick Verbeek, said: 'This is an exciting new anomaly that further supports the potential to identify significant REE mineralisation at Mt Cattlin. Thorium's unique relationship with REE - which often sees thorium anomalies as a key identifier of deeper REE mineralisation at the base of the weathered zone - make this a high priority target for follow-up drilling. 'Importantly, we're able to test this REE potential as part of our existing copper-gold exploration program, with the planned drill holes set to test the buried intrusives as well as the potential carbonatites. 'We are also planning to undertake an air-core drilling program to further assess the potential for REE mineralisation at surface. 'We are delighted that these programs are being undertaken with guidance from Dr. Phillip Hellman, who is an internationally recognised REE expert with extensive international experience.'

Contact:

Tel: (+61) 8 9322 1655

Fax: (+61) 8 9322 9144

WEB: www.trakaresources.com.au

E: traka@trakaresources.com.au

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