Dear Karolina,

ASX Announcement

Encouraged by the 20 year high prices for gold and antimony (US$5,850 /t) and the robust price outlook for each metal in the short to medium term, the Company is pleased to advise that it has implemented the first steps of the Blue Spec action plan announced on 16 November 2007. These steps include:

1. commencing the infill resource drilling programme at Blue Spec aimed at up-grading the currently defined JORC resource (320m to 470m vertical depth extent) towards reserve categorisation;
2. appointing Red Rock Engineering principal consultant Stephen Miller to lead scoping studies into the development of the Blue Spec deposit; and
3. continuing resource analysis and modelling of 2007/08 Diamond drilling results from the Blue Spec extensional zones in preparation for the announcement of a revised JORC-compliant resource estimate for the Blue Spec deposit, scheduled for late March.

Please follow this link to read the announcement: Blue Spec Shear Gold Project - Development Update (340.10 Kb)

Regards,
John J. Merity
Managing Director

www.nw-resources.com.au

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