ASX and Media Release

11 December 2007

JIMBLEBAR GOLD - DRILLING AND EXPLORATION UPDATE

KEY POINTS

•           Aircore drilling, rock chip and soil sampling results outline new gold targets

•           RC drilling programme commences

•           Further soil sampling and Gradient Array IP surveys in progress

Diversified Pilbara explorer Warwick Resources Limited (ASX:WRK) has commenced an RC drilling programme on the Company’s 100% owned Jimblebar gold project near Newman, following further encouraging exploration results.

Warwick Resources Managing Director Bruce McQuitty said recent aircore drilling, rock chip sampling and soil sampling programmes have identified seven promising new gold targets which will be the subject of further investigation.

“These results represent further exploration progress for Warwick Resources, and vindicates the extensive exploration programme we have in place across the historic Jimblebar region,” Mr McQuitty said.

The Company is targeting predominantly open pit gold resources at Jimblebar, initially focusing on the Sunny South Prospect where shallow high grade intersections have been identified. The current RC drilling programme will also target the previously mined Shearer’s prospect for the first time.

A total of 111 aircore drill holes, 110 soil samples and 108 rock chip samples tested a 5km strike length of the Jimblebar mineralised trend on 100m to 400m spaced traverses in order to identify geochemical anomalies for subsequent drill targeting (see Figure 1).  Aircore drilling was used to obtain samples of weathered bedrock in areas of transported cover, soil sampling was employed in areas with limited amounts of outcrop and rock chip samples were taken in areas where soils were absent, such as on the Jimblebar range of hills.

Highlights of the geochemical sampling programme include:

• Two large gold anomalies (>25ppb Au) and two subordinate anomalies with soil results to 816ppb Au to the south of Sunny South have defined a new target zone 1km in length which remains open to the east (see Figure 1).
• A 700m long gold anomaly centered on the Shearers workings includes three rock chip values above 1g/t Au, with a maximum value of 2.39g/t Au.
• Large gold anomalies are associated with the Middle Watch (max 834ppb Au in soils), Pilliwinkle (max 269ppb Au from aircore) and Sunny South prospects (max 807ppb Au from aircore), the latter two are open to the east.

• Strongly anomalous gold and base metals from the Koondra prospect (max 732ppm Au in soils, 2.3% Pb, 0.27% Cu, 0.11% Zn from rock chips), which remains open to the south.
• A new target, 600m to the north of Koondra, with maximum values from aircore drilling of 97ppb Au and 4,550ppm tungsten.

The anomalies to the south of Sunny South and to the north of Koondra represent promising new targets.  A further phase of aircore drilling is required to obtain a better understanding of the extent of the anomalies before they are subject to RC drilling. This next phase of work is scheduled for February.

The current RC drilling programme will be directed at the Sunny South and Shearers prospects which lie 1km apart within the 2km long historical Jimblebar goldfield.

Warwick Resources’ recent drilling at Sunny South has demonstrated the presence of high gold grades at shallow depths and a mineralised strike length of 600m, open to the north and south.  In June, Warwick Resources announced a gold intercept from Sunny South of 1m @ 144g/t Au within 8m @ 20.4g/t Au from 34m depth.

The geometry of the mineralised lodes in the vicinity of the historical workings at Sunny South has been reinterpreted by Warwick Resources’ geologists to consist of three stacked lodes, each dipping at about 40 degrees to the east. Further to the south a single lode has been identified, extending over a strike length of 400m. The current drilling programme is designed to test the new interpretation.

This programme will also be the first time that Warwick has drilled the Shearers lode, where sporadic shallow drilling by previous explorers returned best intersections of 1m @ 5.4g/t Au, 3m @ 3.1g/t Au and 15m @ 0.6g/t Au. Small-scale mining of the Shearers lode in the early 1930’s produced 1,792 oz Au from 6,100t of ore at an average grade of 9.1g/t.

Results from drilling are expected from late January.

A further programme of soil sampling and a Gradient Array Induced Polarisation (IP) survey are in progress at Jimblebar. The Gradient Array IP is considered to be an effective technique for locating disseminated sulphides which form a halo to gold mineralisation at Jimblebar. Results from the survey are also expected from late January.

For further information, please contact:

Warrick Hazeldine                                              Bruce McQuitty

Purple Communications                                      Warwick Resources Limited

Phone: 08 9485 1254 / Mobile: 0417 944 616       Phone: 08 9481 8181 / Mobile: 0409 929 121

Email: whazeldine@purplecom.com.au                Email: bmcquitty@warwickresources.com.au

Website: www.warwickresources.com.au

Figure 1: Gold anomalies from aircore drilling and soil sampling at Jimblebar

***

The new Spam Act commenced on 10 April 2004. This Act is aimed at reducing the amount of unauthorised emails you receive.  You have been receiving e-mails containing information and news releases from us on behalf of our clients because you are an important contact of Purple Communications, a boutique stakeholder communications consultancy.   If you do not wish to receive such emails from Purple, please click mailto: purple@purplecom.com.au subject=UNSUBSCRIBE or reply to this email and put UNSUBSCRIBE in the subject line and we will not email you again.

 If you do not reply, we will continue sending you relevant news and information via email. However, all future emails will allow you to unsubscribe.

Issued by

Purple Communications

Level 3, 28 Kings Park Road, WEST PERTH WA 6005

Ph: 08 9485 1254     Fax: 08 6263 0455

purple@purplecom.com.au