Please find below a link to our announcement released today to the ASX which sets out in detail the Company?s Tin Strategy:

http://www.malachite.com.au/pdf/asx/2008/MAR%20-%20MALACHITES%20TIN%20STRATEGY%205NOV08.pdf

ELSMORE TIN PROJECT TO UNDERPIN           

MALACHITE?S FUTURE GROWTH

SUMMARY

?        In response to the crisis in financial markets and the rapidly changing investment environment, Malachite is accelerating its plans to generate a sustaining cash flow within a short timeframe by developing a tin mining operation in northern NSW.

?        The Company is targeting a semi-consolidated alluvial tin deposit, known as the Karaula Lead, located at the Newstead Prospect, part of Malachite?s wholly owned Elsmore Tin Project.

?        Drilling by Malachite has shown that the Karaula Lead contains a large volume of mineralised paleo-alluvium with widely variable grades, in the range 0.2 to 17kg of Sn/m³.

?        A bulk sampling program is set to commence next week with a view to confirming that, overall, tin is present in economic amounts.

?        The size and type of operation envisaged would be within Malachite?s financial and technical capacity and the Company plans to draw on production plant and operating expertise from the local sapphire mining industry.

?        The outlook for tin prices continues to be better than for most other metals, with tin currently at approximately $A24,000/t.

Regards

Andrew J. Cooke

Company Secretary

Malachite Resources NL

Tel: +61 2 9411 6033

Fax: +61 2 9411 6066

Mob: 0412 090 826

Email: acooke@malachite.com.au

Website: www.malachite.com.au