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/ MEDIA RELEASE+ACY-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAPA-span 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+ADw-/span+AD4AJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs- 1 OCTOBER 2008+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/b+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-p class+AD0-MsoNormal align+AD0-center style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt: auto+ADs-text-align:center'+AD4APA-b+AD4APA-span lang+AD0-EN-AU style+AD0-'font-size:20.0pt+ADs-mso-ansi-language: EN-AU'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/b+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal align+AD0-center style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt: auto+ADs-text-align:center'+AD4APA-u1:place u2:st+AD0AIg-on+ACIAPgA8-u1:country-region u2:st+AD0AIg-on+ACIAPgA8-b+AD4APA-span lang+AD0-EN-AU style+AD0-'font-size:22.0pt+ADs-mso-ansi-language:EN-AU'+AD4-India+ADw-/u1:country-region+AD4APA-/u1:place+AD4- Resources Announces 2008 Results+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/b+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal align+AD0-center style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt: auto+ADs-text-align:center'+AD4APA-b+AD4APA-i+AD4APA-span lang+AD0-EN-AU style+AD0-'font-size:14.0pt+ADs- mso-ansi-language:EN-AU'+AD4-Ramp up phase of the Surda Copper Operation nears completion+ADw-/span+AD4APA-/i+AD4APA-/b+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:14.0pt+ADs-mso-ansi-language: EN-GB'+AD4APA-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span lang+AD0-EN-GB style+AD0-'mso-ansi-language:EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span lang+AD0-EN-GB style+AD0-'mso-ansi-language:EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span lang+AD0-EN-GB style+AD0-'mso-ansi-language:EN-GB'+AD4-India Resources Limited (ASX: +ADw-b+AD4-IRL+ADw-/b+AD4-) today announced its financial results for the 12 months to 30 June 2008. The results reflect the investment in and ramp-up of copper production at the Surda Copper Mine in +ADw-u1:place u2:st+AD0AIg-on+ACIAPgA8-u1:country-region u2:st+AD0AIg-on+ACIAPg-India+ADw-/u1:country-region+AD4APA-/u1:place+AD4- as well as a one-off provision associated with the Company?s loan to Monarch Gold Mining Company Limited. +ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:6.0pt+ADs-mso-ansi-language: EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span lang+AD0-EN-GB style+AD0-'mso-ansi-language:EN-GB'+AD4-The net loss of +ACQ-12.6 million+ACo- included production costs of +ACQ-6.1 million, as well as several non-cash items including a +ACQ-2.6 million provision for the loan to Monarch Gold, a +ACQ-704,000+ADw-span style+AD0-'color:navy'+AD4- +ADw-/span+AD4-provision for a change in the fair value of the Company?s investment in Pebble Creek Mining Limited, depreciation and amortisation of +ACQ-1.3 million and a valuation of employee and director?s options of +ACQ-1.4 million. +ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:6.0pt+ADs-mso-ansi-language: EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span lang+AD0-EN-GB style+AD0-'mso-ansi-language:EN-GB'+AD4-The bottom line result was based on initial sales revenue of +ACQ-3.8 million generated from initial copper concentrate sales from the Surda Operation, which commenced copper concentrate+ADw-span style+AD0-'color:navy'+AD4- +ADw-/span+AD4-delivery in December 2007. The Company has now spent over +ACQ-16 million on the Surda Operation which includes capital, operating costs and development.+ACY-nbsp+ADs- +ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:6.0pt+ADs-mso-ansi-language: EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span lang+AD0-EN-GB style+AD0-'mso-ansi-language:EN-GB'+AD4-The Surda Operation, located in +ADw-u1:PlaceName u2:st+AD0AIg-on+ACIAPg-Jharkhand+ADw-/u1:PlaceName+AD4- +ADw-u1:PlaceType u2:st+AD0AIg-on+ACIAPg-State+ADw-/u1:PlaceType+AD4- within the Indian Copper Complex, is the Company?s first mine development in +ADw-u1:place u2:st+AD0AIg-on+ACIAPgA8-u1:country-region u2:st+AD0AIg-on+ACIAPg-India+ADw-/u1:country-region+AD4APA-/u1:place+AD4- through its alliance with Hindustan Copper Limited (HCL). +ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:10.0pt+ADs-font-family:Georgia+ADs- color:navy+ADs-mso-ansi-language:EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span lang+AD0-EN-GB style+AD0-'mso-ansi-language:EN-GB'+AD4-During the year, India Resources completed the refurbishment of the existing underground mine and the nearby Mosaboni concentrator, introducing new modern mining and processing equipment+ADw-span style+AD0-'color:navy'+AD4- +ADw-/span+AD4-and developing additional mining blocks.+ADw-o:p+AD4APA-/o:p+AD4-+ADw-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:6.0pt+ADs-mso-ansi-language:EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span lang+AD0-EN-GB style+AD0-'mso-ansi-language:EN-GB'+AD4-Mining is currently underway in eight stopes with the ramp-up of production to an initial target of 450,000 tonnes per annum at a forecast average grade of 1+ACU- Cu well advanced. +ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span lang+AD0-EN-GB style+AD0-'font-size:6.0pt+ADs-mso-ansi-language: EN-GB'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span lang+AD0-EN-GB style+AD0-'mso-ansi-language:EN-GB'+AD4-Copper concentrate production has also been steadily building, with 1,335 tonnes grading 23.5+ACU- Cu produced in the March Quarter and 2,073 tonnes grading 24.53+ACU- Cu in the+ADw-span style+AD0-'color:navy'+AD4- +ADw-/span+AD4-June Quarter. +ADw-/span+AD4-Concentrate production for the September Quarter is forecast at 2,580 tonnes at 24+ACU- Cu and for the December Quarter at 3,800 tonnes at 25+ACU- Cu.+ADw-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span style+AD0-'font-size:6.0pt'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4-The Company?s next objective is to achieve stable annualised mine production of 450,000 tonnes, and possibly to increase production to a longer term target of 900,000 tonnes per annum via a decline development.+ADw-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span style+AD0-'font-size:10.0pt'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4-Our next milestone production objective is to achieve stable production of 40,000 tonnes per month, which will be achieved during the December 2008 Quarter,? said India Resources? Chairman, Mr Andrew Simpson. ?However, equally importantly, the Surda Mine is on track to achieving an operating cash flow positive position by the next quarter.+ADw-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span style+AD0-'font-size:8.0pt'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4-?We expect the +ACQ-3.8 million working capital facility which was established during the year to underpin the Surda development to be fully repaid by the June 2009 quarter ? after which+ADw-span style+AD0-'color:navy'+AD4- +ADw-/span+AD4-earnings generated will flow back to India Resources,? he continued.+ADw-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span style+AD0-'font-size:8.0pt'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4-All copper concentrate produced at Surda is sold to HCL, with the concentrate delivered to the nearby Maubhandar Works, part of the Indian Copper Complex. +ADw-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span style+AD0-'font-size:8.0pt'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4-In consideration of further expansion opportunities for the Surda Mine, India Resources is currently in discussions with HCL regarding the Surda Decline Expansion project, which would involve the development of a modern decline development with portal access located between the two existing shafts to provide access to the large mining blocks below the existing levels.+ADw-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span style+AD0-'font-size:8.0pt'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4-Current production is limited only by existing shaft hoisting capacity and meets only 47+ACU- of the concentrator capacity. The Decline Expansion Project is subject to India Resources reaching+ADw-span style+AD0-'color: navy'+AD4- +ADw-/span+AD4-agreement with HCL to extend its Fixed Price Contract beyond 2020 and confirming a JORC-Code resource at depth below the existing mining blocks. +ADw-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span style+AD0-'font-size:8.0pt'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4-The Decline Expansion Project has the potential to increase long-term production at Surda to 900,000 tonnes per annum, delivering significant operational and cost benefits from the+ADw-span style+AD0-'color:navy'+AD4- +ADw-/span+AD4-utilisation of modern underground mining practices. +ADw-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4-+ADw-span style+AD0-'font-size:8.0pt'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-b+AD4APA-u+AD4-Safety+ADw-o:p+AD4APA-/o:p+AD4APA-/u+AD4APA-/b+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span style+AD0-'font-size:8.0pt'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4-With 850 workers on site at the Surda Mine, all aspects of the Company?s operations are underpinned by a core focus on safety. The Lost Time Injury Frequency Rate (LTIFR) for the 2008 financial year was 1.31 for the Surda Mine and 4.7 for the Mosaboni Plant ? compared with 5.7 for West Australian underground mines in 2006.+ADw-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span style+AD0-'font-size:8.0pt'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4-India Resources is an active contributor and participant in community programs and the Company?s activities have engendered strong community support. The ?India Resources? brand in +ADw-u1:place u2:st+AD0AIg-on+ACIAPgA8-u1:country-region u2:st+AD0AIg-on+ACIAPg-India+ADw-/u1:country-region+AD4APA-/u1:place+AD4- is becoming increasingly well known and respected within the Indian mining community. +ADw-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span style+AD0-'font-size:8.0pt'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-b+AD4APA-u+AD4-Outlook+ADw-o:p+AD4APA-/o:p+AD4APA-/u+AD4APA-/b+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-b+AD4APA-u+AD4APA-span style+AD0-'font-size:8.0pt'+AD4APA-o:p+AD4APA-span style+AD0-'text-decoration:none'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/o:p+AD4APA-/span+AD4APA-/u+AD4APA-/b+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4-India Resources? Board and Management remains focused on the Company?s core objective of building a profitable copper business, initially at the Surda Mine. ?We are confident that all the required elements are now in place to build up profitable copper production and grow shareholder value,? Mr Simpson said. +ADw-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span style+AD0-'font-size:8.0pt'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4-?With the exception of the indicated losses associated with the Monarch Gold loan, the expenditure undertaken during the year, including at the Surda Copper project and also in the successful exploration program, represents a very sound investment in the Company?s future,? he continued. +ADw-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span style+AD0-'font-size:8.0pt'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4-?The 2008 financial year was a start-up period for the Company during which substantial progress was made towards putting the right people, systems and processes in place to establish a successful and profitable Australian mining company operating in +ADw-u1:place u2:st+AD0AIg-on+ACIAPgA8-u1:country-region u2:st+AD0AIg-on+ACIAPg-India+ADw-/u1:country-region+AD4APA-/u1:place+AD4-,? he added. ?I am very pleased with the progress to date and I believe we are very well placed for the future.?+ADw-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-b+AD4APA-u+AD4APA-span style+AD0-'font-size:8.0pt'+AD4APA-o:p+AD4APA-span style+AD0-'text-decoration:none'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/o:p+AD4APA-/span+AD4APA-/u+AD4APA-/b+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span style+AD0-'color:black'+AD4-The Company has also taken the next steps towards expanding its production base in the Indian subcontinent. In this regard, India Resources has recently tendered for a potential second major Mine Development opportunity in +ADw-u1:country-region u2:st+AD0AIg-on+ACIAPg-India+ADw-/u1:country-region+AD4-, again through the HCL alliance ? the Khetri and Kolihan Mine, located near +ADw-u1:City u2:st+AD0AIg-on+ACIAPg-New Delhi+ADw-/u1:City+AD4- in northern +ADw-u1:place u2:st+AD0AIg-on+ACIAPgA8-u1:country-region u2:st+AD0AIg-on+ACIAPg-India+ADw-/u1:country-region+AD4APA-/u1:place+AD4-. +ADw-/span+AD4APA-span style+AD0-'font-size:10.0pt'+AD4APA-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span style+AD0-'font-size:8.0pt+ADs-color:black'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-span style+AD0-'color:black'+AD4-The outcome of this tender is expected to be announced in October/November 2008+ADs- if successful, it could deliver a significant additional production and earnings base for the Company.+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-img width+AD0-201 height+AD0-117 id+AD0AIgBf-x0000+AF8-i1025+ACI- src+AD0AIg-IMG/111042363+AF8-image002.jpg+ACI- border+AD0-0+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-b+AD4-ANDREW SIMPSON+ADw-o:p+AD4APA-/o:p+AD4APA-/b+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4-Chairman+ADw-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-i+AD4APA-span style+AD0-'font-size:9.0pt'+AD4AKg- All Dollar references in this release are to Australian Dollars unless otherwise specified.+ADw-/span+AD4APA-/i+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- text-align:justify'+AD4APA-b+AD4APA-span style+AD0-'color:black'+AD4-For more information contact:+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/b+AD4APA-/p+AD4- +ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs- 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