• Silver Resource up 58 % to 20.2 Million ounces
  • Zinc up 60% to 104,000 tonnes
  • Gold up 66% to 78,000 ounces
  • Nimbus resources are i n addition to the 340,000 ozs of gold located at Boorara deposit 1km southwest of Nimbus
  • higher level of confidence with 83% of silver and 72% of zinc now in the measured and indicated resource categories
  • higher level of confidence with 74 % of gold now in the measured and indicated resource categories at Boorara
  • high grade silver – zinc lodes 1.22Mt @ 175g/t Ag & 3.5% Zn

Resources at the Nimbus depo s it have increas ed to 12.1 million tons at 52 g/t silver, 0.2g/t gold and 0.9% zinc containing 20.2 million ounces of silver, 78,000oz of gold and 104,000 tonnes of zinc.

This represents a 58 percent increase in silver, a 60 percent increase in zinc and a 66 percent increase in gold compared with the previous 2013 Mineral Resource Estimate Statement.

This includes a high – grade core silver – zinc lode comprising 1.2 million tons at 175g/t silver and 3.5% zinc containing 6.9Moz silver and 42,000 tons of zinc.

The expanded JORC Mineral Resource provided by Independent Consultants CSA Global has also delivered a higher level of confidence with 83 % of silver and 72% of zinc now in the measured and indica ted resource categories.

In addition to Nimbus , MacPhersons announced a 47% increase in the gold resource at Boorara to 340,000 ounces of gold located just 1km southwest of the Nimbus mine.

Independent Resource Consultants CSA Global have also delivered a higher level of confidence with 74% of the gold now in the measured and indicated resource categories at Boorara.

This is important because it increases MacPhersons’ confidence that the Nimbus tonnes will convert to mining inventory and further extend the forecast life of Nimbus.

As a result, there will be increased material available for both the Nimbus zinc – silver sulphide plant and for the heap leach portion of the overall Nimbus – Boorara project.

The cost of discovering these ounces has been just ~30c/oz of silver, which reflects the quality of the Nimbus deposit and the MacPhersons geology team.

The resources have been subdivided into silver – zinc, silver – only, silver – gold, gold – only and zinc – only lodes. Metallurgical testwork has been commenced on the individual lode types.

MacPhersons’ 100 per cent – owned Nimbus Project is located 10km east of Kalgoorlie’s Super Pit gold mine. Nimbus is located 1km north – east of the Company’s 100% owned Boorara gold project.

Both Nimbus and Boorara deposits boast outstanding exploration potential, with the mineralisation remaining open along strike and at depth .

"The Nimbus resource has continued to grow and we have identified new mineralisat ion lodes in the latest drilling campaign; we have commenced metallurgical testwork on these individual lode types." MacPhersons Managing Director Morrie Goodz said.

"The increased categorisation into Measured and Indicated Resources has increased our conf idence on the quality of the resource."