 
Bass Metals is in production
The Company’s production hub is the 100% owned Que River base metals project, mined in alliance with Mancala Pty Ltd. Stage 1 production at Que River commenced in September 2007, comprising ore extraction from two open pits for a total resource inventory of 115,900 tonnes grading 8.3% zinc, 4.0% lead, 0.7% copper, 105g/t silver and 2.3g/t gold - 77% of which is classified as JORC-compliant Ore Reserves and 13% as Inferred Resources.
Que River ore is processed at the nearby Rosebery Plant under a binding Ore Sales & Purchase Agreement with the plant’s owner/operator, Zinifex Limited. To the end of February 2008, the Que River mine has generated estimated revenue of $4.26 million for Bass Metals, which will help to fund ongoing exploration and development activities.
Substantial polymetallic resource base
In addition to the current resources and reserve base, significant potential also exists to further extend the Que River operation by converting the current Mineral Resource totalling 740,000 tonnes to Ore Reserves and extracting additional high-grade ore within the current pit design, consistent with the current positive reconciliation trends.
In parallel to mining at Que River, Bass Metals is also conducting an aggressive exploration programme aimed at expanding the Company’s resource base to underpin a larger scale mining operation.
A key focus for Bass Metals’ exploration activities has been the high grade polymetallic (zinc-lead-copper-silver-gold) targets surrounding the world class Hellyer Mine in northwest Tasmania, which has a published pre-mining Mineral Resource of 16.9 million tonnes grading 13.8% zinc, 7.2% lead, 0.4% copper, 167g/t silver and 2.5g/t gold.
Fast track towards expanded, long term production
Bass Metals announced a maiden mineral resource estimate for the Hellyer Mine Project in October of 750,000 tonnes grading 11% lead and zinc. Not included in this initial resource estimate is the adjacent Fossey Zone (formerly known as the Southern Barite Zone), which has returned spectacular drill intercepts including 57m at 14% combined zinc-lead . Recent drilling programmes have confirmed the Fossey Zone as a major exploration target for Bass Metals, with the Company now evaluating options to fast-track the resource drill out, and mining, environmental and metallurgical studies now underway. An initial resource estimate for the Fossey Zone is targeted for the second half of 2008.
Across the Que River and Hellyer Mine Project areas, Bass Metals now has a combined Mineral Resource inventory of 1.5 million tonnes at a zinc equivalent grade of 15%, providing the Company with outstanding growth potential.
Significant gold resource
Reflecting the intense and diverse ore deposits occurring in the north west of Tasmania, the Company also has the Mt Charter gold-silver project, which has an initial resource of 380,000 gold equivalent ounces with several other drill indicated gold targets on its large tenement holding.
In light of the strong gold price, Bass Metals will increase exploration activities at its gold projects, with further drilling and evaluation work planned.
Bass Metals is also undertaking nickel and Platinum Group Elements (PGM) exploration on its Heazlewood tenement which has small scale historic nickel and PGM workings. A geophysical survey is currently planned to define drill targets in this region.
Track record of meeting goals and success
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