Jabiru Metals Limited (JML) –Bringing Jaguarinto Production at ~30,000tpa Zinc & Establishing Two Additional Zinc Mining Operations by 2010

• Jabiru was founded on the Jaguar VMS (volcanogenic massive sulphide) orebody located about 55km north of Leonora in WA, which according to ERA assumptions with Teutonic Bore, could produce ~40,000tpa Zinc (Zn) and ~15,000tpa Copper (Cu) per year at C1 cash costs of (minus)US$ - 0.25/lb Zn (after by-product credits).
• There is significant potential for the Jaguar/Teutonic Bore ~3mt massive sulphide field to be increased, based on comparisons to other fields such as Golden Grove at 44mt and Rosebery, now at 38mt, which have multiple lodes in clusters and depth extensions. Jabiru’s orebodies could extend on strike or have others within the 4km distance between them as the historic exploration was only based on 600m centres from the original Teutonic Bore mine, and the current orebodies have ~300m strike footprints based on relatively shallow depths.
• Jaguar was designed on the basis of a 5-year mine life, which appears to easily be capable of being achieved. Aside from extensions to the orebody on strike and at depth, Teutonic Bore exhibits the potential to be re-opened possibly as a mixture of an open-cut cut-back and underground stoping, by the first half of 2009.
• JML recently won the tender for the Benambra VMS orebody in Victoria, with a possible 8-year life @ 1mtpa and production of ~30,000tpa Zn & ~14,000tpa Cu (based on a preliminary scoping study), and expects to soon start drilling and complete a BFS by late 2008/early 2009 for production by mid-2010.