Listed on the Australian Stock Exchange (ASX:PDZ) and based in Perth, Prairie Downs Metals Limited is exploring and developing high grade copper, zinc and lead deposits at the Prairie Downs Project in Western Australia.

Prairie Downs Metals' corporate objectives for 2008 are to complete the Bankable Feasibility Study now underway to finance and develop a copper/lead/zinc/silver mine at Prairie Downs; evaluate alternatives for development given the expected increase in total resources and the expected addition of copper; and to continue the 20,000 metre drill program to test extensions to the existing resources and new copper discoveries.

The total Global Resource in three lodes is 4.7 million tonnes at a grade of 6.3% zinc, 1.8% lead and 18g/t silver at a nominal lower cut of 1% zinc. This resource contains 295,000 tonnes of zinc, 83,000 tonnes of lead and 2.6 million ounces of silver. The global resource includes a High Grade Resource of 1.6 million tonnes at a grade of 12.3% zinc, 3.7% lead and 36g/t silver. At 1 March 2008 (LME 3mo prices) the Global Resource had an in situ value of USD1.14 billion.

Prairie Downs Metals Limited has made a spectacular copper discovery at the Prairie Downs Project. Results include a channel sample over a seven metre width averaging 5.6% copper and 0.9% lead from nearly 300 samples. The high grade, coupled with projections for a continued high copper price, makes this a very exciting discovery for the Company.

This discovery of copper mineralisation at surface has resulted in an increased focus on exploration. While this will of necessity delay project development it is also expected to increase project value, facilitate more effective financing, and reduce project risk.

The Prairie Downs Zinc project has a number of competitive advantages, the most important being the high metal grades, shallow mineralisation and excellent resource upside. The high grades will mimimise the capital payback period and lessen the impact of a lower zinc price while maximising revenue from a higher price. The fact mineralisation commences at the surface will help minimise both capital and operating costs and the resource upside should readily ensure that expansion plans can be implemented and mine life extended beyond 10 years.

Copper will be the priority going forward as it reduces the Company's dependence upon a single commodity and thus effectively provides a hedge against zinc prices and vice versa. In addition, the copper mineralisation occurs at surface and therefore any copper resources that are defined are likely to be amenable to open cut mining. This would be an important benefit to project economics.