Prairie Downs Metals Limited has made a spectacular copper discovery at its namesake project at Prairie Downs. 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.

A detailed mapping program commenced in March at the Prairie Downs project to provide geotechnical data for completion of the Bankable Feasibility Study and to better understand the geology. Detailed mapping at a scale of 1:500 was first completed at the Main Lode zinc resource (295,000t zinc and 83,000t lead) and the team then moved to the Costean Seven (or "C7") prospect, 3.2 kilometres west of Main Lode and site of a previously announced lead discovery.

Channel samples returned the following results:

All channel samples are composites of up to several hundred analyses using a Niton XL3T handheld XRF machine. Rock chip samples are reported where outcrop or subcrop is inadequate to allow reliable channel sampling. These have also returned some exceptional results. Details of all results and their locations are shown on the attached map.

The copper mineralisation at Costean Seven occurs as bornite and chalcopyrite, along with the secondary copper mineral, malachite. It is extremely significant that primary copper mineralisation is being found at the surface and suggests that comparable grades may extend to depth.

The Company has previously reported copper results at Prairie Downs in the footwall to Main Lode. PDD196 intersected 3.4 metres at 2.8% copper, 12.2g/t silver, including 0.9 metres at 6.4% copper, 28.2g/t silver. Nineteen holes have intersected copper at greater than 0.5%, indicating that copper mineralisation may continue between Costean Seven and Main Lode.

The copper and lead mineralisation is hosted by a silicified volcanic breccia that has a surface width of 55 metres. It tends to be lead rich near the base where it is in contact with a rift structure and more copper rich through the rest of the unit. It should be stressed that to date all outcrops of this unit are mineralised in copper and/or lead.

The silicified breccia is overlain by a 35 metre wide carbonatised volcaniclastic unit. This unit is consistently mineralised in zinc, with an average grade of 4.3% zinc over 83 samples.

A barite cap overlies the 90 metre wide mineralised zone. This appears to have acted as a "seal" rock and is commonly associated with major base metal deposits. It is also significant that alteration is extensive and intense, largely comprising silica and carbonate replacement of pre-existing minerals.

The continuing geological mapping program at Prairie Downs has been very successful to date. Strike extensions are now being investigated and the Company is confident of further discoveries. Drilling will commence as soon as a suitable rig becomes available. Copper is now a priority target.

Finally, on behalf of shareholders, I would like to offer sincere thanks to our geological team for some excellent geological work that has started to reveal the true potential of the Prairie Downs project.