Gascoyne Gold Project Overview

The Gascoyne Gold Project includes the Hermes and Wilgeena gold deposits and the Central Bore gold prospect.

Hermes has an Indicated Resource of 2.79Mt @ 2.19 g/t Au (equivalent to 196,650 ounces of gold) and was acquired from Troy Resources NL in June 2008.

At Wilgeena, located 15 kilometres south of Hermes, RC and diamond drilling programs confirmed and extended existing zones of gold mineralisation, previously explored by Plutonic Operations Ltd in 1997. In July 2010, Alchemy estimated a maiden Indicated Resource of 659,480t @ 2.34g/t Au (equivalent to 49,536 ounces of gold) comprising three discrete mineralised zones.

Alchemy is committed to identifying a commercialisation strategy for these gold resources.