Magnus Copper Project Overview

The Magnus Copper Project comprises approximately 25 kilometres of prospective stratigraphy in the Bryah Basin region, host of Sandfire Resources’ DeGrussa copper-gold discovery.

The Magnus Copper Project is part way through evaluation and drill testing of conductors identified by an airborne VTEM survey and gold/copper-in-soil anomalies associated with prospective areas identified by geological field mapping. Initial RC drilling programs commenced in April 2010, with follow-up programs in August and November 2010, a total of 42 RC holes were drilled in 2010.

Alchemy continues to devote significant expenditure to exploration programs at Magnus and will continue its evaluation in 2011.