Company Information for Gunson Resources Ltd

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Company Statement

Gunson Resources Limited was formed in 2000 to explore for and develop mineral deposits in Australia. It is currently searching for mineral sands, copper-gold-uranium and nickel sulphides in Western Australia, South Australia and the Northern Territory.

The Company’s most advanced property is the Coburn zircon project in Western Australia, discovered by Gunson in 2000. Coburn has government permits for mining, a near-complete definitive feasibility study and subject to financing by mid 2007, the Company plans to bring the 20 year Coburn mine into production in mid 2008 to produce 2.5% of the world’s zircon, 3.5% of the world’s chloride ilmenite and 7.5% of the world’s HiTi (85% Ti02).

Current Operations

Coburn Project

• Drilling since 2000 has outlined a major heavy mineral sand deposit known as Amy Zone (Figure 2) which is over 35 kilometres long, up to 3 kilometres wide and between 10-50 metres thick.
• Gunson completed a bankable feasibility study in December 2004 showing that Amy Zone can support a high volume, low cost, long life mining operation producing quality mineral products.  It is currently the world's third largest zircon development project.
• Mine development cannot proceed until environmental, planning and then mining approvals have been granted. 
• In May 2006, the Western Australian Environment Minister granted approval for the proposed mine, subject to EPA approval of 15 environmental management plans.  Approval of these plans, now consolidated to 10, is expected in February 2007.
• In the meantime, a definitive feasibility study is nearing completion, timed for public release to coincide with the mining approvals in March 2007.

Mount Gunson

• In late 2005, the first of a 2 hole drilling program at Chianti Prospect intersected very encouraging copper mineralisation in basement hematite-rich granite breccias, including 2 metres at 3.4% from 549 m.
• In mid 2006, the Company announced an agreement with Noranda Pacific Pty Ltd, giving Noranda the right to earn 75% of the Project by spending $10M in 6 years.  A 3,000 metre drilling program funded by Noranda Pacific is scheduled to begin in Janaury 2007

Tennant Creek

• Gunson’s tenements and tenement applications cover weak magnetic anomalies with associated gravity responses in favourable geological settings, where little or no previous exploration has been carried out. The targets on these areas can be tested quickly and cheaply with ground geophysics and shallow geochemical drilling.
• The agreement with BHP Billiton allows Gunson non-exclusive access to its Australian mineral exploration database. In return, BHP Billiton has the exclusive right to farm in to the Tennant Creek project until Gunson has spent over $100,000 or defined a drill target on the Project. Thereafter, Gunson may farm out the Project to other parties if BHP Billiton declines to participate.<//strong>

Geographical Spread

Western Australia, South Australia and the Northern Territory.

Board of Directors and Key Management

Chairman (non executive) William Cunningham

Bill Cunningham is a consultant in mineral commodities marketing, with over 40 years experience in the mining industry, mainly with WMC Resources Limited and CRA Limited. Prior to leaving WMC in 1997, he was manager for that company?s Nickel Division intermediate products marketing. Since 1997, he has managed his own mineral marketing consultancy.

Managing Director, David Harley

David Harley is a geologist with over 35 years experience in the mining industry, mostly in senior exploration management positions with WMC Resources Limited. He is the immediate past President of the Association of Mining and Exploration Companies, AMEC, a position he held for 5 years until June 2005 and was Chairman of Gallery Gold Ltd for 5 years until November 2003.

Non Executive Director, Peter Harley

Peter Harley is an experienced manager and director with over 25 years association with a number of public and private companies. Peter is Chairman of iiNet Ltd and a non-executive director of Perilya Ltd.

Company Address Level 2 33 Richardson Street Perth, Australia 6005 Telephone: (618) 9226 3130 Facsimile: (618) 9226 3136 Email: enquiries[at]gunson.com.au Website: http://www.gunson.com.au

Annual General Meeting November

Year End June 30

Broker/Analyst Reports

01/01/70 - FW Holst, January 2007

Related News

01/09/08 - Gunson Benefits From Delayed Approvals As The Zircon Price Soars
07/11/07 - Gunson Has More Than One String To Its Bow
28/04/07 - Gunson Resources On Verge Of Crucial Deals With Chinese

Most Recent Statement

06/10/08 - Coburn Zircon Project - Status of Chinese Negotiations
24/09/08 - Drilling Results - Mount Gunson Copper Project
06/08/08 - CTIEC`s Fixed Price Turnkey Proposal
31/07/08 - Quarterly Reports
14/07/08 - MOUNT GUNSON MG14 COPPER DEPOSIT FEASIBILITY STUDY
04/07/08 - New Nickel Sulphide Targets Defined at Fowler`s Bay