Company Information for Gippsland Ltd

AIM-GIP; ASX-GIP

www.gippslandltd.com

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AIM; GIP

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Company Statement

Gippsland Limited is an Australian based international resource company listed on the Australian Stock Exchange and the London Stock Exchange's Alternative Investment Market (AIM) where it trades under the codes "GIP" (Shares) and "GIPO" (Options).
Gippsland is managed by Directors who provide a complimentary blend of technical and commercial skills, and having a long history in the successful running of technically complex private and ASX listed companies.

Because of the Directors' international experience, Gippsland focuses on world-scale projects which have been over-looked by major resource groups. Projects which have undergone detailed exploration and which have the potential to be brought into production quickly are a prime target for the Company. Gippsland's success in this area is due in part to the Company's philosophy of entering into equitable joint venture arrangements with overseas nationals.

The Company's prime assets are the 40 million tonne Abu Dabbab and the 98 million tonne Nuweibi tantalum-tin projects located in the Central Eastern Desert of Egypt, adjacent to the western shore of the Red Sea. A bankable feasibility Study undertaken by Lycopodium Pty Ltd determined that the Abu Dabbab project has the potential to become a major tantalum supplier to the steadily expanding global tantalum industry. The Environmental Impact Assessment (EIA) undertaken to comply with World Bank standards was approved by the Egyptian Environmental Affairs Agency in October 2005. The company is presently negotiating Abu Dabbab project finance with a major international bank.

The Company’s recent gold exploration of the Wadi Allaqi area located to the south-east of Aswan in Egypt has yielded highly encouraging results. Initial trench sampling has delineated high-grade gold mineralisation in places up to 50 metres wide and in excess of 250 metres long. The Company is preparing to drill a number of such targets which are expected to yield similar high gold values”.

Current Operations

Abu Dabbab - Tantalum-Tin-Feldspar (50% Gippsland)
The Abu Dabbab tantalum-tin-feldspar deposit is located within the Central Eastern Desert in Egypt. The deposit is located about 16km inland from the western shore of the Red Sea. The deposit is covered by two Exploitation Leases (1658 & 1659) granted in the name of Tantalum Egypt JSC, a company incorporated in Egypt and owned 50% by the Egyptian Government via the Egyptian Mineral Resources Authority (EMRA) and 50% by Tantalum International Pty Ltd which is a 100% owned subsidiary of Gippsland Ltd. The proposed plant site located 6km from the Red Sea coast has been secured under Ministerial Decree No. 11/2003 and provides for an area of 14km².

Nuweibi – Tantalum, Niobium, Feldspar (Gippsland 50%)
The nearby Abu Dabbab has adequate resources for at least a decade of mining such that immediate exploration is not warranted. Exploration will in time focus on infill drilling to upgrade the resource categories. This will involve the completion of a series of lines of RC drilling to 150m.

Wadi Allaqi
Gippsland has the right to explore nine tenement areas located in the Wadi Allaqi region of South-eastern Egypt. Eight of the areas contain historical gold workings with the ninth containing a copper-nickel deposit

The Wadi Allaqi region is located to the southeast of Aswan in the south-western part of the Eastern Desert of Egypt covering an area of about 12,000km2. The area, which is bounded to the west by Lake Nasser and to the east by the Red Sea is accessible via an asphalt road from Aswan located to the northwest. Elsewhere access is available by 4-wheel drive vehicles along the wadis.

Egypt has a long history of gold mining with the earliest references to gold mining in the pre-4,000 BC period. It is estimated that up to 3,000t of gold could have been mined by the Pharaohs from lands held under their control. Within the Wadi Allaqi region the earliest reference to mining is the Twelfth Dynasty of the Middle Kingdom (1991-1786 BC) when the area was known as the region of Akita in the Land of Wawat. Mining probably continued in episodes during the Pharaonic period. Further mining took place during the Roman era from 181 BC to 5 AD and then again during Islamic times from the ninth century up until the fourteenth century. In the early 1900s the area was explored and mined by British and South African companies, principally the Nile Valley Company Ltd at Um Garayat and Haimur, through to the 1920s. Some small time mining continued through to the early 1950s.

The ancient historical mining was focused entirely on the near-surface high grade quartz veins and alluvial gold. Evidence of the historical mining activity is clearly seen in stoped out quartz veins at shallow depths by means of shafts and adits and the presence of numerous stone tools used in crushing the gold ore. Waste dumps and tailing are present at a number of these deposits indicating that they were sites of significant mining activity by the ancients.

Apart from limited regional exploration during the 1960s and 70s under the auspices of the United Nations there has been no significant exploration or mining since the early 1950s when Egypt became a republic.

ZEEHAN – Tin (Gippsland 40%)
The Zeehan tin (Sn) deposit is located within a major tin province in the northwest of Tasmania approximately 15km from the large Renison tin deposit. Tin mineralization occurs as cassiterite and stannite in four deposits; Queen Hill, Severn, Montana and Golf Course.

Past drilling totalling 23,000m has established the presence of a substantial tin resource. The Severn deposit, the largest of the four, is located approximately 120m below the surface and is considered to be open at depth. To a depth of 500m below surface, the inferred resources include 5.1Mt at 0.6% Sn within the 1% mineralised envelope. At Queen Hill the mineralization outcrops on a hill approximately 300m due west of the Severn deposit and contains indicated resources of 1.8Mt at 0.82% Sn. The mineralisation includes minor amounts of copper, lead, zinc and silver.

Geographical Spread

Egypt - tantalum, tin, feldspar, copper & gold

Australia - tin deposit located at Zeehan on Tasmanian west coast near Renison tin mine

Board of Directors and Key Management

Mr Robert John Telford	(Managing Director, Executive Chairman)
Dr John M Chisholm	(Executive Director)
Mr Jon Starink	(Executive Director)
Mr John S Dunlop	(Non Exec. Director)
Mr John D Kenny	(Non Exec. Director)
Mr Paul Sims	(CFO)

Company Address

Suite 4
207 Stirling Highway
Claremont
Perth, Western Australia, Australia 6010


Telephone:	+61.8.93406000
Facsimile:	+61.8.93406060
Email:	info[at]gippslandltd.com
Website:	http://www.gippslandltd.com

Additional Address/Key Contact

PO Box 352
Nedlands WA 6909
Australia

Capital

160,528,359 shares

Annual General Meeting

November

Year End

30 June

Nominated Brokers

Hoodless Brennan & Partners plc
Fox Davies Capital

Nominated Advisors

Grant Thornton Corporate Finance
Grant Thornton House
Melton Street, Euston Square
London NW1 2EP
United Kingdom

Broker/Analyst Reports

15/01/08 - Fox Davies Capital
10/01/08 - Hoodless Brennan & Partners plc

Most Recent Statement

01/09/08 - ABU DABBAB TANTALUM-TIN PROJECT
25/07/08 - Quarterly Activities Report
25/07/08 - Quarterly Financial Report
25/07/08 - Heemskirk Tin Project Transaction
14/07/08 - Abu Dabbab - Resource Increase and Upgrade
27/06/08 - APPOINTMENT - SENIOR PROJECT COORDINATOR

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