Mincor Resources NL  is pleased to advise that field exploration activities are about to commence at the Company’s Bolobip copper-gold porphyry target in Papua New Guinea (MCR earning 72%). Ground preparations are complete and an exploration camp has been constructed. Field exploration activities will be supplemented by airborne and ground geophysics (Induced Polarisation (IP) surveys and heli-borne magnetics). This stage of exploration is targeted for completion by the end of June 2013. Bolobip is a large coincident copper-gold anomaly in a multi-phase intrusive environment, located some 60km east of the world-class Ok Tedi deposit. Initial studies have suggested that it has affinities to porphyry-style mineralisation with similarities to Ok Tedi. The geochemical anomaly is approximately one kilometre in diameter and has never been drilled. The initial geochemical sampling work was completed by CRA in the late 1980s and early 1990s, with no substantial follow-up since then.

Mincor’s intention is to confirm the porphyry characterisation of the target through field mapping and alteration studies, and to generate drill targets through the use of IP (which is capable of identifying disseminated sulphide mineralisation) and a magnetic survey. Any targets identified would be ready for drilling either late in the current financial year or early in the new financial year. At Edie Creek (Mincor earning 51%), located in the Morobe goldfields of PNG, Mincor has completed a comprehensive exploration program, including blanket soil sampling and ground magnetics, detailed mapping, trenching and sampling, and a 12-hole diamond drilling program. All assay results have now been received (see attached). Mincor’s work has clearly demonstrated the presence of an epithermal and mesothermal gold system at Edie Creek. However, the Company’s interpretation is that this system is widely dispersed, and likely to have generated numerous small gold deposits rather than a single, viable ore deposit. Therefore, while potential remains, the rewards no longer justify the costs and Mincor has elected to cease expenditure on the project.