Summary  |  Oxide  |  Sulphide

Summary

Compass' base and specialty metal resource inventory is recorded as Global Resources and where appropriate is subdivided into oxidised and sulphide resources.

Oxide and Sulphide resources will be processed using different metallurgical circuits due to the differing mineralogy of the two resource types.

The results of the 2006 drilling programs have not been incorporated into the resource inventory, which will be updated upon completion of the ongoing drilling programs as part of future feasibility studies.

The resources given herein will be subject to the HNC joint venture (Compass 50%; HNC 50%).

Global Base and Specialty Metals Resources
	Mt	%Cu	%Pb	%Co	%Ni	g/t Ag
Browns
Measured	12.2	0.54	3.76	0.119	0.096	10.5
Indicated	10.1	0.34	4.77	0.111	0.093	13.8
Inferred	17.7	0.55	4.93	0.100	0.083	14.3
Total *1	40.0	0.49	4.53	0.109	0.090	13.0
Browns East
Inferred	30.5	1.29	1.28	0.13	0.13	11.0
Area 55
Indicated *2	12.2	0.49	0.56	0.14	0.14	N/A
Mt. Fitch
Indicated	1.3	0.60	N/A	0.21	0.20	N/A
Total	84.0	0.78	N/A	0.12	0.11	N/A
Contained Metals	K tonnes	658	2203	97	93

*1 Cut offs >0.5% Cu, 3% Pb or 0.10% Co (Hellman & Schofield)
*2 Cut off >0.5% Cu, <0.5% Cu >0.05% Co (Knox partners)

Oxide

The oxide resource inventory is comprised of weathered to semi-weathered mineralisation which is close to the surface.

Oxidised Copper Cobalt Nickel Resources
	Mt	%Cu	%Co	%Ni	Value A$/Tonne*5
Browns
Measured	2.20	1.06	0.12	0.10	135
Indicated	0.32	0.80	0.11	0.10	114
Inferred	0.12	0.81	0.09	0.09	105
Total *3	2.64	1.02	0.12	0.10	132
Area 55
Indicated *4	5.48	0.78	0.14	0.15	135
Mt Fitch
Indicated	1.3	0.60	0.21	0.20	161
Total	9.4	0.82	0.14	0.14	101
Contained Metals	K tonnes	77	13	13

*3 Cut off grades 0.5% Cu or 0.10% Co
*4 Cut off 0.3% Cu
*5 At Exchange Rate $0.70 and price per pound US$ 2.00 Cu, $12.00 Co, $6.50 Ni

Additional Lead Oxide Resource
	Mt	%Cu	%Pb	%Co	%Ni
Browns
Measured	0.58	0.15	4.48	0.04	0.04
Indicated	0.06	0.13	4.31	0.05	0.05
Inferred	0.07	0.05	3.38	0.02	0.03
Total	0.70	0.14	4.36	0.04	0.04

Cut off grade 3.0% Pb (outside area of copper resource above)

Sulphide

The sulphide resource inventory is comprised of fresh, unweathered material, which is found at depth relative to oxide resources.

Browns Sulphide Resource
Ore Type	Class	Mt	% Cu	% Pb	% Co	% Ni	g/t Ag
Cu/Co/Ni Sulphide
	Measured	3.4	0.96	2.40	0.145	0.118	11
	Indicated	2.8	0.82	2.40	0.134	0.113	11
	Inferred	8.1	1.03	3.49	0.120	0.096	14
	Total	14.4	0.97	3.02	0.129	0.105	13
Pb/Cu/Co Sulphide
	Measured	6.1	0.15	5.30	0.112	0.087	12
	Indicated	6.9	0.12	5.94	0.103	0.085	15
	Inferred	9.4	0.15	6.23	0.083	0.073	14
	Total	22.3	0.14	5.89	0.097	0.080	14
Total Sulphide		36.7	0.46	4.77	0.109	0.090	13

Note: *1 Cutoffs >0.1%Co or >0.5%cu or >3.0%Pb