A revised resource estimate is being calculated for Marengo Mining’s Yandera Copper Molybdenum Project in Papua New Guinea following completion of a diamond drilling program.

A total of 24 diamond drill holes were completed for 9286 metres with the objective of further defining and extending the Gremi and Omora sections of the Yandera Central Porphyry System. The objectives were largely met and drilling continues to define broad zones of copper and molybdenum mineralization within the proposed starter pit.

Results included 300 metres @ 0.57% copper equivalent, including 48m @ 1.06% copper; 263m @ 0.42% copper equivalent, including 21m @ 0.97% copper; and 222m @ 0.51% copper equivalent, including 75m @ 0.52% copper.

Significant gold and silver assays continue to be received but have not been included in the calculation for copper equivalent.

Marengo is continuing with the ore definition and geotechnical work in the proposed starter pit area and will also start exploration drilling towards the Karisokera area, south of Omora, where rock chip and float samples produced assays of up to 12.1% copper, 0.83% molybdenum, 19.1 grams/tonne gold and 271 grams/tonne silver.

Drilling has resumed with three diamond rigs and a further 3 rigs will be mobilized shortly. Additional rigs mainly for geotechnical investigations will also be required during the year.

Although the Yandera Central Porphyry and satellite exploration targets remain the central focus, reconnaissance work will be increased along strike to the north-west, into areas that have had very little previous exploration.

Marengo now has nine geologists involved in the Yandera Project while the base camp continues to be enlarged and upgraded to accommodate the geological team and personnel involved in preparation of the Definitive Feasibility Study (DFS).

Phase 1 of the DFS is underway with a focus on refined options for processing plant location, concentrate transportation methodology and port load-out facilities. With the DFS planned for completion by mid 2009, Yandera has the potential to become a significant strategic supplier of copper and molybdenum to world markets over many years.

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