Cortona Resources Limited : Dargues Reef Update 06.06.2012

15 October 2010

ASX/Media Release - 6 June 2012

Dargues Reef Update: Further Key Permits Secured, Drilling set to Commence

• Dargues Reef Environmental Protection Licence issued

• Final three Management Plans approved

• Mine Operations Plan approved

• Drilling rig secured and scheduled to arrive this month to test a range of targets

Australian gold company Cortona Resources Limited (ASX: CRC) is pleased to provide an update on progress towards development of its 100%-owned Dargues Reef Gold Mine in NSW.
The Company has secured a range of additional permits and approvals required to develop and operate the mine site.
The Environmental Protection License (EPL) has been issued by the NSW Environment Protection Authority. The EPL "…authorises the carrying out of the scheduled activities…" and marks another key milestone in the approvals process.
The final two Dargues Reef Management Plans and the Environmental Management Strategy have also been approved, bringing the number of Management Plans for which Cortona has secured approval this year to 11.
The Dargues Reef Mine Operations Plan (MOP) has also been approved.
Cortona's Managing Director, Peter van der Borgh, said all key approvals were now in place to commence development at Dargues Reef, with only a couple of modifications outstanding.
"The modification to the operating permit at London Victoria, which will enable us to transport gold concentrate for treatment off-site, and the modification required to use paste-fill for the

COMPANY DETAILS Principal and Registered Office

Cortona Resources Limited Level 5, 72 Kings Park Road West Perth, WA 6005

Postal Address

PO Box 86, West Perth WA 6872

Website

www.cortonaresources.com.au

Email

[e-mail]

Phone

[phone]

Facsimile

[phone]

ABN: 98 117 848 790 ASX CODE: CRC Corporate Information

(31 May 2012)

Shareholders ~2,300

Shares on Issue 268M Options (Unlisted) 17M

PROJECTS Majors Creek (NSW) Eugowra (NSW) Christmas Gift (NSW) Booths Reward (NSW)

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underground mine at Dargues are the final outstanding permissions required, both of which are well advanced.
"It's been a big effort from the team to jump through countless hoops and never take our eyes off the prize," Mr van der Borgh said. "We are now entering the final straight towards development and, in what is likely to be a rising gold price environment our timing looks pretty good."
Cortona is also pleased to advise that it has secured a drilling rig to commence exploration drilling later this month. The program will test a range of prospects, including previously untested targets at Napoleon and Doubloon, providing an additional source of news flow for shareholders alongside project development activities.
Yours faithfully
Peter van der Borgh
Managing Director

For further information, please contact: Peter van der Borgh

Managing Director

[phone] or Nicholas Read

Read Corporate

[phone]

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