CORTONA RESOURCES LIMITED 
By 2nd September 2011: ASX/Media Release
Cortona Enters MOU with DRA Pacific for Construction of Dargues Reef Processing PlantHIGHLIGHTS? Lump sum contract, throughput guaranteed
COMPANY DETAILS
? Work
on long-lead items anddesign to commenceimmediately? Final agreement to be entered into once development is fully funded
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
Emerging
NSW-focused gold company Cortona Resources LimitedWebsite
www.cortonaresources.com.au
(ASX:CRC) is pleased to advise that it has entered into an MOU with DRA Pacific Pty Ltd to construct the processing facility at its 100%owned Dargues Reef Gold Project located near Canberra in NSW.
admin@cortonaresources.com.auPhone
Cortona is developing an initial 50,000oz
per annum gold mine at(08) 9485 0577
Dargues Reef, for which it is awaiting final environmental approvals.
DRA Pacific Pty Ltd is a subsidiary of DRA Group, a leading globalFacsimile
(08) 9485 0706
project
management and plant construction group which hasABN: 98 117 848 790
completed over 100 mining projects worldwide.
ASX CODE: CRC, CRCO
The lump
sum contract will cap the cost of the works, with a bonusCorporate Information
scheme attaching to early delivery. The agreement includes a
throughput guarantee for the 330,000tpa plant. The Dargues Reef processing facility comprises a crusher, ball mills,(30 June 2011)
Shareholders ~2,000
Shares on Issue 196M Options (CRCO) 34M
gravity circuits, and
flotation cells for the production of a high-gradeOptions (Unlisted) 16M
gold concentrate and a gravity product. The plant is designed for +95%
recovery with about 50% of the gold reporting to the gravity circuit The concentrate will be trucked to the London Victoria gold mine near Parkes (~400km away), where Cortona will further treat thePROJECTS
Majors Creek (NSW) Eugowra (NSW)
concentrate to produce gold dor
. First production is targeted for 2012.Christmas Gift (NSW)
Booths Reward (NSW)
The MOU with DRA Pacific follows a number of positive developments
for Cortona in recent months, including a mining alliance with underground mining contractor GBF Mining Services, who recently took a $1m placement in the Company. Deutsche Bank has been mandated for a debt facility up to $37M, and Cortona has entered into a license agreement to operate the London Victoria processing plant for treatment of the Dargues Reef gold concentrate. Cortona?s Managing Director Peter van der Borgh commented ?We?re delighted to have secured a respected and experienced international group like DRA Pacific for the construction of the Dargues processing plant. ?We now have all the key contractors in place for construction, mining and processing, clearing the way for project development to proceed. ?The total capital and operating costs of these arrangements combined is within 10% of the DFS cost model which was completed almost 12 months ago. This is an excellent outcome given that the devil is often in the detail, and even more so in the current environment of rising costs for new resource projects,? Mr van der Borgh said. ?Value engineering is currently underway to identify further savings that may be achievable prior to construction commencing.? Yours faithfully Peter van der Borgh Managing DirectorABOUT DRA PACIFICDRA Pacific Pty Ltd (DRAP) are mineral processing and control engineers with Aust ralian offices in Brisbane and Perth. DRAP is part of the DRA Group which has completed over 100 processing plants across a range of commodities since starting operations in 1984.
ABOUT CORTONACortona is an emerging Australian gold company which is focussed on the develop ment of its 100%-owned
Majors Creek Project, located 60km east of Canberra in New South Wales.
Majors Creek was the largest historic goldfield in NSW, producing more than 1 .25 million ounces. The Dargues Reef deposit is expected to be the Company?s first operating mine following the positive Feasibility Study results which show strong cash flows from average annual production of 50,0 00 ounces over an initial mine life of 6 years.
Cortona?s multi-pronged plan is to progress Dargues Reef to production in conjuncti on with aggressive near- mine and regional exploration programs to underpin a long-term gold production bus iness.
