KRUCIBLE METALS LTD - Mineral Exploration Discovery Company, Mt Isa Queensland.

Krucible is an outstanding mineral discovery company with advanced phosphate prospects and exciting greenfields to frontier copper gold prospects!

We explore many prospective areas in the richly mineralised but covered terrane south of Mt Isa in Queensland Australia!

Krucible discovered high grade phosphate at Korella,immediately south of IPL's phosphate integrated phosphate mine and mill.

Korella's Inferred phosphate mineral resource of 5.0 million metric tonnes @ 30.8% P2O5 was announced in September 2009.

Krucible applied for a mining lease at Korella as a result of a positive Scoping Study. The Scoping Study has indicated an NPV of $83 million for the Project at a discounted hurdle rate of 15%. The proposed Mineral Resource Rent Tax in its present form WILL NOT AFFECT the profitability of Korella phosphate.

Mt Isa is also a globally significant mining region for copper, silver-lead-zinc, gold and molybdenum! Krucible discovered a new copper prospect at Pilgrim near Mt Isa in 2010.

In 2010, we discovered extensive copper mineralisation outcropping on Pilgrim EPM 15072 near Mt Isa. Surface assays include 36.2% Copper, 2.20g/t Gold, 25.1g/t Silver & 14.5g/t Tellurium. Scout drilling showed these values represent supergene enrichment, however modest copper in sulphides with iron oxide alteration indicates a deeper source for the main target. Deeper drilling will be based on geophysical conductors.

We are among the first to explore the Diamantina Orogen in the NW Simpson Desert & discovered copper, gold & bismuth in outcrops at Toomba! Drill results include 3 m @ 2.4% copper and minor gold

Our exploration under cover utilises deep sensing geophysics and geochemistry to detect blind orebodies.

Krucible has identified several more drill targets that could well be blind orebodies!

We continue to drill some of these in coming months!

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