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28th December 2007
Cluff acquires drilling rig

The Company has acquired and reconditioned its own drilling rig, in order to enable a continuous flow of results from its highly prospective tin and gold properties. The work of reconditioning this valuable asset has been completed intermittently over several months at minimal cost by the Company’s maintenance and operations management personnel, who will also be operating the rig.

The rig has been successfully utilised for wire line diamond drilling and open hole rotary drilling during the last week at the Company’s recently granted tenement over the former Leviathan Tin Mine, several kilometres southwest of Inverell. It is being used to complete an diamond core hole through the interpreted down dip extension of the Leviathan Lode to a depth of 90 metres.To date it has reached a depth of 65.2 metres with excellent core recovery. Additional drilling rods have been ordered, to allow drilling of deeper holes to depths in excess of 500 metres.

The Company’s acquisition and operation of this drilling rig aims at ensuring that a continuous exploration drilling program will be carried out on the Company’s tin and gold tenements throughout the coming year, and onwards.

It is our intention to also employ contract drilling rigs more suitable for specific jobs, in addition to our own operation.

Peter Kennewell,
MANAGING DIRECTOR


29th August 2007
Cluff acquires hard rock rights to Ardlethan Tin Mine

• Hard rock exploration and mining rights secured at the world class Ardlethan Mine.
• The Ardlethan Tin Mine produced in excess of 31,500 tonnes of metallic tin.
• Previously reported inferred resources exceed 3 million tonnes at 0.42% tin.


The hard rock tin resources of the Ardlethan Tin Mine have been secured by Cluff Resources Pacific NL under an Agreement with Australian Tin Resources Pty Ltd (“ATR”). Cluff plans to explore the tenements to determine if there are any economic mineral resources available for further mining processing and development.

The Ardlethan Tin Mine produced in excess of 31,500 tonnes of metallic tin during the period 1912 to 2004. It is located in southern NSW, and from 1961 to 1986 was owned and operated by Aberfoyle Tin NL. Tin produced from these leases to date would be valued at $A550 million dollars at current prices.

The leases include the Godfrey and Keogh tin deposits, which are deep unmined bodies.


Wild Cherry Open Pit, Ardlethan Tin Mine

The Godfrey tin deposit has an inferred resource of 2.8 million tonnes at 0.42% tin in at least three separate lenses, and lies beneath the previously mined out Carparthia and Stackpool tin deposits.

The Keogh tin deposit has an inferred resource of 225,000 tonnes at a grade of 0.42% tin and 0.08% copper. It occurs below and to the north of the Wild Cherry South tin deposit, between 200 and 300 metres depth, and is on the hanging wall of the main alteration pipe.

These resources are reported in a paper titled “Ardlethan Tin Deposits” by Patterson (1990) published by the AusIMM (see reference). The report states “a resource is inferred” with regard to the Godfrey deposit, and “the geological resource is estimated to be…” at Keogh.

The tenements over which Cluff has been assigned these exploration and mining rights are plotted on the air photograph below, which indicates the very extensive nature of the previous mining operations, which employed up to 400 people.


Ardlethan tenements, also showing locations of former workings

The material elements of the agreement with ATR are:

• ATR has acquired ownership of the Ardlethan mining tenements shown above by purchasing all issued shares in EOE (No 75) Pty Ltd (“EOE”), the owner of the mining tenements, from Telminex NL (subject to deed of company arrangement) (“Telminex”).

• ATR has retained the rights to process tailings, surface waste dumps and near surface resources. It has assigned to Cluff the rights to carry out hard rock exploration and possible hard rock mining and processing on the tenements.

• The consideration has no impact on Cluff’s current or future cash or shareholder (equity) position.

• Cluff and ATR have different but complementary priorities in relation to their Heads of Agreement. ATR is only interested in the tailings operation on the tenements, which would include processing tailings, surface waste dumps, and near surface resources. This would be on a small scale and would not interfere with Cluff’s exploration and mining ambitions. Cluff is principally interested in examining the potential upon the tenements to commence further mining operations. It is not interested in undertaking tailings operations.

• The parties recognise that each has a different priority in relation to the acquisition of EOE, and that these different objectives can be accommodated by agreement.
• Cluff acknowledges that ATR intends using water in the existing large open pit in its tailings processing operations.

• The Tenements contain a number of old workings including a substantial pit, and environmental and restoration issues and obligations. These obligations will fall on the party responsible for the tenements, which will remain registered to EOE and owned by ATR.

• Cluff will restore those parts of the operation which are the subject of its operations.

Cluff has spent considerable time in acquisition of technical data regarding these Ardlethan tenements, and is currently preparing an evaluation plan and drilling program for the Tenements and surrounding exploration licences.

Cluff has recently purchased the adjoining Exploration Licence 4818 and Mining Lease Applications MLA 233 and MLA 234 from Telminex for 1,200,000 ordinary fully paid shares in Cluff Resources Pacific NL. These tenements, together with Cluff’s previously lodged Exploration Licence Application 3035, surround these Mining Tenements over which the hard rock rights have been assigned by ATR, and give Cluff control of the whole of the hard rock potential of the Ardlethan Tin Field. This field extends over approximately 200 square kilometres, and has produced in the past at up to 7,000 tonnes of tin metal per year.

The acquisition of such promising and highly prospective exploration and mining rights over areas demonstrated in the past to contain world class tin deposits leaves Cluff with a strong focus for its future resource development.

Reference
Paterson, R.G., 1990. Ardlethan Tin Deposits, in Geology of the Mineral Deposits of Australia and Papua New Guinea (Ed. F. E. Hughes), pp 1357 – 1364 (The Australasian Institute of Mining and Metallurgy: Melbourne).

The information in this report that relates to exploration results and mineral resources is based on information compiled by Peter John Kennewell, who is a corporate member of the Australasian Institute of Mining and Metallurgy included in a list promulgated by the ASX from time to time. Peter John Kennewell is a full time employee of Cluff Resources Pacific NL and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Identified Mineral Resources, and Ore Reserves”. Peter John Kennewell consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Peter Kennewell,
MANAGING DIRECTOR

20th August 2007
Cluff purchases highly prospective former tin mines

The Little Bygoo, Big Bygoo, Taylors Hill and Bald Hill former tin mines have been purchased with the aim of exploring their potential for new mine development in the light of recent rises in the tin price.

They are located within Exploration Licence 4818 and Mining Lease Applications MLA 233 and MLA 234, which immediately surround the former production leases of the Ardlethan Tin Mine. These tenements were purchased from Telminex NL (subject to Deed of Company Arrangement) by NSW Tin Pty Ltd, (a wholly owned Cluff subsidiary). The consideration was 1,200,000 fully paid ordinary shares in Cluff Resources Pacific NL.

The locations of the tenements purchased, and of former tin mines present on them, are shown on the figure below.



A substantial modern exploration program for tin was carried out over these mines by Ardlethan Tin Limited between 1973 and 1983, including rotary and percussion drilling, extensive bedrock and alluvial tin geochemistry and mapping. This confirmed a broad linear tin anomaly trending north northwest from the main Ardlethan pit area. A number of greisen bodies were located south of the mine, with associated anomalous bedrock geochemistry.

The Little Bygoo Mines were worked initially in 1913, and later, by shafts and shallow pits over a length of about 240 metres, from 1936 to 1946, producing 94.6 tonnes of metallic tin.

Subsequently a modern exploration program by Ardlethan Tin Limited between 1973 and 1983 identified and reported to the NSW Mines Department that a flat dipping body of low grade mineralisation lies at the contact between the Ardlethan Granite and the Garnet Porphyry (GS 1982/074). This mineralisation consists of erratically disseminated cassiterite within a quartz, tourmaline, muscovite, sericite, topaz rock or greisen. Although the Little Bygoo greisen is low grade overall, there are sections of the mineralisation which reach grades similar to those at the Ardlethan mine. The report concludes: “Therefore it seems rash to dismiss the possibility of a more continuous high grade body of mineralisation to the north beneath anomalous geochemistry”.

The Big Bygoo Mines produced over 1,290 tonnes of metallic tin from pits and shafts up to 27 metres deep from 1913 to 1918, with the last recorded production from mines in the group in 1946. The grade of ore mined was very variable with average grades of 0.2 to 0.5% tin. Very rich pockets and veins of ore were mined along with practically barren ground.

The Taylors Hill Mines produced minor tungsten in addition to tin, and was worked by twelve small operations, but no production records are available. Economic concentrations of wolframite (tungsten oxide) were worked in the Outcast Mine.

Modern geochemical data obtained by Ardlethan Tin Limited outlines two significant anomalous zones which are associated with encouraging geology and appear worthy of shallow percussion drill testing.

The Bald Hill Mines were about ten kilometres south of the main Ardlethan workings, and worked by shafts, shallow pits and open cuts from 1912 to 1918, with small production of 1.5 tonnes recorded.

Mining Lease Applications 233 and 234 were lodged by Telminex NL over tin bearing alluvial leads, and have not been granted to date.

A review is in progress of the large amount of exploration data acquired by Ardlethan Tin during the period prior to the collapse of the International Tin Council in 1985 and subsequent sharp drop in the tin price. This will determine the most suitable sites for the Company’s proposed drilling program on these deposits.

Peter Kennewell,
MANAGING DIRECTOR


13th June 2007
Results of 1 for 3 Rights Issue

Cluff Resources Pacific NL advises that its 1 for 3 non-renounceable Rights Issue, to raise just over $2.8 million, closed on 13 June 2008, with good support received from shareholders. Subscriptions from Cluff shareholders totalled $1,345,545.83 for a total of 179,406,110 shares and 179,406,110 attached 30 November 2008 listed options.

The Issue has been fully underwritten by Martin Place Securities Pty Ltd, who will be placing the remaining shortfall of 194,866,158 shares and options.

Cluff will be allotting the shares and options to shareholders as of today, with the allotting of the underwritten portion of the Issue to be advised.


Peter Kennewell,
MANAGING DIRECTOR




24th May 2007

Underwriting secured for 1 for 3 Rights Issue

In accordance with ASX listing rule 3.11.3, the Company is pleased to advise that it has secured an agreement with Martin Place Securities Pty Ltd to fully underwrite its 1 for 3 Rights Issue.

The attached letter is being sent to Cluff shareholders advising them of the signing of the underwriting agreement.


Dear Shareholder,

UNDERWRITING SECURED FOR 1 FOR 3 RIGHTS ISSUE

The Company is pleased to advise that it has secured an agreement to fully underwrite the current 1 for 3 Rights Issue, in accordance with ASX listing rule 3.11.3.
The underwriting, by Martin Place Securities Pty Ltd, ensures that the Company will raise the required $2.8 million, before the costs of the Issue. The funds raised will be used mainly to fund current exploration projects as detailed in the Prospectus.

The underwriting agreement has normal contingencies which allow for release, including (but not limited to): the Company’s insolvency; the All Ordinaries Index Number or the Dow Jones Industrial Average falling by more than 10% prior to the date of the agreement; any material adverse changes or effects on the ability of the Company to complete the Issue; and material changes to Corporations Law with regard to capital raisings.

A 5% underwriting fee is payable to Martin Place Securities. The underwriter will also receive 10,000,000 November 30, 2008 listed options exercisable at 2.5 cents in consideration for their services.

Peter Kennewell,
MANAGING DIRECTOR


11th May 2007
Letter to Shareholders regarding Non-Renounceable Entitlement Issue

Dear Shareholder,

NON-RENOUNCEABLE ENTITLEMENT ISSUE

The Directors of Cluff Resources Pacific NL (Cluff or the Company) advise that the Company will be undertaking a Non-Renounceable Entitlement Issue on the basis of one share for every three shares held at the record date of 21 May 2007 at an issue price of 0.75 cents per share together with one free attaching Option for every Share subscribed for (Issue).
The Issue, if fully subscribed, will result in 374,272,268 shares being issued at 0.75 cents each and 374,272,268 free attaching options raising a total of approximately $2,807,042 less the costs of the Issue.

The shares to be issued are fully paid ordinary shares and the options will have the following terms:
(a) the options are free-attaching as part of the Issue;
(b) the options will be quoted on ASX (CFRO); and
(c) each option will entitle the holder to subscribe for 1 fully paid ordinary share at an exercise price of 2.5 cents per share on or before 30 November 2008.

The capital structure of the Company following the Issue will be:

  • 1,497,089,071 Ordinary Fully Paid Shares;
  • 374,272,268 quoted 30 November 2008 Options;
  • 73,724,328 unquoted party paid shares (20 cent shares paid up to 18 cents);
  • 81,571,428 unquoted 2 cent options expiring 30 June 2008;
  • 1,500,000 unquoted 2 cent employee options expiring 13 April 2008.

Approval of modifications to two sections of the Company’s Articles of Association was received by shareholders at the Annual General Meeting on Thursday the 10th of May 2007, and the Issue may now proceed.

The timetable that has been established for the Issue, as contained in the Prospectus lodged with ASX and ASIC on 13 April 2007, is as follows:

Event Date
Lodgement of Prospectus with ASIC and ASX
(Appendix 3B notice to ASX)
Friday 13 April 2007
Notice sent to Shareholders containing information required by Appendix 3B Friday 11 May 2007
Record Date for determining Entitlements Monday 21 May 2007
Opening Date, and Prospectus and Entitlement and Acceptance Form dispatched to Eligible Shareholders Wednesday 23rd May 2007
Closing Date (5.00pm EST) Thursday 7 June 2007
Securities quoted on a deferred settlement basis Friday 8 June 2007
Dispatch Date/Securities entered into Shareholders security holdings Tuesday 12 June 2007

The funds to be raised by this Issue will be used as follows:

Tin Project
- Geophysical interpretation
- Drilling at Buddigower project
- Drilling at Leviathan project
- Drilling at Ardlethan project
- Drilling at Gibsonvale project

Egerton Gold Project
- Deep drilling at Black Horse and Egerton Mine
- Shallow drilling at Mundic Lode Mine

Evaluation of new resource projects offered to the Company;
Tenement maintenance expenditure;
Costs of the Issue;
Working capital.

The Board of Cluff feels this Entitlement Issue represents an excellent opportunity for shareholders to participate in the Company’s future success.

A copy of the Prospectus may be viewed on the Australian Stock Exchange website at www.asx.com.au, or alternatively at the Company’s website at www.cluff.com.au .

Peter Kennewell,
MANAGING DIRECTOR




11 May 2007

Results of Annual General Meeting, held on 10 May 2007

The following information regarding the results of the Annual General Meeting of Cluff Resources Pacific NL held on 10 May 2007 is provided in accordance with Listing Rule 3.13.2 and section 251AA(2) of the Corporations Act.

Resolution 1: To receive and approve the Annual Report and accounts of the Company for the year ending 31 December 2006.

This resolution was passed unanimously on a show of hands.

Proxy votes received:
22,751,420
FOR
13,168
AGAINST


Resolution 2: To elect Mr. Peter Francis Barrow as a Director of the Company upon his retirement by rotation in accordance with the Articles of the Company.

This resolution was passed unanimously on a show of hands.

Proxy votes received:
22,787,020 FOR
50,000
AGAINST


Resolution 3: To delete Clause 2(a) of the Articles of Association and replace with the following:
Clause 2(a)
The Company shall from time to time determine:
(I) the share capital of the Company:
(ii) the issue price of ordinary shares in the Company;
PROVIDED that the Directors may, subject to the Act and insofar as the Listing Rules (particularly
Listing Rule 7.1) require, determine in respect to such an issue:
(I) the share capital of the Company;
(ii) the issue price of ordinary shares in the Company subject to such shares not being issued at less than 80%of the average sale price of the issued shares of the Company on the Australian Stock Exchange for the previous 10 trading days before the day of issue.


This resolution was passed on a show of hands, with greater than 75% of the votes received in acceptance of the resolution.

Proxy votes received:

22,762,020 FOR
75,000 AGAINST

Resolution 4: Delete from Clause 2 (c) (v) of the Articles of Association the following words:
" - the exercise price of the option is at least twenty cents";
And replace with the following:
" - the exercise price of the option shall be determined by the Company from time to time;
PROVIDED that the Directors may subject to the Act and the Listing rules in any one year determine:
(i) to issue options up to the number equivalent to 7 1/2% (7.5 per cent) of the total number of shares on issue; and
(ii) an exercise price for such options".

This resolution was passed unanimously on a show of hands.

Proxy votes received:

22,617,588 FOR
143,000 AGAINST

Proxy votes voting ‘for’ all resolutions above include proxy votes which allow for the Chairman’s discretion.

Peter Kennewell,
MANAGING DIRECTOR



23rd March 2007

Rich Tin and Silver on Buddigower Tin Field

The Buddigower Tin Field includes an undeveloped but rich tin and silver lode located south west of West Wyalong, in central NSW. This lode is interpreted to extend east-west for at least 1,200 metres, and would be expected to continue to substantial depth. Numerous shallow open pits from which tin and silver were mined extend over a surrounding area of 2 km by 1 km. Cluff Resources Pacific NL has recently lodged an Exploration Licence Application over this tin field.

Cluff’s ELA also covers the western part of the West Wyalong Gold Field, and the Grellman tin/gold/silver workings. A review of available information with a view to defining tin, silver and gold targets within these areas is planned.

When discovered in 1901, the Buddigower tin and silver lode’s outcrop was reported by Pittman, the Government Geologist, to be over two metres wide and covered by about 30 cm or more of "soil in which occurred loose angular boulders of almost pure greyish white cassiterite or tinstone. These boulders vary in size, the largest hitherto found being nearly thirty pounds in weight". It was considered that these "had been shed from the quartz lode by denudation of its upper portion or outcrop." Although no bunches of tinstone had been found in the lode, it contained veins and impregnations of tinstone.

After amalgamation of four adjoining leases, a shaft was sunk with Government aid to a depth of 30.5 metres on this main lode. The high grade results obtained are outlined below:

No substantial production has been reported from this shaft, although unrecorded small scale extraction would be expected. This tin/silver lode has potential to extend east-west for over 1,200 metres between three mapped old workings, and would be expected to extend to considerable depth. While the high grades encountered from 12 to 15.2 metres probably represent an enriched gossanous zone due to surface weathering, the underlying grades, while not certain, have the potential to be economic at current tin and silver prices. This makes the prospect a very significant drilling target. The granting of Government aid "for the purpose of proving the width of the silver lodes" suggests that there is a halo of silver mineralisation surrounding the tin lode.

Twenty nine 15 metre percussion drill holes by Ardlethan Tin NL were sunk in 1967 within the area near this shaft. While apparently not aimed at intersecting the lode, they yielded anomalous tin assays in the surrounding rocks. Two holes 20 metres apart intersected "yellow-brown soil" assaying 0.37% tin over 4.6 metres (from 10.7 m to 15.2 m), and 0.30% tin over 7.6 metres (from 6.1 m to 13.7 m), demonstrating potential for alluvial tin leads extending off this tin/silver lode.

Peter Kennewell,
MANAGING DIRECTOR



14th March 2007

Cluff regains 100% equity in Ruby Mine

Consolidated Press Holdings Limited has terminated the Ellerston coloured stone concentrate agreement. They are happy to continue to work with Cluff in relation to negotiation of a sales contract for the cut and sorted run of mine gemstone to another party, together with sale of their stockpile of coloured gemstones.

Thus the project reverts 100% to Cluff. This gives Cluff the right to receive all profits from future production and sale of the gemstones.

Cluff Resources Pacific has obtained approval in principle from CPH to take over their gemstone cutting and sorting arrangements, and has approached international manufacturing jewellers with a view to negotiating a sales contract for the run of mine cut and sorted gemstone. All stone that is produced will be sold in the super premium part of the gemstone market.

The Gloucester and Upper Hunter Shire Councils recently failed to approve an amendment to the current Development Consent for a small extension to the mining area at the ruby operation. The Board does not feel that further mining expenditure is warranted until the Development Application is approved.

Accordingly the mine will be placed on care and maintenance from the end of March until this matter is resolved, and a contract can be negotiated with a long term purchaser of the stone.

Peter Kennewell,
MANAGING DIRECTOR



7th March 2007

Cluff Enters Tin Exploration

Exploration Licence Applications have been lodged over three of NSW’s most highly prospective tin bearing fields, surrounding two of the state’s largest tin mines. Areas applied for by the Company are shown in yellow on the maps below. Current tenements held by other parties are shown in brown.

This is in response to the recent substantial rise in the tin price from $US 6,000 per tonne in late 2005 to recent prices of over $US 13, 000 per tonne. Such a rise has the potential to return these hard rock tin deposits, and the surrounding alluvials, to economic status. The tin price is graphed below:


A literature review of the prospectivity of each tin field is in progress, and an exploration program based on geophysics and drilling is in preparation.

Ardlethan Tin ELA:
The Ardlethan Tin Mines, west of Temora, are a world class resource, having produced in excess of 11,600 tonnes of metallic tin. The district surrounding this mine area will be evaluated with a view to locating similarly sized ore bodies to those previously mined, in a similar geological setting.

In the most economically important mines in this tin field, the tin is associated with volcanic bodies and possible intrusion breccias. These features will be used as indicators of intense tin mineralisation in determining the exploration program.

The accompanying map shows the location of previously mined tin deposits within the ELA which, together with geophysically generated targets, will be drilled by the Company.


Gibsonvale Tin ELA:
The Gibsonvale Tin Field, west of West Wyalong, has produced over 7,100 tonnes of metallic tin, and alluvial leads have been worked where no economic primary mineralisation could be found at that time. Exploration will be concentrated on such areas. The tin deposits are located along a 15 km long contact zone between sediments and an intruded granite. Localised areas within this zone are invaded by small greisen veins together with the quartz veins in which the tin occurs. These localised areas will be sought and drilled, aiming to locate stockworks of veins which may form very substantial tin deposits.

Leviathan Tin ELA:
This ELA, near Inverell, covers the area north and east of the company’s Copeton diamond leases, and includes several former hard rock tin mines, including the Leviathan. The field contains fourteen areas approximately 1 km by 0.5 km in size annotated "Tin Mining Area", Abandoned Mining Area", or "Numerous Quarries" on the Inverell map sheet, demonstrating very substantial surface mining activity for tin in this field in the past. The Company’s Mining Operation team is based in Inverell, and would be readily available to carry out mining activity in this district. The Gilgai tin deep lead has been worked within the ELA, but is regarded as a difficult target.

The Leviathan Tin Mine, shown at right, consists of a vertical lode 160 metres long and up to 5 metres wide. It was worked from 1899 to 1950, produced 45 tonnes of tin oxide, and was subjected to modern exploration during the 1980s.
It occurs within a north easterly trending line of mineral deposits which include Cadogan’s Tin Mine, and suggests the presence of crustal feature localising tin deposition.
A review of the available data is in progress.

Peter Kennewell,
MANAGING DIRECTOR

 

21st February 2007
Ruby Project: Modification of Consent not approved by Gloucester Council

The Company’s application for an extension to mining area 11 was rejected today at a meeting of Gloucester Shire Council, by a vote count of six to three.
The Company had hoped that its excellent environmental record at the mine since small-scale mining commenced in late 2004 would be considered by the Council in granting the extension, which would have enabled the continuation of mining in the high-grade area currently being developed.

The Company has over this period consistently complied with every consent authority condition, the terms of its Environmental Protection Licence, as well as its own stringent environmental targets. As such, the Company believes there was no valid scientific or environmental reason for the modification of consent to be rejected. This was further confirmed in a report by the Council’s own Director of Planning and Environment which recommended the request for modification be approved. The Company believes that the reasons for rejection given by the Councillors were primarily politically motivated, and as such will be reviewing our options to appeal the decision to the Land and Environment Court.

The existing Development Consent for the Ruby Mine is still current, however, with the Company able to continue mining in the previously-approved mining areas 11, 2A and 4.

Peter Kennewell,
MANAGING DIRECTOR

 

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