Australian Mineral Fields Ltd.

01 \|	FOCUS AREA AUSTRALIA
02 \|	INITIAL FOCUS AREA WESTERN AUSTRALIA
03 \|	REGIONAL GEOLOGY AND PROSPECTIVITY
04 \|	MT. THIRSTY
05 \|	FRASER RANGE NORTH
06 \|	SALMON GUMS
07 \|	SUNDAY
08 \|	TUSHTENA
09 \|	CUNDEELEE
10 \|	OTHER PROJECTS Webb Rattle Dam Grenville

Region:		Western Australia
Commodity:		Au
Project Name & Location:		Webb
Target Deposit Type & Model:		>1 million ounce intrusion related gold
Land Status:		3 Exploration Licence Applications
Ownership:		100% AusMF

In April 2007, Australian Mineral Fields successfully completed the application process for two exploration licences in the Webb area (E80/3916 & E80/3917), The project area comprises some 760 square kilometers of the Lake Mackay/Mt Webb region in the far east of Western Australia (Fig.1) The Mt Webb-Lake Mackay region is largely unexplored and has potential for iron oxide copper gold (IOCG), intrusion related gold and unconformity-related and roll front sandstone-hosted uranium deposits. The two applications in the Lake Mackay area are within Aboriginal land reserves and as such access agreements are required to be negotiated with the traditional owners.

In February 2008, the company made application for a further tenement in Lake Mackay/Mt Webb region of Western Australia, near the Western Australian border with the Northern Territory, covering a defined and significant gold and copper anomaly defined by data collected by the GSWA and released to the public immediately prior to the Company making its application¹. GSWA also reported a lag sample taken from within this tenement as returned a gold value of 0.403g/t Au. The Company has clear priority for grant and will instigate Native title negotiations to progress the process towards achieving tenement grant.

The three applications in the Lake Mackay area are within Aboriginal land reserves and, as such, access agreements are required to be negotiated with the traditional owners.

Summary plan of Webb applications showing GSWA geochemical data points coloured by gold values over a combined magnetics (texture) and gravity (colour) image.

The Company considers its Webb Project to be a conceptual target play, and will be exploring for IOCG/Intrusion related mineralization. The Company intends to complete initial exploration on the Webb property using surface geochemical sampling in exposed areas to assess the project area's prospectivity.

¹ New exploration datasets for the western Arunta: could this be the next Olympic Dam?, Catherine Spaggiari, Paul Morris, Ian Tyler, GSWA open day presentation 2008.