Release: Austindo: PT Antam Tbk confirms contribution to Cibaliung gold project

Austindo Resources Corporation NL (ASX Code: ARX) announced that PT Antam Tbk has confirmed its intention to contribute to the 2006 expenditure budget in respect of the Cibaliung Gold Project in order to maintain its 10.25% interest in the project (ARX 89.75% as at 31 December 2005). Austindo considers Antam?s maintaining its interest as a vote of confidence in the Cibaliung project.

PT Antam Tbk is a leading Indonesian diversified mining and minerals processing company with nickel and gold operations throughout Indonesia.

Austindo values the financial support offered by Antam and its role in the development of this project which is located in Banten Province, Indonesia. Construction has commenced on site at Cibaliung with gold production scheduled in Quarter 4 of 2006. (end of release)