Release: Prosperity Resources: Drilling update at Rina prospect

Prosperity Resources Ltd is pleased to update the status of the deep diamond drilling at the Rina porphyry copper-gold prospect in Kalimantan, Indonesia. The company has a 10 % carried interest in PT Pasifik Masao Mineral with an option to purchase up to 20 %.

The first of two deep diamond drill holes, each 750 meters in planned depth, has been completed at 862.8 meters, testing the Rina prospect for large high grade porphyry copper-gold mineralisation.

The drill hole intersected continuous mineralisation from surface and within it, three wide zones of stronger mineralisation occur. These represent a network of veins from a large igneous mass of rock that shows increasing width and grade of mineralisation with depth.

The significant new analytical results are 159 meters at 0.27 percent copper and 0.25g/t gold from 544m, including 104 meters at 0.30 percent copper and 0.27g/t gold from 544m (+ 1 g/t gold equivalent or +0.40% copper equivalent) and 21 meters at 0.20 percent copper and 0.28g/t gold from 764m including 7 meters at 0.26 percent copper and 0.50g/t gold from 771m.

Prosperity Resources Ltd?s Managing Director, Mr Ric Dawson said ?The significance of the hole is it has intersected a cumulative 310 meters of mineralisation averaging 0.9g/t gold equivalent or 0.35% copper equivalent including an interval of 104 meters grading + 1g/t gold equivalent or 0.4 copper equivalent.?

Mr Dawson said ?There is also an analogy in potential size and grade of the Rina prospect to one of the largest copper-gold porphyry deposits in the world, the Pebble West Deposit in Alaska, which contains a resource of 3,026 million tonnes @0.28% copper, 0.32g/t gold (copper equivalent 0.41%); source: www.northerndynasty.com. Northern Dynasty currently has a market capitalization of approximately $600m.?

The second hole RDH-15 has commenced and is now at a depth of 253 meters. (end of relesase)