Pegmont Mines Limited has acquired mining leases and exploration interests in the Mount Isa/Cloncurry mineral province since 1996. It is managed by a Board of three directors with extensive experience in the mining industry. The Company has access to the services of senior consultants with extensive experience in the Mount Isa region.

At Pegmont, about 160km south of Cloncurry, near to rich Cannington silver-lead-zinc mine, mining leases cover a lead-zinc deposit with an indicated and inferred resource of 8.6 million tonnes assaying 7.7% Pb and 3.5% Zn. There is very good potential for extra contiguous mineralisation. Pegmont is a Broken Hill-type lead-zinc deposit.

Applications for exploration tenements cover regional areas adjacent and near to this deposit at Pegmont (Easter Succession).

At New Hope, about 10km south of Selwyn the gold-cobalt prospect mining lease under option to Pegmont Mines Ltd has yielded promising high-grade drill results.