Blackham Resources Ltd. Resource Success Supports Increase in Processing Capacity

Perth - Blackham Resources Ltd (ASX:BLK) (OTCMKTS:BKHRF) ("Blackham") is pleased to provide a revised Mineral Resource estimate for an expanded Matilda/Wiluna Gold Operation. This is the second resource announcement associated with the Stage 2 expansion study aimed at growing production beyond 200,000ozpa and includes new open pit Mineral Resource estimates at the Happy Jack - Bulletin and Adelaide - Moonlight areas.

- Wiluna exploration success and resource upgrades point to additional 1.5Mtpa crushing and grinding circuit to process Wiluna ores

- Mining and processing studies point to +3Mtpa @ ~ 3g/t Au total processing capacity across the Matilda/Wiluna Operation.

- Combined Matilda/Wiluna Measured, Indicated and Inferred Mineral Resources have grown to 63Mt @ 3.2g/t for 6.4Moz (49% indicated)

- 25% total resource increase since the last quarter

- Open pit resources now 37Mt @ 2.1g/t for 2.4Moz including:

o Initial open pit Mineral Resource estimate for Happy Jack - Creek Shear - Bulletin area of 2.9Mt @ 2.75g/t for 250koz (94% indicated)

o Initial open pit Mineral Resource estimate for Adelaide - Moonlight area of 0.7Mt @ 3.14g/t for 67koz (52% indicated)

- Underground resources stand at 26Mt @ 4.8g/t for 4.0Moz

- Growth in the open pit resources is likely to underpin the base load feed and growth in the underground resources will provide important grade profile for Wiluna processing plant

Mineral Resources at the Matilda/Wiluna Operation have grown to 6.4Moz (63Mt @ 3.2g/t) with 31Mt @ 3.1g/t Au for 3.1Moz sitting in the Measured and Indicated categories. Consequently, Blackham is advancing its mining and processing studies to increase the processing capacity to more efficiently develop the large resource base and bring better value to its shareholders.

A draft report has been received from Orway Mineral Consultants (OMC) on a recommended processing flowsheet for an additional 1.5Mtpa in new crushing, grinding and flotation circuit to feed the existing BIOX plant. The commissioning of this additional capacity in addition to the recently refurbished 1.7Mtpa oxide circuit would see total capacity of ~3.2Mtpa across the oxide and sulphide circuits, all located at the Wiluna processing hub. The expanded Wiluna plant would bring significant economies of scale to the combined project with all the resources sitting within a 20km radius of the processing plant.

Current mine planning is focused on the planned 1.5Mtpa sulphide circuit being fed equally from both the open pits and the underground. The Wiluna underground would have 2 of the existing 5 declines in operation at any point in time.

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About Blackham Resources Ltd:

Blackham Resources Limited (ASX:BLK), is an emerging gold producer focused on its Matilda Gold Project in Western Australia where mining and production is imminent. Matilda's resources of 48Mt @ 3.3g/t for 5.1Moz, all within a 20km radius of its gold plant currently being re-commissioned. The Matilda Gold Project incorporates over 780 square kilometres of tenements and cover around 55 kilometres of strike along the Wiluna and Coles Find Mine Sequences. The Project has historically produced 4.3 million ounces of gold.



Contact:

Bryan Dixon Managing Director
Blackham Resources
T: +61-8-9322-6418
E: info@blackhamresources.com.au
www.blackhamresources.com.au

Bruce Kendall Chief Geological Officer
T: +61-8-9322-6418

Jim Malone
Investor Relations Blackham Resources
T: +61-8-9322-6418