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GUF: Guildford Increases White Mountain Project Equity

Guildford Increases White Mountain Project Equity Guildford Coal Limited ( GUF) is pleased to announce that it has reached agreement for the transfer of the 100%owned coal exploration tenement, EPC1250 into its majority owned subsidiary White Mountain Pty Ltd for an additional 5% stake in White Mountain Pty Ltd. This takes Guildfords position in White Mountain Pty Ltd from 51% to 56% with the remaining shares in the subsidiary mostly held by Tiaro Coal Limited (TCM). The White Mountain Pty Ltd subsidiary already holds 100% of EPC1260 and with the completion of this transaction will hold 100% of the adjoining EPC1250. The expanded tenement holding in White Mountain Pty Ltd consolidates the ownership of the tenements in the Guildford Hughenden White Mountain Project. The White Mountain Project is located on the north eastern edge of the Galilee Basin in Queensland where the Permian coal seams are known to outcrop and where they were previously mined in the old White Mountain Coal Mine. Independent Geological Consultant (Palaris) has developed an Exploration Target of 0 to 745Mt of Galilee Basin thermal coal within EPC1260.

An independent Geological Consultant (Xstract Mining Consultants) has developed an Exploration Target of 40 to 70Mt of Galilee Basin thermal coal within EPC1250 which covers the old White Mountain Coal Mine. The White Mountain Project which consists of the contiguous EPC1250 and EPC1260 has a total Exploration Target of 40 to 815 million tonnes of Galilee Basin thermal coal. The White Mountain Project is a potential early stage development opportunity in the Hughenden Project and is well located to utilise existing rail and port capacity. The south eastern boundary of EPC1260 is only approximately 15 kilometres from a potential rail siding at Pentland. For and on behalf of Guildford Coal Limited Mr Michael Avery Managing Director 02 4914 5910.