Santa Teresa Gold Project Update

Highlights

• Recent detailed geological mapping of the Project area has identified numerous potentially mineralised structures at surface in addition to the known vein structures intersected in the 2008 drilling campaign
• Visible gold observed in artisanal workings (see Figure 1 below)
• Access and drilling agreements have been reached with local stakeholders
• Environmental experts visit to the Project area as part of the drilling permitting process identified no matters of sensitivity that would affect the permitting process
• Drilling permit applications will be submitted shortly once documentation is completed, with approval expected approximately 60 days thereafter

Comet Resources Limited (Comet or the Company) (ASX:CRL) is pleased to provide an update on progress at the Santa Teresa Gold Project (the “Project”) in Baja California, Mexico. A comprehensive mapping campaign of historical drill collars, shafts and artisanal workings has been conducted over the Project area by consultant geologists Minera Cascabel. The mapping process identified numerous narrow vein structures at surface, which are in addition to the known vein structures targeted in the 2008 drilling campaign.

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