Mintails owns the rights to process and extract gold, uranium and sulphuric acid from extensive tailings resources located on the West and East Rand regions of South Africa's historic Witwatersrand Basin. Mintails controls these rights in respect of over 330 million tonnes of slimes, sands and rock tailings materials, mainly located on South Africa's historic West Rand and from its 50% joint venture share in over 1.5 billion tonnes of slime tailing materials located on the East Rand.

WEST WITS MINING LIMITED (ASX:WWI)

On 26th April 2007 Mintails Limited and DRDGold Limited announced reaching an agreement on the formation of a joint venture company now called West Wits Mining Limited (West Wits) to explore, evaluate and potentially extract gold and uranium from the Company's Project Areas located on the West Rand Goldfield of South Africa's Witwatersrand Basin. Historically the Project Area has collectively produced 61.4 million ounces of gold and 37 million pounds of uranium over the past 120 years.

West Wits listed on the ASX through an Initial Public Offering (IPO) on the 19th December 2007 and raised A$15 million.

The Company is initially focused on creating early cashflow generation from a number of its near surface gold targets which may be conducive to shallow opencut mining operations. Currently West Wits has a 468,000 ounce JORC gold resource established from four near surface targets. As the Company begins to develop these near surface targets, its exploration program will systematically progress to the Company's more substantial underground targets. West Wits has produced a conceptual exploration target for the Company's lease portfolio os: 3.95 - 5.20 million ounces of gold, and 17 - 22 million pounds of uranium.

Mintails Limited owns 33,750,000 shares or 27.72% of West Wits Mining Limited.