Tantalum Egypt

completed

_x000C_The project is an early-stage equity investment of $2 million in Gippsland Limited (the company) to facilitate completion of feasibility studies of the Abu Dabbab Tantalum-Tin project, and early stages of the company’s gold exploration activities. Gippsland Ltd. (Gippsland or the company) is an Australian junior exploration company listed on both the Australian Stock Exchange (ASX) and the London Stock Exchange AIM. IFC financing for the development stage of the project is not part of this investment.- Abu Dabbab Tantalum-Tin Deposits (Abu Dabbab) Gippsland is completing a feasibility study for the development of a greenfield open pit tantalum and tin mine and associated facilities at Abu Dabbab. Production is expected to be approximately 649,000 lb of tantalite and 1,500 tons of tin metal per annum over a period of 13 years. - Wadi Allaqi Gold Exploration Areas (Wadi Allaqi) Gippsland has rights to explore nine tenement areas (eight gold properties and one copper-nickel property of 1600 hectares each) located in the Wadi Allaqi region of south-eastern Egypt. The Wadi Allaqi region is located to the southeast of Aswan in the south-western part of the Eastern Desert of Egypt covering an area of about 12,000km2.