Mineral Deposits Limited

Mineral Deposits Limited

April 17, 2008 21:15 ET

Mineral Deposits Limited: Sabodala Gold Project

- Pre-production drilling closes drill spacing in upper parts of Phase 1 mining to 20m x 20m with increasing confidence - Numerous significant intercepts (true widths are unknown) have been encountered to date, including (all holes inclined at 60 degrees): -- 14 metres grading 11.8g/t from 31 metres -- 22 metres grading 7.1g/t from 28 metres -- 5 metres grading 15.7g/t from 53 metres -- 14 metres grading 5.8g/t from 41 metres - Pit development is in progress with contract miner BCM stripping more than one million tonnes of waste in 2008 prior to sustained ore mining in the September quarter - Resource definition drilling is ongoing elsewhere on the Sabodala concession at Dinkokhono, Niakafiri and Sutuba

MELBOURNE, AUSTRALIA--(Marketwire - April 17, 2008) - Mineral Deposits Limited (TSX:MDM)(ASX:MDL) -

A 46-hole, 2,570 metre RC drilling programme designed to test the resource model in the upper benches of mining Phase 1 has been completed at Sabodala (see Attachment 1). Results confirm the resource model grades and tonnages with additional mineralisation identified in several holes adding confidence to a successful start-up of the Sabodala open pit mine (see Attachment 2).

In preparation for owner mining scheduled to begin in June, BCM is presently under contract to mine waste from the Sabodala pit and prepare working benches for MDL's newly purchased Komatsu mining fleet. To date this year, more than one million tonnes of waste have been added to the base of the ROM pad (see Attachment 3).

Ore mining is on schedule to begin in June with the target of 500,000 ore tonnes placed on the pad prior to mill start-up later this year.

Elsewhere on the 3km x 7km Sabodala mining concession, drilling continues to test extensions to the known gold mineralisation at Dinkokhono, Niakafiri and Sutuba. Results are pending. MDL expects to spend some US$5 million on exploration/resource definition in the environs of the Sabodala Gold Project in 2008.

Revision to the current Sabodala Project resources and reserves (see Attachment 4) is planned for mid-year 2008.

The information in this report that relates to Exploration Results is based on information compiled by MDL's Mining Operations Manager, Bruce Van Brunt MSc Mining Engineering, who is a member of The Australasian Institute of Mining and Metallurgy and is also a registered professional geologist in the State of Washington, USA. Mr Van Brunt has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken. He is qualified as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and as defined in NI43-101. Mr Van Brunt has consented to the inclusion of this information in the form and context in which it appears in this report.

To view Attachment 1 - Production Drillhole Collar Locations, please click on the following link: http://media3.marketwire.com/docs/ATMDM1.pdf.

To view Attachment 2 - Pre-production Drilling Intercepts, please click on the following link: http://media3.marketwire.com/docs/mdm2a.pdf.

To view Attachment 3 - Waste being stripped from the Sabodala pit to ready the ROM for ore storage in Q3, please click on the following link: http://media3.marketwire.com/docs/ATMDM3.pdf.

To view Attachment 4 - 2007 Sabodala Project Reserves and Resources, please click on the following link: http://media3.marketwire.com/docs/ATMDM4.pdf.

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