Troy Resources NL
ASX : TRY
FRANKFURT : TRW

Troy Resources NL

April 30, 2007 06:25 ET

Troy Resources NL: Quarterly Report for the Three Months Ending 31 March 2007

WEST PERTH, WESTERN AUSTRALIA--(CCNMatthews - April 30, 2007) - Troy Resources NL (ASX:TRY)(FWB:TRW) -

HIGHLIGHTS

OPERATIONS

- The Sandstone Mill (Troy 100%) treated 139,242 tonnes of ore at 4.94 g/t to produce 20,913oz of gold at a cash cost of A$328 per ounce (US$265).

- The SML Mill (Troy 70%) in Brazil treated 47,249 tonnes of ore at 3.32 g/t to produce 3,820oz of gold at a cash cost of A$526 per ounce (US$425).

- Total attributable gold production was 23,587 ounces for the March quarter at a cash cost of A$350 per ounce (US$283).

- Total attributable gold production was 78,708 ounces for the nine months to 31 March 2007 at a cash cost of A$318 per ounce (US$257).

- On track to achieve forecast annual attributable gold production of 100,000oz.

PROJECT DEVELOPMENT - ANDORINHAS BRAZIL

- The environmental permit was approved and project development activities are progressing well.

- Resource infill at Lagoa Seca and sterilisation drilling for the mill site at Mamao is underway.

- Metallurgical test work was completed, a suitable additional mill has been identified and design work is underway.

EXPLORATION - SANDSTONE AUSTRALIA

- Rock chip grab samples collected from Garden Well Prospect, returned gold assays of 34.10g/t and 18.50g/t.

CORPORATE

- Group cash and equivalent liquid assets of A$80.4 million.

- In addition to the above cash position, Troy completed a placement of 3.9 million shares to raise about A$12 million on 5 April 2007.

- Profit for the half year ended 31 December 2006 of A$7.3 million after tax.

- Troy and Rio Tinto Mongolia LLC signed a 3 year option/earn-in joint venture to explore Troy's Dornogovi Coal Project in southeast Mongolia.



Troy Resources NL
ABN 33 006 243 750

44 Ord Street
West Perth
Western Australia 6005

Corporate Details

ASX Code: TRY

Issued Capital:
57,496,753 ordinary shares
5,365,486 party paid
350,000 unlisted partly paid
1,224,000 unlisted options

Directors:

Chairman:
John Jones

Executive Directors:
Tommy McKeith
Ken Nilsson
Non-Executive Directors:
Denis Clarke
John Dow
Alan Naylor


Contact Information