Veta Minitas

Veta Minitas is located approximately 250 metres south-west of the Kimber's Carmen gold-silver deposit on the Monterde property. The Veta Minitas area is underlain by felsic volcanic tuffs, breccias and intrusive rocks, with minor andesite flows; the same package of rocks hosting the Carmen deposit. The Veta Minitas mineralization occurs in shear zones within the felsic volcanic package, and is characterized by strong oxidation and silicification. The mineralization occurs in two main zones, known as Central and East.

To date 13,389 metres and 61 holes have been drilled on Veta Minitas. The two holes drilled at Veta Minitas by diamond drills in July 2008, for a total of 936 metres, were designed to drill test the Central mineralized zone at depth and then to continue down to the East zone, which has been tested in three previous holes. The East zone is a gold-enriched system (relative to the Central zone) that does not extend to surface. The results of the 2008 drilling, on top of those from 2006, suggest good vertical continuity of the two systems, with increasing gold to silver ratios to depth.

Mineral Resource Estimate

Base Case High Grade Mineral Resource Estimate for Veta Minitas Deposit
(At 3 g/t Recoverable Gold Equivalent Cut-off)

The high grade resource lies within an overall halo of lower grade mineralization.  The base case total resource estimate, inclusive of the high grade estimate, is tabulated below.

Base Case Total Mineral Resource Estimate for Veta Minitas Deposit
(At 0.3 g/t Recoverable Gold Equivalent Cut-off)

The mineral resource estimates were prepared by Mr. Gary Giroux, P.Eng., a senior associate of Micon and the results are effective at November 17, 2009. This mineral resource estimate was prepared using a three dimensional block model and ordinary kriging of 6 x 6 x 6 m blocks. The estimation of grades was constrained by models of the geological and mineralized zones created by Kimber geological staff under the supervision of Mr. Petrus (Marius) Maré, P.Geo, Vice-President Exploration, and the designated Qualified Person (QP) for the Monterde project. Models of the geology and mineralization of gold and silver at Carmen were reviewed and approved by Mr. B. Terrence Hennessey, P.Geo., of Micon. The wireframes of the high grade and low grade gold and silver mineralization were interpreted into various sub-domains to optimize the sample search orientation by Pierre Desautels, P.Geo., of PEG Mining Consultants Inc. The gold and silver metallurgical recovery models, for the Carmen and Veta Minitas deposits, used to calculate gold and silver recoveries by block and gold equivalent grade by block were prepared by Kimber staff and consultants, and reviewed and approved by Richard Gowans, P.Eng., President of Micon.