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A1 Minerals- Laverton Gold Project Resource Update

On March 2nd A1 Minerals announced that its Board had doubts about the veracity of the geological

information and resource modelling at A1’s North Laverton tenements provided by its former managing

director John Williams.

As a result of these doubts, the Board commissioned an independent geological recalculation to be

undertaken of the Delta (Cork Tree Well) and some of the Epsilon leases (Ben Hur and Kennecott).A1

Minerals engaged Andrew Hawker, principal geologist of Hawker Geological Services Pty Ltd, to

undertake the recalculation of Cork Tree Well and Ben Hur-Kennecott.

In addition to being a geologist familiar with the geology of the Laverton region, having worked on Regis

Resources Erlistoun Project and multiple projects with Crescent Gold, Mr Hawker is qualified as a

member of the Australasian Institute of Mining & Metallurgy to provide Competent Person statements

under the JORC Code.

Mr Hawker’s reports on Cork Tree Well and Ben Hur-Kennecott have been received. The executive

summaries from those reports are attached.

In summary, Mr Hawker created block models using appropriate wireframe constraints and ordinary

kriging utilizing Surpac Software. The summary classification tables for the two resource calculation are

presented below;

kTonnes Grade kOunces

Measured 975 1.34 42.0

Indicated 513 1.23 20.3

Inferred 3,435 1.41 155.7

Total 4,923 1.38 218.0

Cork Tree Well

HGS Resource March 2011

kTonnes Grade kOunces

Measured - - -

Indicated 3,435 1.32 145.8

Inferred 3,212 1.38 142.5

Total 6,647 1.35 288.3

Ben Hur

HGS Resource March 2011

The Board will now consider what action should be taken to progress the resources declared in Mr

Hawker’s report and will also consider options available to it to develop further its resource inventory

and production profiles.

5th April 2011

Current Issued Capital: Market Cap 200,668,425 Ordinary Shares at 5.6 cents: $11.2m

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Tenement map showing A1’s mines and prospects

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For further information, please see other ASX announcements or email Liam Wheaton from Investor

Relations on LiamW@a1minerals.com.au. Yours sincerely,

Albert Longo Finance Director – A1 Minerals Limited For full reports and information go to A1 Minerals website: www.a1minerals.com.au or ASX Code: AAM

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Andrew James Hawker, who is a Member of The Australasian Institute of Mining and Metallurgy.Mr Hawker has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (The JORC Code, 2004 Edition). Mr.Hawker is the Principal Geologist of Hawker Geological Services Pty Ltd and consents to the inclusion in the report of the matters based on his information in the form and context in whichit appears.

1. Delta (Cork Tree Well) Resource Evaluation Statement – March 2011

2. Epsilon (Ben Hur/Kennecott) Resource Evaluation Statement – March 2011

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HGS Australia Office: (08) 6201 9005 Fax: (08) 9302 4980 admin@hgsaustralia.com.au Unit 14 / 110 Inspiration Drive, Wangara, WA, 6065 Page 1

Unit 14, 110 Inspiration Drive

Wangara WA 6065

Office: (08) 6201 9005

Fax: (08) 9302 4980

www.hgsaustralia.com.au

4th March 2011

David Reid

Chief Geologist

A1 Minerals Limited

5th Floor, 25 Walter Drive

Osborne Park WA 6017

Dear David

Delta (Cork Tree Well) Resource Evaluation Statement - March 2011

Please find attached a statement of resources for the Delta Project conducted in March

2011 by Andrew Hawker and prepared for release this 4th March 2011.

Yours Sincerely

Andrew Hawker (BSc. Geol MAusIMM)

Principal Geologist

Hawker Geological Services Pty Ltd

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Delta Resource Evaluation Statement - March 2011

HGS Australia Office: (08) 6201 9005 Fax: (08) 9302 4980 admin@hgsaustralia.com.au Unit 14 / 110 Inspiration Drive, Wangara, WA, 6065 Page 2

INTRODUCTION

At the request of David Reid, Chief Geologist at A1 Minerals Ltd, Hawker Geological Services

Pty Ltd (HGS) was asked to conduct a resource evaluation for the Delta Project (previously

known as Cork Tree Well)

The Delta lease covered in this report is M38/346 located within the Shire of Laverton WA

approximately 35kms north of Laverton. It is held 100 percent by A1 Minerals and forms part of

A1’s BrightStar Project.

The resource was conducted using a validated dataset extracted from a Gbis database and

interpolated using Ordinary Kriging and inverse distance squared interpolation methods. Hawker

Geological Services does not make any claims to the validity of the database and operates on the

assumption it is validated for the purpose of reporting a resource.

Interpretations were conducted by Andrew Hawker identifying zones of continuous

mineralisation within a 0.5g/t boundary with a minimum downhole width of 3 metres. The

oxidisation horizons were interpreted from geological weathering logs. Sample data was flagged

within the interpretation wireframes and composited to 1 metre for interpolation.

Five zones of mineralisation were identified; Delta1 (Cork Tree Well), Delta North, New North,

Paleochannels and Delta2. Each zone has several interpreted lodes.

Ordinary Kriging (OK) and inverse distance squared (ID2) interpolation methods were

conducted and used to compare results between a mathematically complex method and a simple

interpolation method. OK is the preferred method as it does not discriminate between clustered

and non-clustered sample locations, and it can allow for nuggetty environments therefore

reducing any local bias.

High grade cutting was conducted using probability curves and histograms conducted on datasets

from all areas as well as combining datasets. The following high grade cuts were applied:

Delta1 (Cork Tree Well) 15g/t

Delta North 6g/t

New North 14g/t

Paleochannels 3g/t

Delta2 17g/t

Dry bulk densities were applied to the models based on data supplied by A1 Minerals. Table 1

summarises the densities applied:

Table 1: Dry Bulk Densities applied to the block model

Oxidation Profile Density

Oxide 2.2

Transition 2.4

Fresh 2.6

The resource estimate was classified by Andrew Hawker based on data density, estimation

quality and confidence in the geological interpretation.

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Delta Resource Evaluation Statement - March 2011

HGS Australia Office: (08) 6201 9005 Fax: (08) 9302 4980 admin@hgsaustralia.com.au Unit 14 / 110 Inspiration Drive, Wangara, WA, 6065 Page 3

RESULTS

The results are reported from Surpac block model "delta_march2011.mdl" and summarised in

Table 1 and 2 below.

Table 1: Delta Project Classified Resource

Reportable Resource Classification

kTonnes Grade kOunces

Inferred 3,435 1.41 156

Indicated 513 1.23 20

Measured 975 1.34 42

Total 4,922 1.38 218

Table 2: Delta Project Resource by Oxidation

Reportable Resource

Cutoff kTonnes Grade kOunces

Oxide 0.4 1,263 1.23 50

Transition 0.5 2,048 1.23 81

Fresh 0.7 1,611 1.68 87

Total 1.0 4,922 1.38 218

COMPLIANCE with the JORC CODE ASSESSMENT CRITERIA

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Andrew James Hawker, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Hawker has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (The JORC Code, 2004 Edition). Mr. Hawker is the Principal Geologist of Hawker Geological Services Pty Ltd and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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HGS Australia Office: (08) 6201 9005 Fax: (08) 9302 4980 admin@hgsaustralia.com.auUnit 14 / 110 Inspiration Drive, Wangara, WA, 6065 Page 1

Unit 14, 110 Inspiration DriveWangara WA 6065Office: (08) 6201 9005Fax: (08) 9302 4980www.hgsaustralia.com.au

29th March 2011

David ReidChief GeologistA1 Minerals Limited5th Floor, 25 Walter DriveOsborne Park WA 6017

Dear David

Epsilon (Ben Hur & Kennecott) Resource Evaluation Statement -March 2011

Please find attached a statement of resources for the Epsilon Project conducted for releasethis 29th March 2011.

Yours Sincerely

Andrew Hawker (BSc. Geol MAusIMM)Principal GeologistHawker Geological Services Pty Ltd

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Epsilon Resource Evaluation Statement - March 2011

HGS Australia Office: (08) 6201 9005 Fax: (08) 9302 4980 admin@hgsaustralia.com.auUnit 14 / 110 Inspiration Drive, Wangara, WA, 6065 Page 2

INTRODUCTION

At the request of David Reid, Chief Geologist at A1 Minerals Ltd, Hawker Geological ServicesPty Ltd (HGS) was asked to conduct a resource evaluation on the Epsilon Project (incorporatingthe Ben Hur and Kennecott deposits).

The Epsilon lease covered in this report is M38/339 located within the Shire of Laverton WAapproximately 35kms north of Laverton. It is held 100 percent by A1 Minerals and forms part ofA1’s BrightStar Project.

The resource was conducted in Surpac and interpolated using Ordinary Kriging from a datasetprovided by A1 Minerals, and operates on the assumption the database was valid.

Interpretations were conducted by Andrew Hawker identifying zones of continuousmineralisation within a statistically derived background of 0.2g/t boundary with a minimumdownhole width of 2 metres. Oxidisation horizons and bulk density data were provided by A1Minerals. Sample data was flagged within the interpreted wireframes and composited to 1 metrefor interpolation.

Fifteen mineralised zones were identified; 10 within the Ben Hur Prospect and 5 within theKennecott Prospect.

High grade cutting was conducted using probability curves and histograms conducted on datasetsfrom the major lodes as well as combining datasets. The following high grade cuts were applied: Ben Hur 27g/t Kennecott 11g/t

Dry bulk densities were applied to the model from data supplied by A1 Minerals. Table 1summarises the densities applied:

Table 1: Dry Bulk Densities applied to the block modelOxidation Profile DensityOxide 2.1Transition 2.3Fresh 2.6

The resource estimate was classified by Andrew Hawker based on data density, estimationquality, Kriging variance and interpolation pass. Although the resource lacks geologicalinterpretation, the continuity of data and assimilation with nearby resources is sufficient towarrant certain areas as indicated. Should the deposit contain sufficient geological interpretation,the classification may increase in areas to Measured.

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Epsilon Resource Evaluation Statement - March 2011

HGS Australia Office: (08) 6201 9005 Fax: (08) 9302 4980 admin@hgsaustralia.com.auUnit 14 / 110 Inspiration Drive, Wangara, WA, 6065 Page 3

RESULTS

The results are reported from Surpac block medel "benhur_march2011.mdl" and summarised inTable 1 and 2 below.

Table 1: Epsilon Project Classified ResourcekTonnes Grade kOunces

Inferred 3,212 1.38 142Indicated 3,435 1.32 146Measured 0 0.00 0Total 6,647 1.35 288

Table 2: Epsilon Project Resource by OxidationReportable Resource

Cutoff kTonnes Grade kOuncesOxide 0.4 1,604 1.16 60Transition 0.5 768 1.06 26Fresh 0.7 4,275 1.47 202Total 1.0 6,647 1.35 288

COMPLIANCE with the JORC CODE ASSESSMENT CRITERIA

The information in this report that relates to Exploration Results, Mineral Resources or OreReserves is based on information compiled by Mr Andrew James Hawker, who is a Member ofThe Australasian Institute of Mining and Metallurgy.

Mr Hawker has sufficient experience which is relevant to the style of mineralisation and type ofdeposit under consideration and to the activity which he is undertaking to qualify as aCompetent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting ofExploration Results, Mineral Resources and Ore Reserves’ (The JORC Code, 2004 Edition). Mr.Hawker is the Principal Geologist of Hawker Geological Services Pty Ltd and consents to theinclusion in the report of the matters based on his information in the form and context in whichit appears.

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