Maldon Gold Project (100%)

The Maldon project is located 30km southwest of Bendigo in central Victoria and has produced historically a total of 1.75 million ounces of gold at an average grade of 28 g/t.  Alliance undertook major development work at Maldon aimed at bringing the Alliance South gold lode into production, however, development was suspended late last year to conserve cash to meet Alliance's commitments to the Four Mile Uranium Project.  The decline and other mine infrastructure are fully maintained and the Project also includes an operational-ready CIL gold treatment plant.

On the 16 October 2009 Alliance entered an agreement to sell Maldon Resources Pty Ltd to Drummond Gold Ltd.  The agreement is subject to certain terms and conditions, including the approval of shareholders of Drummond, all necessary consents and approvals as required under the Corporations Act and the ASX Listing Rules, and the raising of at least $3,000,000 by Drummond.

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