ASPIRE MINING LIMITED — Capital/Financing Update 2010

Aug 17, 2010

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ASX Release ASX code: EMU 18 August 2010

2nd Floor, 16 Ord St West Perth WA 6005 PO Box 1112 West Perth WA 6872 Telephone 08 9226 4266 Facsimile 08 9485 2840 info@emunickel.com.au www.emunickel.com.au

ABN 50 127 291 927

WINDY KNOB VMS EM AND DRILLING IN PROGRESS

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Emu Nickel is continuing to advance its exploration at Windy Knob situated 55km south of Meekatharra and adjacent to the Austin copper-zinc-gold-silver discovery of Silver Swan Group.

A fixed loop EM survey has just been completed immediately east of the Austin volcanogenic massive sulphide (VMS) discovery where drilling and down hole EM surveys by Silver Swan indicate that the massive sulphide bodies are plunging ENE towards the Emu Nickel (51%) - Aspire Mining (49%) joint venture tenement boundary which is now less than 200m from the recent drill intercepts. The ground EM survey is configured to identify conductors at depth in order to test for extensions of the Austin VMS system on to the joint venture tenements and to provide targets for drilling. Interpretation of the ground EM results is in progress.

In the meantime a 5-hole, 1250m RC drilling programme has commenced on three targets near Austin as shown in Figure 1, being drilling:

• at Defiance, some 2.2km ENE of Austin, to test at depth anomalous copper and zinc values associated with silica-magnetite attraction intersected in previous shallow drilling, as shown in Figure 2;

• at 4E to will test pronounced aeromagnetic features similar to that at Austin; and

• Austin South (only 1.5km south of Austin) will test pronounced aeromagnetic features similar to that at Austin.

This drilling is scheduled to be completed by the end of August.

For more information on the company visit www.emunickel.com.au

Please direct enquiries to:
George Sakalidis	Roger Thomson
Managing Director	Executive Director
Phone (08) 9226 4266	Phone (08) 9226 4266
Mob 0411 640 337	Mob 0419 969 183

The information in this report that relates to exploration results is based on information compiled or reviewed by Roger Thomson BSc, ARSM, MAusIMM, who is a Member of the Australian Institute of Geoscientists. Roger Thomson is a director of Emu Nickel NL. Roger Thomson 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 of Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Roger Thomson consents to the inclusion of this information in the form and context in which it appears in this report.

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Figure 1 Windy Knob Aeromagnetics and Drill Targets

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Figure 2 Defiance Cross Section