AIMR Aim Res.

RNS Number:9573T
AIM Resources Limited
08 May 2008

                             AIM RESOURCES LIMITED



                                   8 May 2008



                              MUMBWA EXPLORATION

                               DRILLING UPDATE





Key Highlights:



*         Drilling commenced in February 2008 on proposed 15 hole program for
          approximately 10,500 metres.

*         Currently two drill rigs on site working double shifts, with proposal
          to introduce a third rig

*         Two holes complete:

      * S36-007, complete at 662 metres depth;
      * S36-009, complete at 791 metres depth.

*         Sampling program in progress:

      * 161 samples despatched to preparation laboratory.

*         Currently drilling holes S36-008 and S36-010.



AIM Resources Limited ("the Company", "AIM Resources") is pleased to provide the
following progress update for drilling at the Mumbwa Joint Venture Project in
Zambia.



Currently there are two rigs at Mumbwa which have completed drilling two holes,
S36-007 and S36-009.  Two holes, S36-008 and S36-010, are currently being
drilled.



Sampling of the completed holes is in progress, with a total of 261 samples
collected to date.  The first consignment of samples were despatched from site
in mid-April.  Initially the samples were to be prepared by a laboratory in
Johannesburg and analysed in Perth. However, the proposed sample turn around
time was not considered acceptable.



AH Knight International Ltd ("AH Knight"), who have a preparation laboratory in
Kitwe, Zambia and an analytical laboratory in Alaska, have been contracted to
complete the analysis of the samples.  The first shipment of 161 samples, taken
from drillhole S36-007, have been sent to the preparation laboratory in Kitwe,
and sample assay results are expected within approximately 8-10 weeks.



A second shipment of samples is being prepared from drillhole S36-009.  The
Company is currently requesting that efforts be made to fast track the
collection, transportation, preparation and processing rates for all the
samples.  The Company will report on results as they become available.



S36-007

Drillhole S36-007 was completed at a final depth of 662 metres, from a target
depth of 700 metres.  The hole was drilled at an angle of 70 degrees towards the
east, and the collar location is situated approximately 400 metres
north-northeast from S36-001, which was drilled in 2007 with encouraging
results.  A total of 259 samples of core were collected, and 161 of these were
despatched in April 2008 to the AH Knight laboratory.  Additional samples will
be despatched in batches containing 100 samples.



It was reported that the drill hole intersected variably weathered, altered and
brecciated quartz porphyry.  No visible sulphides were observed, however
possible secondary copper mineralisation may be present within hematite rich
breccia between 140 metres and 359 metres depth.

S36-009

Drillhole S36-009 was completed to a final depth of 791 metres, from a target
depth of 700 metres.  A decision was made to extend the drill hole beyond the
target depth, as geological observations indicated that copper mineralisation
was intersected at the bottom of the hole.  The hole was drilled at an angle of
70 degrees towards the east, and the collar location is situated approximately
400 metres north-northwest from S36-001.



The drill hole intersected variably altered quartz porphyry and porphyritic
syenite.  Some minor malachite, copper sulphide (chalcopyrite and possibly
bornite) and some native copper was identified.  Sampling of this hole is
progressing, and samples are to be despatched upon completion.



Exploration Program - Background

In 2004/2005, AIM Resources commissioned a FalconTM gravity gradiometer survey,
as well as a high resolution aeromagnetic and radiometric survey over the Mumbwa
lease area.  Subsequently in 2005/2006, the gravity potential field data were
modelled with 3D inversions using BHP Billiton's propriety SolidEarthTM
software.  The gravity potential field data were modelled with 3D inversions,
after which both data and inversion models were subject to a neural analysis.
Eleven anomalies were identified, and 11 drill holes constituting 5,700 metres
were proposed for drilling during 2006/2007.



In 2006/2007, the first phase of drilling was conducted on the Mumbwa joint
venture project, drilling eight holes for a total of 4,105.17 metres.  Of the
remaining three holes planned, two were abandoned after the first hole on that
anomaly yielded disappointing results, whilst poor drilling progress precluded
drilling of the final drill hole before heavy seasonal rains commenced.



A single drillhole, S36-001, displayed some encouraging mineralization,
intercepting 42 metres at 2.01% copper, which includes a high grade zone of 4
metres at 5.56% copper.



Phase 2 Drilling Program -2008

In January 2008, it was announced that the Company was engaging three drill rigs
to drill 13 proposed holes, totalling 9,100 metres.  Field staff were mobilised
to the Mumbwa site in January 2008 to establish base camp and prepare access
tracks and drill sites for the program.  At the commencement of the program, a
series of six water bores were drilled to source water for further drilling
activities.  Four of the holes were equipped with pumps to extract water into a
20,000 litre centrally located reservoir.  The arrival of the third drilling rig
was delayed until the program was well underway and the supply of water for the
program was available.



During February 2008, a decision was made to increase the program to drill
approximately 15 holes for a proposed total of 10,500 metres.  The order in
which the holes are to be drilled will be evaluated as the program advances.





Should you require further information please contact:



Bill Cash

Chief Executive Officer

Ph: + 61 2 9357 9000



Scott Lowe

Chief Operating Officer

Ph: + 61 2 9357 9000



Fiona Owen

Grant Thornton Corporate Finance

Ph: +44 20 7383 5100




ATTRIBUTION        The information in this report which relates to Exploration Results at the Mumbwa
                   Copper-Gold Project has been reviewed and approved for release by Mr Michael J Robertson,
                   MSc, Pr.Sci.Nat., MSAIMM who has 20 years experience in mineral exploration, and who is a
                   full-time employee of MSA Geoservices and has sufficient experience in relation to the
                   style of mineralisation and type of deposit under consideration to qualify as a Competent
                   Person as defined by the "Australasian Code for Reporting of Exploration Results, Mineral
                   Resources and Ore Reserves" (The JORC Code 2004 Edition) and as a Qualified Person under
                   the AIM Rules. Mr Robertson has consented to inclusion of this information in the form and
                   context in which it appears.





                            www.aimresources.com.au




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