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• Extensive historic gold workings located over approximately 4km

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					January 16th 2007


            Encouraging Rock Chips from Tambourah Project

Cortona Resources Ltd (CRC) has received assay results for rock chip,
mullock   dump,     and   drill-chip   samples   collected   during   an   initial
reconnaissance of the Company’s Tambourah Project situated 85km SW of
Marble Bar in the Pilbara Region of WA.


          • Extensive historic gold workings located over approximately 4km
             of strike.
          • Numerous high grade rock samples, up to 58.5 g/t Au, returned.
          • Indications of base metal mineralisation.

The field work has confirmed the presence of intermittent historical workings
over a distance of ~4km. The workings include mine shafts and exploration
costeans, which typically range from 1m to 5m deep, although several are
estimated to go to 20m or more. The workings are centred on shear zones
and quartz veins in volcanic rocks that strike roughly parallel to the adjacent
N-S trending granite-greenstone contact.


A total of 89 samples were collected, and analysed by fire assay for gold and
base metals. Thirty-five samples returned gold assays >1.0g/t, while 9 of
those exceeded 10.0g/t Au. Best gold values include 58.5g/t, 52.1g/t, and
49.4g/t. One of the samples returned highly anomalous base metal results,
including 0.75% copper and 0.63% lead, with 38g/t silver.


The Company will now assess these promising results in context with
previous exploration, and the geology and mineralisation in the broader area,
in order to plan a follow-up program in the coming months.
Managing Director Peter van der Borgh said; “These gold results are very
promising and the base metal anomalism is certainly intriguing. In addition to
following up on these results we are about to commence a detailed structural
and geochemical program over the North Monger project in our quest for the
discovery of a Kanowna Belle style multi million ounce orebody near
Kalgoorlie. The existing North Monger resources will also be followed up with
RC drilling being planned to build on last year’s successes”.


Yours Faithfully




Peter van der Borgh
Managing Director


Competent Persons: The contents of this report that relate to geology and historical exploration are
based on information compiled by Mr Peter van der Borgh, who is a Professional Geologist and Fellow
of the Geological Society of London. He has sufficient experience relevant to the style of mineralisation
and types of deposit under consideration and to the activity being undertaken to qualify as a ‘Competent
Person’ as defined in the 2004 Edition of the Australasian Code for Reporting Results, Mineral
Resources and Ore Reserves. Peter van der Borgh consents to the inclusion in this report of the matters
compiled by him in the form and context in which they appear.
                                      726000 mE




                                                                                              728000 mE
7594000 mN                                                                                                 Granite
                                                                                                           Granite
    Po
    Po                                                                                                     Greenstone
                                                                                                           Greenstone
       rrtt
            H
            Heea
               addll
                    an
                   an                                          E    Brilliant
                                                                    Brilliant                      E       Historical Mine
                                                                                                           Historical Mine
                       d1
                      d1                             3.35                                                  CRC Rock chip
                                                                                                           CRC Rock chip
                          60
                         60
                             km
                            km                                                                             Selected rock chip
                                                                                                           Selected rock chip
                                                                                                      35.3 assays in g/t Au
                                                                                                           assays in g/t Au

                                                                                                           Access Road
                                                                                                           Access Road
                                                                                                           Tenement Boundary
                                                                                                           Tenement Boundary


                                                                   2.95 (+38g/t Ag, 0.75% Cu, 0.63% Pb)


                                                                4.20
7592000 mN                                         58.5            8.78
                            Tambourah King
                            Tambourah King    E 35.3                                                                 Ma
                                                                                                                     Ma
                                                                                                                       rrbl
                                   Western Chief E
                                                                                                                         bleeB
                                   Western Chief                                                                             Baarr
                                                                                                                                   12
                                                                                                                                   1200k
                                                                                                                                       km
                                                                   52.1                                                                  m
                                     Alexandria
                                     Alexandria             E
                                                                49.4




                                                                   8.95

                                                             E Kushmattie
                                                               Kushmattie




7590000 mN
                                                            E Victory Tambourah
                                                              Victory Tambourah




     200km




   PORT HEADLAND
                                  Marble Bar                                                         1km
                                                                                                     1km
                                                                                                    GDA94
                                                                                                   GDA94
            Tambourah
                                                  WESTERN                                          Zone 50
                                                                                                   Zone 50
7588000 mN                                        AUSTRALIA

				
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Description: • Extensive historic gold workings located over approximately 4km ...