Mirabela is a mineral exploration company with a portfolio of prospective nickel and other base metal targets in the Brazilian states of Bahia, Sergipe and Tocantins.

The company’s principal projects are:

• Santa Rita nickel sulphide project
• Serra Azul nickel saprolite resource (high grade nickel laterite)
• Palestina nickel sulphide exploration
• Sao Francisco nickel sulphide exploration

Mirabela Nickel discovered the Santa Rita nickel sulphide resource in 2004 and is now proceeding with its development. This is the largest nickel sulphide resource in South America and the largest greenfield nickel sulphide discovery in the world in the last 10 years.

Serra Azul is a nickel laterite resource with a high grade nickel component (saprolite). This resource appears amenable to smelting to produce a ferronickel product. The Company is currently assessing its options to either sell ore directly to a ferronickel smelter or possibly produce a low grade ferronickel on site.

The company also has several exploration projects. Palestina is a mafic/ultramafic intrusion with geology similar to Santa Rita and 25km to the south. Nickel sulphides have already been identified at Palestina, so it is considered a highly prospective exploration target.

Sao Francisco is an established exploration project that has already identified the presence of nickel and copper sulphides about 400km north of Santa Rita in the state of Sergipe. It is believed to have the potential for large tonnage, disseminated mineralization similar to Santa Rita.

Both the Sao Francisco and Santa Rita areas lie within the Sao Francisco craton that covers an area of 300 x 700km in eastern Brazil. Mirabela believes this craton is highly prospective for other nickel sulphide and laterite projects. Other base metal exploration projects within the Company's Brazil portfolio include Ponto Novo (nickel laterite) in Bahia.

Brazil is a country rich in history, people, culture and mining. It is South America’s leading economic powerhouse with a 2005 GDP of US$1.6 trillion, outweighing all other South American countries collectively.

Brazil has excellent infrastructure, geological potential and a supportive mining environment. Its metallic mineral sector, particularly iron ore and bauxite, produces more than US$4 billion a year. Home to CRVD, the world’s biggest iron ore producer, Brazil’s nickel production has trebled since 1998 but is poised for significant further growth as Mirabela proceeds with its Santa Rita project.