Mirabela Nickel's Southern Deep Drilling Produces More Positive Results



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES./

    TSX: MNB, ASX: MBN

    PERTH, AUSTRALIA, June 13 /CNW/ - Mirabela Nickel Limited (TSX: MNB,
ASX: MBN) is pleased to announce the following drilling results.

    Southern Deeps

    The Southern Deeps drilling program at the Santa Rita Project continues
to return excellent, thick composite intersections. Drill hole MBS 352
returned an outstanding composite intersection of 111m at 0.74% Ni. The recent
results are as follows:

    
    -------------------------------------------------------------------------
    Hole ID         From (m)          Composite downhole width           Ni%
    -------------------------------------------------------------------------
    MBS 339(1)        311                        55                     0.78
    MBS 345           100                        26                     0.59
    MBS 349(1)        336                        36                     0.65
    MBS 351           182                        49                     0.67
    MBS 352           207                       111                     0.74
    MBS 353           108                        44                     0.51
    MBS 355           159                        93                     0.68
    MBS 356           148                        64                     0.51
    MBS 358           170                        64                     0.47
    MBS 359           111                        38                     0.48
    -------------------------------------------------------------------------
               0.4% Ni cut off grade, 4m minimum mining width
                         (1) From Central Deeps area
    

    The Southern Deeps drilling extends well beyond the boundaries of the
current in-pit resource estimate. The program to date has returned a weighted
average composite intersection of 59m grading 0.68% Ni from 19 drill holes.
Full details of the latest results are set out in Attachments 1 and 2.
Mineralisation in the Southern Deeps tends to be more spread out with an
average of 6 separate ore grade intersections per hole compared with 3 per
hole in the Northern and Central zones. An updated schematic long section for
Santa Rita showing the location of the latest results will be lodged on the
Company's website: www.mirabela.com.au.
    These results demonstrate that the grade and composite width of
mineralisation in the Southern zone improves with depth, as previous shallower
drilling in this area produced relatively patchy results. Also, it appears the
mineralisation is flatter dipping in the Southern zone, enabling relatively
more mineralisation to be accessed by open-cut mining. In addition, the
proportion of pyroxenite-hosted mineralization in the Southern zone is higher
than in the Central and Northern zones of the resource. This is positive, as
the pyroxenite unit has less non-sulphidic nickel than the other types of host
mineralization and therefore permits a higher nickel recovery.
    Due to these favourable results the Southern Deeps drilling program is to
be extended. The Company is planning another 22 holes for 8,500m in the
Southern Deeps and the southern half of the Central Deeps.
    All samples were collected in accordance with industry standards and were
submitted to ALS Chemex Ltd, who has acted as the Company's principal
analytical laboratory. Sample preparation was completed in Brazil and ALS
Chemex's analytical laboratory in Vancouver, Canada assayed the pulps. Umpire
assay checks were also completed by ACME Analytical Laboratory Ltd in
Vancouver, Canada.

    Peri Peri Exploration

    Drilling has recommenced at the Peri Peri target with a new +1,800m drill
program underway. The new program will test the reinterpretation of the
north-western extent of the body that is coincident with an IP anomaly. Deeper
drilling is designed to test the disseminated and matrix style mineralization
down dip within the pyroxenite and basement footwall host rocks.

    New Santa Rita Resource Estimates

    The Company is in the final stages of completing an updated global
resource estimate for the Santa Rita deposit and a revised estimate of the
optimal resource within open-pit limits. An announcement will be made shortly.

    Additional information relating to Mirabela is available on the Company's
website at www.mirabela.com.au.

    Technical information in this news release has been reviewed by Nick
Poll, the Company's Chief Executive Officer. Mr. Poll is a member of the
Australasian Institute of Mining and Metallurgy, and has sufficient
experience, which is relevant to the style of mineralization and type of
deposit under consideration, and to the activity he is undertaking, to qualify
as a Competent Person as defined in the 2004 Edition of the 'Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserve' and a
Qualified Person in terms of Canadian National Instrument 43-101. Mr. Poll
consents to the inclusion of such information in this news release in the form
and context in which it appears.

    
    Attachment 1: New significant intersections - Southern and Central Deeps
                                   Drilling
               (0.4% Ni cut off grade, 4m minimum mining width)

    -------------------------------------------------------------------------
                                                 Downhole
    Hole ID                From (m)    To (m)     width       Ni%        Cu%
    -------------------------------------------------------------------------
    MBS 339                  311        358         47       0.84       0.20
    MBS 339                  363        367          4       0.40       0.06
    MBS 339                  371        375          4       0.52       0.09

    MBS 345                  100        104          4       0.46       0.22
    MBS 345                  177        181          4       0.77       0.19
    MBS 345                  196        200          4       0.60       0.13
    MBS 345                  238        242          4       0.57       0.13
    MBS 345                  279        283          4       0.70       0.14
    MBS 345                  287        293          6       0.49       0.10

    MBS 349                  336        355         19       0.81       0.20
    MBS 349                  359        370         11       0.51       0.10
    MBS 349                  375        381          6       0.42       0.06

    MBS 351                  182        207         25       0.58       0.18
    MBS 351                  218        222          4       0.94       0.25
    MBS 351                  259        263          4       0.42       0.12
    MBS 351                  303        314         11       0.78       0.21
    MBS 351                  331        336          5       0.85       0.16

    MBS 352                  207        217         10       0.55       0.21
    MBS 352                  230        236          6       0.60       0.21
    MBS 352                  241        245          4       0.50       0.18
    MBS 352                  271        327         56       0.82       0.24
    MBS 352                  338        353         15       0.85       0.32
    MBS 352                  377        383          6       0.49       0.12
    MBS 352                  391        397          6       0.84       0.25
    MBS 352                  416        424          8       0.49       0.08

    MBS 353                  108        120         12       0.44       0.16
    MBS 353                  158        162          4       0.49       0.13
    MBS 353                  176        181          5       0.60       0.20
    MBS 353                  203        209          6       0.67       0.19
    MBS 353                  213        223         10       0.44       0.12
    MBS 353                  230        237          7       0.52       0.13

    MBS 355                  159        170         11       0.45       0.19
    MBS 355                  198        259         61       0.70       0.21
    MBS 355                  293        297          4       0.44       0.11
    MBS 355                  316        324          8       0.48       0.12
    MBS 355                  349        358          9       1.11       0.24

    MBS 356                  148        159         11       0.42       0.13
    MBS 356                  182        186          4       0.44       0.12
    MBS 356                  192        204         12       0.50       0.17
    MBS 356                  218        229         11       0.49       0.14
    MBS 356                  233        249         16       0.62       0.20
    MBS 356                  253        257          4       0.44       0.12
    MBS 356                  268        274          6       0.53       0.13

    MBS 358                  170        177          7       0.47       0.19
    MBS 358                  187        195          8       0.43       0.16
    MBS 358                  200        210         10       0.47       0.13
    MBS 358                  216        237         21       0.45       0.12
    MBS 358                  241        245          4       0.76       0.15
    MBS 358                  259        273         14       0.44       0.10

    MBS 359                  111        115          4       0.42       0.19
    MBS 359                  118        122          4       0.43       0.15
    MBS 359                  153        161          8       0.41       0.12
    MBS 359                  234        238          4       0.50       0.14
    MBS 359                  272        286         14       0.55       0.15
    MBS 359                  295        299          4       0.50       0.11
    -------------------------------------------------------------------------



                  Attachment 2: Drill hole collar locations

    -------------------------------------------------------------------------
                        Survey                            Hole
    Hole ID  Hole type   type   Easting  Northing   RL   Depth  Dip  Azimuth
    -------------------------------------------------------------------------
    MBS 339   Resource   TS(1)   422630   8430975  198   391.0  -60      270
    MBS 345   Resource   TS      422794   8430190  154   310.0  -60      270
    MBS 349   Resource   TS      422640   8431025  190   391.0  -60      270
    MBS 351   Resource   TS      422763   8430270  157   352.4  -60      270
    MBS 352   Resource   TS      422775   8430355  154   424.0  -60      270
    MBS 353   Resource   TS      422870   8430110  139   352.5  -60      270
    MBS 355   Resource   TS      422763   8430310  154   372.0  -60      270
    MBS 356   Resource   TS      422953   8430070  133   400.6  -60      270
    MBS 358   Resource   TS      423003   8430030  131   400.0  -60      270
    MBS 359   Resource   TS      422778   8430230  153   352.5  -60      270
    -------------------------------------------------------------------------
                     (1) TS - Total Station Survey Tool
    





For further information:

For further information: Stephen Hills, Chief Financial Officer,
Telephone: +61 8 9324 1177

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Mirabela Nickel Ltd.

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