Southern drilling - More excellent results at Santa Rita



    Southern Deeps Drilling at Santa Rita

    PERTH, Western Australia, Sept. 28 /CNW/ - Mirabela Nickel Limited (the
"Company") (TSX - MNB, ASX - MBN) announced today that the Southern Deeps
drilling has produced the best intersections recorded at Santa Rita to date.
Drill hole MBS 427 returned a composite intersection of 156m at 0.88% Ni,
including a continuous interval of 109m at 0.90% Ni. It is pleasing that after
drilling over 400 holes at Santa Rita we are obtaining best ever results. The
recent results are:

    
                      --------------------------------------
                       Hole ID   From    Composite      Ni%
                                  (m)     downhole
                                        width (m)(1)
                      --------------------------------------
                       MBS-427    318       156        0.88
                       MBS-426    377        96        0.90
                       MBS-423    288        95        0.53
                       MBS-422    368        79        0.66
                       MBS-421    239        82        0.69
                       MBS-420    142        37        0.57
                       MBS-419    182        77        0.66
                       MBS-417    287        26        0.51
                       MBS-416    248        91        0.68
                       MBS-415     18        23        0.59
                       MBS-414    308        66        0.76
                       MBS-413    170        44        0.47
                       MBS-412    280        17        0.49
                       MBS-411    220       103        0.51
                       MBS-410    246        41        0.48
                      --------------------------------------
                       Hole ID   From    Composite      Ni%
                                  (m)     downhole
                                           width
                      --------------------------------------
                       MBS-409    141        41        0.61
                       MBS-408    289        34        0.87
                       MBS-406    161        39        0.74
                       MBS-404    146        28        0.60
                       MBS-403    307        20        0.59
                       MBS-402    114        46        0.45
                      --------------------------------------
                  0.4% Ni cut off grade, 4m minimum mining width
    

    High quality mineralization is repeated in drill hole MBS 426 (96m at
0.90% Ni) 30m north of MBS 427. Drill holes MBS 416 (91m at 0.68% Ni), MBS 421
(89m at 0.69% Ni) and MBS 419 (77m at 0.66% Ni) are respectively 45m, 90m and
130m to the south of MBS 427. These results demonstrate a thick, higher grade
zone below 200m vertical depth continuous across 5 sections of the Southern
zone. Much of this bonanza zone is wider than and below the existing pit
model.
    Drill holes MBS 411 (103m at 0.51% Ni) and MBS-423 (95m at 0.53% Ni) are
also encouraging as they are located at the south end of the Santa Rita body
and confirm that good mineralization extends to the southern most extents,
particularly below 150m vertical depth. Although the grades are lower in this
area the mineralization occurs within the pyroxenite unit which has less
non-sulphide nickel and therefore permits a higher nickel recovery.
    In light of these recent results further deep drilling is planned for the
southern end of the Southern zone. An initial program of 12 drill holes for
5,000m will commence shortly.
    To date the southern Central and Southern Deeps drilling programs have
returned an outstanding weighted average composite intersection of 62m at
0.70% Ni from 70 drill holes, of which 32 holes are subsequent to the 40%
resource upgrade announced in June 2007. There are assays outstanding from
another 4 drill holes that are expected within the week whereupon a resource
update is scheduled for completion during October and a mineable reserve
calculation by late November.

    South-East Extension Drilling - Discovery of New Zone of Mineralisation

    Drill results from the southern extent of Santa Rita indicated that the
mineralized zone bends sharply to the east rather than terminates as
previously thought. An initial program of 50 drill holes for 10,000m to target
the South-East extension area (and a line of coincident Cu-Ni soil anomalies
in the area) is already underway. To date we have drilled 19 holes for 4,000m.
    Drilling was re-orientated to the south to better intersect the
mineralization in this area which has an east-west strike. Drill holes on 3
sections along 150m of strike have intersected the Santa Rita sequence over
200m southeast of where we previously thought the mineralization terminated.
Initial visual sulphide estimates are encouraging. We expect to have first
results from the new South-East Extension drilling within 3 weeks.

    Peri Peri Exploration -

    Drilling at Peri Peri is complete for the time being. The final results
from recent drilling are:

    
                    ---------------------------------------
                     Hole ID   From (m)   Composite    Ni%
                                           downhole
                                           width(2)
                    ---------------------------------------
                     MBS-405     206          22      0.56
                     MBS-407     238          14      0.87
                    ---------------------------------------
                0.4% Ni cut off grade; 4m minimum mining width
    

    Attached are further details of the latest drilling results. An updated
schematic longsection showing the location of the latest results will be
posted on the Company's website www.mirabela.com.au. All assay results were
produced by ALS Chemex Laboratories.

    Note:

    The information in this news release that relates to Exploration Results,
Mineral Resources or Ore Reserves is based on information compiled by Nick
Poll, who is a Member of The Australasia Institute of Mining and Metallurgy
and a qualified person within the meaning of National Instrument 43-101. Nick
Poll is employed by Mirabela Nickel Ltd.
    Nick Poll has sufficient experience which is relevant to the style of
mineralization 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 for Reporting of Exploration Results,
Mineral Resources and Ore Reserve'. Nick Poll consents to the inclusion in the
report of the matters based on his information in the form and context in
which it appears.

    
                 Attachment 1: New significant intersections
                        - Indicated Resource Drilling
               (0.4% Ni cut off grade, 4m minimum mining width)
              --------------------------------------------------
               Hole ID   From   To (m)   Downhole    Ni%    Cu%
                          (m)            width(3)
              --------------------------------------------------
               MBS-402    114     120        6      0.50   0.18
               MBS-402    190     194        4      0.40   0.11
               MBS-402    234     244       10      0.45   0.14
               MBS-402    250     257        7      0.51   0.13
               MBS-402    288     293        5      0.46   0.08
               MBS-402    298     307        9      0.43   0.06
               MBS-402    315     320        5      0.43   0.06

               MBS 403    307     313        6      0.50   0.19
               MBS 403    353     360        7      0.70   0.22
               MBS 403    379     386        7      0.55   0.09

               MBS 404    146     156       10      0.40   0.16
               MBS 404    299     303        4      0.43   0.09
               MBS 404    321     335       14      0.80   0.20

               MBS 406    161     168        7      0.58   0.23
               MBS 406    226     230        4      0.67   0.17
               MBS 406    266     270        4      0.67   0.23
               MBS 406    286     292        6      0.63   0.19
               MBS 406    327     332        5      0.47   0.09
               MBS 406    346     359       13      1.03   0.23

               MBS 408    289     293        4      0.62   0.18
               MBS 408    328     348       20      1.03   0.19
               MBS 408    382     392       10      0.65   0.12

               MBS 409    141     145        4      0.48   0.18
               MBS 409    180     189        9      0.41   0.14
               MBS 409    193     197        4      0.51   0.15
               MBS 409    218     242       24      0.73   0.19

               MBS 410    246     256       10      0.45   0.14
               MBS 410    263     273       10      0.49   0.14
               MBS 410    279     288        9      0.46   0.15
               MBS 410    314     326       12      0.52   0.15

               MBS 411    220     229        9      0.42   0.19
               MBS 411    238     260       22      0.44   0.13
               MBS 411    270     308       38      0.50   0.15
               MBS 411    317     329       12      0.55   0.17
               MBS 411    344     362       18      0.65   0.16
               MBS 411    366     370        4      0.41   0.06

               MBS 412    280     289        9      0.50   0.22
               MBS 412    368     372        4      0.57   0.57
               MBS 412    389     393        4      0.40   0.06

               MBS 413    170     188       18      0.47   0.16
               MBS 413    210     230       20      0.48   0.15
               MBS 413    273     279        6      0.41   0.12

               MBS 414    308     312        4      0.49   0.20
               MBS 414    363     399       36      0.76   0.37
               MBS 414    415     419        4      0.41   0.04
               MBS 414    425     447       22      0.88   0.22

               MBS 415     18      23        5      0.46   0.19
               MBS 415     33      43       10      0.40   0.11
               MBS 415    185     193        8      0.92   0.25

               MBS 416    248     253        5      0.54   0.35
               MBS 416    265     269        4      0.40   0.15
               MBS 416    286     356       70      0.72   0.24
               MBS 416    403     410        7      0.62   0.20
               MBS 416    434     439        5      0.54   0.17

               MBS 417    287     301       14      0.54   0.24
               MBS 417    349     353        4      0.51   0.15
               MBS 417    394     398        4      0.44   0.12
               MBS 417    431     435        4      0.49   0.04

               MBS 419    182     193       11      0.47   0.16
               MBS 419    219     225        6      0.59   0.19
               MBS 419    269     295       26      0.57   0.17
               MBS 419    315     320        5      0.40   0.12
               MBS 419    352     359        7      0.84   0.30
               MBS 419    376     398       22      0.87   0.24

               MBS 420    142     146        4      0.41   0.17
               MBS 420    230     234        4      0.43   0.12
               MBS 420    252     267       15      0.56   0.19
               MBS 420    273     287       14      0.68   0.16


               MBS 421    239     251       12      0.43   0.17
               MBS 421    264     334       70      0.73   0.21
               MBS 422    368     372        4      0.54   0.24

               MBS 422    444     481       37      0.78   0.21
               MBS 422    487     505       18      0.60   0.24
               MBS 422    510     530       20      0.50   0.09

               MBS 423    288     297        9      0.50   0.16
               MBS 423    311     330       19      0.56   0.18
               MBS 423    340     344        4      0.47   0.16
               MBS 423    350     360       10      0.50   0.16
               MBS 423    369     377        8      0.48   0.14
               MBS 423    381     426       45      0.54   0.13

               MBS 426    377     445       68      1.03   0.34
               MBS 426    456     464        8      0.65   0.28
               MBS 426    469     485       16      0.53   0.16
               MBS 426    491     495        4      0.86   0.25

               MBS 427    318     342       24      0.75   0.29
               MBS 427    350     459      109      0.90   0.30
               MBS 427    463     486       23      0.93   0.32
               ------------------------------------------------


                 Attachment 2: New significant intersections
                       - Peri Peri Exploration Drilling
                           (0.4% Ni cut off grade)
               ------------------------------------------------
               Hole ID   From   To (m)   Downhole    Ni%    Cu%
                          (m)            width(4)
               ------------------------------------------------
               MBS 405    206     210        4      0.89   0.11
               MBS 405    242     249        7      0.43   0.17
               MBS 405    269     280       11      0.53   0.18

               MBS 407    238     242        4      0.40   0.08
               MBS 407    257     267       10      1.05   0.18
               ------------------------------------------------


                 Attachment 3:  Drill hole collar locations
    -------------------------------------------------------------------------
                            Survey                        Hole
    Hole ID  Hole type       type  Easting Northing  RL   Depth  Dip  Azimuth
    -------------------------------------------------------------------------
    MBS 402  Southern Deeps   TS   422835  8430150   143  320.00  60   270
    MBS 403  Southern Deeps   TS   422730  8430470   160  451.00  60   270
    MBS 404  Southern Deeps   TS   422850  8430190   141  361.00  60   270
    MBS 405  Peri Peri        TS   424404  8432124   135  310.00  60    45
    MBS 406  Southern Deeps   TS   422840  8430230   143  380.00  60   270
    MBS 407  Peri Peri        TS   424508  8432086   135  286.00  60    45
    MBS 408  Southern Deeps   TS   422710  8430505   163  424.00  60   270
    MBS 409  Southern Deeps   TS   422940  8430110   133  322.00  60   270
    MBS 410  Southern Deeps   TS   423080  8430030   135  366.30  60   270
    MBS 411  Southern Deeps   TS   423023  8430070   131  380.00  60   270
    MBS 412  Southern Deeps   TS   422735  8430540   158  451.00  60   270
    MBS 413  Southern Deeps   TS   423078  8429990   133  322.00  60   270
    MBS 414  Southern Deeps   TS   422715  8430650   168  458.85  60   270
    MBS 415  Southern Deeps   TS   422663  8430190   186  220.00  60   270
    MBS 416  Southern Deeps   TS   422840  8430355   144  450.00  60   270
    MBS 417  Southern Deeps   TS   422720  8430610   164  442.00  60   270
    MBS 419  Southern Deeps   TS   422830  8430270   143  400.00  60   270
    MBS 420  Southern Deeps   TS   422900  8430150   133  340.00  60   270
    MBS 421  Southern Deeps   TS   422830  8430310   143  401.00  60   270
    MBS 422  Southern Deeps   TS   422740  8430730   162  532.00  60   270
    MBS 423  Southern Deeps   TS   423090  8430070   135  445.00  60   270
    MBS 426  Southern Deeps   TS   422840  8430430   146  500.00  60   270
    MBS 427  Southern Deeps   TS   422840  8430400   145  499.00  60   270
    -------------------------------------------------------------------------
                     (1) TS - Total Station Survey Tool

    (1) The actual drilling intersections that are comprised in the composite
        downhole widths are shown in Attachment 1.
    (2) The actual drilling intersections that are comprised in the composite
        downhole widths are shown in Attachment 2.
    (3) The Company estimates that that true widths are 75% to 80% of the
        drilling intersections reported as downhole widths in the table
        above.
    (4) The Company estimates that that true widths are 75% to 80% of the
        drilling intersections reported as downhole widths in the table
        above.
    




For further information:

For further information: Nick Poll, Managing Director, MIRABELA NICKEL
LTD, Telephone: +61 8 9324 1177, Facsimile: +61 8 9324 2171,
www.mirabela.com.au, Email: info@mirabela.com.au, ASX Code: MBN, TSX Code:
MNB

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