Archer Exploration Limited announced high grade graphite and cobalt results from assaying of previous drilling undertaken by others on Archer's Cockabidnie tenement located near Cleve, Central Eyre Peninsula, South Australia. The Cockabidnie tenement abuts Archer owned farm land to the south. This tenement is 100% owned by Archer and is not included as part of Cobalt Bull joint venture proposal. The drill holes assayed by Archer are located approximately 5km south of the Company's proposed Sugarloaf Graphite Processing Facility and confirm the southern extension of the Sugarloaf deposit. The Sugarloaf deposit contains an Exploration Target of 60 - 90 million tonnes at a grade of 10 - 12% TC (ASX announcement 09/08/16). Investors should be aware that the potential quantities and grades presented in the Exploration Target quoted above and elsewhere in this announcement are conceptual in nature, there has been insufficient exploration to define an overall Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.