Mount Ridley Mines Ltd. announced an exploration update of the Company's activities at its 100% owned Mt Ridley project. Drill hole MRDD018 has been completed at 732m downhole depth. The hole was terminated in barren homogenous gabbronorite. Due to hole deviation that resulted in the hole path steepening with depth, the hole passed down dip beneath the targeted EM plate by approximately 30m. The hole encountered an over-pressurised pocket of hypersaline water and clay in a fault at a downhole depth of 705m. The hole did not encounter any other geological features that would give a conductive response. Due to the positive overpressure and flowing water from the fault system encountered, it is not possible at this stage to conduct a downhole electromagnetic survey. MRDD018 was drilled down-dip of the EM plate modelled from MRDD016 and did not encounter any increased sulphide content, and has closed off the size potential for the conductive target. The decision has been made to cease drilling operations for the time being at Target 19. Efforts will be focused on the ongoing exploration programs following up on The Lake and Tyrrells target areas. An air core drilling bedrock geochemistry program and moving loop SAMSON electromagnetic survey has commenced at The Lake target. On completion of these surveys, air core drilling and moving loop SAMSON surveys will commence at Tyrrells target. The programs will then move through the other untested target areas identified from the combined magnetic and gravity anomaly data, commencing with Keith's, Marcellus, Winston and Vincent targets. Any anomaly targets identified from these programs will be followed up immediately with diamond drilling. Detailed gravity surveying along the gravity ridge to the southwest of Tyrrells is expected to recommence imminently. In addition, the detailed gravity survey will be extended to the northwest of the gravity ridge testing for Broken Hill type lead-zinc targets.