Regional soil geochemistry at the Yarrabubba JV Project near Meekatharra in Western Australia has defined 7 priority targets for nickel mineralization.

The Yarrabubba Project covers a large diameter meteorite impact structure that has similar geological features to those at the large Sudbury mining camp in Canada that has produced about 20% of the World’s nickel.

In addition one target each for gold, tin and porphyry molybdenum copper zinc style mineralization have also been identified. None of these 10 areas have been drilled. Selection of areas for drilling will be done in the March Quarter of 2010.

Impact Minerals has a 20% share of the Yarrabubba Project and is in Joint Venture with CITIC Nickel Australia Pty Ltd (60%) and four private investors (20%).

Impact Minerals' 20% owned Yarrabubba Project has all of the geological characteristics of the World Class Sudbury mining camp in Canada which has produced about 20% of the World’s nickel. It is generally accepted that a major meteorite impact occurred at Sudbury and that this gave rise to the many large nickel copper PGE deposits in that area.