Perth, April 27, 2012 (ABN Newswire) - Padang Resources Limited (ASX:PXR) is pleased to announce that it has commenced a two (2) stage technical due diligence program on the Paser Project, East Kalimantan.

The technical due diligence (Stage 1) is aimed at the following:

- Collating and validating previous exploration data (topographical, outcrop and borehole surveys, coal quality and civil infrastructure plans, etc.);

- Completing a geophysical survey to map the vertical and lateral distribution of the coal seams in 2D/3D format and profile the resistivity of coal and other soil layers in the ground; and

- Providing an initial coal resource estimate.

Based on a positive outcome from Stage 1, the Company will plan and implement a drilling program to define a JORC compliant resource.

Next steps

Padang will keep shareholders informed of any material developments regarding the Due Diligence process on the Paser Project.


Link: http://www.abnnewswire.net/media/en/docs/ASX-PXR-587036.pdf

About Padang Resources Limited:

Padang Resources Limited (ASX:PXR) (formerly Palace Resources Limited) aims to create a sustainable exploration and development business focused on resource opportunities in the Indonesian resource rich region. Padang Resources has a strong management team which has a track record of acquiring and developing mineral projects in the Asia Pacific region. Padang Resources is aggressively exploring and developing resources in the south-east Asia region, particularly Indonesia.

Source:

Padang Resources Limited

Contact:
Padang Resources Limited
T: +61-8-9429-2908
WWW: www.padangresources.com.au