MARKET REPORT

Share Price (VRE)

Ex Rate (AUD)

Nickel Price/t (USD)

Nickel Price/t (AUD)

Gold Price/oz (USD)

Gold Price/oz (AUD)

0 c

0.6312

9650.00

15288.34

801.45

1269.72

STOCK PRICE GRAPH

VIEW RESOURCES LTD: RESOURCE AND RESERVE STATEMENT.
The following resource and reserve estimates are current as at the 30 June 2007.

CARNILYA HILL NICKEL

• No measured resources have been defined.
• Resources are inclusive of reserves
• No nickel reserves currently exist for the Zone 29 deposit.
• Resources and reserves are stated on a 100% basis (View Resources equity 30%, Mincor Resources 70%).
• Resources and reserves are reported above a 1% Ni cut-off.

Table 1 Undiluted Resources, 30 June 2007

Footnotes to nickel resource statement
† Resource estimates for Carnilya Hill and Zone 29 East are as reported by Mincor Resources in an ASX release dated 29 March 2007, entitled "Mincor Delivers 16,100 Tonnes Nickel Resource at Carnilya Hill".

† Tonnes are rounded to the nearest hundred, grades are rounded to the nearest 0.1%. Some rounding errors may apply.

† View percentage interest of total insitu contained nickel in resources is 5,370 tonnes.

Table 2 Nickel Reserves, 30 June 2007

Footnotes to nickel reserve statement
† Reserve estimates for Carnilya Hill are as reported by Mincor  Resources in an ASX release dated 12 June 2007, entitled "Mincor approves $28M Carnilya Hill Nickel Mine Development".

† Tonnes are rounded to the nearest hundred, grades are rounded to the nearest 0.1%.Some rounding errors may apply.

† View percentage interest of total insitu contained nickel in reserves is 4,200 tonnes.

BRONZEWING GOLD

Table 3 Gold Resources – 31 December 2007

 Footnotes to resource section :        

† Cockburn Open Pit. Based on an MIK(multiple indicator kriged) interpolated mineral resource estimate prepared by RSG Global in May 2006, constrained by a >0.7g/t cut-off and contained within a A$775/oz gold price optimised shell, inclusive  of variable costs estimated in August 2006 (RSG Global optimisation study undertaken August 2006).

† Success Open Pit. Based on an OK(ordinary kriged) interpolated mineral resource estimate prepared by Golder Associates in October 2006, constrained by a >1.0g/t cut-off and contained within a A$800/oz gold price optimised shell, inclusive  of variable costs estimated in October 2006 (Golder Associates optimisation study undertaken October 2006). Resources have been further depleted by View Resources production till the end of December 2007.

† Challenger South Open Pit.  Based on a Newmont Australia OK (ordinary kriged) interpolated mineral resource estimate prepared in December 2002, with JORC compliant resource classification applied by View Resources in November 2007 (model name Challsouth_vre_Nov07). The estimate was validated by CSA Australia in December 2007. Mineral Resources are reported to a >0.7g/t cut-off, contained within an A$850/oz gold price optimised shell inclusive of variable costs estimated in November 2007 (Coffey Mining optimisation study undertaken November 2007).

† Corboys Advanced Project. Based on an OK(ordinary kriged) interpolated mineral resource estimate prepared in October 2007 by CSA Australia, inclusive of View Resources infill RC drilling campaign of 190 RC holes and 4 geotechnical core holes, undertaken in early 2007. Mineral resources are constrained by a >1.0g/t cut-off.

† Discovery Underground.  Based on a review of remaining mineral resources available for remnant mining, undertaken by View Resources technical staff in November 2007. The remaining resources were evaluated within the framework of the Newmont Australia OK interpolated mineral resource estimate prepared in December 2002, depleted and reported by Newmont Australia in December 2003 prior to mine closure (model name brwgc1202_min07). The estimate was updated to incorporate new development undertaken by View Resources, and incorporated updated geotechnical and mining constraints based on conditions exposed when the mine was reopened for inspection. Resources have been further depleted by View Resources production till the end of December 2007.

† Cockburn Underground. Based on an OK (ordinary kriged) interpolated mineral resource estimate prepared by RSG Global in March 2006, constrained by a >3.0g/t cut-off. The resource base reported here differs from that previously reported as it includes all mineralisation, as reported by RSG Global, rather than simply that portion of the dilutesd resource reporting within the planned underground mine plan. These resources have been further depleted by View Resources production till the end of December 2007. The primary ore development undertaken by View Resources during 2007 has exposed sufficient geology to upgrade classification confidence and to now allow incorporation of the inferred component of the RSG March 2006 estimate into this statement.

† Tonnes are rounded to the nearest 1,000. Grades are rounded to the nearest 0.1g/t Gold. Ounces are rounded to the nearest 100.Some rounding errors may apply.

Competent Persons Statement - Resources:

The information in this report that relates to Mineral Resources is based on information compiled by Colin Arthur, who is a Chartered Geologist, Member of The Australasian Institute of Mining and Metallurgy and Fellow of the Geology Society of London.

Colin Arthur is a full-time employee of View Resources Ltd in the capacity of Senior Resource Geologist. Colin Arthur has over fifteen years experience in this style of mineralization and the type of deposit under consideration and related mining method and project evaluation. He has sufficient experience which is relevant to the style of mineralisation and to the activity which he is undertaking. He is therefore qualified as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. 

Colin Arthur consents to the inclusion in the report of the matters, based on his information in the form and context in which it appears”.

Table 4 Gold Reserves – 30 June 2007

Footnotes to reserves:
† Tonnes are rounded to the nearest 1,000. Grades are rounded to the nearest 0.1g/t. Some rounding errors may apply to the totals.

†Reserves at Discovery underground, Cockburn underground, Central open pit and Venus open pit have been depleted by mine production to end June 2007.
† The Cockburn open pit and underground reserve estimates are as detailed in an announcement dated 1 August 2006 entitled "View Resources Upgrades Gold Reserves - Focus on Bronzewing is Delivering Results".
† The Bronzewing Discovery Underground reserve estimate is as detailed in an ASX announcement dated 11 April 2007 entitled "62,000 ounces added to Bronzewing Reserve".

† The Central open pit reserve estimate is based on a revised Whittle 4X optimisation and pit design completed using a $800 gold price and as detailed in an ASX announcement dated 11 April 2007 entitled "62,000 ounces Added to Bronzewing Reserve".

† The Venus open pit reserve is detailed in an announcement dated 22 September 2006 and entitled "14,000 ounce Gold Probable Reserve at Venus Adds Value to Bronzewing Project".
† The Success open pit reserve estimate is that reported in an ASX announcement dated 20 October 2006 entitled "20,000 ounce Gold Probable Reserve at Success Adds Further Value to Bronzewing Project".
† Stockpile reserves are based on information compiled by Mr Tim Gooch who is a full-time employee of View Resources. Stockpiles have been depleted for production.

All persons contributing to the resource and reserve statements are members or fellows of the Australian Institute of Mining and Metallurgy or the Australian Institute of Geoscientists and have sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activity which they are 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 Reserves’. All persons mentioned consent to the inclusion in the report of the matter based on his information in the form and context in which it appears.

Corboys Resources Estimate

Challenger South Resource Estimate

Challenger South Consent Form