Adelaide Resources Limited is a South Australian based minerals exploration company which was floated in late 1996 with the primary objective of becoming a profitable mining and exploration company. It has 57.3 million shares on issue, no listed options and about 1100 shareholders. Cash and liquid investments of $2.2 million. The Company has a highly experienced minerals exploration team including its three directors who are substantial shareholders. The directors have extensive experience in the minerals industry, with each having been involved in the exploration, discovery, development, production and financial aspects of the mining industry in the past. Its principal assets are copper and gold projects within extensive tenements on the Gawler Craton of South Australia. These include a Joint Venture Newmont on the the Eyre Peninsula Project, Phelps Dodge/Red Metal over the historic Moonta-Wallaroo copper-gold district on the Yorke Peninsula and with Perilya Limited over ground less than 5 km from the exciting Prominent Hill discovery. Adelaide Resources recognises the rights of landowners and that other parties have strong legitimate interests in the land held under mineral tenements by the Company. Adelaide Resources therefore seeks to engender sound and respectful relationships with agricultural landowners, aboriginal landowners and claimants, and environmental parties with interests in the land.