RECORD NORSEMAN PRODUCTION GIVES $5.0 MILLION PROFIT FOR CROESUS Croesus Mining announced today a first half net profit of $5.0 million on the back of half year gold production of 112,705 ounces at a cash cost of $379 per ounce. Norseman operations produced record half year gold production of 73,382 ounces @ $337 per ounce. Croesus also announced results of drilling from the Company’s Norseman operation suggesting that the recently established record Ore Reserve position of 532,000 ounces for Norseman will likely be added to. Ore Reserves at Norseman have increased to 532,000 ounces. This is the highest Reserve level established in the 70-year history of the Norseman operations. The Company’s cash reserves remained strong at $19.4 million, following the $3.3 million dividend paid in November and a further $7.1 million spent on exploration and development activities during the six months to December 2005. In addition Croesus’ investment portfolio was valued at approximately $5
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