Pluton Resources Limited (ASX:PLV) Completed The First Drill Hole At Cethana Drilling Program

Melbourne, June 24, 2010 AEST (ABN Newswire) - Pluton Resources Limited ("Pluton") (ASX:PLV) advises that the first drill hole (CETD3) in the current drilling program at the Cethana tenement (EL29/2006) in North West Tasmania has been completed.

The current two-hole diamond drilling program is targeting porphyry-style copper/gold.

The first drill hole of the program (CETD3) has been completed and was terminated at 373m after intersecting the Campbell's Reward chargeability anomaly at Cethana.

The chargeability anomaly is characterised by disseminated pyrite and chalcopyrite mineralisation from 253.5-278m, with stronger chalcopyrite mineralisation from 265-278m.

The chargeability zone is also a strong alteration feature with peripheral volcanic rocks altered to chlorite and epidote (propylitic alteration) and the mineralised zone containing higher grade biotite alteration suggesting proximity to a mineralised source.

The potential source of the mineralisation found in CETD3 will be targeted at depth some 300m east by drill hole CETD4, which will commence this week.

Managing Director Tony Schoer said; "We are very encouraged by the strong chalcopyrite mineralisation seen in the core of CETD3. All the indicators suggest we are close to the mineralised source, and the next hole will target where we believe that source may be."

Ownership of the Cethana Joint Venture is:

Pluton Resources Limited: 60%
Gujarat NRE Coking Coal Limited (ASX:GNM): 30%
Metalstocks Australia Pty Ltd
and John McDougall 10%
For the complete Pluton Resources Limited announcement including figures, please view the following link:

http://www.abnnewswire.net/media/en/docs/63163-ASX-PLV-337961.pdf

Contact

Mr. Tony Schoer Managing Director and Chief Executive Officer Pluton Resources Limited Tel: +61-3-9820-3802 Mob: +61-411-232-711 Email: tschoer@plutonresources.com www.plutonresources.com