Laconia Resources Limited announced that the commencement of an exploration drill program on its 100% owned Kraaipan Gold-Nickel-Copper-PGM Project in southern Botswana. This drill program will consist of approximately 4,000 metres of drilling distributed across several high priority exploration targets. The priority exploration targets, KB01 and KB05 will be drilled first. Large, gold anomalous zones, such as NW001, NE001, CEN001 and NE003 will also be drill tested. As thesetargets are broad areas of gold anomalous soils, they will be tested by drilling shallow RC holes in lines across the best parts of the gold anomalous zones. Electromagnetic (EM) Target KB01 is a high quality EM anomaly that coincides with a north-northwest to south-southeast trending, relatively high magnetic anomaly, interpreted to be a Banded Iron Formation (BIF) rock unit. Detailed EM and 3D magnetic modelling of this exploration target found that the causative source of the EM anomaly coincides with a zone of decreased magnetisation within the overall north-northwest to south-southeast trending magnetic anomaly. This observation could indicate that this part of the interpreted BIF has been subjected to magnetite destruction via pyrrhotite/pyrite alteration associated with gold mineralisation. KB01 is also along strike of a gold anomalous zone of at least 1.4 kilometres long and up to 600 metres wide. EM Target KB05 is an EM anomaly that coincides with a north-south trending relatively high magnetic anomaly interpreted to be a BIF. Detailed EM and 3D magnetic modelling of this exploration target found that the causative source of the EM anomaly coincides with a zone of decreased magnetisation within the overall north-south trending relatively high magnetic anomaly. This observation could indicate that this part of the interpreted BIF has been subjected to magnetite destruction via pyrrhotite/pyrite alteration associated with gold mineralisation (i.e. Hill 50, Westralia, Bounty). Adding to the prospectivity of this exploration target is the observation that a northeast-southwest trending gold anomalous zone of at least 3km long and up to 150m wide, crosses the north-south trending relatively high magnetic anomaly exactly where EM Target KB05 is situated. As Laconia is still awaiting the assay results from the soil samples taken in the southern sector of the Kraaipan Gold-Nickel-Copper-PGM Project, exploration targets for this drill program from this area have not been finalised yet. As previously announced this area contains many prospective geophysical anomalies, such as KB13, KB14, KB16, KB17, KB20, KB21 and KB23. Any exploration targets defined in the southern sector will be ranked against existing exploration targets: NE002, NE004, CEN002, CEN003 and CEN004 and the highest ranked will also be drilled if the budget permits.