Grouped Annual Report GR-097/09 for EL 9979, EL 24607, EL 26185, EL 26584, EL 26585, EL 26586, EL 26589, EL 28233, EL 26451 and EL 26452 Wonarah Phosphate Project for the period ending 8 January 2012

Abstract

This Combined Annual Report details work completed on EL 9979, EL 26584, EL 26585, EL 26586, EL 26589, EL 24607, EL 26185, EL 28233, EL 26451 and EL 26452 from 9 January 2011 to 8 January 2012. The tenements are held and operated by Minemakers Australia Pty Ltd and together with ML 27244, form the Wonarah Phosphate Project, with phosphate being the target commodity. An RC drilling program of 83 holes for 4797m and 1460 assays (including checks) was conducted both within the Main Zone and immediately to the north of the Main Zone in 2011. A program of yttrium analysis using RC chips from both this program and previous RC chips using a portable XRF machine was commenced. An update of the 2009 completed Mineral Resource estimation for Main Zone was completed with a total of 252 Mt Indicated at 18.2% P2O5 (10% P2O5 % cut-off) and 395Mt Inferred (18% P2O5 cut-off). The resource lies mostly within ML 27244 but extends onto both EL 26451 and EL 26452. Other reports completed by consultants comprised a review of metallurgical test work, enabling feasibility study, rehabilitation procedures manual and an exploration activities site audit. The work detailed in the consultant reports means that all titles were worked upon. The 2011 drill program increased the Main Zone JORC combined Inferred and Indicated Resource by 25% at 10% P2O5 cut-off to 647Mt at 18% P2O5. Hand-held XRF sampling to date has not delineated any significant zones of yttrium mineralisation.