Year 9 annual report for EL 9058 'Nimue'16th May 2004 to 15th May 2005

Abstract

In late September 2003, Striker Resources NL (Striker) entered into a 'Letter of Intent' with Rio Tinto Exploration Pty Ltd (RTE) with respect to the Merlin Orbit Exploration Tenements, which surround the decommissioned Merlin Diamond Mine in the Batten region of the Northern Territory. The Merlin Orbit properties consist of six granted tenements, namely EL9058, 9768, 9840, 9893, 10189, 22101 and one exploration licence application 24192 totalling approximately 1,800 km2. The tenements were held by Ashton Mining Limited (Ashton) (a wholly owned subsidiary of the Rio Tinto Group 'Rio Tinto'). On the 28th June 2004, the tenements, including EL9058, were transferred to Bulgurri Diamonds Pty Ltd (a wholly owned subsidiary of Striker Resources NL). Striker acquired a 100% interest in the licences. Striker is now the operator of the licences. Striker has agreed with RTE to honour all existing commitments and arrangements that RTE has entered into with respect to the exploration licences. Due to negotiations between Striker and RTE on the formalities of the 'Letter Of Intent', no field-based diamond exploration was conducted during the reporting period between 16th May 2004 and 15th May 2005, for diamond-bearing kimberlite intrusives. Exploration, however, did involve a detailed desktop review and analysis of previous sampling results identifying target areas for follow-up during the 2005 - 2006 field season.