Fifth combined annual report for EL 8279 Bintang and EL 8280 San Miguel 8 March 2003 to 7 March 2004

Abstract

This report details exploration undertaken by Santexco Pty Ltd (Santexco) a wholly owned subsidiary of Giants Reef Mining Limited (Giants Reef) on EL 8279 Bintang, and EL 8280 San Miguel, for the period from 8 March 2003 to 7 March 2004. On the 13 June 2001, Giants Reef Exploration Pty Ltd, a wholly owned subsidiary of Giants Reef Mining Limited, purchased all of the shares in Normandy Tennant Creek Pty Ltd (NTC) from Normandy Consolidated Gold Holdings Pty Ltd, a wholly owned subsidiary of Normandy Mining Limited. As a result of this, NTC is now a wholly owned subsidiary of Giants Reef and has had its name changed to Santexco Pty Ltd. Targets are ironstone-related gold-copper deposits Giants Reef has identified a magnetic anomaly in the northern block of EL 8279, and an undrilled magnetic target, the South Argo anomaly, has been identified in EL 8280. Magnetic modelling by Giants Reef of the South Argo anomaly indicates a depth to top of approximately 175 m for the causative magnetic body at South Argo. As a result of Giants Reefs exploration commitments being focused elsewhere in the goldfield, the proposed geophysical modelling and drilling program over the Licences was postponed for the 2003 field season. Giants Reef, through its subsidiary Santexco, plans to geophysically model the magnetic anomalies with warranted follow up RC drilling in the sixth tenure year.