3rd Annual report for EL 10349 (Bush Turkey) & EL 10356 (Finch), Gardiner 2 Agreement, 17th October 2003 to 16th October 2004

Abstract

Exploration Licences 10349 (Bush Turkey) & 10356 (Finch) were granted to Otter Gold NL on the 17th of October 2001, for a period of six years. EL 10349 & 10356 are located some 80km and 55km north west respectively of the Tanami Mine. This is the third year of tenure. Both tenements are part of the Gardiner 2 Agreement between Otter Gold NL and the Traditional Owners. Work during the third year of tenure included a review of data to assess the exploration potential of EL10349 & EL10356 to budget for work in the 2005 field season. Work concentrated on interpretation and mapping as part of a new structural interpretation of the Tanami region by 'RSG' (Brett Davies) - this is a major strategic review of the Tanami Region for Newmont Exploration. During October of 2003 a decision was made to reduce EL10349 ground from 244 blocks (742km2) to approximately 175 blocks (532km2). During October of 2003 a decision was made to reduce EL10356 ground from 13 blocks (42km2) to 5 blocks (16km2).