Independent technical review of the Burnside, Union Reefs, Pine Creek and Maud Creek Gold Projects, Northern Territory, Australia, October 2005

Abstract

GBS Gold commissioned IEA to review the available information on the Greater Burnside and Maud Creek Projects and opine upon the rationale for the purchase and the future work programs of GBS, which involve the modification of the URGM plant to allow the processing of both refractory sulphide and free milling ore and the extraction of gold from ore mined from the Burnside JV tenements and the Maud Creek tenements. GBS Gold also commissioned Snowden to complete an independent technical report on the three main projects which make up the Greater Burnside Project, namely the Burnside, Union Reefs and Pine Creek Gold Projects. This Independent Technical Review report compiles the findings of both IEA and Snowden and describes the geology, history, exploration potential, mineral resources, ore reserves, operations and development potential of the combined Greater Burnside and Maud Creek Projects.