Partial relinquishment report for EL 10316 Reward period 22 July 2006 to 21 July 2007

Abstract

This report presents the exploration completed by North Mining Limited (North) and Anglo American Exploration Australia Pty Ltd (Anglo American) within the relinquished portion of Exploration Licence (EL) 10316 Reward for period 22nd July 2006 to 21st July 2007. EL 10316 Reward is located within the McArthur Basin, approximately 50 km southwest of Borroloola, on the Bauhinia Downs SE53-03 1:250,000 map sheet. It was granted to North on 22nd July 2002 for a period of six years. A waiver of reduction in area of EL 10316 was granted to North until 21st July 2007. During the second year of the licence, the Batten Trough Farm In and Joint Venture Agreement was entered into between North and Anglo American. This Agreement was signed on 29th September 2003 and lodged with the Department for registration. On 22nd March 2006 Anglo American withdrew from the Joint venture and handed tenement management back to North. No field-based exploration activities were carried out by either North or Anglo American within the area relinquished.