First annual and final report for EL 24869 'Ooratippra', 7 July 2006 to 06 July 2007

Abstract

Southwestern Mining Company Pty Limited (ACN 104 649 774) (Southwestern) was granted EL 24869 on the 7th July 2006. Principal reason for the acquisition was the Company's belief that the area is highly prospective for diamonds. Southwestern has also applied for and been granted Exploration Licence 24993 which adjoins EL 25019, EL 24822 and the much earlier EL 22488. The ELs are worked as one project known as the 'Ooratippra Diamond Project'. While EL 24869 is still considered prospective for diamonds, other targets in the Ooratippra Project area appear to have more potential and it was decided to surrender the EL and concentrate on those other areas. This Report covers the exploration work carried out on EL 24869 during the first and final year of tenure from the 7th July 2006 to the 5th July 2007. Work done includes: - Research - Photo interpretation - Geophysical Interpretation - Sampling of magnetic anomaly - Processing for diamond and key indicator minerals - Assaying for base and noble metals - Land-owner liaison. The results of the work carried out have not yet been received and will be forwarded when received from the laboratories.