Group annual exploration report for the period 4 August 2007 to 3 August 2008

Abstract

Exploration carried out over the Cox Project during the reporting period included site investigations to verify past sample results, data reviews from open file data, including compilation of GIS data and soil sampling data. No field work was carried out during the reporting period. A project-wide review of previous exploration, including geological and geophysical data was undertaken. These reviews were conducted to evaluate the prospects for future exploration. On the basis of the review and upcoming expiries the decision was made to surrender tenements EL 22298, EL 22300 and EL 22302. Further analysis of geophysical and geological data of the remaining Cox tenements will help to establish possible areas of high interest for sampling and subsequent drilling programs.