Annual report for EL 26035 Douglas Hot Springs for the year end 31 May 2008

Abstract

During 2007 a proposal was made by 'Outback Metals Ltd' to acquire 'Softwood Plantations Pty Ltd'. In anticipation of this transaction being completed a decision was made to suspend all activities until the transaction was finalised. Since the above mentioned transaction was proposed all associated work in this site has been associated with the business side of the transaction including acquiring an Independent Geologist Report which was carried out by Al Maynard and Associates Consulting Geologists. A review of the tenements held by Softwood Plantations was also carried out by Hetherington Exploration and Mining Title services. These consultations included an audit of the current resource statements that have been made in recent years. Exploration work planned for the 2008/9 year includes a closely spaced geophysical survey and field mapping followed by soil sampling with a budget of $10,000.00 allocated for these activities. The field mapping and sampling programmes is expected to provide targets for a subsequent drilling programme. It should be noted that the exploration is dynamic and as more information is gathered and interpreted the programme will change to reflect the additional information.