Annual report for EL 26438 Lander River, for the period 5 May 2008 to 4 May 2009

Abstract

Field exploration activities conducted by Toro Energy on this tenement during the reporting period comprise only reconnaissance foot traverses. No samples were collected and analysed. A literature review has been undertaken and is outlined below. Toro are planning a regional scale Airborne Electromagnetic (AEM) survey to be conducted during the latter part of 2009 in an effort to identify basement conductors and palaeochannels that may be host to uranium mineralisation. No drilling is planned at this stage. Exploration in the Reynolds Range Project has been held back to allow grant of tenements to the north so that a coherent and contiguous land package can be flown. Native Title negotiations have also been initiated with the Central Land Council. Toro are actively seeking an Exploration Agreement be in place prior to any ground disturbing work.