Finniss Range Project, EL 26467 East Charlotte, Annual report for the period 22 June 2008 to 22 June 2009

Abstract

Exploration during the reporting period consisted of a brief literature review. In addition, a work program for adjoining EL's 25603, 26467 and 25521. No ground exploration was completed on this tenement (work was primarily focussed over the Project's northern tenements - EL 26399 and EL 26469). The planned program involves reconnaissance mapping across the tenements along 400m spaced east-west traverses, and rock chip sampling of prospective targets (for Sn, Ta and Li). The Ah Bung mine (abandoned) is located in the south-eastern corner of EL 26467. The workings consist of shallow shafts and pits on two parallel pegmatites (which crop out for a length of 50m). In 1986 Greenex completed 190m of costeaning and 135m of auger drilling. The average grade of 10 channel samples was 113 g/t SnO2 and 44 g/t Ta2O5. The overall volume and grade was considered by Greenex to be uneconomic. The Company intends to review all historic data, paying particular attention to lithium levels.