Annual and final report for EL 26328 Tennant Creek Gold Project for the period ended May 2009

Abstract

EL 26328 (the 'Tenement') occurs within the Tennant Creek area of the Northern Territory on the Tennant Creek (SE5314) 1:250,000 map sheet. The Tenement was applied for as part of an intended Northern Territory gold exploration program. From June to October 2008 Agricola and its' shareholders were the defendants in Supreme Court of Western Australia litigation which made it impossible to either commit or raise funds for exploration. Other permits (10) within the Tennant Creek region all had permit anniversaries in October - November 2008 and as a result were also substantially under-expended at the end of the first year. Based on this, it was decided not to pursue the opportunity and the Tenement was surrendered. Beyond the perusal of open file reports, the acquisition of geophysical data from previous geophysical surveys and the assessment of publicly available geological data, no studies were commissioned and no field visits or operations were carried out. The Tenement was surrendered at the end of the first year.