Second relinquishment report on EL 24818, for 8 Blocks Dropped for the period 17 January 2006 to 17 January 2010

Abstract

Korab Resources Ltd successfully carried out a program of exploration on EL 24818 over a period of four years as described in their Annual Reports for Years 1, 2, 3 and 4. Korab was granted a full waiver of reduction after year 2 and a partial waiver of reduction after year 3. Korab has applied for a further partial waiver of reduction after year 4. The 8 blocks dropped after year 4 are the subject of this report. This report describes the work carried out on the 8 blocks dropped over the 4 years of tenure.