Final technical report 13 August 2008 to 13 July 2010

Abstract

This Final Annual Technical Report for Waterhouse covers work carried out during the tenement holding from 13th August 2008 to 13th July 2010. Exploration activities during the period as follows: No onground exploration work was carried during the tenement period; An additional desktop review of previous exploration was completed. The Mine Management Plan ('MMP') was upgraded and submitted to the Northern Territory Government and continued Authorisation was approved; Toro has repeatedly attempted through the CLC to obtain an exploration Native Title Agreement for exploration on this tenement. It took nearly two years for the CLC to bring together the traditional owners for this area to consider a proposal for an exploration agreement; Traditional owners requested that the CLC not make an exploration agreement and to request Toro to immediately withdraw from the tenement; In light of the negative response of the traditional owners Toro has decided to withdraw from this tenement and concentrate activities in other areas.