Annual exploration report for EL 27196 Soudan for the period ending 26 October 2010

Abstract

Works completed at the Soudan Project during the first year of tenure included an open file literature review, compilation and review of publicly available geological maps and geophysical data, XRF analysis of 39 water bore cuttings from 1 hole, an AAPA register search, collection and analysis of 4 rock chips, acquisition of NRETAS environmental data and the compilation of a Mining Management Plan for the project. On 7 May 2010 Vale applied for an AAPA Authority certificate over EL 27196. At the time of reporting the AAPA certificate was pending. Vale does not intend to commence on-ground works until any restricted works areas have been identified. In the next year an AAPA Authority Certificate will be granted to Vale, thereby allowing field work to commence. On site works proposed for 2011 include geological mapping, rock chip sampling and RC drilling.