Partial relinquishment report SEL 25054 Maud Creek Project for period 17 April 2006 to 13 September 2010

Abstract

Substitute Exploration Licence (SEL) 25054, is located about 20 km east of Katherine. It surrounds the Maud Creek gold project which has approximately 1 million oz of contained gold. The tenement was granted on 18 May 2006 to Terra Gold which was a subsidiary of GBS Gold Australia. Crocodile Gold Australia purchased these assets in June 2009 after GBS Gold went into voluntary administration. A small portion of the tenement adjacent to the Maud Creek mining tenements was relinquished in September 2010.Exploration activities conducted over the relinquished part of SEL 25054, from 17 April 2006 to 13 September 2010, has included several project reviews and campaigns of reconnaissance mapping and field visits. A total of $735 has been spent over the life of the relinquished area.