Partial relinquishment group report for EL 10383, EL 10385, EL 10386 and EL 10387

Abstract

In 2011, Kajeena Mining Company reduced the size of the 4 tenements. It was considered the areas retained were more favourable for mineralisation than the areas relinquished. PCS is not aware of any exploration undertaken on the relinquished areas from EL 10383, EL 10385 and EL 10386. PCS is aware, however, of some minor exploration under on the northern and southern area relinquished from EL 10387. The exploration was undertaken by Teck Australia Pty Ltd in 2009 and comprised 25 sample points where leaf and soil samples were acquired, and 5 leaf-only sample locations. The assay results of these samples did not reveal any significant indication of mineralisation.