Combined annual report for the period 3 February 2011 to 2 February 2012

Abstract

This report describes the exploration activities conducted over tenements comprising the McArthur Project Combined Reporting Group GR-143/09 for the period between 3 February 2011 and 2 February 2012. During the reporting period, the principle focus remained on diamond exploration. Helicopter-assisted program of Heavy Mineral Analysis (HMA) sampling was conducted over selected tenements within the reporting group. Eleven samples were collected as either to follow-up historic positive results or infill reconnaissance sampling to ensure adequate data points are available to draw meaningful assessment on the prospectivity of the project.