Final surrender report and annual exploration report for the period 18 January 2008 to 17 January 2013

Abstract

This Annual Report summarises work completed for the period 18th January 2012 to 17th January 2013. The activities on EL26071 during the reporting year consisted of: Desktop studies and historical reviews (in conjunction with adjacent tenement EL 28077); Helicopter assisted reconnaissance geological mapping and rock-chip sampling survey within EL 28077 (and adjacent EL 26071); A subsequent review of the above geological mapping and rock-chip sampling survey. From this review, the Company was of the opinion that sizeable economic occurrences of iron and/or manganese were not present. The decision was made during the reporting period to surrender tenement EL 26071.