Year 2 Reduction report EL 28386 Harriet Creek, Pine Creek Project, for period ending 6 July 2013

Abstract

EL 28386 was granted for a period of six (6) years in 2011 to expire on 6 July 2017. The tenement was reduced from 49 to 25 blocks for year 2 reduction requirements. No exploration was completed on the relinquished blocks as exploration on this tenement was postponed whilst the company re-organised its exploration strategy and land holdings with a view to be listed on the ASX during 2013. This re-organising is progressing successfully, although taking longer than expected, and includes the acquisition of a large gold project in far north Queensland from Republic Gold. No further work is recommended on the relinquished blocks which are interpreted to be within non prospective granite.