Year 8 annual report for EL 9725, EL 10136 and EL 26520 Hammer Hill Project, for the period 13 February 2009 to 12 February 2010

Abstract

This report presents the work completed during the eighth year of tenure on the Hammer Hill Project; a joint venture between Mithril Resources (manager), BHP Billiton and Arafura Resources. The project covers granted Exploration Licences 9725, 10136 and 26520, which have joint reporting status. The Hammer Hill Project area straddles the Huckitta and Illogwa Creek 250,000-scale map sheets and is centred about 180km northeast of Alice Springs, south of the Plenty Highway. Work completed over the tenement area during the seventh year of tenure includes: -Ground Magnetics -Air core drilling (52 holes for a total of 1630m) -Geological mapping and rock sampling -Rehabilitation Diamond drilling completed during 2008 intersected significant sulphide mineralisation including minor chalcopyrite. The style of mineralisation is thought to be skarn type and conductive targets remain untested in the vicinity of the drilling.