Final annual and surrender report for EL 23791 and EL 23921 Mount Goyder, GR130

Abstract

EL 23791 and EL 23921 were originally held and explored by Territory Iron/Territory Resources. Under a JV signed in 2008, Rum Jungle Resources began a program of multi-commodity exploration including gold, uranium and base metals. The ELs were transferred from Territory Resources Limited to Rum Jungle Resources Ltd on 22 March 2011. Since 2008, Rum Jungle Resources has acquired TEMPEST and VTEM geophysical data, collected 192 surface samples and drilled 151 holes for 7,194 m. The results of Rum Jungle Resources' five years of systematic drilling of multiple prospects (such as Billabong and Anomaly 7) and the drilling of other geochemical and geophysical targets throughout EL 23791 and EL 23921 have downgraded the titles' prospectivity. After a review of the whole Mount Goyder project, Rum Jungle Resources surrendered three contiguous ELs including EL 23791 and EL 23921. All available MRT data and GDF geophysical data for the life of both EL 23791 and EL 23921 have been supplied with this report.