Annual technical report for the period 29 December 2009 to 28 December 2010

Abstract

During 2010 the exploration program on EL 27368 was operated by Afmeco Mining and Exploration Pty Ltd ('Afmex'). Due to difficult finance circumstances experienced worldwide it was not possible to complete the proposed mapping and sampling activities in 2010. With the Company now well-funded following a major capital raising in late 2010, it is expected that the proposed exploration activities will be undertaken in 2011. In 2011 it is anticipated that several large tenement applications held by the Company in the area, will be granted. This will allow more costeffective exploration programs to be implemented in the area. Once these applications are granted, further exploration can be implemented including the completion of an airborne EM survey.