GR256 Benmara Group McArthur Project Annual amalgamated technical report for period 5 January 2013 to 4 January 2014

Abstract

A downturn in the uranium market forced Toro into immediately putting on hold any of the planned exploration drilling for 2013 on the Benmara Project and re-assessing its company operating strategy and commodity focus. In 2013 Toro undertook a detailed prospectivity analysis to identify targets, both uranium and non-uranium. Non-uranium targets were then used to interest potential JV partners, however no JV interest was generated. Uranium targets were then assessed and prioritised relative to all other uranium targets on Toro held ground within the Northern Territory and Western Australia. Using this assessment, Toro then identified exploration ground with no to only low ranked priority uranium targets to be surrendered. By late 2013 these decisions had been made and EL 28750, EL 28751 and EL 28806 were surrendered from the Benmara Project tenure.