EL 29590 Victoria River Annual report for the period 10 April 2014 to 9 April 2015

Abstract

Much of the period was spent in negotiations with prospective Joint Venture partners with the aim of raising additional funding to enable the aerial geophysiscs on all of the Company's licenses to be completed at the same time. To this end The Directors of Australis Minerals have been involved in intense negotiations with the OFC Tianjin Mining Co. of China for much of the current reporting year, aimed at securing funding to carry out the proposed exploration program and future exploration on EL 29499, as well as the Company's other licenses in the same area. These negotiations are well advanced and a commercial agreement between Australis Minerals and the OFC Tianjin Mining Co. is expected in the near future.