MLN 51 - MLN 57 Caroline Leases Annual report for the year ending 4 November 2002

Abstract

Mineral Leases N51 - N57 known as the Caroline Leases in the Pine Creek area, NT, are currently being explored by AngloGold Australia Limited. AngloGold previously explored these leases under a joint venture agreement signed in December 1993 with the titleholders Solomon Pacific Resources NL and Astron Resources NL. In 1995 Acacia (now AngloGold) purchased Astron Resources share and acquired the right to earn an 82% interest in the Mineral Leases. In June 1996 Acacia completed the successful acquisition of Solomon Pacific Resources NL and assumed all Solomon Pacific's interests including their stake in Mineral Leases N51 - N57. Following the successful takeover of Acacia, AngloGold Australia assumed management of the Caroline leases. The leases are located approximately 4 km south east of Acacia's Union Reefs Gold Mine and treatment facilities. No field work was completed on the leases during the reporting period.