Tenement exploration report for EL 27483 for the period 24 March 2010 to 23 March 2011

Abstract

Universal Splendour Investments has taken up exploration license EL 27483 which is located around the Borroloola area in the Northern Territory. This tenement is part of a group of nine tenements collectively referred to as the Gulf project area. This tenement is prospective for manganese mineralisation. To date the Gulf project has had a full background review, including an assessment of previous exploration, manganese mineralisation model, data compilation and a preliminary interpretation of the tenements. Accompanying the background review was a 10 day field visit which aimed to; assess the tenement access, map geology, rock-chip sample and plan future sites for follow-up in 2011. Most of the rock-chip samples were assayed for a suite of elements and several returned favourable results for manganese.