Annual amalgamated technical report for period 18 September 2014 to 17 September 2015 GR311 Wiso Project

Abstract

Exploration during the reporting period consisted of 23 holes for 2619.5m drilled by Areva across tenements EL 27138 and EL 27123. All holes failed to intersect mineralisation and all terminated within crystalline basement lithologies. Areva's recommendation at conclusion of drilling was that all targets had been tested no further work was warranted. Toro and Areva's JV agreement ended after drilling failed to produce favourable results. As such Toro surrendered EL 27138 at the end of its 6th year of tenure and will relinquish EL 27123 and EL 29395 at the end of their 4th year.