Tenement summary report for the period 24 March 2014 to 23 March 2015 for EL 27483

Abstract

During the 2014-2015 reporting period no work was undertaken on the project area due to discussions with a major copper mining company. The major mining company was evaluating the Lorella project during the reporting period. In September of 2014 the major mining company notified USI that it would further evaluate the project during the imminent wet-season. Unfortunately this did not allow USI enough time to execute a drilling program before the wet-season began. Therefore the information in this report is only a summary of the project to-date and is a duplication of the previous annual report for the 2013-2014 reporting period.