Hart Range Garnet Project Annual report year ending 22 January 2003 EL 10150

Abstract

During the year ended 22 January 2003 the company has appointed HBH Consultant Engineers to complete a feasibility study on the Harts Range Garnet Project. It is expected the feasibility study will be finished in July, 2003. Pursuant to the feasibility study Lakefield Oretest metallurgical laboratories have conducted extensive test work on the samples to assist in design of a flowsheet for the processing plant. During 2002-2003 Olympia signed an Indigineous Land Use Agreement that includes this tenement and this opens the way for development of the project.