Year 2 Annual report for EL 9893 10 September 2003 to 9 September 2004

Abstract

Due to negotiations between Striker and Rio Tinto relating to the formal signing of the 'Letter Of Intent', on-ground diamond exploration was put on hold until the conclusion of these negotiations and Heritage Clearance and other traditional owner access requirements were undertaken. During the reporting period Striker Resources entered into a 'Letter of Intent' with Rio Tinto regarding EL 9893 and other licences surrounding the decommissioned Merlin Diamond Mine in the Northern Territory. Striker has agreed with Rio Tinto Ltd. to honour all existing commitments and arrangements that Rio Tinto Ltd. has entered into with respect to the exploration licences.