GR285 Combined annual technical report for period 2 April 2014 to 1 April 2015

Abstract

During the reporting period no on the ground exploration activities were undertaken across any of the tenements included in this report. A downturn in the uranium market forced Toro to re-assess its company operating strategy and commodity focus. In the reporting period Toro undertook a detailed prospectivity analysis to identify targets, both uranium and non-uranium. As a result of the prospectivity analysis Toro surrendered 69 blocks across EL 26987 and 41 blocks across EL 27301. These blocks were determined to be of low priority for exploration and have been surrendered accordingly. Remaining ground holding in the Reynolds Range Project is being used to interest potential Joint Venture partners. Toro Energy is currently in discussion with a potential partner.