4th Annual Report EL 10335 for the period 15 August 2005 to 14 August 2006

Abstract

Hartz Range Mines Pty Ltd ('HRM') has continued operations on the Wollogorang Project covering the northern part of the EL and on the Branch Creek Project covering the entire EL. Work carried out during this period consists of database compilation of previous exploration activity in the area based on open file company reports and purchase and image processing of SPOT 5 satellite imagery. An extended wet season resulting from cyclone activity has prevented field access. Field activity has been limited to reconnaissance mapping. An airborne magnetometric and radiometric survey designed to join the survey conducted on the Debbil Debbil Uranium Project is currently in progress. Lagoon Creek Resources Pty Ltd ('LCR') continued operations on the Debbil Debbil Uranium Project in the southern part of the EL. This work has consisted of a review and database compilation of previous exploration activity in the area based on open file company reports, purchase and image processing of Landsat 7 and SPOT 5 satellite imagery, an airborne magnetometric and radiometric survey has been completed, processed and interpreted. Due to an extended wet season resulting from cyclone activity, fieldwork has been limited to mapping and sampling. Planned drilling programmes have been delayed. A total of 140 soil samples and 38 rock chip samples from five areas were submitted by LCR for multi element geochemical analysis.