EL 25027 Annual report Year 4 period ending 18 April 2010

Abstract

Acacia Minerals Pty. Limited has successfully carried out most of the Year 4 planned exploration program on EL 25027. A combined RAB with diamond drilled tails is in progress and additional interpretation of radiometrics has been completed. By the anniversary of the EL on April 18 2010, 24 RAB drill holes had been completed. Excluding one hole (NTR-A-005) abandoned at 3m due to collar collapse, the remaining 23 holes totaled 643m, equivalent to an average of 28m per hole. Between 50cm and 1m of core has been obtained from the bottom of RAB holes NTR-A-001 to NTR-A-016. The core is stored in suitable core trays in Acacia's container on a freehold property on the project site. The core will be split and sampled after all diamond tails have been collected at the end of the project expected by June 2010. The depth of all holes allowed penetration through the laterite profile into the underlying weathered Early Proterozoic rocks accessing the targeted stratigraphy for sampling. Additional work is warranted and planned for Year 5.