Annual report for EL 24609 Wonarah, for the period ending 5 February 2007

Abstract

EL 24609 forms part of Minemakers' Wonarah Phosphate Project, located on the Barkly Highway 260 km east of Tennant Creek in the Northern Territory, Australia. Minemakers holds 100% interest in this tenement. The Wonarah phosphate deposit was purchased by Minemakers from Indo Mines Limited (formerly AKD Limited) in 2006 and Indo retains a 10% vendor claw-back right with respect to EL's 9976, 9978, 9979, 22168 and 24562. The Wonarah Phosphate deposit was discovered in 1967 and the Indo-Rio Tinto joint venture drilled up a rock phosphate resource estimated at a JORC-compliant 72Mt at 23% P2O5 (at a cut off grade of 15%). The known phosphate resource does not lie within EL 24609. During the reporting period, Minemakers has carried out data compilation and review in order to plan a program of scout reconnaissance drilling during the 2007 field season.