Exploration licence 22488 Ooratippra sixth annual report 3 December 2006 to 2 December 2007

Abstract

Acacia Minerals Pty Limited ACN 127 419 729 (Acacia), a Territory based exploration Company, purchased Exploration Licence 22488 from Southwestern Mining Pty Limited (Southwestern). The dealing was approved under Section 173 of the Mining Act on the 4th of December 2007. Acacia is a wholly owned subsidiary of Adelaide River Resources Limited (ACN 127 411 796) (Adelaide River), a public company currently preparing to list on the Australian Stock Exchange (ASX). Southwestern purchased EL 22488 from Giants Reef Exploration Pty Limited on the 11th December 2003. The transfer was approved under Section 173 of the Mining Act on the 2nd of April 2004. Principal reason for the purchase was Southwestern's belief that the area was highly prospective for Diamonds. Subsequently, Southwestern also applied for and was granted a further four Exploration Licences numbered 24822, 24869, 24993 and 25019 all adjoining or within EL 22488. Other than EL 24869 which has been surrendered, these tenements have also been transferred to Acacia. The ELs are worked as one project known as the 'Ooratippra Diamond Project'. This Report covers the exploration work carried out during the sixth year of tenure from the 3rd of December 2006 to the 2nd of December 2007. Work done included: - Research - Photo interpretation - Geophysical Interpretation - Sampling of magnetic anomalies - Sampling of circular topographic features - Diamond and indicator mineral assessment - Helicopter reconnaissance - Land-owner liaison.