Mining leases MLN 1070, MLN 1071 and MLN 1127 Mt Todd Project annual report for the period ended 4 March 2008

Abstract

The three mining leases, MLN 1070, MLN 1071 and MLN 1127 comprise a portion of the Mount Todd Project area and cover 54.15 square km (4% of the project area). The mining leases are situated approximately 42 km north of the town of Katherine. This annual report documents the work completed on the leases comprising MLN 1070, MLN 1071 and MLN 1127 for the period March 5, 2007 to March 4, 2008. The leases were originally granted on 5 March 1993 and were transferred to Vista Gold Australia Pty Ltd. by the Northern Territory Government on June 15, 2006. Vista Gold Australia Pty Ltd. is the operator and managing the exploration work. Work on the project during the Reporting Year included 9,883.4 meters of diamond drilling on mining lease MLN1070. There was no field work carried out on ML's N1071 and N1127 during the Reporting Year as work was concentrated on the larger ML N1070 which hosts the Batman deposit. Work on ML's N1071 and N1127 covered general research on previous exploration activities.