Exploration licence 24993 Ooratippra first annual report 11 August 2006 to 10 August 2007

Abstract

Southwestern Mining Company Pty Limited (ACN 104 649 774) (Southwestern) was granted EL 24993 on the 11th August 2006. Principal reason for the acquisition was the Company's belief that the area is highly prospective for diamonds with some prospectivity for base metals. Southwestern has since applied for and been granted Exploration Licence 25019 which adjoins EL 24993 and pre-existing EL 22488. The ELs are worked as one project known as the 'Ooratippra Diamond Project'. This Report covers the exploration work carried out on EL 24993 during the first year of tenure from the 11th August 2006 to the 10 August 2007. Work done includes: Research, Photo interpretation, Identification of Circular features, Sampling of Circular features, Geophysical Interpretation, Sampling of magnetic anomalies, Helicopter reconnaissance, and Land-owner liaison.