Bridging report to cover activities over MLC's 176, 177 and ML 23216 Chariot Group 1 January 2006 to 30 April 2008

Abstract

Mineral Leases C176 and 177 and ML 23216, Chariot Group, were acquired by Giants Reef Exploration Pty Ltd (Giants Reef) to search for Tennant Creek style iron oxide copper-gold deposits. This bridging report records the exploration work done on these group of tenure during the term 01 January 2006 to 30th April 2008. During the report period no exploration or mining activities were conducted over the Chariot Group tenure area. The Chariot Group Tenure area was included in large scale regional reviews of tenure, and is located within EL 10199. Giants Reef ceased mining of the Chariot ore body in 2005, the company then moved into administration on 26 January 2006. The administration period continued until 1 August 2006 when Emmerson Resources Ltd purchased a group of assets which included all Giants Reef tenements. Emmerson then work diligently to list on the Australian Stock Exchange, and successfully listed on the ASX on 17 December 2007, following the successful Initial Public Offering raising $20 million. All Giants Reef tenure including MLC's 176 and 177 and ML 23216 were void of any activities during this Administration, Purchase and ASX listing period. Now following the successful listing and raising of $20 million dollars Emmerson Resources Ltd has commenced an aggressive exploration strategy covering all tenements held by the company in the Tennant Creek Mineral field and includes MLC's 176 and 177 and ML 23216. Exploration activities have commenced and includes detailed ground gravity surveys, airborne geophysical surveys and exploration drilling. Emmerson considers MLC's 176 and 177 and ML 23216 to be part of a highly perspective region defined by the Chariot Mine. Emmerson will re-assess the Chariot deposit for remnant resources and possible extensions down plunge and laterally extensional.