Annual report and request for renewal of title MCN 723 Mount Wells expiry date 17 October 2009

Abstract

The last Annual Report covered the 12 month period up until May 2008. Since then, Outback Metals has undertaken a 34 hole RC drilling programme at Mt Wells, conducted surface mapping of the mining area, aerial photography and photogrammetric mapping, and attempted a ground Induced Polarisation Resistivity (IP) survey which was unsuccessful. During 2009, a JORC compliant resource model has commenced and is expected to be followed by a second drilling programme (both RC and diamond) to test the open extensions of the existing lodes as well as test for entirely new lodes to extend the resource. A Scoping Study to evaluate the viability of the project will follow the updated resource produced from the second drilling programme.