EL 22307 Annual report on exploration activities year seven of tenure 6 August 2008 to 5 August 2009

Abstract

Work planned for year seven was essentially to complete a limited exploration programme of the EL by drill testing the TAN016 target. A thorough review of data was conducted early in the year to aid in the planning for a brief field programme. Frustratingly, due to a change in the circumstances of the parent company of Gravity Diamonds Limited and the impact of the financial crisis in late 2008, the field work was delayed pending the sale of the complete tenement package to Legend International Holdings Inc. The completion of this sale is dependent on conditions precedent which are yet to be satisfied but once completed the field programme may proceed as planned.