MLN 21 Annual report for the period 19 March 2008 to 18 March 2009

Abstract

MLN 21 was first granted on 19 March 1953. The title was purchased from Normandy Mines in about 2004 by Corporate Developments P/L to provide high-grade ore with the potential to be trucked to Mount Wells for treatment. Corporate Developments Pty Ltd was acquired by Outback Metals Ltd in 2007 and is now a wholly owned subsidiary of Outback Metals. The commodities of interest for MLN 21 are silver, gold, copper and uranium. No mining has been carried out as the resources of this Mineral Lease are proposed to be treated through the Mount Wells mill and this is not yet operational. The resources within this mineral lease do not justify a stand-alone operation. The work proposed for MLN 21 is to proceed with resources definition once firm plans are made to develop the Mount Wells copper/tin mine and processing plant.