Roper HM Project EL 23048 Seventh annual report for period 2 December 2008 to 1 December 2009

Abstract

Exploration and Resource Development Pty Limited (ERD), a Darwin based resource sector company for a period of six years. On February 5th 2009 ERD changed its name to Australian Ilmenite Resources Pty Limited (AIR). A partial surrender of EL 23048 occurred in 2007 and in 2008 the lease was renewed for a further 2 years. EL23048 now covers 35 sub-blocks and 79.83 sq km. The tenement in conjunction with all other ERD tenement forms a collective but non contiguous Roper HM Project Area. EL 23048 abuts EL's 24986 and 24655 to form the Prospect Area 'SILL80' and Mining Lease Application 27422 partially covers the southern area of EL 23038.