Annual technical report Juno Project MLC 45, MLC 46, MLC 47, MLC 68, MLC 154, MLC 155, MLC 284, MLC 578, MLC 579 period 1 January 2009 to 31 December 2009

Abstract

Exploration during the reporting period consisted chiefly of RC and DD drilling to further define the economic limits of the Juno Deposit. Further work is continuing to date on the validation of the digital database with the hardcopy historical information by EXM staff in conjunction with Cube consulting. The key exploration targets remain unchanged and include the mineralised and ore body's Juno, M10, G11, Juno East and Juno West. The known mineralisation has a complex copper- ismuth-gold character, similar to other iron oxide copper and gold (IOCAD) deposits found elsewhere in the world. The work completed during the reporting period included an extensive data compilation (both digital and hardcopy), drilling 9 RC holes for approximately 1630m, 7 diamond drill holes for 2059m, a DGPS survey pickup of the hole locations, downhole gyro survey of drill hole paths, reviewing of old diamond drill core and geological data interpretation.