Annual report EL 10320, 15 April 2009 to 14 April 2010 Hughes, Bruce and Scullin

Abstract

This document has been prepared by Salisbury Resources Limited (SBY) for and on behalf of Agricola Gold Limited (AGL) to report on exploration activities and results undertaken during 2009. SBY entered into an Option and Farm in Joint Venture Agreement with AGL on 14 December 2007. Details of the Option are included in Section 3, Tenure. Exploration activities during 2009 comprised soil and rock chip sampling over three prospect areas, namely Hughes, Bruce and Scullen. Due to the unprecedented Global Financial Crisis and significant downturn in the availability of exploration capital, SBY was unable to list on the ASX and meet the drilling commitment outlined in the proposed exploration program dated 25 February 2009. However, available funds were committed to a limited sampling program designed to confirm the prospectivity of the Licence.