Annual report for SEL 23661 Wilson for the period 20 March 2009 to 19 March 2010 Central Project

Abstract

This is the annual report on SEL 23661 for the period 20 March 2009 to 19 March 2010. No field exploration was carried out over the area. It is, however, important for ATH to ensure that there is a reasonable amount of exploration land to include with the TMJV/Groundrush Mining Leases as a saleable package. If we reduce the ATH landholdings in the vicinity of the TMJV/Groundrush Mining Leases and processing infrastructure, the likelihood of securing a sale to an established junior Mining Company or Initial Public Offerings may be diminished. In addition, all of the area covered by the project area is considered prospective for gold mineralisation similar to the Tanami, Twin Bonanza, Old Pirate and Groundrush deposits and any purchaser will require time to effectively evaluate the exploration potential of the area. During the reporting period a purchase agreement has been signed and the divestment is in progress. During 2010 Newmont is planning to continue with its environmental auditing of ATH tenements to ensure the success of previous rehabilitation of exploration disturbances.