EL 25561 Old Crossing Annual report for the period 15 October 2009 to 14 October 2010

Abstract

Compass Resources is exploring in the Batchelor area oxide and sulphide basemetal deposits and uranium. During the reporting period, Compass finalizing the compilation of all historical exploration data, completed a new structural interpretation of the Rum Jungle district and undertook airborne geophysical surveys. Based on the complation of historical data and new structural interpretation the western half of the EL 25561 was considered to be less prospective and scheduled for relinquishment. The eastern half was flown with helicopter borne EM and magnetics with 100m spaced flight lines with nominal 35m terrain clearance for approximately 90 line km of survey. The survey was undertaken in October 2010 and the data will be reported in the next annual report.