Annual exploration report for EL 24715 Mount Masson for the period 1 March 2010 to 28 February 2011

Abstract

The following report describes work completed on tenement EL 24715 by Territory Resources Ltd from 1 March 2010 to 28 February 2011. In 2006, by virtue of an agreement, Territory Resources Limited acquired rights to explore iron ore within the tenement from current tenement holder Crocodile Gold Australia Pty Ltd. The activities on EL 24715 during the reporting year consisted of: Ground gravity geophysical surveying, which was part of a larger geophysical review that re-interpreted all the historical and recent geophysical survey data available in the Frances Creek region over Territory Resource Ltd's tenement holdings. Geophysical targets for iron mineralization were identified within EL 24715. Limited rock chip sampling and geological reconnaissance activities were also carried out.