MLN 1070, MLN 1071 and MLN 1127 Mount Todd Project Annual report for the period ended 4 March 2011

Abstract

The three mining leases, MLN 1070, MLN 1071 and MLN 1127 comprise a portion of the Mount Todd Project area and cover 54.15 square km (4% of the project area). The mining leases are situated approximately 42 km north of the town of Katherine. This annual report documents the work completed on the leases comprising MLN 1070, MLN 1071 and MLN 1127 for the period March 5, 2010 to March 4, 2011. The leases were originally granted on 5 March 1993 and were transferred to Vista Gold Australia Pty Ltd. by the Northern Territory Government on June 15, 2006. Vista Gold Australia Pty Ltd. is the operator and managing the exploration work. Work on the project during the Reporting Year included 5262.9 meters of drilling consisting of twelve holes. Three of these were diamond holes with RC precollars, four were RC only and five were cored from surface, for a total of 4685.4m of diamond drilling and 577.5m of RC drilling. All holes targeted infill and step-out targets. All the drilling was conducted on MLN 1070. A total of 7177 drill samples were submitted from the program to the ALS Chemex for analyses. A soil sampling program was carried out during the reporting period on an area that covers a portion of each of MLN 1070, MLN 1071 and MLN 1127. A total of 1187 samples were collected, with the work ongoing at the end of the reporting period.