Combined Annual Report for the Eastern Project Area 16 November 2010 to 15 November 2011

Abstract

A HeliTEM survey was conducted over EL 27537 and EL 27538, focused on the Golden Forty and East Peko Areas. Emmerson engaged a consultancy firm, Optiro Pty Ltd to conduct a detailed re-evaluation of In-Situ resources, which included the Golden Forty Mine and Golden Kangaroo East Deposit. Emmerson's exploration activities are currently focused on 'proof of concept' drilling of identified HeliTEM anomalies, further integration of the HeliTEM data, VRMI, geological, historical, geochemical and other relevant data sets to further define targets for drill testing and centres around the Gecko and Orlando areas in Emmerson's Northern Project Area. As results have been very positive to date with the identification of significant economic mineralisation as a direct result of exploration of HeliTEM anomalies and solid geological and geophysical work, Emmerson will devote significant resources in 2012 to detailed analysis, interpretation and given positive results the drill testing of any identified targets from the HeliTEM survey flown over the Golden Forty and East Peko Ares, and identification of further areas for HeliTEM surveys in the future.