Annual Report (including a bridging report component) to cover exploration activities over MLC 120, MLC 121, MLC 122 and MLC 123, 1 January 2001 to 31 December 2011

Abstract

This Annual (and bridging) report records the exploration work done on these group of tenure during the term 1 January 2001 to 31 December 2011. Emmerson conducted exploration over MLC's 120 - 123 which consisted of geophysical surveys, a detailed ground gravity survey in 2008 and a HeliTEM survey in early 2011. RC drilling was conducted during July 2011 resulting in 3 RC holes for 717m, with disappointing results. Emmerson will continue to conduct exploration in the Gecko Area to further develop the application, understanding and execution of targeting HeliTEM and/or VRMI anomalies and during 2012 Emmerson will conduct a detailed interpretation, analysis and modelling of the HeliTEM data in the White Devil block, which includes MLC's 120 - 123, with the aim of identifying targets for drill testing late in 2012 and early 2013.