Beryl EL 24990 Annual Report for the period 24 July 2011 to 23 July 2012

Abstract

This report details exploration activity conducted by Territory Resources Ltd ('Territory') within the 'Beryl' Tenement EL 24990 during the year ending 23rd July 2012. During the reporting period, Territory undertook the following work: Reconnaissance and geological mapping along the Beryl Trend into EL 24990; Obtained satellite imagery and DTM data for the entire Frances Creek Project area (including across EL 24990); and Desktop targeting studies. Proposed activities for the coming year will include geological mapping and rock-chip sampling within the Lower Wildman Formation, utilising the newly captured detailed imagery for control. Based on positive results, any new targets generated by this work will be incorporated into an updated MMP for 2012-2013 and may consist of an Aircore drilling program.