EL 31300 Annual and Final Report for the period 6 June 2018 to 19 June 2019

Abstract

No field work was carried out on EL 31300 during the reporting year. Due to a change in the companies' corporate structure during the reporting period and a subsequent tenement prospectivity review of licenses held by Litchfield Minerals, it was decided that EL 31300 should be relinquished in full. The fact that the tenement was wholly within the Litchfield National Park had a major bearing on the decision to surrender the tenement. From a company viewpoint, advanced exploration let alone mining in a National Park presents operational challenges and hurdles, ultimately impacting on and limiting funding for constrained exploration in such an environment. The current global financial and geopolitical outlook has impacted heavily on Litchfield Minerals ability to raise exploration funds for any meaningful work to be carried out on EL 31300, given the potential constraints on exploration and ground disturbing work. The company will focus all its attention to the exploration and other advanced activities on the Mt Doreen mineralised fields in the western Arunta where it holds, in the companies' view, highly prospective mineralised ground. A number of industry players and other investors have expressed interest to partner Litchfield Minerals in pursuing a program of exploration in order to be able to discover viable quantities of base and strategic metals within less restrictive ground.