Annual and Final Report for EL 26452 Wonarah for the period 9 January 2008 to 19 March 2013

Abstract

Minemakers drilled 78 RC exploration and resource holes in 2008, 2 RC exploration and 9 RAB water search holes in 2009, 65 reconnaissance RC exploration holes in 2010, 23 RC resource holes in 2011 and 51 RC exploration holes in 2012. Excluding water search holes, 10,468 metres of RC drilling were completed. A total of 3686 samples were submitted for analysis. The Main Zone resource although primarily on ML 27244 also extends south onto EL 26452. Best intercepts from the 2008 and 2011 resource drilling in the area south of ML 27244 but within the Main Zone resource are: WNRC1666 with 22m at 25.5% P2O5 from 34 metres depth, WNRC1686 with 13m at 25.6% P2O5 from 42 metres depth, WNRC0015 with 13m at 22.8% P2O5 from 34 metres depth and WNRC0026 with 13 metres at 22.2% P2O5 from 24 metres depth. Exploration in the west and north-west part of the tenement intercepted shallow but patchy mineralisation. Best results were WNRC1546 with 11m at 19.8% P2O5 from 8 metres depth and WNRC1714 with 10m at 14.2% P2O5 from 27 metres depth. An updated mineral resource estimation for the project as a whole was completed in 2012 and a Measured Resource was defined for the first time. The total Measured, Indicated and Inferred Resource for both Main Zone and Arruwurra on ML 27244, EL 26452 and EL 26451 now totals 842 Mt at 18% P2O5 (10% P2O5 % cut-off) including a Measured Resource of 78.3 Mt at 20.8% P2O5. A technical report summarising all resource estimation work is included in this final report. There is a significant phosphate resource on EL 26452 and good potential to increase it further. It is likely that a mining lease will be applied for on the replacing tenement to cover the area immediately south of ML 27244. The tenement was surrendered on 19 March 2013 in order to be amalgamated with another Minemakers tenement into EL 29840 and EL 29841. Exploration will continue on the new tenements.