Yalco Project GR342 Combined Annual Report for the period 15th August 2013 to 14th August 2014 - EL 25467 and for the period 3rd August 2013 to 14th August 2014 - EL 29021

Abstract

Brumby conducted no significant exploration work on the Yalco project between the 14th of August 2013 and the 2nd of May 2014 as a result of their focus on negotiating the earn-in joint venture agreement with Teck. After the deal was signed Teck Australia became the operator of the project and has focused on reviewing historical data and acquiring key new datasets to advance the project based on a well-defined exploration strategy. This strategy is largely based on the methodology that Teck used to successfully delineate and target mineralisation at the Teena SHMS Zn-Pb discovery on the Reward Project, 60 km to the south.