Beryl EL 24990 Annual Report for the period 24 July 2012 to 23 July 2013

Abstract

This report details exploration activity conducted by Territory Iron Pty Ltd ('TIPL') within the 'Beryl' Tenement EL 24990 during the year ending 23rd July 2013. During the reporting period, Territory undertook the following work: Ground-based reconnaissance visits north of the Beryl Prospect. Proposed activities for the coming year will include geological mapping and rock-chip sampling within the Lower Wildman Formation. In addition, drilling has been approved along the 'Beryl-Ochre Hill trend' in the 2012-2013 Frances Creek Exploration MMP Auth 0707-01. This trend partially falls within EL 24990; Aircore drilling is proposed in this region. Estimated expenditure is $11,750. TIPL is in the process of undertaking a corporate reconstruction, whereby EL 24990 and other Territory Resources tenements will be transferred to Territory Iron Pty Ltd (a wholly owned subsidiary). Once complete, it is planned to amalgamate EL 24990 with adjacent tenure.