Annual Report ML 23812 Spring Hill for the period 16 January 2013 to 15 January 2014

Abstract

Mining Lease ML 23812 which covers the historic Spring Hill gold mining centre was previously held by Tennant Creek Gold (NT) Pty Ltd until it was acquired by Western Desert Resources Ltd in July 2007. In mid- 2011 WDR Gold entered into a JV agreement with TM Gold (a subsidiary of Thor Mining PLC). TM Gold has now earned the right to 80 per cent share in the project. ML 23812 encompasses a published JORC compliant Indicated resource of 379,000 ounces of gold within 9.5 million tonnes at a concentration of 1.24 grams per tonne gold at a one gram per tonne gold cut-off grade. Ongoing resource development drilling continued during the year with the completion of 2,171 metres of reverse circulation drilling targeting areas most likely to enhance the existing mining resource. The revised resource estimate will be reported in the next annual report.