Annual Report EL 23824 Millers for the period 9 February 2013 to 8 February 2014

Abstract

The following report describes work completed on tenement EL 23824 by Territory Resources Limited from 9th February 2013 to 8th February 2014. EL 23824 is held as a joint-venture tenement, with Territory Resources Ltd (51%) as majority holder and tenement manager, and Softwood Plantations Pty Ltd (49%) holding a minority interest. The activities on EL 23824 during the reporting year consisted of: A total of 15.3 line kilometres consisting of 496 gravity stations took place within the tenement. This was part of a significant ground gravity geophysical survey programme at the Frances Creek Project. An airborne electromagnetic survey was flown over part of the Frances Creek Project area (including part of EL 23824) to assist in mapping the structure of the host stratigraphy of the Frances Creek mineralisation. This survey was flown by GPX Surveys using their proprietary XTEM electromagnetic system during August and September 2013. Territory conducted field mapping and reconnaissance visits within the tenement to confirm if mineralisation extended outside previously drilled areas. The Millers deposit is within EL 23824 and is fully covered by the Mining Tenement application ML 26429.