Annual Exploration Report for EL24715 Mount Masson for the period 1 March 2013 to 28 February 2014

Abstract

The following report describes work completed on tenement EL 24715 by Territory Iron Pty Ltd from 1st March 2013 to 28th February 2014. In 2006, by virtue of an agreement, Territory Iron Pty Ltd acquired rights to explore iron ore within the tenement from the current tenement holder Crocodile Gold Australia Pty Ltd. The activities on EL 24715 during the reporting year consisted of: A total of 45.7 line kilometres consisting of 1,875 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 24715) 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.