Combined Annual Report period ending 31 December 2014 GR197/11 MLC81, MLC82, MLC103, MLC104, MLC105, MLC106, MLC682

Abstract

Aard Metals Limited (Administrator Appointed) ('Aard Metals' or 'the company') is an emerging iron ore exploration and development company. The Warrego Tailings Project is located 50km northwest of Tennant Creek and has six granted Mining Lease Claims that are covered by group reporting status (GR197/11). The current JORC Indicated Resource for the project is 7.8mt at 35.2% Iron and an Inferred JORC resource of 119,000 ounces of Gold at 0.48g/t and 16,500 tonnes of Copper 0.21%. The metallurgical testwork has demonstrated that through the use of magnetic separators and disc filters, 2.92 million tonnes of magnetite concentrate at 64% Iron and 8% moisture can be produced from the tailings dams on the Warrego Project. On 24 December 2014 Mr Giles Geoffrey Woodgate was appointed Voluntary Administrator of Aard Metals pursuant to Part 5.3A of the Corporations Act.