Annual Technical Report Nobles Nob MLC 512, 513, 514, 515, 516, 517, 521, 525, 531, 532, 533, 534, 537, 538, 539, 540, 541, 542, 543, 544, 545, 548, 549, 550, 556, 688, 689, 690, 691, ML 590, 526 and 589 Period 1 January 2014 to 31 December 2014

Abstract

During the reporting period Excalibur commissioned Atlas Geophysics to carry out a ground based gravity survey across all Nobles Nob Tenements. This survey was carried out over a grid spacing of 50m x 100m and designed for structural evaluation to further exploration across its Noble Nob tenements in the Tennant Creek region. The area consists of several historically shaft mined prospects and the open pit called Nobles Nob. During the year environmental compliance was maintained across the tenement area. Only minor rehabilitation work was required, which involved the removal of rubber bush. In February 2014 a completely new structural analysis was initiated and announced and presented to shareholder and the Australian Stock Exchange. This work is ongoing as time and funding allows. A ground based gravity geophysics survey was carried out in November 2013. The results of this data has been analysed and reviewed throughout the first half of 2014. Following this comprehensive review, drill programs based on surface mapping and gravity structure have been proposed.