Combined Annual Exploration Report Rover Project GR107 EL 24541, EL 25511, EL 27039, ELR 29957 and ELR 29958 Year ending 7 March 2015

Abstract

This report covers exploration completed on the tenements in the Rover Combined Reporting group for the period 8 March 2014 to 7 March 2015. The Rover Project is located approximately 100km west-southwest of the Tennant Creek Township, and includes a number of granted tenements and applications that fall within aboriginal freehold lands of the Karlantijpa South Land Trust and Karlantijpa North Land Trust. The project area is considered prospective for copper and gold and base metals mineralisation associated with Iron Oxide Copper Gold (IOCG) mineralising systems. In November 2008, combined reporting status was granted over five tenements forming a contiguous group within the Rover Project. These are ELs 24541, 24989, 25427, 25511, and EL 27039. EL 27039 hosts two advanced IOCG mineralised systems, the Explorer 142 Cu-Au prospect and the Explorer 108 Pb-Zn-Ag resource, and EL 24989 / EL 24541 hosts the Rover 1 copper-gold resource. These mineralised bodies are analogous to the Tennant Creek IOCG deposits and demonstrate the high prospectivity of the Rover Project region. A diverse exploration approach has been initiated over the RCR for the year ending 7 March 2015 and as a result multiple geophysical and drilling programs have been completed or are currently on-going. Encouraging result not only at the Rover 1 deposit but also regionally at the Curiosity Prospect 1km south or the Explorer 108 deposit has, reinforcing Castile's view of the prospectivity of the broader Rover Project and the applicability of the exploration approach adopted. On-going discussions with the CLC regarding development approvals and the grant of surrounding exploration lease applications which will form part of the Rover Project once granted. Additionally Castile Resources Pty Ltd (Castile) advanced exploration decline studies for the Rover 1 Project inclusive of submission of the Rover 1 Decline Proposal to the Northern Territory Department of Resources.