Annual Report EL 29787 Lake Lewis for the period 8 July 2014 to 7 July 2015

Abstract

Lake Lewis Project, incorporating the EL 29787, is situated about 200 km west-northwest of Alice Springs on the NAPPERBY 1:250,000 Geological Series Map Sheet, SF 53-9 map sheet. The EL 29787 is comprised of 48 blocks and was granted on July 8th 2013 to Piper Preston Pty Ltd (now a wholly-owned subsidiary of Wildhorse Energy Ltd). The prime commodity sought is Sulphate of Potash (SOP); however, as this mineral does not naturally or directly crystallise from salt lake brines the exploration rationale is based on systematic exploration, evaluation and confirmation of replenishable brine resources contained in the tenement proper, prior to mineral process engineering evaluations and establishment of recoverable SOP from mineral brine resources. As the definition of groundwater recharge capacity of the lake is a prime importance for mineral brine resource evaluations, work carried out by the Company on the EL 29787 during this reporting period was primarily focused on a data review.