Annual Report for the period 9 June 2013 to 8 June 2014 EL 385 Walker River

Abstract

EL 385 was applied for in 1972 by CRA Exploration Pty Limited (CRAE). Partial consent of the application area resulted in the granting of two separate licences (EL 385 & EL 24304) in June 2004. The tenements are located approximately 180km south-west of Nhulunbuy, and 80km north of Numbulwar in south east Arnhem Land and consequently are processed under the Aboriginal Land Rights Act 1975 (ALRA). EL 24304 was relinquished in full on 4 May 2006. The tenements are considered prospective for base metal mineralisation, similar to that at McArthur River (HYC) in the McArthur Basin. In January 2014 Rio Tinto Exploration Pty Limited (RTX) and DPG Resources Australia Pty Ltd (DPG) entered into an Earn In and Joint Venture Agreement with DPG managing and operating the tenements on behalf of RTX. The agreement includes EL 385 & 23565 as well as ELA 844, 5561, 24305, 27919 & 27920. Work conducted during the reporting period included a report by David Jones (submitted under the NI43-101 rules to the Toronto Stock Exchange as DPG is a wholly owned subsidiary of GPM Metals Inc which is listed on the TSXV, Toronto, Canada), acquisition of World View 2 satellite imagery, conduct of an airborne magnetics and radiometric survey, soil geochemical sampling and review by Dr Mark Hinman. Further soil sampling, rock chip sampling, geological mapping and an IP survey is planned for September of 2015.