Annual Group Report GR332 MLN 878 and MLN 879 Great Northern Year ending 31 December 2015

Abstract

Newmarket Gold Inc. (known as Crocodile Gold Ltd at the time of acquisition) took control of the Great Northern project from Adept Solutions in May 2012. The Great Northern Mineral Leases are located in close proximity to several historic gold mines, including the Star of the North and Goodall mines. Newmarket Gold Inc. conducted a review of all assets and found that the Great Northern group of tenements, although being prospective, did not comply with the core asset criteria and strategic focus of the company. The Great Northern project is seen as a lower ranked target with future plans limited. The project was offered for sale and Monax Mining Ltd entered into a purchase agreement for the group of three tenements along with other tenements offered by Newmarket Gold Inc. The process of purchase is expected to be finalised in 2016. The details of the purchase agreement are outlined in Monax Mining's ASX announcement dated Wednesday, 21st October, 2015.