Annual Group Report GR331 MLN 875, MLN 876, MLN 877 and MLN 883 Star of the North Year ending 31 December 2015

Abstract

Newmarket Gold Inc. (known as Crocodile Gold Ltd at the time of acquisition) took control of the Star of the North project from Adept Solutions in May 2012. The Star of the North Mineral Leases (MLN 875, 876, 877 and 883) are located in close proximity to several historic gold mines, including the Great Northern and Goodall mines. Newmarket Gold Inc. conducted a review of all assets and found that the Star of the North group of tenements, although being prospective, did not comply with the core asset criteria and strategic focus of the company. The Star of the North project is seen as a lower ranked target with limited future plans. The project was offered for sale and Monax Mining Ltd entered into a purchase agreement for the group of four 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.