Annual Group Report GR330 MLN 872, MLN 873 and MLN 874 John's Hill year ending 31 December 2015

Abstract

Newmarket Gold Inc. (known as Crocodile Gold Ltd at the time of acquisition) took control of the John's Hill project from Adept Solutions in May 2012. The John's Hill Mineral Leases are located in close proximity to several historic gold mines, including the Star of the North and Goodall mines and consists of tenements MLN 872, 873 and 874. Newmarket Gold Inc. conducted a review of all assets and found that the John's Hill group of tenements, although being prospective, did not comply with the core asset criteria and strategic focus of the company. The John's Hill project is seen as a lower ranked target with future plans limited. The project was offered for sale by Newmarket Gold Inc. and Monax Mining Ltd entered into a purchase agreement for the group of three tenements along with other tenements. 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.