EL 30242 Mount Cornish Project Annual Report for the reporting period 26 November 2014 to 25 November 2015

Abstract

KGL Resources Ltd., acquired the Mt. Cornish tenement (EL30242) following the reprocessing of Poseidon Exploration Ltd.'s airborne EM data by International Geoscience, of 8 May Ave. Subiaco, 6008 WA. The tenement is held by Jinka Minerals Limited, a fully owned subsidiary of KGL Resources Ltd. International Geoscience identified a coincident magnetic-EM trend on Poseidon's Area 2 and KGL applied for the ground. Poseidon did their own follow up work that included soil/ lag traverses but from a review of their reports there were no anomalies identified. A preliminary field reconnaissance visit of the area suggests there is extensive cover. The mag/ EM trend is covered with calcrete so surface sampling wouldn't have been effective. KGL Resources Ltd., a Brisbane based company, purchased Jinka Minerals in early 2011 from Reward Minerals Limited. Annual Reporting of activities conducted on Exploration Licence 30242 is reported by Kentor Minerals (NT) who is the authorized operator of the tenement. Exploration this year included re-interpretation of airborne EM survey data, preliminary reconnaissance ground checking and detailed field based geological mapping.