Annual Report for MLC 675 and MLC 676 (Includes bridging information from 01 January 2001) for the period 1 January 2001 to 12 October 2015

Abstract

During the reporting period no exploration activities were conducted due to corporate reasons, which entailed the seeking of a Joint Venture (JV) Partner or further funds to continue exploration in the Tennant Creek area and more specifically MLC's 675 and 676. Emmerson succeeded in securing Evolution as a Joint Venture Partner who has committed to spend $25M over the next 5 years. Following the formation of this JV, Emmerson has commenced exploration activities and will evaluate the prospectivity and then rank work for the title as per its prospectivity in comparison to the other 476 titles Emmerson explores in Tennant Creek. It is expected that MLC's 675 and 676 rank highly for prospectivity therefore exploration activities should resume in the near future. This annual report records any activities completed on this title during the reporting period from 13th October 2014 to the 12th October 2015 and includes bridging information from 01 January 2001 to 13th October 2014. Further exploration of the title area, more specifically the historical workings and identified anomalous zone around the White Devil Mine Area, will be dependent on future interpretation of the HeliTEM data and information from any success in the hematite pilot study.