Annual Report for ML 30623 for the period 7 November 2014 to 6 November 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 ML 30623. Emmerson Resources Ltd (Emmerson) succeeded in securing Evolution Mining Ltd (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 which have included the application of seismic geophysics both regionally and locally, but not directly related to ML 30623 and also the Kenex Project which is a predictive modelling project aimed at identifying under explored areas in the Mineral Field. Kenex has generated target areas and included the historical Ajax and Pinnacles mines, but to date higher ranked targets are currently being explored elsewhere in the field, most significant are the targets being explored to the east and north east of ML 30623 which will have greatest significance to the prospectivity of ML 30623. Emmerson will evaluate the prospectivity and then rank work for the title as per its prospectivity in comparison to the other generated Kenex targets as results and concepts are updated from current exploration activities. It is expected that ML 30623 ranks very highly for prospectivity therefore exploration activities should resume in the near future.