Combined Annual Report for period ending 31 December 2015 GR197, MLC 81, MLC 82, MLC 103, MLC 104, MLC 105, MLC 106, MLC 682

Abstract

No work completed during the reporting period. On 29th of August 2008 Aard acquired the tenements from Territory Resources Limited with no cash payments and future issuing of shares and a royalty agreement on the Iron and Gold within the tailings that is sold. Since Aard Metals acquired the tenements, the company renewed MLC's 81 and 82 on 31 December 2009 and MLC's 103, 104, 105 and 106 on 31 December 2012 which was approved on 27 February 2013. Aard Metals went into voluntary administration on 24 December 2014. Consequently, the above licences were transferred to Austland Resources Holdings Pty Ltd and Wisdom Initiative Pty Ltd on 11 December 2015. Aard Metals will no longer be operating the licences. The new title holders, Austland Resources Holdings Pty Ltd and Wisdom Initiative Pty Ltd will be taking on future exploration and mining programs.