Mount Todd Project Annual Report for the period ended 4 March 2016

Abstract

The three mining leases, MLN 1070, MLN 1071 and MLN 1127 comprise a portion of the Mount Todd Project area and cover 54.15 square km (4 percent of the project area). The mining leases are situated approximately 42 km north of the town of Katherine. This annual report documents the work completed on the leases comprising MLN 1070, MLN 1071 and MLN 1127 for the period March 5, 2015 to March 4, 2016. The leases were originally granted on 5 March 1993 and were transferred to Vista Gold Australia Pty Ltd. by the Northern Territory Government on June 15, 2006. Vista Gold Australia Pty Ltd. is the operator and manages the exploration work. Work on the project during the Reporting period was mainly focussed on reducing the water inventory onsite by treating and discharging water from the Batman Pit. Deep drilling was also carried out on the Batman orebody to test the potential for down-plunge mineralisation to the south of the known resource.