Annual Technical Report MLN 1163 for the period 24 March 2015 to 23 March 2016

Abstract

This report describes exploration activities conducted by operator Territory Iron Pty Ltd at the Rum Jungle (Yarram) Project area which is partially located within MLN 1163 for the period 24th March 2015 to 23rd March 2016. MLN 1163 is located about 8 km NW of Batchelor and 61 km SSE of Darwin in the Northern Territory and covers 126.1 hectares. The Yarram Project Area covers an approximate 2.1 km2 area over tenements ELR 125, ELR 146 and MLN 1163, and is subject to an agreement between Territory Iron Pty Ltd and tenement owners Compass Resources Ltd (90%) and Guardian Resources Ltd, (10%) whereby Territory Iron has the right, subject to certain royalty terms, to explore, mine and purchase iron ore from the title holders. Exploration activity within MLN 1163 for the reporting year involved rehabilitation of earlier drill sites, field visits by geological personnel, desktop studies and evaluation of earlier acquired data. The remediation of drill sites is complete.