Annual Report for Exploration Licence 24851 South Bathurst, Tiwi Islands, Northern Territory For period 29 July 2015 - 28 July 2016

Abstract

During the reporting period no mineral sand exploration field work was completed due to decommissioning activities on ML 27438 located on the north coast of Melville Island. During 2015/16 an exploration program was compiled and refined in order to drill test targets in EL 24851 in conjunction with surrounding prospective areas. Unfortunately continued depressed mineral concentrate prices are affecting the ability of the company to raise funds and finance exploration in the Tenement.