Annual Tenement Report EL 22957 Spring Hill Project for the period 13 January 2016 to 12 January 2017

Abstract

During the reporting period, PC Gold Pty Ltd earned a 100 percent interest in TM Gold Pty Ltd, thus becoming the sole operator and equity owner of the Project. During the reporting period validation of historical field mapping was conducted. In addition the historically defined soil geochemical, trenching and drill targets were evaluated in terms of their potential of hosting economic gold mineralisation. In addition, a high resolution airborne survey was flown by PC Gold in October 2016 covering its concessions around and including Spring Hill. The survey was completed by a fixed wing aircraft at a mean terrain clearance of 7,500ft. The output pixel size generated was 15cm (GSD) with a spatial accuracy of +- 0.3m RMSE horizontal.