Combined Annual Report for EL 25399 Compass Creek, EL 25436 Mavis, EL 29068 New Waterdrum, 28 February 2019 to 27 February 2020 Compass Creek Project

Abstract

Unfortunately, no field work was possible on Ismins Compass Creek Project during 2019 due to the loss of funding from partner company AMD Resources Limited in late 2018 (noted above). This created a breach of the agreement between the parties, and led to the termination of the agreement. A protracted negotiation saw Ismins sole funding exploration in June 2019. In late 2019, negotiations were initiated with a Canadian TSX listed entity. This led to the signing of a binding JV 'Heads of Agreement' in late February 2020. This agreement will provide funding for a drilling program at Compass Creek and Mavis in the coming 2020 field season.