Group Annual Report for Exploration Licences EL 26628 and 29828 GR386 Tanami Altura JV Project from 1 March 2016 to 28 February 2017

Abstract

Exploration Licences 26628 and 29828 form ABM Resources N'sL (ABM), 'Tanami Altura JV' project which is located approximately 600 km north-northwest of Alice Springs in the north Tanami Region of the Aileron Province. In June 2015 ABM entered an option agreement with Altura Exploration Pty Ltd. (Altura) which provided for ABM to acquire a 90% interest in ELs 26628 and 29828 and establish a joint venture with ABM as manager. ELs 26628 and 29828 are highly complementary to ABM's existing adjoining ABM's Twin Bonanza Project tenements as they represent under explored and analogous geology to the region's major gold deposits in the Trans-Tanami Structure Zone. ABM is exploring the 'Tanami Altura JV' project for the potential of gold mineralisation. Exploration consisted of desktop studies including regional targeting review activities by ABM. 4 prospect areas were classed at the Stage 2 in ABM's Milestone Ranking all located on EL 26628. It was recommended to include these 4 (Suzaku, Byakko, Genbu and Seiryu) prospect areas in the 2017 regional RAB program. EL 29828 did not contain any targets that rank in ABM's 2016 prospectivity analysis. No on-ground exploration was conducted during the reporting period neither by Altura nor by ABM.