Wild Horse Hill Project Annual Report Reporting Period 29 February 2016 to 29 February 2017 EL 30964 and EL 30964

Abstract

Exploration Licence's (EL) 30951 and 30964 form the Wild Horse Hill Project covering 231.21 SqKm of the established mineralogical terrain of Pine Creek. The project is located approximately 115kms southeast of Darwin and 18km east of Adelaide River. Excedo Exploration believes the historical exploration carried out by Western Mining Corporation (WMC) and Salisbury Resources at the Wild Horse Hill project has been highly encouraging and warrants follow up exploration. Within this area of the Pine Creek gold province several advanced prospects have been identified by previous explorers. They mostly lie along or close to an extensive Fault structure, the Shoobridge Fault, at favourable structural locations where increased quartz veining is evident. These prospects are WMC historical targets H21, 24, 25 and 26 so named in the 1980s. They include Wild Horse Hill North (H21), Triumph (H25), Reid (H24), Fisher and Cook (H26). An application is being considered to cover the Hughes-Bruce-Scullen Prospects also. The most exciting of theses prospects are Reid-Fisher-Cook, hosting anomalous gold over 2500m in strike length. The work completed by Salisbury Resources at the Cook prospect identified a zone of gold anomalism over 1000m in strike length and 200m in width associated with intense quartz veining parallel to an anticlinal axis. The anomaly is open to the north and Excedo believes it is likely to extend into the Fisher prospect. Previous exploration at the Fisher prospect has located a gold and arsenic anomaly occurring over a strike length of 500m within an interpreted fold nose structure hosting stacked quartz veining. The anomaly remains untested both north and south and appears likely contiguous with both Cook and Reid prospects. The Reid prospect hosts a siliceous gossan outcrop over a strike length of 600m and averages 100m in width. The anomaly is open to the south and is again likely contiguous with the Fisher project. All three prospects represent an exciting underexplored anomalous gold zone of over 2500m in strike length and 200m width with potential to host a high-grade gold resource. Excedo Exploration is currently in planning to test this anomalous zone with an intensive mapping and infill soil sampling program during 2017. Subject to encouraging results a large-scale reconnaissance RC drilling program would be undertaken to test the zone for high grade Au mineralisation. In addition, Excedo holds the H21 and Triumph prospects on EL 30964 requiring further investigation of gold resource potential. The Wild Horse Hill Project illustrates the huge potential for a further gold discovery within the Pine Creek area of the Northern Territory. Excedo Exploration is well positioned to capitalise on these exciting underexplored mineral occurrences enabling the team to quickly develop Wild Horse Hill into a substantial gold project. No work was completed during the reporting year. This period of inactivity was due to the company's focus on its flagship project 'The Barrow Creek Lithium Project'. The work completed at Barrow Creek by the company subsequently saw ownership change hands to an ASX listed entity who now have committed significant funds to exploration efforts in this region.