Combined Annual Report for the Golden Forty Group MCC's 66, 67, 925 and 926 and ML 30620 and MLC's 4, 5, 32, 35 - 37, 53 - 56, 127, 129 - 144, 146 - 149, 343 - 355, 576, 577, 584 - 586 and 598 GR417 1 May 2016 to 30 April 2017

Abstract

This combined report records the exploration work completed on these titles during the period from 1 May 2016 to the 30 April 2017. Exploration activity was limited due to exploration focus elsewhere, namely Edna Beryl and Retsina in the Northern Project Area (NPA), work completed involved drilling of 3 Reverse Circulation (RC) holes at the black snake prospect in MLC 53 and the continuing assessment, both desktop and field visits to geologically assess a number of Kenex generated targets within the Golden Forty Group area. The Black Snake prospect is an historical prospect with a non-JORC resource estimated by Giants Reef Mining in 2004 at 18,000t at 12g/t AU for 7,200ozs gold. Emmerson has proposed Black Snake to form one of a number of mines in its Small Mines strategy. This small mines strategy is aimed at using a specialist narrow vein miner to exploit these small deposits that remain uneconomic for Emmerson or other companies. As part of the preparations for submission of Mining Management Plans, and assessment of potential for Black Snake to become a small mine Emmerson drilled 3 RC to use for metallurgical samples as well as confirm gold grades in the non-JORC resource area. 3 RC holes (BSRC017 - 019) for 105m were drilled in MLC 53 on 24 March 2017. Results returned have been sent for metallurgical assessment in regards to preparations for the small mine and these results will be available in the next annual report. Results to confirm the gold grades were returned and supported the historical drilling and assays.