Combined Annual Report for the Lone Star Group MCC's 316 - 317 and 340 - 341 and MLC's 362 - 375, 530 and 606 - 619 and ML 30743 1 January 2016 to 30 June 2017 GR406

Abstract

The titles of the Lone Star Group were acquired by Santexco Pty Ltd (Santexco) and Giants Reef Exploration Pty Ltd (Giants Reef) to search for Tennant Creek style iron oxide copper-gold deposits (IOCG). Santexco and Giants Reef are wholly owned subsidiaries of Emmerson Resources Ltd (Emmerson).This combined report records the exploration work completed on these titles during the period from 1 July 2016 to the 30 June 2017. Exploration activity was limited due to exploration focus elsewhere namely at Edna Beryl and Retsina in Emmerson's Northern Project Area (NPA). Work proposed and yet to commence will be the continuation of assessment of the Kenex generated targets within the Lone Star Group area. These targets exhibited geological prospective rocks and structures but their overall ranking wasn't high enough for exploration to commence immediately. Following the recent exploration success at Mauretania in EL 28761 and Edna Beryl in MLC 705 these targets will be reassessed and re ranked in 2017 for future exploration.