Hatches Creek Project EL 22912 and EL 23463 Annual Technical Report 25th July 2016 to 24th July 2017 Combined Report GR262

Abstract

The Hatches Creek tungsten project consists of two tenements EL 22912 and EL 23463, located approximately 320 km north east of Alice Springs. The project is held by NT Tungsten Pty Ltd which is a 100% owned subsidiary of GWR Group Limited ('GWR'). The focus for the Hatches Creek project during the previous reporting periods was to process the historical mine dumps to generate cash flow. After a significant decline in the world tungsten price to almost record lows it was decided to delay the dumps project and refocus on the exploration potential. The world tungsten price has recently enjoyed a significant price rise climbing from a low of U$170 in 2016 to approximately U$330 per MTU in September 2017. Work undertaken during the year ending 24th July 2017 consisted of; drilling 18 RC drill holes for 1,739m and; seeking statutory approvals for the completed RC drilling and a program planned for 2017. A new EL was also applied for (EL 31469) which surrounds EL 22912 and EL 23463.