Hatches Creek Project EL 22912 and EL 23463 Annual Technical Report 25 July 2017 to 24 July 2018 GR262

Abstract

The Hatches Creek tungsten project consists of two tenements EL 22912 and EL 23463, located approximately 320km 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 from 2014 to 2016 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. Two highly successful RC drilling programs have now been completed. The world tungsten price has recently enjoyed a significant price rise climbing from a low of U$170 in 2016 to approximately U$350 per MTU in August 2018. Work undertaken during the year ending 24th July 2018 consisted of; Structural geological mapping; 33 RC drill holes for 3,338 m; Collar survey of all 50 RC holes completed to date; All 50 RC holes from the 2016 and 2017 programs were reclogged using a binocular microscope, with whole rock geochemistry used as a reference; Rehabilitation of plastic bags and sumps for all 50 RC drill holes completed to date; Down hole deviation, geophysics and televiewer surveys for selected RC holes from the 2016 and 2017 programs; Exploration Target estimate based upon compilation of all recent and historical activities; and Submission of EMMP for additional RC drilling at Hit or Miss and Treasure.