Group Annual Report for Bonanza Project GR164 EL 25194, EL 26608, EL 27378, EL 28322, EL 28324, EL 28325, EL 28328, EL 28394, EL 31289 from 1 February 2016 to 31 January 2018 and EL 29790 from 14 September 2016 to 31 January 2018

Abstract

The Bonanza Project is located approximately 820km NW of Alice Springs near the border to Western Australia (Figure 1). Tenements are registered to Australian Tenement Holdings Pty Ltd (ATH), a wholly owned subsidiary of ABM Resources NL (ABM), a publicly listed company, and ABM directly. ABM is exploring the tenements for the potential for gold mineralisation. A decision was made to separate the Bonanza project into two separate reporting groups in line with changes in ABM's geological model. In February 2018 ABM's application to establish a new group status for 12 of the Bonanza project GR164 tenements was approved. For the newly formed group GR 479 named the Bluebush project the reporting period was kept as before 1 February 2017 to 31 January 2018. The remaining GR164 Bonanza project currently comprises the following 10 tenements: Exploration Licences 25194, 26608, 27378, 28322, 28324, 28325, 28328, 28394, 29790 31289 and 31291. No on - ground exploration was completed as ABM focused on its activities on the higher ranking Bluebush project. In July 2017 ABM invited the Corporate Geoscience Group ('CGSG') to undertake a geological framework and targeting study at ABM's Tanami projects which included the Bonanza project. The review resulted in a priority sorted list with a total of 8 targets within the Bonanza tenements.