EL 26635 Annual Report 16 February 2017 to 15 February 2018

Abstract

Tenement EL 26635 was granted to Toro Energy Limited ('Toro Energy') on the 16 February 2012. Toro Energy subsequently announced it was entering a joint venture agreement with Northern Minerals Pty Ltd ('Northern Minerals') for a group of seven tenements, including EL 26635, which together were named the Toro JV Project. Northern Star (Tanami) Pty Ltd ('NST') became the 100% legal and beneficial owner of a number of titles in the Northern Territory, including EL 26635, pursuant to a Tenement Sale Agreement and Mineral Rights Agreement both executed 29 August 2016 with completion effective from 9th January 2017. The tenement is largely underlain by Palaeoproterozoic Dead Bullock Formation, Killi Killi Formation and intrusive granite/granodiorite. In the north west of the tenement, these units are overlain by Mesoproterozoic sandstone of the Birrindudu Basin and Cambrian flood basalt of the Antrim Plateau Volcanics. Little to no outcrop occurs within the tenement, and the surface geology is dominated by unconsolidated Quaternary sediments.