Partial Surrender Report EL 28855 3 February 2012 to 2 February 2018

Abstract

This Partial Surrender Report provides a synthesis of the activities undertaken across EL 28855 ('the Licence') for the period of 3 February 2012 through to the 2 February 2018. The Lease was granted on the 3 February 2012 and was managed by TM Gold Pty Ltd. On the 16 December 2016, Thor Mining PLC entered into an option agreement to sell 100% of Spring Hill Project via the sale of TM Gold Pty Ltd. Subsequently PC Gold Pty Ltd acquired 100% equity interest in TM Gold Pty Ltd (owner of Spring Hill Project). During this period of time extensive drilling, metallurgical testing, resource estimations, feasibility studies, environmental studies and permitting activities were conducted. The tenure subject to the partial surrender directly overlies the granted mining lease, ML 23812.