ML 27227 Frances Creek Annual Report for the period 20 October 2017 to 19 October 2018

Abstract

This report describes exploration activities conducted on the Frances Creek Pty Ltd held tenement ML 27227 by operator TRL Frances Creek Pty Ltd from 20th October 2017 to 19th October 2018. There were no activities conducted on ML 27227 during the reporting period. This title remains needed for ancillary mining purposes. The tenement appears to be a 'gap tenement' and required to complete the footprint held in the Frances Creek area. During the reporting year the Territory Resources Limited (now Pty Ltd) was acquired by new management, whom have kept the Territory Resources Group in care and maintenance whilst we pursued a resolution on an outstanding bond position. In addition Territory Resources through its subsidiary TRL Frances Creek Pty Ltd (the renamed Territory Iron Pty Ltd) reacquired the Gold Rights that had been sold by Arafura to Ark Mines in 2016.