Combined Annual Group Report GR125/09 for the period 1 December 2017 to 30 November 2018, ML 24727, ML 25087, ML 25088, ML 25152, ML 25396, ML 26222, ML 25529, ML 27224, ML 27225, ML 27228

Abstract

This report describes exploration activities conducted by the TRL Frances Creek Pty Ltd ('TRL-FC') title holder on the Frances Creek amalgamated technical and expenditure reporting group GR125/09 (ML 24727, ML 25087, ML 25088, ML 25152, ML 25396, ML 26222, ML 25529, ML 27224, ML 27225 and ML 27228). The reporting period for all the group is 1 November to 30 December, this report relates to the year ending 1 December 2018. Territory Resources Pty Ltd (nee Limited) was acquired by new owners who have spent the period, reviewing the tenure package, restructuring and continuing to reduce the care and maintenance costs with a view to resuscitating the extractive mining potential of the Frances Creek project as a whole. GR125 will remain in care and maintenance until such time as the mining operations are restarted. Exploration activities during the year for GR125/09 has been limited to desktop reviews of previous exploration activities (including drilling, assay results, geological mapping and a review of the geophysical surveys (ground gravity and Electromagnetic (EM). During quarter 4 of 2018, TRL-FC engaged a geologist with experience with the tenure to commence a review of the exploration potential of the Frances Creek tenure held by TRL-TC.