Hatches Creek Project EL 22912 and EL 23463 Annual Technical Report 25 July 2018 to 24 July 2019 GR262

Abstract

The Hatches Creek tungsten project consists of two tenements EL 22912 and EL 23463, located approximately 320 km north east of Alice Springs. The project is held by NT Tungsten Pty Ltd which is a 100% owned subsidiary of GWR Group Limited ('GWR'). The focus for the Hatches Creek project from 2014 to 2016 was to process the historical mine dumps to generate cash flow. After a significant decline in the world tungsten price to almost record lows it was decided to delay the dumps project and refocus on the exploration potential. Three highly successful RC drilling programs have now been completed. Work undertaken during the year ending 24th July 2019 consisted of; Drilling 13 RC drill holes for 1,526 m (HCRC051 to HCRC063) at the Hit or Miss prospect; Rehabilitation of collars and pads and some access tracks for the RC drilling undertaken in 2016 and 2017 (HCRC001 to HCRC050); Data compilation of all previous results and the creation of a Data Room; On the 3rd June 2019 GWR signed a Joint Venture Agreement with Tungsten Mining NL ('TGN') and TGN are now earning a 51% interest in the Hatches Creek project by spending $3,000,000 within 5 years.