Annual Report for EL 29488, 16 August 2018 to 30 April 2019

Abstract

EL 29488 was acquired by Evolution Tennant Creek Pty Ltd through a restructure of the TCMF JV with Emmerson Resources Limited. The EL is part of a contiguous block of EL's through the Gecko - Goanna - Orlando Corridor and collectively labelled Evolution Tennant Creek Project Area. The project area is prospective for Tennant Creek style iron oxide copper gold deposits. This report records the exploration work completed on EL 29488 during the reporting period from 16 August 2018 to the 30 April 2019. During the reporting period exploration activities were limited to data compilation and review as the transfer of the EL was only completed at the end of the reporting period. Total expenditure on the EL 29488 during the reporting period from 16 May 2018 to the 15 May 2019 totalled $1,735 and is attributed to data compilation, data validation and review. This expenditure is less than the current covenant of $21,250. This is attributed to Evolution's ability to get on the ground during the extended transfer period.