Ann: Kangan Gold Project update, page-10

Just sent this to Tim

Thanks for your announcement this morning.

I personally believe this announcement is in no way sensitive and is very misleading.

It cannot be a “major new field exploration program” as it is quite clear from Figure 2 that there is a tiny area in tenement 3318 that has heritage clearance. Is this where NOVO are going to earn their JV spend without any ground disturbing works on the other tenements? It appears 3321 has a request for heritage clearance, but we don’t know where that is at. There is no mention at all about 3945 which is between the Egina Mining Lease and Paradise which are proven hot spots. No mention of 4948.

ESS better not be planning to offload these tenements in some sort of cheap buyout by NOVO, especially without consulting shareholders.

Shareholders deserve more information on the status of all tenements.