Ann: Confirmation of Large-scale IOCG/SEDEX Targets at Frewena, page-221

Things are really getting up a head of steam in the East Tennant area. SER and GVR announcing a range of drilling and geophysical surveys today and both have ground that pretty much abuts Inca's tenements, so whatever their work leads to is likely to "value add" to our knowledge of the prospectivity of our nearby tenements. We also now know where Newcrest is drilling (Fangtooth project), thanks to the NTGS press release on successful Round 14 grant applications.

The Newcrest holes, at Fangtooth, are particularly interesting and relevant to Inca as the project area they are drilling sits along strike from our Frewena East tenement, where we have multiple priority 1 targets, and essentially between that and the Frewena East target (shown in Poets' above post as RP-FE-01 in Figure 1) and all of which are sitting on the major magnetic anomaly, running NE-SW for more than 50 km, and which Resource Potential, in their analysis of Inca's AMAGRAD geophysical data, has postulated is a major hydrothermal structure. Really looking forward to seeing what the Newcrest drilling throws up, as it could be a Segway for what we might find at our nearby priority targets.

Clearly we will all build on the learings that the various companies have over the coming months and it is a very exciting time. I think Inca is sitting in a pretty good position, with all this value adding work going around our already high priority targets on all the Frewena tenements. All I can say, is bring it on!!!!