Ann: Drilling update No. 9 - Agbaja Iron Ore Expl, page-3

re: Ann: Drilling update No. 9 - Agbaja Iron ... My sums across all 67 holes gives 17.96m at 42.69% Fe.

Assuming an SG of 2.5 that would give 628m t across the 14sq km drill area (which I measured at 15.2sq km but have discounted for the 60 holes from the planned 800 that cannot be drilled due to terrain).

Looking for metallurgical testing to show Fe improvement up to 55% (pDSO type ore), and a lowering of impurities as the ore shakes-out of the friable host sandstone, with basic processing.

Not forgetting of course that 14sq km represents less than 10% of the 151.7sq km area of this tenement, with 10 step-out diamond drill holes to infer several billion tonnes outside of the 740 RC drill program area.

Maiden Q3 JORC getting ever closer.