About the Quarterly

Consider the following when you read this report:

1) On page 3:

Hole (TLCO88)- 7m at 1.75% (no mention of what metal but one would asume they are referring to copper).

Hole (TLCO90)- 9m at 1.07% Cu from 22m, including 5m @ 2.6% Cu and 3m @ 1.7% Cu.

Below they have Table 1- First Batch Assay Results:

Hole TLCO88- Interval 5m- True With 2.6m- From 201m- Cu 1.51%, but above this hole
7m at 1.75% Cu from 30m.

Hole TLCO90- Interval 4m- True With 2.8m- From 90m- Cu 0.92 Cu., but above the table it quotes 9m at 1.07% Cu from 22m.

The reference to the 9m at 1.75% Cu appears to be the sum of intervals from both holes with an average for both holes. The 7m at 1.75% Cu from 30m in TLCO88 I don't know?????

Also the true vertical interval is 2.6m + 2.8m= 5.4m

I find it totally confusing when the true vertical interval (true depth!!) is 5.4m NOT 9m!!!

To put it into very simple terms the holes are drilled at angles that capture a very large horizontal component which indicates the horizontal displacement of the hydrothermal fluids and very shallow depth (thinly spread over large area). All this in QUARTZ ,a known trap for this type of metal and not in the host rock.

If we factor in the remoteness and total lack of infrastructure of the West Musgraves, how can it be an economically viable project?

Could someone please explain it to me if I have misinterpreted the Quarterly Report.