Ann: Indiana to Acquire South Australia Gold Projects, page-4

Indiana to Acquire South Australia Gold Projects

Suite of exploration tenements between two historic gold centres provides
exposure to the highly prospective Central Gawler Craton Gold Province

 Binding Term Sheet signed to acquire the exploration subsidiaries of unlisted Australian
explorer Patron Resources Limited – due diligence currently progressing
 Acquisition includes 14 contiguous exploration licences and one mining licence in the Central
Gawler Craton covering 2,660km2
 Outstanding exploration potential – tenement package includes a suite of advanced to early
stage targets located between the historic mining centres of Tarcoola and Tunkillia
 Historic significant drilling intercepts include:
o Earea Dam – 4m @ 10.2 g/t Au, 3m @ 13.8 g/t Au
o Boomerang – 4m @ 5.44 g/t Au, 2.0m @ 10.5 g/t Au
o Minos – 12m @ 10.36 g/t Au, 24m @ 2.18 g/t Au, 6m @ 12.37 g/t Au, 12.5m @ 2.12 g/t Au,
14m @1.51 g/t Au, 5m @ 7.32 g/t Au, 10m @ 4.64 g/t Au
o Ariadne – 6m @ 4.05 g/t Au, 11m @ 2.44 g/t Au, 12m @ 1.18 g/t Au
o Double Dutch – 34m @ 1.18 g/t Au, 18m @ 1.07 g/t Au, 25m @ 1.25 g/t Au
 Favourable acquisition terms – small upfront payment maintains IDA’s corporate flexibility
 Several drill ready targets exist across the tenement package – data review underway to
determine an immediate drill programme