Ann: New tenements expand Kanowna Gold Project, page-4

An interesting interview with what I believe are the following insights.

Andrew mentioned

“The prospective strike is one of the biggest pathfinder anomalies on the goldfields.

All the others are associated with really large gold deposits, St Ives, Kundana andThe Golden Mile.”

I believe that it is most unlikely with the mentioned pathfinders, that the area of interest doesn’t hold an economical deposit.

The question is at what scale ?

Andrew then mentions the focus is on another Invincible style deposit and that is the geological model they are using.

Some background on the Invincible deposit

There were several programs of aircore and percussion holes drilled on the tenements pre 2011 with no significant results.

Goldfields carried out an aircore program in 2011 with results encouraging enough to cause a follow up diamond program in 2012.

12 diamond holes were sunk at the start of 2012.

4 of them hit significant mineralization, with the best hole 12m @5.4g/t

By the end of 201241 holes had been completed and a maiden inferred resource done.

During 2013 after further exploration there stood a 0.5m oz open pit reserve and a 1.3moz resource.

All this in not much more than 18 months from the first discovery hole.

The follow slide gives an idea of scale for comparison to CMO holdings