Ann: 2020 Annual Report, page-2

Morning all,

sorry to bombard, I have been digging deep reading and re-reading and the more i read the happier I become.

I have attached pg. 4 the opening letter to shareholders from the chairman and circlred 2 paragraphs I really like.

Paragraph 1 shows ARO wanting to fast track the diamond project with the 75% resource upgrade and pursuing economic viability which times perfectly with Rio shutting the doors on the Argyle mine leaving a void for ARO to fill. This is our only JORC indicated resource and plans to being upgraded from JORC inferred to JORC indicated.
This is the project which when I spoke with Vince yesterday he was "Tickled Pink" (his actual words) that I was even asking about it.

The other exciting news is Paragraph 2 circled which mentioned the Needles project contains very compelling and "LARGE" (>4.5km) target with elemental signatures with low-sulphadisation Epithermal mineralisation which is common with major sources of gold and silver. Lead and zinc are common at depth and there is usually a good correlation between silver and lead grades. Copper may be present in the deepest levels of some systems.

"The recent drilling is very encouraging and the deepest holes ever drilled on the property intersebting the targets and justifying further drilling"

"significant potential for discovery of economic gold mineralisation"

Reading between the lines I see this as we are hitting targets and chasing it further and deeper, if there were no targets hit, the team wouldnt waste time and / or money going deeper. It also shows we may have more then just gold, but other metals such as silver and lead and at deeper depths Cooper.

Alot of exciting news to come with a company valued at $10m