Ann: Big Red Trenching Program To Be Expanded, page-2

Non-Executive Director Roger Jackson commented:

“Based on the excellent assay results from the 53-metre
phase 1 trenching program, we have taken the decision to significantly expand the program with phase 2
covering at least 400 metres of trenching. The up-scaled program reflects our confidence in the discovery and
the fact that we believe more mineralisation is present. Once completed and after assays are received, we
intend to undertake a more extensive reverse circulation drilling program across the prospect which we
anticipate will commence early in the new year.

“Other exploration work is planned in the interim; we have assays pending from the Lucky Break sampling
program and further progress to be reported on the Anthony molybdenum project.”