Ann: Chairman's Address to Shareholders, page-2

“Sturec presents an outstanding opportunity as an asset that has a history of more than 1.5 million ounces of gold production and one which shows signs of significant growth potential.This year has seen the granting of a key underground mining permit to the company by the Slovakian Government as well as the delivery of an independent JORC (2012) resource of more than 1 million ounces of gold.In July we commenced maiden exploration at Sturec utilisingexisting underground infrastructure with stellar results,including the identification of thick high grade gold mineralisation and visible gold in three out of the first six drill holes... a truly amazing start to our exploration journey.Our most recent drill assay (UGA-04) included 90m @ 3.88 g/t Au.”