Ann: Field Operations Update, page-2

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Field Operations update -Wollogorang Cobalt Project, Northern Territory
 First two diamond drill holes have been completed at the Stanton Cobalt
Deposit
 Exploration drill holes at the Running Creek Prospect completed
 Additional six (6) holes to be drilled this week at the Stanton Deposit to test
for extensions to the south-east outside the existing resource envelope
 Assays for first half of Stanton resource drilling are expected before the end
of November, to be followed by more results in ensuing weeks
 Airborne magnetic survey commenced on 17 November 2017

Diamond Drilling
Two diamond drill holes have been completed in the central part of the Stanton
Cobalt Deposit. A further four (4) diamond holes are planned to be completed in
the next two weeks. Samples from the diamond drill core will be sent for
metallurgical test work in December.
Exploration Drilling
Exploration drilling at the Running Creek Prospect has been completed. A total of
34 RC (Reverse Circulation) drill holes have been drilled at the prospect testing
for extensions to the existing Co-Cu mineralisation defined by CRA Exploration in
the mid 1990’s.
Stanton Resource Extension Drilling
Having completed the exploration drilling at the Running Creek Prospect the RC
drill rig has now moved back to the Stanton Cobalt Deposit. Mineralisation was
identified in a step out drill hole to the south-east outside of the current resource
boundary. A further six (6) RC drill holes will be drilled to test for possible
extensions to the resource in this area.
Stanton Resource Assays
Assays for the first half of the resource drilling at the Stanton Cobalt Deposit are
expected before the end of November. Sample preparation and analysis are
close to completion and quality analysis and control are to be undertaken before
the reporting of results before the end of the month.
Airborne Magnetic and Radiometric Survey
A detailed airborne aeromagnetic and radiometric survey has been
commissioned over the main prospects at the Wollogorang Cobalt Project. The
survey will be flown at a 25m line spacing to cover approximately 77 km2
. The
survey commenced on 17 November and should be completed within 3-4 days.
The company expects that the survey will help prioritise drill targets and map
out areas of undiscovered alteration and/or mineralisation. Results from this
survey are expected before the end of the month.