Ann: Half Yearly Report and Accounts, page-2

Material Uncertainty Related to Going Concern:

We draw attention to Note 1(b) “Going concern” which states that the directors recognise that
additional funding will be required to meet the consolidated entity’s minimum administrative
and overhead expenses and to actively explore its mineral properties. Should all of the funding
options be unsuccessful, it would indicate a material uncertainty which may cast doubt about
the consolidated entity’s ability to continue as a going concern and the consolidated entity’s
ability to pay its debts as and when they fall due. Our conclusion is not modified in respect of
this matter.