Ann: Hawsons Drilling Program and Resource Update Completed, page-26

1. Cautionary Statement: The Exploration Target reported herein is not JORC compliant Mineral Resources. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to determine a Mineral Resource and there is no certainty that further exploration work will result in the determination of a Mineral Resource.

It is highly debatable the 4% DTR refers to Hawsons and it certainly does not refer to the fold zone development. It seems to be introducing other developments that have their cut-off level at 4% - not that 4% overall is viable. And then there is the prominent risk statement above negating everything in the release.

Nothing seems to have changed re misrepresentations in our ASX releases - that 4% is tossed in without any validation whatsoever - just (undefined) emotive claptrap drawing parallels with other projects. hawsons has MAJOR cost overheads. Where and how does this statement stand up - we have no BFS to draw on for data and without that this 4% is garbage.