re: Ann: MZI moves to finalise Tiwi Islands t... The transfer...

re: Ann: MZI moves to finalise Tiwi Islands t... The transfer documents were signed by both MZI and Stirling Zircon and subsequently the title documents were then sent to the Territory Revenue Office and Stamp Duty on the transfer was paid by MZI. This Stamp Duty is recorded by the Territory Revenue Office as being received.

The Territory Revenue Office then sent the transfer documents to the Perth offices shared by Stirling and MZI at that time. The documents were to be returned to the NT Department of Mines and Energy for final registration. However, the documents never arrived at the Perth offices.

MZI has continually requested Stirling Zircon to execute replacement transfer documents so as to allow for the registration of the Tiwi Island Tenements into MZI’s name. MZI will issue Stirling with the Shares upon this registration occurring, in accordance with its obligations under the 2009 sale agreement.