Ann: Quarterly Report, page-4

From the Quarterly:

1. Cash

At 31 December 2017, total cash held by the group was $1,789,000 with $1,000,000 remaining undrawn under the two-year Unsecured Loan Facility.

2. IP Results

The results for the IP survey at the Nagambie Mine are now being prepared ... ASX announcement as soon as full analysis is to hand.

3. Sulphide Gold

Better sulphide-gold intersections obtained from the relatively shallow diamond drilling carried out at the Nagambie Mine during the 2006/2007 year included: 26.7 metres at 5.0 g/t gold from 110 metres ...

The (previous) drilling was conducted without the assistance of any geophysics to guide the design of that program. In the light of that and the shallow depth of the sulphide-gold drilling, the better drill intersections obtained are considered very encouraging.

4. The Quarry

“The first Astec mobile, multi-frequency screening unit from the US has
been commissioned on site and is performing very well. "

Nagambie Resources is considering the purchase of  a second unit.

5. PASS

Previous media reports had indicated that tunnelling for the MMRP and the WGTP would both commence early in CY2018.

As it typically takes around 15 months to build overseas, test, ship to Australia and position below ground a large TBM,  
Nagambie Resources expects that tunnel PASS from these two projects will not require storage and management until the second or third quarters of CY 2019.