Ann: Revised Closure Date for Godolphin Resources SPP, page-4

Amigos, the recent announcement with regards to the diamond drilling at Narraburra has some hidden clues. As background, you may have noticed that in Tables 1 and 2, the average levels of rare earth elements and rare metals were pretty low - in fact pretty disappointing IMO. But remember that these results have some caveats. In particular, "Due to the inherent nature of over-representation of LOD (limit of detection) when taking spot pXRF readings on drill core, average values in the hole may potentially be diluted. " So let's examine this quote. We have to go to Appendx 2 at the end of the 27-page document. We can see what the team is talking about with an example. Look at a section of the table ofr the pXRF's for the interval from 85.5m to 94.5m of hole 001, which is copied below. Two magnetic-type rare earths are Pr and Nd, and we can see that many intervals are less than the detection limit (<LOD), but several intervals have quite good levels. Some other metals are a bit variable, but not as variable (eg zircon,niobium, Y, Rb). The other drill cores have similar results. It shows that the levels of REO and rare metals can be quite high, but are not uniform. Perhaps. the higher grades are in veins throughout the granite ore body? To me, the take home message is that Narraburra's orebody has good grades of metals and REOs in fresh rock. That is an important results, because the previous owners built the resource around the weathered layers that lie above the granite orebody. Now the team knows that the large orebody that lies beneath, has a good endowment of metals. How deep does this endowment go? The assays should provide some important answers and indicate where and what the team does next. Good luck to all.

Copy from the tabel of pXRF lelves for Hole 001 - levels of metal in the fresh rock towards the end of the hole.