Apromising start to a new project,Easy tosee why Allup is...

Apromising start to a new project,

Easy tosee why Allup is excited by these results:

PinkBark:

• Granted tenement (E63/2139)
• Potential for a significant size resource
• Solid if not outstanding initial raw grades fromgrab samples
• “Program of Works” application submitted – noroadblocks anticipated?
• Located largely on cleared farm land
• Landowner access agreements in place?
• Close to port of Esperance
• Promising stuff!

The contrast however between the Pink Bark and Antwalker projects isstark!

Antwalker:

• EL70/5455 was applied for over two years ago andstill bogged down
• Exploration target located less than 1000m fromlocal residences.
• No social licence from local or broader community
• Located within the Warren River Water catchment(DWER)
• Located within the Tone State Forest (DBCA)
• Located adjacent to the Dordagup National Park(DBCA)
• Significant areas of Old Growth Forest (as mappedby DBCA) located within the tenement and exploration target (prospectus)
• The exploration target (prospectus) sits over theentire Little Quinninup Brook.
• The open pit, should it be mined, would leave a+25m deep void in the middle of Little Quinninup Brook…difficult/impossible toadequately rehabilitate.
• Mine Closure Plan (required for mine approval)would be extremely problematic based on current assumptions.

Hard to understand why Allup have includedAntwalker in its mix of projects when it has so many encumbrances and will bedifficult from start to finish.
Project risk, particularly in the SouthernForest as Antwalker is, should not be underestimated.
It would appear that Allup may have done justthat?


Pink Bark

Antwalker