Ann: Tisova Co Au Cu Project Update - Czech Republic, page-9

CEO Dr Andrew Tunks said. “The assay results to date are disappointing and not in line with our
expectations. Thick zones logged as disseminated sulphides have returned lower than expected values
for the target metals and where grades are reasonable, thicknesses are narrow and below minimum
mining widths. We await the results of the second two holes before formulating our future exploration
plans.
Clearly the material we have drilled is substantially different from the samples we collected from the
Tisová waste dumps. This points to a strong metal zonation within the Tisová orebody. We will
review the 3D model of the sulphides and look to investigate geophysical methods to identify further
sulphide bodies as a possible source of Co mineralisation in the dumps.