N E W A C Q U I S I T I O N The Board is pleased to announce that it has resolved to exercise the Company’s options to acquire 100% of the issued capital of Westblade Pty Ltd, the applicant for Exploration Licence E70/2662, known as the “Calyerup Creek” project, covering a total of 54km2 located 12 km east of Jerramungup in the south of the Yilgarn Region of Western Australia. As part of Range’s due diligence enquires, the Company engaged a consulting geologist to prepare independent report and valuation of the property. A summary of the that report follows: Summary Independent Geologist’s Report & Valuation The area lies 375 kilometres southeast of Perth and is easily accessed via sealed roads from Perth, Albany or Bremer Bay. Access within the tenement is by 4WD tracks that are passable all year except following heavy rain. The project area covers a sequence of layered mafic granulites, calc-silicate gneiss, and felspar-quartz porphyry that form an open folded E-W trending lens, 6km x 0.5km. Layering within the granulites is parallel to bounding granitoids, striking 60 degrees in the east to 105 degrees in the west, with southerly dips from 35 to 60 degrees. The granulites are believed to be strongly metamorphosed tholeiitic basalts common throughout the Yilgarn. Shallow gold workings are present at three main locations within the current project area. At each location sulphidic quartz veins within sheared quartz-sericite-biotite altered granulites host mineralisation. Systematic exploration for gold and base metals has been carried out within the tenement from the late 1970s to the late 1990s. Work has included detailed soil geochemistry, rockchip sampling, and shallow RC drilling. Soil sampling outlined a coincident Au+As+Ag anomalous trend over some 4 kilometres of strike with results up to 1120ppb Au, 1620ppm As, 53ppb Ag, 3040ppm Pb, and 2.05ppm Cu. Rockchip sampling returned results including 103.0g/t Au, 8.09g/t Au, and 5.15g/t Au from quartz vein and silicified granulite lithologies. Shallow RC drilling under existing workings returned results including 1m at 35.1g/t Au and 1m at 13.03g/t Au. A shallow resource (non JORC) of 35,188t at 2.94g/t was calculated for the Southern workings.
