Ann: Half Year Financial Statements, page-2

Very exciting, can't wait for the air-core drilling to start. Mt Berghaus is at the final stages for approval.

The Company was also advised that Exploration Licence Application E45/5041, Mr Berghaus, had also
progressed to final government approval for grant.
For the Roberts Hill tenement, the Company is nearing the final stages for requesting the necessary
statutory approval for a 16,000 to 20,000 metre scout air-core drilling campaign.

Both Roberts Hill and Mt
Berghaus contain locations with compelling similarities to the De Grey gold prospects of Hemi, Mt
Berghaus, Mallina and Shaggy. In particular, the Company considers there are several areas which have
high exploration significance, where multiple faulting and lineament intersection sites occur.