mt bevan io value, page-8

Not sure Brenjamin - my understanding was that following the joint site visit on the 16th of April 2012 (ann 19.4.12- Haematite Drilling at Mt.Mason) HAW confirmed that LCY had agreed that this drilling would be included in the last campaign. HAW had already drilled much of the Mt.Mason extension so we know that it is a significant continuation.

Mt.Mason extension is far from the only haematite on the tenements (see ann 16th June 2009 - new haematite horizon - interpreted to extend 2.8 kms. southern portion of tenement) and N1 & N2 from southern end of Eastern BIF Sep 09 Quarterly (3 targets 8-30m width and 500m -1.2km strike lengths.Assays from sampling consistently >55% Fe corresponding to cross-cutting offset faults and complete loss of magnetic response from interpreted host BIF units.) This channel haematite and haematite/geothite is outcropping/sub-outcropping multi-layered and has been proven capable of beneficiation into iron fines by simple dry screening. While results from the central section have been disappointing it occurs throughout the tenements,has yet to be fully explored and is likely highly economic to process.