ProjectsPEAK HILL GOLDFIELD.GPN, through the wholly owned...

Projects
PEAK HILL GOLDFIELD.
GPN, through the wholly owned subsidiary, Desert Resources Ltd. controls approximately 2000 km² of gold prospective tenements within the Peak Hill Mineral Field.

Peak Hill has a history of gold and base metals discovery and production beginning in 1897. The region has produced more than 2 million ounces of gold and still has several operating gold mines.

Recent exploration by GPN has:

Identified a 25 km strike line across a section of the tenure.
Drilled over 5,000 metres in a recent program.(See Aurium JV payments)
Awaiting assays and the Geological Report.
Identified similar geology to that which has hosted large gold ore bodies in the region.

Projects
JOINT VENTURES.
Montezuma Mining Ltd (MZM).
In the Robinson Range area of Peak Hill Mineral Field.
Targeting uranium & gold.
MZM have to spend $500,000 in exploration over the next three years to earn a 70% interest in the tenements.
GPN retains 30% free carry through to Bankable Feasibility.
Discovered occurrences at Ann’s Hope where mineralisation results up to 0.22% uranium were reported. Host stratigraphy showed 500 metres strike length before disappearing under cover.
Visible carnotite mineralisation within weathered meta-sediments was discovered at Billara Bore 2 Prospect. Assays returned values up to 0.092% uranium. Follow-up work continuing at Billara Bore 2 and 4.
The JV is encouraged by the style and tenor of the uranium grades being consistently reported. The Projects will continue to be systematically explored for economic occurrences.
Aurium Resources Ltd (AGU).
Three uranium and gold projects in Peak Hill Mineral Field.
Peak Hill North; Fortnum North; and Randall.
50/50 arrangement for discoveries of uranium or gold.
GPN to be reimbursed $300,000 costs of the recent drilling program.
AGU will spend $1,200,000 in exploration costs over the next three years.
AGU will contribute $1,000,000 towards any mining plant.
GPN has purchased a 40% interest, from Apogei Pty Ltd, in four tenements situated in the Northern Territory.

The four tenements are located on the Pine Creek Geosyncline, which is known to host uranium and gold mineralisation.

Three tenements are located within the Alligator Rivers Uranium Field (ARUF) while the remaining lease is 35 km from the South Alligator Valley Uranium Field.

The 40% interest was acquired for the consideration of 110 million fully paid GPN shares and 110 million GPN options.

Projects
DAVYHURST gold project. Monarch Gold Ltd.
GPN owns a royalty of the net value of gold production on the following conditions:

6% royalty on the net value of gold produced.
Payable after the initial production of 100,000 ozs/au.
68,000 ozs/au produced to date.
Next prospect to be mined has initial proven resources of 70,000 ozs/au
Possible royalty on net value of 40,000 ozs/au is USD 576,000.(Using a net figure after production costs of $240,00).

Projects
YELLOW ROCK RESOURCES Ltd. (YRR).

GPN holds 40,000,000 fully paid shares and 40,000,000 options on fully paid shares in YRR.

YRR owns:

A JORC standard vanadium project at Gabanintha 40 km south of Meekatharra.
A JORC standard uranium deposit at Nowthanna; 5 km south of Gabanintha.
A uranium project at the Gabanintha site.
Uranium project at Money Shoal Basin in the NT.
Uranium project at Douglas Range in the NT.