Wiluna West Project

The Wiluna West Project is located 40km southwest of the township of Wiluna in the northeastern Goldfields of Western Australia and 450km north-north-west of Kalgoorlie and is comprised of exploration licence 53/2031. The Wiluna West Project is immediately south and adjoining the Wiluna West Iron Ore Project presently being mined by Golden West Resources Limited. Golden West Resources has conducted drilling and geochemical sampling on the current tenure since 2005. The drilling is all rotary circulation (RC) 4 ½ inch hammer drilling by Beacon Lights using a Schramm Rig. The samples were sent to Ultratrace Laboratory in Perth for analysis of Fe using XRF202 and Loss in Ignition using LOITGA. Some significant drill intercepts by Golden West Resources from 2005 to 2014 include:

• WWRC0119: 13m @ 59.54% Fe, 0.086% P, 6.08% SiO2, 3.24% Al2O3, 4.92% LOI from 22m
• WWRC0113: 7m @ 56.25% Fe, 0.04% P, 11.49% SiO2, 2.65% Al2O3, 4.55% LOI from 0m
• WWRC0118: 6m @ 57.5% Fe, 0.07% P, 7.56% SiO2, 3.18% Al2O3, 7.07% LOI from 6m
• WWRC0120: 6m @ 58.9% Fe, 0.08% P, 9.72% SiO2, 1.09% Al2O3, 4.51% LOI from 59m
• WWRC1384: 5m @ 58.67% Fe, 0.046% P, 7.97% SiO2, 4.28% Al2O3, 3.54% LOI from 19m and 5m @ 59.26% Fe, 0.013% P, 9.45% SiO2, 1.13% Al2O3, 1.36% LOI from 36m

Exploration activities completed to date across the Wiluna West Project have confirmed the presence of high-grade hematite mineralisation warranting further investigation. Targeted drilling is required to determine the extent and tenor of mineralisation.