Mt Padbury Project

The Mt Padbury Project is located 150km north of Meekatharra in the Mid-West region of Western Australia and is comprised of exploration licence 52/3701. Extensive geological mapping of Mt Padbury Project area has been conducted at 1:5,000 scale across the tenure. In areas of particular interest, such as haematite pods the mapping scale changed to 1:1,000. Mapping has indicated that three discrete Banded Iron Formations (“BIF”) are present within the Robinson Range Formation across the Mt Padbury Project.

Mt Padbury was drilled by Padbury Mining Ltd in 2012. The Phosporous grades are noted as elevated. Multiple significant drilling intercepts included:

• HMP19: 92m @ 55.68% Fe, 0.52% P, 3.62% SiO2, 4.19% Al2O3, & 9.46% LOI from surface
• HMP011: 51m at 56% Fe, 0.49% P, 3.82% SiO2, 4.30% Al2O3, & 11.31% LOI from 1m
• HMP14: 43m at 55.1% Fe, 0.46% P, 3.16% SiO2, 4.02% Al2O3, & 9.65% LOI from 4m
• HMP15: 45m at 52.57% Fe, 0.51% P, 8.16% SiO2, 4.3% Al2O3, & 8.98% LOI from 4m and 20m at 57.9% Fe, 0.30% P, 4.79% SiO2 2.28% Al2O3 & 7.95% LOI from 54m
• HMP17: 47m at 54.7% Fe, 0.46% P, 4.63% SiO2, 4.08% Al2O3 & 10.22% LOI from 4m
• HMP21: 49m at 56.9% Fe, 0.42% P, 3.91% SiO2, 3.54% Al2O3, & 9.04% LOI from 16m
• HMP22: 15m at 55.4% Fe, 0.52% P, 6.52% SiO2, 3.56% Al2O3, & 8.58% LOI from surface.