Spalding Project

No exploration was undertaken during the September Quarter of 2011.

Future work in the area will concentrate on defining where significant structures disrupt doleritic units in the geological sequence then drill testing both stratigraphic parallel and cross cutting trends in these zones.

Washpool and Wheal Sarah RAB Drilling

A program of Rotary Air Blast Drilling has been planned for the Washpool and Wheal Sarah prospects in the Spalding Project. Land Access Compensation Agreements have been signed with landholders and Exploration Work Approvals sent to PIRSA.

The RAB drilling program consisting of up to 5000m is planned to to begin once the Company is confident in its revenue stream at its Mountain of Light project. It will test the highest ranked geochemical anomalies generated from FPXRF analysis of the prospects.