ARK MINES LIMITED — Capital/Financing Update 2014

Nov 9, 2014

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Several Sig n ificant Gold Inter c epts at G olden Honcho

Sydney, 10 November 2014: Ark Mines Ltd (ASX: AHK) has successfully completed a drilling program at its Golden Honcho prospect at Frances Creek in the Norther n Territory (refer to figure 1, page 3), and the b oard of AHK is very pleased with the results of that work undertaken during October 2 0 14.

AHK Managing Director Rog e r Jackson said: “This is an exciting step in t h e development of the Frances Creek goldfield, w hich underlines the potential for near term mining”.

Golden Honcho Drilling Prog r am Highlights:

• 26 inclined holes drill e d with average depth 40m (see Table 1, page 4)

• � 24 out of 26 inclined h oles have intersected gold

• Best new intersections: 2m @ 21g/t; 2m @ 11.9g/t; 2m @ 10.5g / t; and 3m @7.5g/t with 21 intersections o ver 1m over 5g/t

• Best previous interse c tions (see Table 2 page 6): 5m @ 19.11g / t; 2m @ 13.29g/t; 2m@ 11.61g/t; 3m @ 10.96g/t and 3m @ 10.66 g/t with 9 int e rsections over 1m over 5g/t

• The latest drill results show similar grades and widths to costeani n g work

• Extended the strike fr o m previous drilling programs by some 60m (from 200m)

• � Deeper holes have d e termined the oxide zone to reach down to a vertical depth of between 40 and 50m, which is deeper than expected.

Frances Creek Project Highli g hts:

• Golden Slips prospec t is only 1km NNE from Golden Honcho pr o spect with 5 other identified gold expos e d reefs within a 2km zone, Golden Amigo, Golden Austerian, Golden Senorita, Gol d en Gulf and Golden Bandito (see Figure 6, p age 11). All within the Ark tenement

• Sub Vertical quartz v e ins and adjacent gold bearing alteration zo n es outcropping on top of steep ridge cre s ts are amenable to simple, low cost, open pit mining

• � Prospects 20km from a gold plant with current capacity to proces s oxide gold � Over 2,400 metres of strike length at Frances Creek (comprising g old exposed reefs) with only 390 metres d rilled to date (see Table 2, page 6)

• � Close to Ark’s Mt Por t er 34,000oz Au JORC Resource and Pine Creek township (This has not materially changed)

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Immediate Plans:

• Undertake desk work to bring Golden Honcho prospect to JORC compliant mineral resource

• Assay best mineralis e d intercept pulps from October 2014 Golden Honcho drilling program for extra ele m ent suites (Cu, Pb, Zn, Ag, As, Bi, S and Mn)

• � Complete study of historical data and geological information a t Golden Slips – excellent gold interce p ts previously identified (see Table 2, page 6) including: 4m @ 47.54g/t; 2m @ 10.07g/t and 2m @9.92g/t

• Design and undertak e an RC program for Golden Slips prospect t o infill and extend the strike (see Table 3 and Figure 7, page 12,14)

• � Open discussions wit h local gold plant to toll treat ore from Mt. Porter and Frances Creek

AHK remains focused on its s t rategy to mine high grade gold and earn re v enue as soon as is practicable. The board will c o ntinue its current efforts to locate and se c ure other suitable projects in Australia that sup p ort the AHK strategy.

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Figure 1 – Mt. Porter and Frances Creek Project Location
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Table 1 – Golden Honcho Pro s pect Drill Results (Not True Thickness) (refer t o figure 5 for drill locations)

				October 2014
Hole ID	Eastin g GDA94	Northing **GDA94 **	RL	Azim mag	Azim True	Dip	Total Depth (m)	From (m)	To (m)	Interv al (m)	Au (g/t)
FCRC054	809562	8493803	19 0	275	278.5	-57	42	19	21	2	1.84
FCRC055	809536	8493732	19 8	267.5	271	-57	42	6	8	2	0.14
								28	29	1	0.35
FCRC056	809537	8493732	19 8	266.5	270	-70	36	25	28	3	0.69
FCRC057	809543	8493746	19 7	266.5	270	-57	30	23	24	1	7.17
FCRC058	809544	8493746	19 7	266.5	270	-70	54	13	14	1	1.58
								47	50	3	5.69
								incl. 48	49	1	12.0
FCRC059	809562	8493816	19 8	270	273.5	-57	24	5	6	1	1.07
								11	14	3	2.27
								incl. 13	14	1	5.23
FCRC060	809574	8493813	19 7	278	281.5	-70	72	67	68	1	0.11
FCRC061	809569	8493902	24 6	262	265.5	-57	24	8	14	6	0.52
FCRC062	809570	8493902	24 6	262	265.5	-70	30	0	3	3	1.60
								incl. 0	1	1	3.04
								19	20	1	0.91
FCRC063	809569	8493887	24 0	264.5	268	-57	18	6	8	2	6.63
								incl. 6	7	1	11.2
FCRC064	809570	8493887	24 0	264.5	268	-70	30	12	17	5	5.61
								incl. 13	15	2	11.9
FCRC065	809572	8493870	23 3	262.5	266	-57	18	7	10	3	6.84
								incl. 7	8	1	14.9
FCRC066	809573	8493870	23 3	262.5	266	-70	30	12	14	2	2.51
FCRC067	809570	8493852	22 2	262	265.5	-57	24	7	9	2	1.32

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FCRC068	809571	8493852	22 2	262	265.5	-70	30	12	15	3	5.16
								incl. 12	13	1	12.1
FCRC069	809574	8493852	22 2	263	266.5	-70	54	22	24	2	21.0
FCRC070	809567	8493832	20 9	271	274.5	-57	30	8	13	5	4.87
								incl. 9	11	2	10.5
FCRC071	809582	8493829	20 9	292	295.5	-70	66	53	56	3	7.85
								incl. 54	55	1	12.0
FCRC072	809549	8493752	19 5	266.5	270	-57	42	11	12	1	2.74
								25	26	1	6.50
FCRC073	809550	8493752	19 5	266.5	270	-70	72	17	19	2	0.17
								50	52	2	3.04
								55	61	6	2.69
								incl. 55	56	1	5.33
FCRC074	809576	8493799	19 0	282	285.5	-70	66	60	61	1	0.16
FCRC075	809556	8493765	19 3	265	268.5	-57	36	6	7	1	1.21
								13	16	3	1.95
FCRC076	809557	8493765	19 3	265	268.5	-70	60	6	10	4	4.12
								incl. 7	8	1	10.6
								37	38	1	1.47
FCRC077	809560	8493778	19 2	284.5	288	-57	24	9	12	3	5.59
								incl. 10	11	1	14.4
FCRC078	809561	8493777	19 2	284.5	288	-70	24	19	21	2	0.42
FCRC079	809572	8493770	19 1	282	285.5	-70	72
Total	26	holes					1050

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Table 2 Previous Drill Inters e ction Highlights at Frances Creek (Not Tru e Thickness)(as previously announced by A r afura)

Hole Number	From m	To m	Interval m	Au grams	Prospect
FCRC015	16	17	1	1.02	G olden Slips
FCRC016	6	8	2	2.47	G olden Slips
FCRC017	15	19	4	47.54	G olden Slips
FCRC017	21	23	2	1.68	G olden Slips
FCRC018	27	28	1	3.3	G olden Slips
FCRC019	27	28	1	1.47	G olden Slips
FCRC020	27	28	1	2.88	G olden Slips
FCRC023	33	34	1	10.32	G olden Slips
FCRC024	32	34	2	9.92	G olden Slips
FCRC035	32	33	1	5.07	G olden Slips
FCRC035	45	47	2	1.44	G olden Slips
FCRC037	33	35	2	10.07	G olden Slips
FCRC038	3	4	1	1.38	G olden Slips
FCRC040	10	12	2	1.67	G olden Slips
FCRC041	12	14	2	6.39	G olden Slips
FCRC042	13	14	1	2.58	G olden Slips
FCRC044	17	18	1	3.33	G olden Slips
FCRC045	1	3	2	1.56	G olden Slips
FCRC045	8	11	3	1.78	G olden Slips
FCRC045	14	15	1	3.75	G olden Slips
FCRC046	3	4	1	1.07	G olden Slips
FCRC046	7	8	1	2.06	G olden Slips
FCRC047	30	31	1	2.31	G olden Slips
FCRC048	46	48	2	2.09	G olden Slips
FCRC026	19	21	2	6.51	Go lden Honcho
FCRC027	17	19	2	3.88	Go lden Honcho
FCRC027	25	27	2	11.61	Go lden Honcho
FCRC028	14	19	5	4.44	Go lden Honcho
FCRC029	9	10	1	1.38	Go lden Honcho
FCRC029	14	17	3	10.66	Go lden Honcho
FCRC029	23	24	1	1.1	Go lden Honcho
FCRC029	30	31	1	5.08	Go lden Honcho
FCRC030	14	16	2	8.15	Go lden Honcho
FCRC030	28	29	1	3.89	Go lden Honcho
FCRC031	11	12	1	1.06	Go lden Honcho
FCRC031	22	24	2	13.29	Go lden Honcho
FCRC032	15	16	1	2.85	Go lden Honcho
FCRC033	26	27	1	2.88	Go lden Honcho
FCRC034	52	53	1	3.3	Go lden Honcho
FCRC050	35	36	1	1.28	Go lden Honcho
FCRC051	29	32	3	9.59	Go lden Honcho
FCRC052	17	20	3	10.96	Go lden Honcho
FCRC053	30	35	5	19.11	Go lden Honcho

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Figure 2 Golden Honcho Prospect Cross Section

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Figure 3 Golden Honcho Prospect Cross Section

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Figure 4 Golden Honcho Prospect Cross Section

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Figure 5 Golden Honcho Prospect Drill Traces

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Figure 6 Golden Honcho Prospect Location Relative to Other Frances Creek Prospects

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Table 3 Golden Slips Prospect Previous Drill Results (announced by Arafura)

Hole ID	Easting **GDA94 **	Northing **GDA94 **	R L	Azim mag	Azim True	Dip	Total Depth (m)	Fro (m m )	To (m)	Inter val (m)	Au (g/t)
FCRC015	809919	8494766	2 72	265.5	270	-55	39	16	17	1	1.02
FCRC016	809918	8494746	2 76	265.5	270	-55	33	6	8	2	2.48
FCRC017	809915	8494725	2 80	265.5	270	-55	30	15	19	4	47.5
								incl. 16	18	2	92.4
								incl. 16	17	1	144.0
								21	23	2	1.7
FCRC018	809911	8494706	2 83. 5	265.5	270	-55	30	27	28	1	3.30
FCRC019	809906	8494687	2 84. 2	265.5	270	-55	30	27	28	1	1.47
FCRC020	809900	8494668	2 84	265.5	270	-55	39	27	28	1	2.88
FCRC023	809897	8494609	2 85	265.5	270	-55	48	33	34	1	10.30
FCRC024	809899	8494589	2 83. 9	265.5	270	-55	39	32	34	2	9.92
								incl. 32	33	1	18.0
FCRC035	809543	8493759	2 05. 25	265.5	270	-70	60	32	33	1	5.07
								45	47	2	1.44
FCRC037	809566	8493819	2 07. 5	265.5	270	-70	45	33	35	2	10.1
								incl. 33	34	1	15.8
FCRC038	809879	8494569	2 82. 2	85.5	90	-70	27	3	4	1	1.38
FCRC040	809879	8494609	2 85	85.5	90	-70	22	10	12	2	1.67
FCRC041	809880	8494628	2 84. 8	85.5	90	-70	22	12	14	2	6.40
								incl. 13	14	1	10.2
FCRC042	809880	8494649	2 84	85.5	90	-70	25	13	14	1	2.58

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FCRC044	809887	8494687	2 84	85.5	90	-70	25	17	18	1	3.33
FCRC045	809893	8494706	2 82	85.5	90	-70	25	1	3	2	1.57
								8	11	3	1.78
								14	15	1	3.75
FCRC046	809901	8494788	2 70	85.5	90	-70	55	3	4	1	1.07
								7	8	1	2.06
FCRC047	809920	8494746	2 76	265.5	270	-70	55	30	31	1	2.31
FCRC048	809920	8494766	2 73	265.5	270	-70	55	46	48	2	2.09
Target Zones
Yellow - 1.00-4.99g/t Au intercept
Orange - 5.00-9.99g/t Au intercept
Red - >10.0g/t Au intercept

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Figure 7 Golden Slips Prospect P revious Drill Traces (as announced by Arafura)

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JORC Code, 201 2 Edition – Table 1 – Gol d en Honcho Prospect – MA 389 – Reverse Cir c ulation - Drilling Results JORC 2012

Section 1 Sampling T e chniques and Data (Criteria in this section apply to a ll succeeding sections.)

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Sampling	•	Nature and quality of sam pling (eg cut channels,	•	Reverse Circulation (RC) dr illing was carried out on the current
techniques		random chips, or specific specialised industry		program with drill cuttings co llected every one metre.
		standard measurement tools appropriate to the	•	Samples were passed throu gh a cyclone and attached riffle
		minerals under investiga tion, such as down hole		splitter in order to obtain a la rger sample collected in a plastic
		gamma sondes, or hand held XRF instruments,		bag and a smaller represent ative sample weighing
		etc). These examples sh ould not be taken as		approximately 3kg was colle cted in a calico bag for each metre
		limiting the broad meani ng of sampling.		drilled.
	•	Include reference to mea sures taken to ensure	•	Intervals for initial 1m assay were selected on a visual basis
		sample representivity an d the appropriate		and submitted to the laborat ory, pulverised to produce a 50g
		calibration of any measu rement tools or systems		charge for fire assay and the n analysed for gold. Standards
		used.		and duplicates were not inse rted into the original sample
	•	Aspects of the determina tion of mineralisation that		sequence but instead indust ry standard Gannett standards for
		are Material to the Public Report.		a range of values were used with each laboratory job, included
	•	In cases where ‘industry standard’ work has been		at the end of each samples equence submitted.
		done this would be relati vely simple (eg ‘reverse	•	Each sample collected was noted qualitatively for moisture
		circulation drilling was us ed to obtain 1 m		content with the vast majorit y of samples collected being
		samples from which 3 kg was pulverised to		essentially dry.
		produce a 30 g chargefo r fire assay’). In other	•	Following receiving assay re sults duplicate, approximately 3kg
		cases more explanation may be required, such as		samples were collected from the retained plastic bag samples
		where there is coarse go ld that has inherent		for the full range of the assa y values noted. These samples
		sampling problems. Unu sual commodities or		were obtained by means of a stand-alone riffle splitter for
		mineralisation types (eg submarine nodules) may		approximately one in eighto f the samples originally assayed.
		warrant disclosure of de tailed information.
Drilling	•	Drill type (eg core, rever se circulation, open-hole	•	Kelly Drilling was contracted to undertake RC drilling.
techniques		hammer, rotary air blast, auger, Bangka, sonic,	•	Drilling was completed using a 5 3/8 inch (13.562cm) face
		etc) and details (eg core diameter, triple or		sampling hammer.
		standard tube, depth ofd iamond tails, face-	•	RC drilling was inclined (refe r Table 1 for details). No
		sampling bit or other typ e, whether core is		downhole surveys were und ertaken for this program.
		oriented and if so, by wh _at method, etc). _
Drill sample	•	Method of recording and assessing core and chip	•	A visual estimate of percent age recovery was made for each
recovery		sample recoveries andr esults assessed.		metre drilled.
	•	Measures taken to maxi mise sample recovery	•	Each sample was qualitative ly logged for moisture content and
		and ensure representati ve nature of the samples.		sample size consistency oft he smaller calico bag sample
	•	Whether a relationshipe xists between sample		continuously monitored whil e drilling.
		recovery and grade and whether sample bias may	•	This phase of drilling is follo w-up to previous drilling carried out
		have occurred due to pre ferential loss/gain of		in 2004 utlising a smaller dr illing rig and sample size so it is
		fine/coarse material.		problematic to fully make co mparisons from this phase of
				drilling.
Logging	•	Whether core and chips amples have been	•	All drill cuttings qualitatively logged and representative cuttings
		geologically and geotech nically logged to a level		collected in chip trays on on e metre intervals.
		of detail to support appro priate Mineral Resource	•	Qualitative logging includes colour, lithology, description,
		estimation, mining studie s and metallurgical		weathering, alteration andm ineralisation. Water table depths
		studies.		and key weathering marker horizons also recorded.
	•	Whether logging is quali tative or quantitative in	•	Each hole logged over thee ntire interval drilled.
		nature. Core (or costean , channel, etc)
		photography.
	•	The total length and perc entage of the relevant
		intersections logged.
Sub-sampling	•	If core, whether cut or sa wn and whether quarter,	•	See sampling section for ad escription of sampling and
techniques and		half or all core taken.		duplicate sampling techniqu es.
sample	•	If non-core, whether riffle d, tube sampled, rotary	•	Duplicate samples were tak en using the same riffle splitting
preparation		split, etc and whether sa mpled wet or dry.		method as collected from th e drilling rig when the holes were
	•	For all sample types, the nature, quality and		drilled.
		appropriateness of thes ample preparation	•	Duplicate sample results for a range of assay values indicate
		technique.		that original assay results ar e largely reproducible, with no
	•	Quality control procedur es adopted for all sub-		obvious sample bias.
		sampling stages to maxi mise representivity of	•	The nature, qualityand app ropriateness of the sampling

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		samples.		technique are considered ad equate for the style of
	•	Measures taken to ensu re that the sampling is		mineralisation and are in lin e with, and directly comparable to
		representative of the ins itu material collected,		the sampling techniques use d by the previous explorers in
		including for instance res ults for field		their 2004 program for whic h the results are reported here
		duplicate/second-half sa mpling.		(Table 2).
	•	Whether sample sizesa re appropriate to the grain	•	Sample sizes are considere d appropriate for the nature and
		size of the material being sampled.		grain size of the gold minera lisation intersected.
Quality of assay	•	The nature, quality anda ppropriateness of the	•	A certified and accredited la boratory, North Australian
data and		assaying and laboratory procedures used and		Laboratories (NAL) was use d for the current assays and is the
laboratory tests		whether the technique is considered partial or		same laboratory used by the previous explorers in 2004.
		total.	•	Samples were analysed util ising the industry standard fire
	•	For geophysical tools, sp ectrometers, handheld		assay technique using a 50g charge and AAS finish (0.01ppm
		XRF instruments, etc, th e parameters used in		detection limit). All assayso ver 1 ppm have been routinely re-
		determining the analysis including instrument		assayed at least once and in some cases twice to establish
		make and model, readin g times, calibrations		acceptable levels of accurac y and precision.
		factors applied and their derivation, etc.	•	Internal certified QA/QC isc arried out by NAL. In addition,
	•	Nature of quality control procedures adopted (eg		industry standard Gannetts tandards for a range of values
		standards, blanks, duplic ates, external laboratory		were used with each laborat ory job, included at the end of
		checks) and whether acc eptable levels of		each sample sequence.
		accuracy (i.e. lack of bia s) and precision have
		been established.
Verification of	•	The verification of signifi cant intersections by	•	Primary data is verified onp aper reports certified by the
sampling and		either independent or alt ernative company		laboratory and significant int ersections initially calculated by
assaying		personnel.		direct reference to the drill lo gs produced in the field. The data
	•	The use of twinned hole s.		is then entered into Excel sp readsheets for further processing
	•	Documentation of prima ry data, data entry		and cross validation checks .
		procedures, data verifica tion, data storage	•	No adjustment has been ma de to the data except replacing L
		(physical and electronic) protocols.		for gold assays <0.01ppmw ith a numerical value.
	•	Discuss any adjustment to assay data.
Location of data	•	Accuracy and quality of surveys used to locate	•	All co-ordinates are recorde d in GDA94 MGA Zone 52.
points		drill holes (collar and do wn-hole surveys),	•	Previous drilling originally re ported to the NT DME in the
		trenches, mine workings and other locations used		AGD66 datum was initially lo cated in the field with hand-held
		in Mineral Resource esti mation.		Garmin GPS Garmin 60CSx c, but around ± 5m or worse
	•	Specification of the grid system used.		accuracy not considered suf ficiently accurate to define the
	•	Quality and adequacy of topographic control.		relatively closely spaced dri ll spacing used for the current infill
				and extension program, sot ape/compass survey conducted to
				obtain approximately ± 1ma ccuracy.
			•	Current drillholes at the com pletion of the program then
				surveyed using Real TimeK inematic (RTK) by nearby minesite
				(Frances Creek Iron Ore Mi ne) surveyor for highly accurate 1-
				2cm accuracy co-ordinatea nd topographic control.
			•	Previous drillholes then tran sformed to GDA94 MGA Zone 52
				and current drillhole position s related back to the old holes with
				confidence to at least ± 1-2m and RLs within approximately ±
				0.1-0.2m.
			•	Due to the commonly shallo w depths of the holes (average
				around 40m) no downholes urveys were carried out for the
				current program.
Data spacing and	•	Data spacing for reportin g of Exploration Results.	•	Line spacings between drilli ng lines are variable because of
distribution	•	Whether the data spacin g and distribution is		the relatively steep terraina nd the need to infill in areas of
		sufficient to establish the degree of geological and		previous highest grade resu lts. Current line spacing following
		grade continuity appropr iate for the Mineral		the completion of the curren t program varies between drilling
		Resource and Ore Rese rve estimation		lines 6-20m apart.
		procedure(s) and classif ications applied.	•	The relatively steep terrainh as also resulted in several holes
	•	Whether sample compos iting has been applied.		past and present to be drille d within 1-1.5 metres of each other
				with shallow and steeper dip s, in order to obtain shallow
				intercepts 5-10 apart vertica lly.
			•	It is considered that the data spacing that now exists from the
				current drilling program atG olden Honcho will allow for the
				consideration of a JORC Mi neral Resource to be calculated for
				this deposit.
			•	No sample compositing has been carried out for the current
				program (see above).
Orientation of	•	Whether the orientation of sampling achieves	•	The drilling program has bee n designed to intersect a steeply
data in relation to		unbiased sampling of po ssible structures and the		east dipping or sub-vertical lode structure with westerly
geological		extent to which this is kn own, considering the		directed holes at inclinations of either 57° or 70° and it is
		deposit type.		considered that thisprovide s a consistent unbiased result.

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Criteria	JORC Code explanation	JORC Code explanation		Commentary	Commentary
structure	•	If the relationship betwee n the drilling orientation		•	As the drilling orientation ha s been consistent and the lode
		and the orientation of ke y mineralised structures			orientation also predictable at this stage of exploration it is not
		is considered to have int roduced a sampling bias,			considered that a sampling bias has been introduced.
		this should be assessed and reported if material.
Sample security	•	The measures taken toe nsure sample security.		•	Sample intervals sent to the laboratory have been collected in
					individually numbered calico bags and then loaded into large
					plastic bags annotated with the sample sequence. These
					bags have then been transp orted directly from the drillsite to
					the NAL laboratory in PineC reek by Ark Mines (AHK) contract
					personnel.
				•	Retained coarse residue an d assay pulps are currently
					securely stored at the NALl aboratory in Pine Creek.
Audits or reviews	•	The results of any audits or reviews of sampling		•	No audits or reviews underta ken at this stage of the
		techniques and data.			exploration program.

Section 2 Reporting o f Exploration Results

(Criteria listed in the preceding s ection also apply to this section.)

Criteria	JORC Code explanat ion	Commentary
Mineral	• Type, reference nam e/number, location	•All results pertaining to the current program are
tenement and	and ownership inclu ding agreements or	from MA 389, held by Frances Creek Pty Ltd a
land tenure	material issues with third parties such	wholly owned subsidia ry of Territory Resources
status	as joint ventures, pa rtnerships,	Ltd. AHK has signeda n Agreement with Arafura
	overriding royalties, native title	Resources Ltd (ARU) whereby they can earn up
	interests, historical sites, wilderness or	to 70% of the gold righ ts currently held by ARU
	national park and e nvironmental	with an expenditure of $400,000 by 26 August
	settings.	2015 with an initial ear n-in of $200,000 due by 26
	• The security of the tenure held at the	December 2014.
	time of reporting alo ng with any known	•MA 389 is located onP L 815/ Mary River West
	impediments to obta ining a licence to	Station and PPL 1111/ Ban Ban Springs Station.
	operate in the area.	•AHK has consulted wit h the Traditional Owners
		(TOs) of MA 389, theJ aywon People on cultural
		heritage and the TOsh ave been kept informed of
		exploration activities c arried out by AHK.
Exploration	• Acknowledgment an d appraisal of	•The last phase of expl oration work has been
done by other	exploration by other parties.	carried out by ARU an d comprised RC drilling in
parties		2004 that is referred to in the text and in Tables 2
		and 3 of this announce ment.
Geology	• Deposit type, geolo gical setting and	•The drilling has targete d sub-vertical to steeply
	style of mineralisati on.	dipping, ferruginous qu artz lodes and alteration
		zones originally found outcropping on steep ridge
		crests. Both the Golde n Honcho (drilled this
		program) and Golden Slips are N to NNE oriented
		mineralised shoots on the same structure and
		hosted within the mass ive sandstone sequence of
		the Mundogie Sandsto ne on the west limb of the
		Thelma Anticline.
Drill hole	• A summary of all in formation material to	•All drillhole information is retained in the AHK
Information	the understandingo f the exploration	database and full drillh ole details are shown in
	results including at abulation of the	Table 1 accompanying this document.
	following informatio n for all Material drill	•No material informatio n is excluded.
	holes:
	o easting and nort hing of the drill hole
	collar
	o elevation or RL (Reduced Level –

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Criteria	JORC Code explanat ion	Commentary
	elevation above sea level in metres)
	of the drill holec ollar
	o dip and azimuth of the hole
	o down hole length and interception
	depth
	o hole length.
	• If the exclusion of th is information is
	justified on the basi s that the
	information is notM aterial and this
	exclusion does not detract from the
	understanding of th e report, the
	Competent Person should clearly
	explain why this ist he case.
Data	• In reporting Explora tion Results,	•In reporting of mineral ised intercepts quoted in
aggregation	weighting averaging techniques,	this announcement, th ese are shown without top
methods	maximum and/orm inimum grade	cuts, using standard a veraging techniques with a
	truncations (eg cutt ing of high grades)	maximum internal dilut ion of two metres, non-
	and cut-off gradesa re usually Material	consecutive for minera lised intervals stated > 1 g/t
	and should be state d.	gold.
	• Where aggregate in tercepts incorporate	•Higher grade results,g enerally over 1-2m lengths
	short lengths of high grade results and	within longer lengthso f lower grade results are
	longer lengths of lo w grade results, the	indicated where consid ered significant (refer
	procedure used for such aggregation	Tables 1 and 3).
	should be stated an d some typical	•There are no metal eq uivalents reported.
	examples of sucha ggregations should
	be shown in detail.
	• The assumptions us ed for any reporting
	of metal equivalent values should be
	clearly stated.
Relationship	• These relationships are particularly	•Intercepts quoted ared ownhole widths with the
between	important in the rep orting of Exploration	drillholes angles at 57 °, 60° and 70° to intersect a
mineralisation	Results.	steeply dipping to sub- vertical lode structure (refer
widths and	• If the geometry of th e mineralisation	Figures 2, 3 and 4).
intercept	with respect to thed rill hole angle is	•The geometry of them ineralisation relative to
lengths	known, its nature sh ould be reported.	drillhole angle is menti oned in the text and shown
	• If it is not known an d only the down hole	in diagrams (see abov e). Tables 1, 2 and 3
	lengths are reported , there should be a	denote not true thickne ss as stated.
	clear statement tot his effect (eg ‘down
	hole length, true wid _th not known’). _
Diagrams	• Appropriate mapsa nd sections (with	•See text figures showi ng drillhole locations with
	scales) and tabulati ons of intercepts	traces for both of theG olden Honcho and Golden
	should be included for any significant	Slips prospects along with cross-sections (see
	discovery being rep orted These should	above).
	include, but not bel imited to a plan view
	of drill hole collar lo cations and
	appropriate section al views.
Balanced	• Where comprehens ive reporting of all	•Table 1 accompanying this document also
reporting	Exploration Results is not practicable,	describes targeted sub -economic mineralised gold
	representative repo rting of both low and	intercepts from the mo st recent drilling program.
	high grades and/or widths should be
	practiced to avoidm isleading reporting
	of Exploration Resu lts.
Other	• Other explorationd ata, if meaningful	•Earlier rock chip ands oil sampling results have
substantive	and material, should be reported	been incorporated into targeting the current
exploration	including (but not lim ited to): geological	drilling.
data	observations; geoph ysical survey	•From targeting shallow , easily mineable gold

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Criteria	JORC Code explanat ion	Commentary
	results; geochemica l survey results;	mineralisation the dep th of partial oxidation has
	bulk samples – size and method of	been observed downt o 40-50m vertical depth
	treatment; metallurg ical test results;	(see text)
	bulk density, ground water, geotechnical	•Water table is variable depending on topographic
	and rock characteri stics; potential	height but generally in the range of 20-30m
	deleterious or conta minating	downhole depth.
	substances.	•Earlier surface rock ch ip results averaging > 10g/t
		gold is now confirmed from the most recent and
		earlier 2004 drilling at the Golden Honcho
		prospect.
Further work	• The nature and sca le of planned further	•Mineralised intercepts now to be examined for
	work (eg tests for la teral extensions or	extra elements includin g Cu, Pb, Zn, Ag and As
	depth extensions or large-scale step-	(see text).
	out drilling).	•Desktop work to bring the Golden Honcho
	• Diagrams clearly hig hlighting the areas	prospect to JORC reso urce status (see text)
	of possible extensio ns, including the	•Figure 6 shows the are a of the current drilling
	main geological inte rpretations and	relative to the future pl anned for drilling Golden
	future drilling areas , provided this	Slips prospect and oth er not fully or untested by
	information is not co mmercially	drilling adjacent prospe ct areas.
	sensitive.

About Ark Mines

Ark Mines Ltd (ASX: AHK) is a publicly listed company with Gold Tenements in N o rthern Territory and New South Wales. Ark’s two E x ploration Licences (ELs) in New South Wales ( NSW) lie within the Lachlan Fold Belt. This area is t h e focus for significant Exploration in NSW and t h e epicentre of many major polymetallic and precious metal Mines.

FURTHER INFORMATION: Roge r Jackson, Managing Director, Ark Mines Limite d : +61400 408 550

The information in this announcemen t that relates to Exploration Results, Mineral Resources o r Ore Reserves has been compiled by Roger Jackson BSc , Grad D ip Fin Man, Dip Ed, AICD, who is a Member of The Austr a lasian Institute of Mining and Metallurgy and who has more th a n five years’ experience in the field of activity being rep o rted on. Mr Jackson is a director of the Company. Mr Jackson h as sufficient experience, which is relevant to the style of m ineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and O re Reserves’. Mr Jackson consents to the inclusion in the annou n cement of the matters based on his information in the for m and context in which it appears.

Note:

Runge Limited who purchased the assets of Resource Evaluations Pty Ltd have reviewed the documentation relating to the Mount Porter resource and have confi r med that this resource estimation conforms to the reporting guidelines of the JORC Code (2004).

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Note

In early 2004 , an updated resource est i mate was completed for Arafura by Reseval Pty Ltd. Publis h ed Identified Resources for the Mt. Porter 10400 Zone deposit, calculated in compliance with the requirements of the JOR C Code, now stand at:

	Cut -off 1.7g/t
Indicated Resources	300 ,000 t@3.1g/t Au
Inferred Resources	55, 000 t@2.6g/t Au
TOTAL RESOURCES	355 ,000 t@3.0g/t Au
	34, 000ozs

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