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BARYS RESOURCES LIMITED Capital/Financing Update 2014

Mar 13, 2014

64567_rns_2014-03-13_db192c63-f060-4e76-8a30-407f14e66bb4.pdf

Capital/Financing Update

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UP TO 17.20% COPPER IN DETAILED SAMPLING CONFIRMS CONTINUOUS HIGH GRADE COPPER ZONE AT EL ROBLE

ASX ANNOUNCEMENT

14 March 2014

Perth-based copper developer Mining Group Limited (ASX: MNE) is pleased to announce recent results from follow-up due diligence channel sampling at the Paraguay underground mine at its El Roble Copper Project in Chile.

Highlights

  • Follow-up close-spaced channel sampling at the Paraguay underground mine confirms and delineates high-grade copper zone.

Results include:

  • 2.10m @ 6.89% Cu, 0.57g/t Au, 2815ppm Co and 16.36% Fe including 1.50m @ 8.59% Cu, 0.69g/t Au, 3657ppm Co and 13.30% Fe and 0.5m @ 17.20% Cu, 0.88g/t Au, 3230ppm Co and 13.70% Fe.

  • 1.50m @ 6.92% Cu, 0.40g/t Au, 4103ppm Co and 14.93% Fe including 1.00m @ 9.74% Cu, 0.39g/t Au, 3120ppm Co and 12.90% Fe.

  • Close-spaced channel sampling results confirm grade continuity at Paraguay over 30m along strike and delineation of a high-grade copper zone.

Paraguay Close-Spaced Sampling Results

Mining Group has an exclusive option to acquire up to 90% of the El Roble Copper Project (“Project”), which is located in the iron oxide copper gold (IOCG) Coastal Cordillera Belt of Chile, approximately 30km from the Chilean port of Caldera. The Project covers approximately 6,000ha and is currently being actively mined on a small scale by the owner. Ore is treated at one of the two toll treatment plants located within 80km by road of the Project.

As part of the Company’s ongoing assessment of the Project, the Paraguay underground mine has been identified as a high-priority area following initial high-grade copper samples (refer ASX announcement 18 February 2014). The Paraguay mine is located approximately 1km south west of the Panga mine, for which the Company has signed a production agreement and is currently assessing the viability of commencing mining for copper.

The recent results demonstrate the formation of distinct high-grade copper zones along the strike of the mineralised vein at Paraguay, providing further confidence that potentially mineable zones of high-grade copper mineralisation form within the vein system.

The Paraguay vein is currently accessed via the installation of along-strike drives (underground tunnels) with typical dimensions of 2.20m in height by 2.20m in width. Samples are taken of in-situ rock across the exposed vein in the backs (roof) of the tunnels, in conjunction with geological mapping.

==> picture [595 x 16] intentionally omitted <==

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Commenting on the results from Paraguay, Mining Group Managing Director, Mr Zeff Reeves said: “This closespaced sampling has been very effective in delineating a strike-continuous, high-grade zone of copper mineralisation at Paraguay, displaying grades and widths well in line with what we can potentially mine at El Roble.

“The Paraguay vein has been exploited by the owner of the concession on a very small scale, on a single level. There appears to be significant potential to expand this underground area both along strike and deeper to expose more high-grade copper zones, especially considering current underground workings at Paraguay extend only 80m along the 30km of prospective veins already mapped.

“This sampling provides us with further confidence that the veins do thicken, in conjunction with some very healthy copper grades, which justifies our strategy of beginning mining at the Project on a small scale in the very near future,” Mr Reeves said.

Paraguay Sampling

As part of its ongoing assessment of numerous potential mine areas across the Project, the Company has undertaken systematic sampling, mapping and surveying of the numerous, small underground tunnels and historic workings across the property. As part of this work, the Paraguay mine has been identified as a high priority target that has been sampled using closed-spaced underground channels.

This work is being undertaken to gain geological knowledge of ore controls within the El Roble vein system and to systematically assess areas for the Company’s potential mining operation.

Results from the close-spaced sampling have delineated a high-grade zone of mineralisation over 40m long within the mine drive, demonstrating the pinch and swell nature of the mineralisation.

Channels were spaced at 2.5m intervals along the drive and installed approximately perpendicular to the strike of the vein. The close-spaced nature of the sampling has been very effective in delineating the highgrade mineralisation.

The Paraguay mine consists of a single, approximately 80m long, strike drive, following the mineralised vein, which is the south west extension of the Panga vein, approximately 1km to the north east.

Next Steps

Mining Group is negotiating access to mine at Paraguay with the current owner, who also owns the Panga concession where the Company has already signed a production agreement. The Company intends on signing a production agreement, following which it will submit the appropriate applications to gain an operating licence permitting it to extract up to 5,000 tonnes of copper-bearing rock per month and commence further underground assessment work.

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==> picture [440 x 303] intentionally omitted <==

Figure 1 – Overview satellite image of El Roble Project showing location of the Paraguay mine along strike from the Panga mine. Red lines are interpreted major mineralised structures, white lines secondary mineralised structures. Grid is 1km x 1km.

==> picture [451 x 292] intentionally omitted <==

Figure 2 – Plan view of the Paraguay mine showing recent high grade results in red. Results in blue announced to ASX on 18 February 2014.

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Hole_ID Depth_From Depth_to Interval Cu % Auppm Coppm Fe % Moppm Comments
RCPCH00351 3.70 4.20 0.50 2.52 2.32 1710 33.90 170
RCPCH00353 0.40 2.10 1.70 3.59 0.57 332 13.96 77
RCPCH00353 0.40 1.10 0.70 8.19 1.65 410 22.20 190 Incl
RCPCH00354 0.00 1.00 1.00 2.29 0.30 200 17.99 70
RCPCH00357 3.20 3.70 0.50 2.68 0.02 9390 5.39 50
RCPCH00360 0.40 2.20 1.80 2.85 0.53 3190 13.05 103
RCPCH00361 0.00 1.00 1.00 2.43 0.21 3920 6.08 50
RCPCH00362 0.50 2.00 1.50 6.92 0.40 4103 14.93 143
RCPCH00364 0.40 2.50 2.10 1.44 0.65 1296 18.90 105
RCPCH00365 0.80 2.20 1.40 4.02 0.65 4574 15.59 125
RCPCH00366 0.40 2.40 2.00 1.64 0.24 564 15.11 106
RCPCH00367 0.00 2.10 2.10 6.89 0.57 2815 16.36 102
RCPCH00367 0.00 0.50 0.50 17.20 0.88 3230 13.70 140 incl
RCPCH00368 0.40 1.40 1.00 3.97 0.55 1420 22.90 110
RCPCH00368 3.20 4.60 1.40 2.93 0.20 879 8.91 37
RCPCH00369 0.00 2.70 2.70 2.68 0.16 1913 5.86 39

Table 1 – Significant intercepts for recent sampling from Paraguay (full results and channel details listed in Appendix 1).

The Company intends to continue its ongoing assessment of numerous high priority targets across the Project in line with its strategy to identify high-grade copper mineralisation suitable to commence small-scale mining operations. Assessment of each area consists of initial sampling and surveying, followed by detailed sampling and geological modelling. If a target is then deemed prospective, it is intended that bulk sampling will be undertaken, which can be trucked to the nearby toll treatment plants for processing. This work is underway on numerous targets across the Project area.

For further information please contact:

Zeffron Reeves Managing Director [email protected] P: + 61 8 9322 4328

About Mining Group Limited

Mining Group Limited (ASX: MNE) is an Australian-based company that acquires and develops copper and gold projects around the world with a focus on Chile. The Company has an interest in the highly prospective, high grade El Roble Copper Project in Region III of Chile, targeting IOCG-style copper and gold mineralisation. The Company is focused on achieving growth and shareholder value through the development of near-term, small-scale mining operations at El Roble which will enable self-funded growth into the future. El Roble is ideally located 25km from the port of Caldera and within 80km of two copper toll treatment plants within the world class Atacama IOCG region, which has a history of high-grade copper production.

Mining Group also has an interest in the Comval Copper Project in the Philippines, and its Australian-based projects, Boorara and Teutonic Projects, are prospective for gold and basemetals.

Mining Group has a strong Board and management team with considerable technical, commercial and corporate experience in the resources sector.

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For more information visit the Mining Group website at www.mininggroup.net.au

The information in this report that relates to Exploration Results is based on information compiled by Mr Zeffron Reeves (B App Sc (Hons) (Applied Geology) MBA, MAIG), a member of the Australian Institute of Geoscientists and is an employee of the Company. Mr Reeves has sufficient experience that is relevant to the style of mineralization 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 the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Reeves consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

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Appendix 1 – Full results and channel location details from results presented within this announcement

a) – Collar location details

hole_id utm_northing utm_easting utm_rl max_depth Dip Azimuth grid
RCPCH00349 7009933.40 345483.50 1014.00 5.00 0 175 WGS84_19S
RCPCH00350 7009932.50 345480.80 1013.73 3.50 0 173 WGS84_19S
RCPCH00351 7009929.40 345477.40 1012.95 5.30 0 165 WGS84_19S
RCPCH00352 7009927.10 345475.75 1012.33 3.10 0 172 WGS84_19S
RCPCH00353 7009920.30 345466.10 1010.98 2.10 0 184 WGS84_19S
RCPCH00354 7009919.70 345463.30 1010.99 2.00 0 190 WGS84_19S
RCPCH00355 7009917.90 345459.00 1011.02 1.80 0 181 WGS84_19S
RCPCH00356 7009935.30 345489.20 1014.42 3.00 0 210 WGS84_19S
RCPCH00357 7009934.80 345491.70 1014.11 3.70 0 216 WGS84_19S
RCPCH00358 7009935.00 345496.90 1013.82 3.10 0 201 WGS84_19S
RCPCH00359 7009935.90 345499.40 1013.55 2.00 0 201 WGS84_19S
RCPCH00360 7009937.20 345504.10 1013.06 2.50 0 194 WGS84_19S
RCPCH00361 7009937.75 345506.60 1012.85 2.20 0 195 WGS84_19S
RCPCH00362 7009939.50 345511.25 1012.60 2.80 0 195 WGS84_19S
RCPCH00363 7009940.00 345514.00 1012.06 2.60 0 199 WGS84_19S
RCPCH00364 7009941.30 345519.25 1011.40 2.50 0 204 WGS84_19S
RCPCH00365 7009941.60 345521.15 1011.37 2.80 0 198 WGS84_19S
RCPCH00366 7009942.30 345525.70 1009.92 2.40 0 198 WGS84_19S
RCPCH00367 7009942.75 345528.20 1009.63 2.10 0 201 WGS84_19S
RCPCH00368 7009944.30 345532.90 1009.13 5.60 0 201 WGS84_19S
RCPCH00369 7009944.30 345535.90 1009.13 2.70 0 206 WGS84_19S

b) – Assay Results

Au
ppm
Co
ppm
Mo
ppm
Hole_ID Depth_From Depth_to Sample_ID Cu % Fe %
RCPCH00349 0.00 0.40 MGC03748 0.31 0.02 290 7.86 5
RCPCH00349 0.40 1.00 MGC03749 0.29 0.04 290 5.47 5
RCPCH00349 1.00 2.00 MGC03750 0.14 0.01 200 5.53 5
RCPCH00349 2.00 3.00 MGC03751 0.43 0.02 350 6.48 5
RCPCH00349 3.00 3.80 MGC03752 0.62 0.25 620 21.8 120
RCPCH00349 3.80 4.50 MGC03753 1.17 0.56 2110 19.5 150
RCPCH00349 4.50 5.00 MGC03754 0.31 0.03 340 4.38 10
RCPCH00350 0.00 1.00 MGC03755 0.23 0.01 90 6.28 5
RCPCH00350 1.00 2.00 MGC03756 0.27 0.01 100 6.22 5
RCPCH00350 2.00 3.00 MGC03757 0.64 0.02 230 7.42 5
RCPCH00350 3.00 3.50 MGC03758 1.29 0.04 870 9.9 5
RCPCH00351 0.00 1.00 MGC03759 0.34 0.01 90 5.19 5
RCPCH00351 1.00 2.00 MGC03760 0.35 0.02 180 5.51 5
RCPCH00351 1.00 2.00 MGC03761 1.02 0.63 780 19 190
RCPCH00351 2.00 3.00 MGC03762 0.92 0.04 340 7.39 5
RCPCH00351 3.00 3.70 MGC03763 0.93 0.04 500 9.71 20
RCPCH00351 3.70 4.20 MGC03764 2.52 2.32 1710 33.9 170
RCPCH00351 4.20 4.80 MGC03765 1.11 0.11 1060 12.8 110
RCPCH00351 4.80 5.30 MGC03766 1.00 0.22 810 16.6 100
RCPCH00352 0.00 1.00 MGC03767 0.55 0.06 290 5.6 5
RCPCH00352 1.00 1.60 MGC03768 2.10 0.07 830 13.9 70
RCPCH00352 1.60 2.60 MGC03769 1.69 0.30 1020 19.3 70
RCPCH00352 2.60 3.10 MGC03770 0.73 0.07 970 7.22 10
Hole_ID Depth_From Depth_to Sample_ID Cu % Au Co Fe % Mo

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ppm ppm ppm
RCPCH00353 0.00 0.40 MGC03775 1.12 0.01 100 4.07 20
RCPCH00353 0.40 1.10 MGC03776 8.19 1.65 410 22.2 190
RCPCH00353 1.10 2.10 MGC03777 1.35 0.04 370 12.2 20
RCPCH00354 0.00 0.50 MGC03778 1.43 0.00 160 3.98 10
RCPCH00354 0.50 1.00 MGC03779 3.14 0.60 240 32 130
RCPCH00354 1.00 2.00 MGC03780 1.03 0.03 430 6.97 10
RCPCH00354 1.00 2.00 MGC03781 0.00 0.00 5 0.43 5
RCPCH00355 0.00 0.50 MGC03786 0.26 0.01 110 5.44 5
RCPCH00355 0.50 1.00 MGC03787 0.51 0.28 40 14.8 90
RCPCH00355 1.00 1.30 MGC03788 0.27 0.07 30 12.7 60
RCPCH00355 1.30 1.80 MGC03789 0.27 0.12 20 6.82 100
RCPCH00356 0.00 1.00 MGC03790 0.42 0.02 570 5.32 5
RCPCH00356 1.00 2.00 MGC03791 0.52 0.03 390 5.94 5
RCPCH00356 2.00 2.40 MGC03792 0.58 0.08 680 8.11 20
RCPCH00356 2.40 3.00 MGC03793 1.00 1.88 1790 31 230
RCPCH00357 0.00 0.90 MGC03794 0.48 0.04 660 5.54 5
RCPCH00357 0.90 1.90 MGC03795 0.45 0.02 420 5.67 5
RCPCH00357 1.90 2.60 MGC03796 0.81 1.25 1310 29.9 330
RCPCH00357 2.60 3.20 MGC03797 0.60 0.25 760 10.3 70
RCPCH00357 3.20 3.70 MGC03798 2.68 0.02 9390 5.39 50
RCPCH00358 0.00 0.60 MGC03826 0.39 0.84 370 7.89 20
RCPCH00358 0.60 1.60 MGC03827 0.58 0.25 350 14.7 170
RCPCH00358 1.60 2.20 MGC03828 0.90 1.02 860 25.9 100
RCPCH00358 2.20 2.50 MGC03829 1.55 0.36 1650 8.25 50
RCPCH00358 2.50 3.10 MGC03830 1.64 0.20 3410 2.15 20
RCPCH00359 0.00 1.00 MGC03831 1.16 0.41 1620 25.1 100
RCPCH00359 1.00 1.50 MGC03832 0.69 1.97 1210 8.69 40
RCPCH00359 1.50 2.00 MGC03833 3.83 0.22 4720 2.69 20
RCPCH00360 0.00 0.40 MGC03838 1.12 0.10 5160 3.23 20
RCPCH00360 0.00 0.40 MGC03839 1.47 0.82 970 26.9 310
RCPCH00360 0.40 1.10 MGC03840 2.13 0.14 2720 3.69 30
RCPCH00360 1.10 1.60 MGC03841 3.80 1.05 3020 14.7 80
RCPCH00360 1.60 2.20 MGC03842 3.81 0.38 5360 13.4 70
RCPCH00360 2.20 2.50 MGC03843 0.11 0.02 40 2.91 10
RCPCH00361 0.00 1.00 MGC03844 2.43 0.21 3920 6.08 50
RCPCH00361 1.00 1.60 MGC03845 0.44 0.25 1080 14 50
RCPCH00361 1.60 2.20 MGC03846 0.32 0.08 130 5.63 10
RCPCH00362 0.00 0.50 MGC03847 0.82 0.05 1520 7.9 30
RCPCH00362 0.50 1.50 MGC03848 9.74 0.39 3120 12.9 130
RCPCH00362 1.50 2.00 MGC03849 1.29 0.42 6070 19 170
RCPCH00362 2.00 2.80 MGC03850 0.38 0.25 970 6.7 20
RCPCH00363 0.00 1.00 MGC03851 0.51 0.07 430 10.9 40
RCPCH00363 1.00 2.00 MGC03852 0.86 0.19 910 35.1 310
RCPCH00363 2.00 2.60 MGC03853 0.43 0.18 460 12.6 110
RCPCH00364 0.00 0.40 MGC03858 0.23 0.03 140 5.9 5
RCPCH00364 0.00 0.40 MGC03859 0.00 0.00 10 0.44 5
RCPCH00364 0.40 0.90 MGC03860 2.13 0.21 430 13.9 150
RCPCH00364 0.90 1.90 MGC03861 1.05 0.54 460 24.8 110
RCPCH00364 1.90 2.50 MGC03862 1.50 1.19 3410 13.3 60
RCPCH00365 0.00 0.80 MGC03863 1.03 0.12 1530 8.18 10
RCPCH00365 0.80 1.70 MGC03864 5.21 0.29 1570 15.7 150
RCPCH00365 1.70 2.20 MGC03865 1.89 1.29 9980 15.4 80
RCPCH00365 2.20 2.80 MGC03866 0.65 0.06 380 10.2 60
RCPCH00366 0.00 0.40 MGC03867 0.89 0.12 290 15.5 220
RCPCH00366 0.40 1.00 MGC03868 2.12 0.56 1130 14 140
RCPCH00366 1.00 1.80 MGC03869 0.42 0.10 360 15.8 100
RCPCH00366 1.80 2.40 MGC03870 2.79 0.11 270 15.3 80
RCPCH00367 0.00 0.50 MGC03871 17.20 0.88 3230 13.7 140
RCPCH00367 0.50 1.50 MGC03872 4.29 0.59 3870 13.1 90
Hole_ID Depth_From Depth_to Sample_ID Cu % Au Co Fe % Mo

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ppm ppm ppm
RCPCH00368 0.00 0.40 MGC03878 0.95 0.37 910 22.9 110
RCPCH00368 0.00 0.40 MGC03879 1.00 0.58 750 18.8 180
RCPCH00368 0.40 1.40 MGC03880 3.97 0.55 1420 22.9 110
RCPCH00368 1.40 2.40 MGC03881 0.32 0.00 90 7.14 30
RCPCH00368 2.40 3.20 MGC03882 0.10 0.02 60 3.36 20
RCPCH00368 3.20 4.00 MGC03883 1.50 0.10 270 4.12 20
RCPCH00368 4.00 4.60 MGC03884 4.84 0.34 1690 15.3 60
RCPCH00368 4.60 5.60 MGC03885 0.85 0.06 280 4.85 10
RCPCH00369 0.00 0.50 MGC03886 2.01 0.08 200 2.97 20
RCPCH00369 0.50 1.50 MGC03887 1.59 0.07 250 4.18 30
RCPCH00369 1.50 2.30 MGC03888 4.38 0.38 5050 10.8 70
RCPCH00369 2.30 2.70 MGC03889 2.81 0.03 1940 3.81 20

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APPENDIX 2: JORC Table 1, Section 1 Sampling Techniques and Data

APPENDIX 2: JORC Table 1, Section 1 Sampling Techniques and Data
Criteria Explanation
Sampling
techniques

Drill core samples are half core samples cut longitudinally down core axis

Minimum sample interval was 0.25m and maximum of 1.00m are collected from core,
sampled to geological boundaries.

Rock chip samples collected are of a minimum 2kg weight.

Minimum sample interval was 0.50m and maximum of 2.00m were collected along
installed channels.

Samples sent to ALS Laboratories, Copiapo, Chile

Samples were pulverised to obtain a 30g charge for fire assay for gold

A 0.5g charge was digested by four acid near total digest and analyses using ICP-OES for
multi-element analysis, including copper

Ore grade copper samples over 10,000ppm (10%) are re-assayed using AAS

High grade gold samples over 10 g/t are re-assayed using a fire assay fusion and gravimetric
finish.
.
Drilling techniques
NA - No drill results are presented in this announcement
Drill sample
recovery

NA - No drill results are presented in this announcement
Logging
All drill holes and rock samples are geologically logged by qualified geologists.

Geological data is recorded in the Company’s geological database.

Logging is qualitative in nature and describes lithology, alteration, structure and
mineralisation visually observed by the logging geologist.

Total length of each sample interval has been logged.
Sub-sampling
techniques and
sample preparation

The sample collection and preparation technique is deemed suitable and industry standard
for drill core and rock sampling.

Samples are coarse crushed to 70% passing 2mm and then split produce a 30g sample for
gold assay and 0.5g sample for multi-element assay. Sub samples are then pulverised to
85% passing 75 microns prior to assay.

No duplicate samples have been carried out.

Sample size is deemed appropriate.

Samples may be subject to nonuniform grade distribution and nugget effect in relation to
coppergrade due togeological and mineralogical characteristics.
Quality of assay
data and laboratory
tests

Assay techniques are deemed suitable and accurate for the elements being tested.

Standard reference materials have been submitted in each sample run every 20 samples.

Blank reference materials are submitted in each sample run every 50 samples.
Verification of
sampling and
assaying

All significant intersections have been calculated using weighted averaging to sample
length.

All significant intersections have been checked by alternative company geological
personnel.

No duplicate sampling or twinned holes have been completed

All data collected is done so in accordance with the Company’s written data collection
procedures and is kept within the Company’s electronic database. Original sample logs and
written data collection forms are also retained in the Company’s data library.

No adjustment to data has been done.
Locations of data
points

All drill holes and channels have been surveyed using a measurement from known survey
points in underground areas with appropriate control points used and referenced to
ensure accuracy of survey information.

Co-ordinates have an error of +/-10cm..

Co-ordinates are recorded in WGS84 co-ordinate system
Data spacing and
distribution

The current drill and channel spacing is deemed appropriate for the current early stage of
exploration
Orientation of data
in relation to
geological structure

Wherever possible drill holes and channels have been planned to intersect mineralised
structures perpendicular to the structure.

Drill Hole intercepts are downhole widths and do not indicate true widths of any
mineralised structure.
Sample security
All sampling was conducted under the supervision of the companies project manager who
supervised sample collection and the chain of custodyfrom the drill to the sample

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preparation and logging facility is continually monitored by the project manager. Samples
are shipped to the lab by qualified couriers or Company personnel under locked bags.
Audits or reviews
No audit or review has been conducted due to the early stage exploration nature of the
work.

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JORC Table 7: Section 2 Reporting of Exploration Results

Criteria Explanation
Mineral tenement
and land tenure
status

Mining Group does not own any of the properties sampled or mapped and sampling and
mapping completed was done so as part of a due diligence process in order to assess the
properties.

Mining Group has an exclusive option agreement to acquire the properties (refer ASX
Announcement 15 August 2013)

Mining Group is not the current operator of the Paraguay Mine.

Mining Group has a production agreement over the Panga Mine, granting exclusive access
to carryout furthergeological and miningstudies and to extract copper andgold ore.
Exploration by
other parties

No information has been used in this report from exploration by other parties.
Drill hole
information

Details of channel, drill holes, depth and intercept depths are contained within this
announcement (Appendix 1).
Geology
The El Roble Project and Paraguay mine area consists of quartz and iron oxide veins,
containing copper and gold mineralisation. The veins are hosted within intrusive dioritic
and andesitic volcanic rocks of the Chilean Cretaceous Belt.
Data aggregation
methods

Intercept widths are along channel widths, intercept calculated by length weighted average
for all samples and no internal dilution was used, where length is the along channel length
for each sample interval

Intercepts comprise of aggregated length weighted average for all samples taken in each
channel. Length weighted averages have been calculated using the following formula
assuming 3 samples were taken from the channel, where: A=sample interval, B=sample
assay value
1)
A1xB1 = C1, A2xB2=C2, A3xb3=C3
2)
A1+A2+B2= total interval
3)
(C1+C2+C3)/total interval = length weighted grade average

No metal equivalent values have been used.
Relationship
between
mineralization
widths and
intercept lengths

Channels were designed to be installed perpendicular to the interpreted strike of the
mineralized structures unless stated.

Intercept widths are along downhole widths and are not true geological widths.
Diagrams
Pertinent maps, plans and sections are within this announcement
Balanced Reporting
Full results of all samples taken are presented in Appendix 1 of this announcement.
Other substantive
exploration data

No other data other than that presented has been used or relied upon.
Further work
Further exploration work including mapping, sampling and drilling is required, on areas
throughout the property.

These areas will be identified in the future through further analysis and interpretation of
results.

Diagrams cannot be provided until areas for future exploration have been identified, other
than what is presented within this notice.

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