ELEMENT 25 LIMITED — Interim / Quarterly Report 2015

Jan 20, 2016

==> picture [190 x 113] intentionally omitted <==

Montezuma
Mining
Company
Ltd
(“Montezuma”)
is
pleased
to
advise that
activities
during
the
quarter
have
continued
to
generate
highly encouraging
results
from
the
Company’s
flagship
Yamarna
Gold
Project in
WA.

Highlights:

• ➤ Aircore
  geochemical
  drilling
  results
  confirmed
  strong widespread regional
  anomalism within
  multiple
  kilometre
  scale
  mineralised corridors
  in
  Archean
  basement
  rocks.

• ➤ Maiden
  reconnaissance
  RC
  drilling
  programme
  completed comprising
  37
  holes
  into
  the
  Jatz
  and
  Captain’s
  Prospects.

• ➤ Results
  from
  the
  first
  16
  holes
  have
  been
  received
  with assays
  up to
  19.1
  g/t
  Au .
  Best
  results
  include: YARC001:
  10m
  @
  0.9
  g/t
  from
  46
  metres
  and:

• 7m
  @
  5.4
  g/t
  Au from
  64
  metres
  including: 2m
  @
  17.5
  g/t
  Au from
  65
  metres

**QUARTERLY

OPERATIONS
REPORT 31
DECEMBER
2015**

**ABOUT

MONTEZUMA
MINING**

Listed
in
2006,
Montezuma
Mining
Company Ltd
(ASX:
MZM)
is
a
diversified
explorer primarily
focused
on
manganese,
copper
and gold.
The
Company’s
primary
objective
is
to achieve
returns
for
shareholders
through selected
strategic
acquisitions
and
targeted exploration.

Montezuma
Mining
has
100%
interests
in
the Yamarna
Gold
Project
in
the
Yamarna Geenstone
Belt,
Western
Australia
and
the Butcherbird
Manganese/Copper
Project
in
the Murchison
region
of
Western
Australia

**MARKET

DATA**

ASX
code: MZM Share
Price: $0.23 Shares
on
issue: 70,464,350 Market
capitalisation: $16.2M

**BOARD

AND
MANAGEMENT**

Chairman Seamus
Cornelius Executive
Director Justin
Brown Non-­‐Executive
Director John
Ribbons

YARC002:
4m
@
1.9
g/t
Au
from
119
metres
including:

• 2m
  @
  3.3
  g/t
  Au from
  120
  metres

YARC016:
4m@
1.2
g/t
Au
from
80m

• ➤ Results
  confirm
  ore-­‐grade
  mineralisation
  over
  400m
  of
  strike within
  a
  prospective
  5km
  long
  corridor
  at
  the
  Jatz
  Prospect.

• ➤ Results
  to
  date
  confirm
  the
  Jatz
  structural
  corridor
  as
  a
  high priority
  target
  zone
  for
  immediate
  follow
  up
  work.

• ➤ Results
  for
  the
  remaining
  21
  holes
  pending.

• ➤ Airborne
  survey
  completed
  to
  collect
  magnetic,
  radiometric
  and DTM
  datasets.
  Multiple
  additional
  targets
  defined.

Quartz
veining
and
sulphide
mineralisation
at
Jatz

Company
information,
ASX
announcements, investor
presentations,
corporate
videos
and other
investor
material
on
the
Company’s projects
can
be
viewed
at http://www.montezuma.com.au

Ground
Floor,
31
Ventnor
Street,
WEST
PERTH
WA
6005
|
Phone
+61
8
6315
1400

**YAMARNA

PROJECT:
(MZM
100%)**

**Geochemcial

Aircore
Drilling**

During
the
September
quarter
a
total
of
202
aircore
holes
were
completed
for
7,525
metres.
The
programme was
designed
to
test
for
basement
(Archaean)
hosted
primary
gold
mineralisation
beneath
multiple
regional scale
historic
gold
in
soil
anomalies[1] .

Samples
were
collected
in
four
metre
composites
downhole
except
at
notable
geological
boundaries,
where sampling
was
constrained
to
the
different
units
with
particular
attention
given
to
separating
transported
cover, interface
zones,
palaeo-­‐surfaces
and
underlying
basement.
A
total
of
2,280
samples
were
submitted
for
assay by
Aqua
Regia
with
an
ICP-­‐MS
finish
for
gold
and
selected
pathfinder
elements
including
Au,
Ag,
As,
Cu,
Pb,
Zn, Ni,
Sb,
Bi,
W,
Te
and
Mo.

The
Archean
geology
intersected
in
the
drilling
was
varied
and
indicated
lithological
and
structural
complexity, including
multiple
types
of
granite
and
mafic
and
meta-­‐sedimentary
rocks
with
quartz
veining
present
in
a number
of
the
targeted
areas.
The
overlying
cover
is
variable
in
thickness,
from
approximately
12
metres
in western
areas
to
over
40m
to
the
east.
The
cover
comprises
a
combination
of
recent
Aeolian
dune
material
and various
phases
of
alluvials
and
possible
lacustrine
members
currently
interpreted
as
Permian
in
age.

Samples
returned
indicate
that
the
profile
has
four
horizons
that
show
significant
gold
anomalism,
with
the surface
anomaly
present
in
the
soils
data
reflected
in
the
upper
parts
of
the
drilling,
an
interpreted
paleo-­‐surface within
the
cover
sequences,
a
strong
interface
anomaly
at
the
Archean/Permian
contact
and
primary
basement hosted
mineralisation
in
three
holes.
The
basement
mineralisation
intersected
also
showed
a
moderate
to strong
copper,
bismuth,
moybdenum
and
tellurium
association,
a
common
assemblage
in
meso-­‐thermal
gold deposits
in
the
Yilgarn
Province.

Subsequent
to
the
completion
of
this
successful
maiden
programme,
the
company
commenced
the
first
ever
RC drilling
programme
to
test
a
selection
of
these
anomalous
areas.

Hole ID	Easting (MGA 94 Z51)	Northing (MGA 94 Z51)	Nominal RL (m)	Dip ( 0)	Azimuth (magnetic 0)	Total Depth (m)	Depth From (m)	Depth To (m)	Intercept Width (m)	Au (ppb)	Interpreted Horizon
YAAC001	596504	6888804	400	-60	090	31	4	11	7	87	Recent Cover
YAAC002	596521	6888803	400	-90	000	36	14	18	4	173	Palaeo - Surface
YAAC007	597000	6888800	400	-90	000	46	16	20	4	91	Palaeo - Surface
YAAC015	596449	6888802	410	-90	000	36	0	8	8	55	Recent Cover
	and						8	12	4	57	Palaeo - Surface
	and						28	32	4	52	Archaean/Permian
YAAC016	596401	6888790	410	-90	000	39	4	8	4	68	Recent Cover
	and						16	20	4	2281	Palaeo - Surface
	and						20	24	4	246	Palaeo - Surface
YAAC017	596351	6888795	410	-90	000	36	12	16	4	140	Palaeo - Surface

1Website
reference
http://www.montezuma.com.au/images/uploads/150729_Results_Confirm_Yamarna_Gold_Targets.pdf

Ground
Floor,
31
Ventnor
Street,
WEST
PERTH
WA
6005
|
Phone
+61
8
6315
1400

2

Hole ID	Easting (MGA 94 Z51)	Northing (MGA 94 Z51)	Nominal RL (m)	Dip ( 0)	Azimuth (magnetic 0)	Total Depth (m)	Depth From (m)	Depth To (m)	Intercept Width (m)	Au (ppb)	Interpreted Horizon
YAAC018	596303	6888798	410	-90	000	39	12	16	4	703	Palaeo - Surface
	and						20	24	4	168	Palaeo - Surface
	and						24	28	4	338	Archaean/Permian
YAAC020	596199	6888785	410	-90	000	35	16	20	4	53	Palaeo - Surface
YAAC027	594100	6889153	415	-90	000	14	8	12	4	65	Palaeo - Surface
	and						12	13	1	89	Archaean/Permian
YAAC027	and						13	14	1	2708*	Archaean Basement
YAAC037	594096	6888924	415	-90	000	45	44	45	1	136	Archaean Basement
YAAC043	594305	6888754	415	-90	000	33	28	32	4	170	Archaean Basement
YAAC046	594302	6889002	415	-90	000	30	28	29	1	83	Archaean Basement
YAAC051	594298	6889202	415	-90	000	18	0	4	4	66	Recent Cover
YAAC053	594295	6889250	415	-90	000	13	0	4	4	59	Recent Cover
YAAC062	593804	6889252	415	-90	000	28	21	22	1	66	Archaean/Permian
							24	28	4	74	Archaean Basement
YAAC068	593398	6889475	415	-90	000	19	18	19	1	71	Archaean Basement
YAAC072	593149	6889817	415	-90	000	48	24	28	4	68	Archaean Basement
							44	48	4	189	Archaean Basement
YAAC074	592948	6889804	415	-90	000	51	24	28	4	183	Archaean Basement
YAAC079	593702	6890195	415	-90	000	61	12	20	8	57	Archaean/Permian
YAAC082	593596	6890200	415	-90	000	46	12	22	10	78	Archaean Basement
							34	38	4	80	Archaean Basement
YAAC083	593550	6890201	388	-90	000	46	16	24	8	87	Archaean Basement
YAAC084	593447	6890204	415	-90	000	55	40	55	15	396	Archaean Basement
YAAC084	Including						54	55	1	1472	Archaean Basement
YAAC085	593397	6890201	415	-90	000	54	40	50	10	67	Archaean Basement
YAAC087	593251	6890192	415	-90	000	30	15	16	1	55	Archaean/Permian
YAAC092	593504	6890607	415	-90	000	67	62	67	5	277	Archaean Basement
YAAC093	593398	6890569	415	-90	000	61	8	18	12	274	Recent Cover
							20	24	4	117	Archaean Basement
							40	50	10	56	Archaean Basement
YAAC094	593346	6890553	415	-90	000	62	40	60	20	74	Archaean Basement
YAAC095	593251	6890530	415	-90	000	68	46	50	4	573	Archaean Basement
							62	67	5	61	Archaean Basement
YAAC097	594498	6889325	415	-90	000	21	4	8	4	60	Recent Cover
YAAC106	594805	6889599	415	-90	000	18	0	4	4	66	Recent Cover
YAAC116	595598	6889596	410	-90	000	22	8	12	4	89	Palaeo - Surface
YAAC117	595702	6889601	410	-90	000	21	8	12	4	92	Palaeo - Surface
YAAC118	595799	6889598	410	-90	000	26	8	12	4	66	Palaeo - Surface
YAAC121	596110	6889601	410	-90	000	26	25	26	1	318	Archaean Basement
YAAC122	596201	6889593	410	-90	000	26	20	24	4	115	Palaeo - Surface
YAAC124	596402	6889604	410	-90	000	38	37	38	1	212	Archaean Basement
YAAC132	596952	6889608	410	-90	000	45	44	45	1	55	Archaean Basement
YAAC133	597052	6889605	410	-90	000	39	8	12	4	81	Palaeo - Surface
YAAC137	596302	6889205	410	-90	000	36	35	36	1	50	Archaean Basement
YAAC138	596401	6889206	410	-90	000	28	0	4	4	84	Recent Cover
YAAC156	596300	6887995	410	-90	000	47	40	44	4	59	Archaean/Permian
YAAC163	596897	6888004	410	-90	000	46	44	45	1	1357	Archaean/Permian
YAAC171	597557	6887997	410	-90	000	58	20	24	4	67	Palaeo - Surface
YAAC174	597501	6887400	410	-90	000	58	28	36	8	82	Palaeo - Surface

Ground
Floor,
31
Ventnor
Street,
WEST
PERTH
WA
6005
|
Phone
+61
8
6315
1400

3

Hole ID	Easting (MGA 94 Z51)	Northing (MGA 94 Z51)	Nominal RL (m)	Dip ( 0)	Azimuth (magnetic 0)	Total Depth (m)	Depth From (m)	Depth To (m)	Intercept Width (m)	Au (ppb)	Interpreted Horizon
YAAC176	597702	6887401	410	-90	000	68	28	32	4	189	Palaeo - Surface
YAAC179	597998	6887401	410	-90	000	66	28	36	8	370	Palaeo - Surface
YAAC182	598300	6887401	410	-90	000	67	12	16	4	103	Palaeo - Surface
YAAC186	595197	6887009	410	-90	000	47	24	28	4	84	Archaean
							46	47	1	60	Archaean
YAAC188	595399	6886999	410	-90	000	48	32	41	9	245	Archaean/Permian
YAAC191	595698	6887000	410	-90	000	57	44	48	4	375	Archaean/Permian
YAAC192	595299	6885598	410	-90	000	53	36	42	6	123	Archaean/Permian
YAAC193	595403	6885608	410	-90	000	52	36	40	4	53	Palaeo - Surface
YAAC194	595352	6885601	410	-90	000	54	36	40	4	188	Palaeo - Surface
YAAC195	595450	6885605	410	-90	000	55	36	40	4	313	Palaeo - Surface
YAAC196	595489	6885605	410	-90	000	52	36	44	8	395	Palaeo - Surface
YAAC197	595600	6885597	410	-90	000	51	50	51	1	248	Palaeo - Surface

**Table
1:
Significant
gold
assays

50ppb
from
recently
completed
aircore
drilling
at
the
Yamarna
Project.
All
intersections
are quoted
as
downhole
widths.
(Note
-­‐
*
indicates
this
is
a
Fire
Assay
Repeat
following
an
over
range
result
initially.**

==> picture [443 x 383] intentionally omitted <==

Figure
1
:
Regional
collar
location
plan
showing
widespread
gold
anomalism
in
three
major
corridors

Ground
Floor,
31
Ventnor
Street,
WEST
PERTH
WA
6005
|
Phone
+61
8
6315
1400

4

**Reconnaissance

RC
Drilling**

To
follow
up
on
the
encouraging
assay
results
from
the
maiden
aircore
drilling
programme,
37
RC
drillholes
were completed
for
a
toal
of
4,520m
across
traverses
at
the
Jatz
and
Captain’s
Prospects
to
test
for
primary
basement hosted
mineralisation.

During
the
quarter,
assay
results
for
the
first
16
RC
drillholes
were
received,
which
returned
multiple
ore
grade intercepts
including
high
grades
up
to
19.1
g/t
Au.
The
remaining
21
holes
of
the
37
hole
programme
remain
pending. The
results
received
to
date
are
from
two
reconnaissance
drill
traverses
across
a
regional
scale
soil
and
aircore geochemical
anomaly
at
the
Jatz
Prospect
and
have
confirmed
ore
grade
gold
mineralsation
over
at
least
400m
of strike
within
this
prospective
zone.
The
two
traverses
represent
the
first
ever
RC
drilling
completed
within
the
Jatz gold
corridor
which
extends
over
an
interpreted
strike
length
of
up
to
5
km.

The
gold
occurs
in
zones
of
altered
greenstones
with
variable
silica,
carbonate,
pyrite,
sericite
alteration
with
quartz veining.
The
mineralisation
has
all
the
hallmarks
of
a
mesothermal
shear
hosted
gold
system
with
potential
for significant
scale.

==> picture [536 x 403] intentionally omitted <==

Figure
2:
Collar
locations
over
aeromagnetics.
Assays
from
RC
drilling
are
for
the
first
16
holes
of
a
37
hole
programme.

Ground
Floor,
31
Ventnor
Street,
WEST
PERTH
WA
6005
|
Phone
+61
8
6315
1400

5

Hole ID	Easting (MGA 94 Z51)	Northing (MGA 94 Z51)	Nominal RL (m)	Dip (0)	Az. (mag 0)	Total Depth (m)	Depth From (m)	Depth To (m)	Intercept Width (m)	Au (g/t)
Previously reported aircore results at the Jatz			Prospect
YAAC027	594100	6889153	411	-90	000	14	13	14	1	2.7
YAAC084	593447	6890204	398	-90	000	55	40	55	15	0.4
New RC assay results
YARC001	593496	6890206	398	-60	270	138	46	56	10	0.9*
						Including	52	54	2	3.5*
							64	71	7	5.4*
						Including	65	67	2	17.5*
YARC002	593532	6890201	398	-60	270	132	119	123	4	1.9*
						Including	120	122	2	3.2*
YARC003	593404	6890204	397	-60	090	120	46	47	1	0.2
							51	52	1	0.1
							79	81	2	0.2
YARC004	593457	6890205	398	-60	270	90	42	47	5	0.2
YARC005	593421	6890213	397	-60	270	96	45	47	2	0.3
YARC006	593387	6890207	397	-60	270	132	70	71	1	0.2
							95	96	1	0.3
							122	123	1	0.2
YARC007	594107	594107	411	-60	180	72	No Significant Assays
YARC008	594110	594110	411	-60	180	78	No Significant Assays
YARC009	594107	594107	411	-60	000	60	No Significant Assays
YARC010	594110	594110	412	-60	000	78	No Significant Assays
YARC011	593265	6890530	396	-60	250	150	59	65	6	0.1
							74	75	1	0.1
							103	104	1	0.3
							136	138	2	0.2
YARC012	593306	6890539	396	-60	250	120	77	79	2	0.1
YARC013	593344	6890553	395	-60	250	126	73	74	1	0.1
							107	111	4	0.3
						Including	110	111	1	1.1
YARC014	593376	6890567	395	-60	250	120	58	66	8	0.4
						Including	58	60	2	1.1
							71	72	1	0.1
YARC015	593414	6890581	395	-60	250	120	45	46	1	0.1
YARC016	593456	6890590	395	-60	250	192	80	84	4	1.2
						Including	81	83	2	1.8
							110	112	2	0.1
							126	133	7	0.3
							156	165	9	0.3
YARC017	593495	6890604	396	-60	250	215	Assays Pending
YARC018	593530	6890617	397	-60	250	120	Assays Pending
YARC019	593557	6890657	398	-60	250	168	Assays Pending
YARC020	593605	6890639	397	-60	270	210	Assays Pending
YARC021	593588	6890200	399	-60	270	201	Assays Pending
YARC022	593203	6889794	399	-60	270	120	Assays Pending
YARC023	593137	6889820	398	-60	270	126	Assays Pending
YARC024	594113	6889163	412	-60	270	60	Assays Pending
YARC025	594109	6888976	414	-60	180	138	Assays Pending
YARC026	594106	6888937	416	-60	180	78	Assays Pending

Ground
Floor,
31
Ventnor
Street,
WEST
PERTH
WA
6005
|
Phone
+61
8
6315
1400

6

Hole ID	Easting (MGA 94 Z51)	Northing (MGA 94 Z51)	Nominal RL (m)	Dip (0)	Az. (mag 0)	Total Depth (m)	Depth From (m)	Depth To (m)	Intercept Width (m)	Au (g/t)
YARC027	594094	6888935	416	-60	000	54	Assays Pending
YARC028	594308	6888771	421	-60	270	120	Assays Pending
YARC029	594311	6888743	419	-60	270	126	Assays Pending
YARC030	596094	6889606	411	-60	270	120	Assays Pending
YARC031	596164	6889599	410	-60	270	120	Assays Pending
YARC032	596408	6889602	408	-60	270	120	Assays Pending
YARC033	596452	6889603	408	-60	270	120	Assays Pending
YARC034	596291	6888801	420	-60	270	120	Assays Pending
YARC035	596351.4	6888800	420	-60	270	120	Assays Pending
YARC036	596898	6888011	425	-60	270	120	Assays Pending
YARC037	596948	6888010	425	-60	270	120	Assays Pending

**Table
2:
Significant
gold
assays

0.1
g/t
(max.
2m
internal
dilution)
from
recently
completed
RC
drilling
at
the
Yamarna
Project. All
intersections
are
quoted
as
downhole
widths.
Assays
have
now
been
received
for
the
first
16
holes
of
a
37
hole
programme. Assays
completed
by
Aqua
Regia
digest
except
where
*
denotes
fire
assays.**

**Airborne

Geophysical
Survey**

To
assist
with
ongoing
targeting
efforts
at
the
Yamanra
Project
a
fixed
wing
airborne
survey
was
conducted
over the
entire
area
of
tenement
E38/2889
to
collect
magnetic,
radiometric
and
DTM
datasets.
The
survey
was
flown on
east-­‐west
lines
with
a
nominal
flight
height
of
30m
and
a
nominal
line
spacing
of
50m.

==> picture [514 x 386] intentionally omitted <==

Figure
3:
Multiple
new
targets
identified
by
recently
flown
close-­‐spaced
aeromagnetics.
Targets
shown
over
1vD
RTP
data.

Ground
Floor,
31
Ventnor
Street,
WEST
PERTH
WA
6005
|
Phone
+61
8
6315
1400

7

Preliminary
interpretation
of
the
data
has
identified
a
number
of
new
structural
targets
associated
with
the margins
of
a
large
internal
granite
intrusive.
The
targets
have
been
designated
as
the
Salada,
Sao
and
Ritz Prospects
and
will
be
the
focus
of
follow
up
work
in
the
coming
quarters,
along
with
the
ongoing
work
at
Jatz, Captains
and
Cruskit.

**Project

Background**

The
Yamarna
Belt
is
historically
underexplored
and
highly
prospective
for
gold
mineralisation.
It
has
a
current reported
Mineral
Resource
by
Gold
Road
Resources
Limited
(GOR)
of
5.1
million
ounces
of
gold[2] and
hosts
a
number of
new
discoveries.

The
only
previous
exploration
recorded
on
Montezuma’s
tenure
has
been
by
WMC
in
1997
comprising
377
soil geochemical
samples
collected
on
a
1,600m
x
200m
grid
and
in
filled
to
400m
x
200m
around
areas
of
gold anomalism[3] .

A
total
of
36
samples
recorded
Au
greater
than
5ppb
(anomalously
high)
with
a
peak
result
of
22ppb.
The
anomalies are
associated
with
and
in
a
similar
orientation
to
interpreted
granite-­‐greenstone
contact
positions
on
the
eastern side
of
the
same
suite
of
rocks
that
host
GOR’s
Gruyere
gold
deposit.

Based
on
the
regional
geology
and
the
coherent
and
extensive
geochemical
anomalism,
Montezuma
regards E38/2889
as
having
potential
to
host
significant
basement
gold
mineralisation.

**BONNEVAL

GOLD
PROJECT
FRANCE (UNDER
APPLICATION)**

The
Bonneval
application
continues
to
progress
through
the
application
approval
process
and
the
market
will
be advised
when
any
material
developments
transpire.

**FOR

MORE
INFORMATION…**

**Justin

Brown**

Executive
Director Phone:
+61
8
6315
1400 Email:
jbrown@montezuma.com.au

Company
information,
ASX
announcements,
investor
presentations,
corporate
videos
and
other
investor
material on
the
Company’s
projects
can
be
viewed
at
http://www.montezuma.com.au.

2
Website
reference
http://www.goldroad.com.au/reports/GruyereMaidenResourceAugust2014.pdf

3
http://geodocs.dmp.wa.gov.au/common/searchAPI.do?cabinetId=2301&Report_Ref=A54286

Ground
Floor,
31
Ventnor
Street,
WEST
PERTH
WA
6005
|
Phone
+61
8
6315
1400

8

The
information
in
this
report
that
relates
to
Exploration
Results,
Mineral
Resources
and
Mineral
Reserves
is
based
on
information
compiled by
Mr
Bradley
Drabsch
who
is
a
member
of
the
Australasian
Institute
of
Mining
and
Metallurgy.
At
the
time
that
the
Exploration
Results, Mineral
Resources
and
Mineral
Reserves
were
compiled,
Mr
Drabsch
was
an
employee
of
Montezuma
Mining
Company
Ltd.
Mr
Drabsch
is
a geologist
and
has
sufficient
experience
which
is
relevant
to
the
style
of
mineralisation
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
Drabsch
or
anentity
related
to
or
controlled
by
Mr
Drabsch
holds
options
over
fully
paid
shares
in
the
Company
at
thte
time
of
this
report. Mr
Drabsch
consents
to
the
inclusion
of
this
information
in
the
form
and
context
in
which
it
appears
in
this
report.

In
accordance
with
Listing
Rule
5.23.2,
the
Company
confirms
in
the
subsequent
public
report
that
it
is
not
aware
of
any
new
information
or data
that
materially
affects
the
information
included
in
the
relevant
market
announcement
and,
in
the
case
of
estimates
of
mineral
resources or
ore
reserves,
that
all
material
assumptions
and
technical
parameters
underpinning
the
estimates
in
the
relevant
market
announcement continue
to
apply
and
have
not
materially
changed.

Please
note
with
regard
to
exploration
targets,
the
potential
quantity
and
grade
is
conceptual
in
nature,
that
there
has
been
insufficient exploration
to
define
a
Mineral
Resource
and
that
it
is
uncertain
if
further
exploration
will
result
in
the
determination
of
a
Mineral
Resource.

Ground
Floor,
31
Ventnor
Street,
WEST
PERTH
WA
6005
|
Phone
+61
8
6315
1400

9

Montezuma Mining Company Limited

ASX Additional Information for Quarterly Report to 31 December 2015

	Tenement reference	Location	Interest at beginning of quarter	Acquired / Disposed	Interest at end of quarter
The mining tenements held at the end of the quarter and their location	E09/1985	Yalbra WA	15%	N/A	15%
	E15/1447	Lake Lefroy WA	100%	N/A	100%
	E20/659	Eelya Hill WA	10%	N/A	10%
	P20/2018	Eelya Hill WA	10%	Disposed	0%
	E20/874	Sunday Well WA	100%	N/A	100%
	E20/880	Yallon Well	100%	N/A	100%
	E28/2313	Green Dam WA	100%	N/A	100%
	E28/2327	Green Dam WA	100%	N/A	100%
	E28/2504	Manners Flat WA	100%	N/A	100%
	E28/2550	Pinnacles WA	100%	Disposed	0%
	E28/2577	Pinnacles WA	0%	Acquired	100%
	E36/843	Leinster WA	100%	N/A	100%
	E37/1176	Leonora WA	100%	N/A	100%
	E38/2889	Malle Hen Point WA	100%	N/A	100%
	E38/2961	Mt Venn WA	100%	N/A	100%
	E38/2999	Malle Hen Point North WA	100%	N/A	100%
	E38/3092	Point Sunday	0%	Acquired	100%
	E46/982	Pilbara WA	100%	N/A	100%
	E51/1622	Telegraph Well WA	100%	N/A	100%
	E51/1693	Mt Maitland WA	100%	N/A	100%
	E52/1529	Mt Padbury WA	100% (Note 1)	N/A	100% (Note 1)
	E52/2350	Butcher Bird WA	100%	N/A	100%
	E52/2658	Butcherbird South WA	100%	N/A	100%
	E52/2831	Millidie Creek WA	100%	N/A	100%
	E52/3082	Mt Padbury WA	100%	N/A	100%
	E52/3082	Mt Padbury WA	100%	N/A	100%
	E52/3272	Butcher Bird East WA	100%	Disposed	0%
	E52/3337	Butcher Bird North WA	100%	N/A	100%
	E52/3353	Peak Hill WA	0%	Acquired	100%
	E52/3354	Peak Hill WA	0%	Acquired	100%
	E52/3355	Peak Hill WA	0%	Acquired	100%
	E53/1834	Mt Keith WA	100%	Disposed	0%
	E58/489	Challa Well WA	100%	Disposed	0%
	E58/494	Naluthanna Hill WA	100%	N/A	100%
	E59/2143	Twin Peaks WA	100%	N/A	100%
	E63/1750	Lake Johnston WA	100%	N/A	100%
	E77/2294	Holleton WA	100%	Disposed	0%
	E77/2334	Holleton WA	0%	Acquired	100%
	E69/3311	Cunyu WA	100%	N/A	100%

Notes:

1) 100%
interest
held
in
all
minerals
other
than
iron
ore
and
manganese.

Ground
Floor,
31
Ventnor
Street,
WEST
PERTH
WA
6005
|
Phone
+61
8
6315
1400

10