EMERALD RESOURCES NL — Interim / Quarterly Report 2016

Jul 28, 2016

29 July 2016

ASX Announcement

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QUARTERLY ACTIVITIES AND CASHFLOW REPORT 30 June 2016

The Board of Emerald Resources NL ( EMR or Company ) is pleased to announce the Quarterly Activities Report and Appendix 5B Quarterly Cashflow Report for the period ended 30 June 2016.

Yours sincerely,

MORGAN HART Managing Director

Emerald Resources NL ACN 009 795 046 1110 Hay Street, WEST PERTH, WA, AUSTRALIA, 6005 PO Box 1408 West Perth WA 6872 T: 1300 729 543 F: 1300 729 528 E:info@emeraldresources.com.au

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Joint Venture with Renaissance Minerals Limited (ASX:RNS) – Cambodian Gold Project

As announced on 17 May 2016, the Company recommenced trading on the Australian Securities Exchange (ASX) after satisfaction of the remaining conditions precedent of the Farm-in and Joint Venture Agreement with Renaissance Minerals Limited (Renaissance)(ASX:RNS) and re-compliance with Chapters 1 and 2 of the ASX Listing Rules.

As announced on 3 February 2016, Emerald may earn up to a 51% interest in Renaissance’s Cambodian Gold Project by sole funding a Definitive Feasibility Study for the development of Okvau Gold Deposit to a bankable level, an Environmental & Social Impact Assessment and a 2 year exploration program of US$3 million (Details of the Joint Venture Agreement are included at Appendix 4).

Emerald and Renaissance are now moving forward with a significant exploration program which will initially focus on testing previously identified target areas that offer considerable upside scope for additions to the currently defined 1.13Moz resource estimate at the Okvau Deposit.

Proposed Merger with Renaissance Minerals Limited (ASX:RNS)

On 19 July 2016, the Company and Renaissance jointly announced that they had entered into a definitive Bid Implementation Agreement (Implementation Agreement) in relation to a proposal to merge the two companies. It is proposed that Emerald will acquire all of the issued shares of Renaissance that it does not already own in a share based transaction by way of an off-market takeover offer (Offer).

Under the Offer, Renaissance shareholders will receive 1.55 new Emerald shares for every 1 Renaissance share held.

Strategic Rationale for the Transaction

The merged entity creates a mid-tier gold company which is well positioned for continued project expansion and development and further opportunities. Key features of the merged entity include:

• 100% owned Cambodian Gold Project:

• Okvau and adjoining O’Chhung exploration licences covering approximately 400km[2] of project area in the core of a prospective Intrusive Related Gold district in the eastern plains of Cambodia

• o 1.13Moz resource estimate at the Okvau Gold Deposit

• PFS completed for single open pit containing 829,000oz at 2.2g/t gold[5] . DFS underway

• Substantial exploration and project generation potential

• Simplified single ownership structure and operational management of assets allows for acceleration of exploration and development

• Synergies through removal of duplicated corporate and head office administrative functions

• Pro forma market capitalisation of merged entity of approximately A$95 million[1]

• Strong balance sheet with A$18 million of cash[2] and no debt

• Well positioned for continued project expansion and development

• Emerald Board to be expanded with appointment of Mr Justin Tremain as Executive Director

• Enhanced financing options and broader equity market appeal from scale, improved liquidity and ability to source development financing

Emerald Resources NL ACN 009 795 046

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Management and Governance

Mr Simon Lee AO will remain as Chairman of the Board of the combined group. Morgan Hart, Managing Director of Emerald will remain as Managing Director of the combined group. Ross Stanley and Ross Williams will remain as Non-Executive Directors of the combined group and Justin Tremain, Managing Director of Renaissance, will be offered a position as Executive Director on the Board of the combined group. Justin’s appointment will retain long term knowledge of the Cambodian Gold Project and allow for a focus on corporate promotion, business development and project financing.

Transaction Details

The Offer will be implemented by way of an off-market takeover offer under the Corporations Act. Emerald will offer 1.55 new Emerald shares for every 1 Renaissance share.

The Offer extends to any Renaissance shares that are issued as a result of the exercise of Renaissance options during the Offer. In addition, Emerald intends to enter into private treaty arrangements with Renaissance’s option holders pursuant to which their Renaissance options will be cancelled or transferred in exchange for new Emerald options with an exercise price equal to the exercise price of the relevant Renaissance option divided by 1.55, and an expiry date the same as the relevant Renaissance option.

The Offer is subject to the satisfaction or waiver of the conditions included in the Implementation Agreement, and which are summarised below:

• a 90% minimum acceptance condition;

• no prescribed occurrence (as defined in the Implementation Agreement) occurring in relation to Renaissance during the Offer period;

• no material adverse change (as defined in the Implementation Agreement) occurs in relation to the affairs of Renaissance during the Offer period;

• no material acquisitions, disposals or new commitments being undertaken by Renaissance during the Offer period; and

• no material litigation being threatened or commenced against Renaissance during the Offer period.

Each of the conditions can be waived in Emerald’s sole discretion.

Renaissance has agreed to customary exclusivity arrangements including “no shop”, “no talk” and no due diligence restrictions, and notification rights, subject to a customary fiduciary exception to allow it to consider competing proposals.

The Implementation Agreement announced on 19 July 2016 sets out the terms of the Offer in full. Further details of the Offer will also be included in the Bidder’s Statement and Target’s Statement that will be despatched to Renaissance shareholders shortly.

Pre-bid Acceptances and Shareholder Intention Statements

Renaissance shareholders representing 9.4% of Renaissance shares have entered into binding pre-bid acceptance agreements to accept the Offer in respect of their Renaissance shares. The obligation of Renaissance shareholders to accept the Offer will cease in limited circumstances, including if a superior proposal is made and recommended by the Recommending Directors.

Emerald Resources NL ACN 009 795 046

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The effect of the pre-bid acceptance agreements combined with Emerald’s existing holding of 10% of Renaissance shares means Emerald currently has a relevant interest in 19.4% of Renaissance shares on issue.

The full terms and conditions of the pre-bid acceptance agreements are attached to Emerald’s change in substantial shareholder interest notice, in relation to Renaissance, which was released on 20 July 2016.

In addition, certain Renaissance shareholders, holding in the aggregate 86,381,625 shares equating to 15% of Renaissance shares, have indicated their intention to accept the Offer in full no earlier than 21 days after commencement of the Offer period in the absence of a superior proposal.

Indicative Timetable

The indicative timetable for the Offer is set out below:

Event	Target Date
Expected date of lodgement of Bidder’s Statement and Target’s Statement with ASIC and ASX	16 August 2016
Expected date of despatch of Bidder’s Statement and Target’s Statement to Renaissance shareholders	23 August 2016
Expected Offer open date	23 August 2016
Expected Offer close date (unless extended in accordance with the Corporations Act)	23 September 2016

Advisers

Steinepreis Paganin is acting as Australian legal adviser to the Company.

Cambodian Gold Project

The Okvau Gold Project and adjoining O’Chhung licences which also form part of the MoA cover approximately 400km[2] of project area and are located within the core of a prospective Intrusive Related Gold province in the eastern plains of Cambodia (Cambodian Gold Project). The Project is located in the Mondulkiri Province of Cambodia approximately 265 kilometres north-east of the capital Phnom Penh (Figure 1).

Despite the onset of the wet season in Cambodia, drilling and other feasibility related field activities are advancing as planned.

Emerald Resources NL ACN 009 795 046

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Figure 1: Location of Okvau and O’Chhung licences

Feasibility Activities

A diamond drilling program comprising five holes (624 metres) was completed to target various zones of mineralisation within the existing Okvau resource to provide representative samples for metallurgical test work. Samples will be exported to Perth, Western Australia for test work. Assays are still to be received for the final three holes. Results from the first two holes include (refer Appendix 2 for full details):

• DD16MET002: 7m at 1.19g/t gold from 0m (drilled for oxide material)

• DD16MET003: 16.9m (EOH) @ 10.87g/t gold from 78m (drilled down dip to previous hole DD11OKV086: 32m @ 2.7g/t gold from 59m)

Water monitoring bore holes have been drilled at 27 sites (for 47 holes or 566 metres) over the Okvau project area including the resource area and proposed TSF location (Figure 2). This will allow for completion of a detailed hydrogeology study and site layout planning.

Emerald Resources NL ACN 009 795 046

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Figure 2: Hydrogeology Bore Hole Program

Holes drilled within the proposed location of the TSF were assayed for gold to serve the dual purpose of sterilization drilling. No significant results were returned from this area.

The resource infill drilling program comprising of 67 holes for 7,200 metres remains on schedule with 23 holes or 1,700 metres completed to date. The infill program will reduce the drill spacing on the Okvau Deposit to 20 by 20 metres for the top 120 metres of the resource. Drilling is being undertaken on double shift to accelerate the program. No assay results have been received to date from the infill program and will be reported progressively as received.

Other feasibility aspects including geotechnical, process design and the environmental and social impact assessment (ESIA) continue to progress as planned. A number of waste samples from historical drill core have been exported to Melbourne, Victoria for waste characterisation analysis as part of the final ESIA.

Emerald Resources NL ACN 009 795 046

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Exploration Activities

Approximately 1,000 geochemical auger samples were collected across regional target areas prior to heavy rainfall. A total of 320 samples were collected over the O’Rman Prospect with 8 samples returning +1g/t goldin-soils and up to 2.55g/t gold-in-soils (Figure 3). O’Rman is located approximately 6 kilometres north of the Okvau Deposit. A strong, coherent geochemical anomaly extending over an area of 800 metres by 600 metres has now been defined at O’Rman by the recent sampling and provides an exciting regional drill target. No historical drilling has been undertaken at O’Rman. First pass drill testing of O’Rman will depend on access during the wet season and may need to wait until immediately after the wet season (November).

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Figure 3: O’Rman Prospect - Soil Geochemistry

Emerald Resources NL ACN 009 795 046

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Prior to the onset of heavy rains associated with the wet season in Cambodia, limited exploration drilling was completed at the Prey Sror Lao Prospect located 4 kilometres to the north of Okvau and the Samnang Prospect located adjacent to the Okvau Deposit (Figure 4).

Three diamond holes for a total of 613 metres was completed at Samnang to test the main northern and southern IP anomalies. Pyrrhotite-chlorite skarn alteration was logged on diorite contacts with some zones of arsenopyrite rich mineralization. Assay results are expected in the coming weeks and will be reported at the earliest possible opportunity. It is likely further RC drilling will be undertaken at Samnang once assays from the initial diamond holes are received.

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Figure 4: Samnang Diamond Drill Hole Collar Location

Prey Sror Lao drilling of 8 RC holes for 679 metres was undertaken. The most significant result returned was 1 metre @ 4.84g/t gold from 3 metres (refer Appendix 2 for full details).

Appalachian Gas - Magoffin County, Kentucky

Emerald 5% Overriding Royalty Interest)

The Company has a 5% overriding royalty interest in all gas production from various oil and gas interests located in Magoffin County, Kentucky (Leases). The royalty interest continues over any new oil and gas lease where that new oil and gas lease is in respect of any part of an area that was the subject of the Leases that may be relinquished, surrendered or not renewed.

During the quarter, there was no product recovered and sold from the Leases and the royalty received for the period was nil.

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Corporate

Directors

Mr Simon Lee AO - Chairman Mr Morgan Hart - Managing Director Mr Ross Stanley - Non Executive Director Mr Ross Williams - Non Executive Director

Cash and Cash Equivalents

At 30 June 2016 the Group had $14.51m cash on hand (31 March 2016: $14.76m) and investments in ASX listed companies, including Renaissance, of $3.42m (31 March 2016: $2.82m).

Issued Capital

Issued capital as at 30 June 2016 was 1,306,594,114 fully paid ordinary shares (and 20,000,000 unlisted 2.5c options expiring 21 January 2020).

Public Announcements

The Company made the following announcements since 1 April 2016 to the date of this report:

Date	Headline
20/07/2016	Change in Substantial Holding for RNS
19/07/2016	Emerald Resources and Renaissance Minerals to Merge
18/07/2016	Trading Halt
10/06/2016	Change in substantial holding
17/05/2016	RNS: Drilling Commences Satisfaction of JV Conditions
17/05/2016	Emerald to Commence Works at Okvau Gold Deposit
13/05/2016	Statement of Confirmations to ASX
13/05/2016	Constitution
13/05/2016	Securities Trading Policy
13/05/2016	Information Form & Checklist
13/05/2016	Appendix 1A
13/05/2016	Top 20 Shareholders
13/05/2016	Distribution Schedule
13/05/2016	Pre-reinstatement Disclosure
13/05/2016	ASX Notice
13/05/2016	Reinstatement to Official Quotation - 17 May 2016
10/05/2016	Share Issue and Appendix 3B
26/04/2016	Quarterly Activities and Cashflow Report March 2016
1/04/2016	Prospectus Offer Closed Fully Subscribed

Emerald Resources NL ACN 009 795 046

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For more information please contact:

MORGAN HART Managing Director

Note:

• 1 The pro forma indicative market capitalisation of the merged entity is calculated based on the last traded share price of Emerald on 15 July 2016 of 4.5 cents multiplied by the number of Emerald shares which would be on issue assuming it acquires all of the issued shares in Renaissance under the Offer, and does not take into account any options. There is no guarantee of the price at which Emerald’s shares will trade on completion of the Offer.

• 2 Based on cash position of Emerald and Renaissance of approximately A$14.5 million and A$3.7 million respectively at 30 June 2016.

• 3 Based on the last traded price of Emerald shares on 15 July 2016 of 4.5 cents, the Offer of 1.55 Emerald shares for 1 Renaissance share and 574,444,444 Renaissance shares on issue.

• 4 Based on the 30 day VWAP of Emerald and Renaissance of 4.64 cents and 5.66 cents respectively to 15 July 2016.

• 5 Reference is made to Renaissance’s ASX release dated 27 July 2015 titled Okvau PFS Demonstrates Compelling Project Economics. All material assumptions underpinning the production target or the forecast financial information continue to apply and have not materially changed.

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Appendix 1 - Okvau Mineral Resource Estimate - July 2015

	July	2015	JORC Resource	(0.6g/t gold cut-off)
			Tonnage	Grade	Gold
			(Mt)	(g/t Au)	(Koz)
Indicated			13.2	2.3	962
Inferred			2.7	2.0	169
Total			15.8Mt	2.2g/t	1,131

Competent Persons Statements

The information in this report that relates to the Mineral Resources for the Okvau Gold Deposit was prepared by International Resource Solutions Pty Ltd (Brian Wolfe), who is a consultant to the Company, who is a Member of the Australian Institute of Geoscientists (AIG), and has sufficient experience 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 by the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Wolfe consents to the inclusion of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Exploration Results is based on information compiled by Mr Craig Johnson, who is an employee of the Company and who is a Member of The Australasian Institute of Geoscientists. Mr Craig Johnson has sufficient experience which is relevant to the style of mineralisation and type of deposits 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 Craig Johnson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Reference is made to the Company’s ASX release dated 27 July 2015 titled Okvau PFS Demonstrates Compelling Project Economics. All material assumptions underpinning the production target or the forecast financial information continue to apply and have not materially changed.

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Appendix 2 - Drilling Results

								Intersection	Intersection
Hole Name	Easting	Northing	RL	Azi	Dip	End Depth	From	To	Interval	Gold
						(m)	(m)	(m)	(m)	(g/t)
DD16MET002	694466	1396727	139	295	-58.5	16.5	0	7	7	1.19
							14	15	1	9.61
DD16MET003	694544	1396608	145	314	-53	94.9	0	1	1	2.94
							52	54	2	4.33
							60	61	1	2.73
							78	94.9	16.9	10.87
RC16PSL004	695170	1399750	163	359	-50	82				NSR
RC16PSL005	695170	1399700	164	359	-50	84				NSR
RC16PSL006	695170	1399650	168	359	-50	85	3	4	1	4.84
RC16PSL007	695170	1399600	169	359	-50	80	7	8	1	1.36
RC16PSL008	695170	1399550	170	359	-50	80				NSR
RC16PSL009	694660	1400325	154	359	-50	80	45	46	1	1.15
							54	57	3	1.42
RC16PSL010	694660	1400225	159	359	-50	108	36	37	1	1.02
							40	42	2	1.10
							50	51	1	1.15
RC16PSL011	694660	1400375	151	359	-50	80	35	36	1	1.90

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Appendix 3 - JORC Code, 2012 Edition ‘Table 1’ Report Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections).

Criteria	JO RC Code explanation	Commentary
Sa mpling te chnique s	 N a ture and qua lity ofsa mpling (e g cutcha nne ls,ra ndom chips,or spe cificspe cialised industry sta nda rd me a sure menttools a ppropria te tothe mine ra lsunde rinve stiga tion,sucha sdownhole ga mma sondes,orha ndheld XRFinstrume nts,e tc).The se e xa mple s should notbe ta kena slimiting the broa d me a ning ofsa mpling.  Include re fe rence tome a sure sta ke ntoe nsure sa mple re pre se ntivity a nd the a ppropria te ca libra tionofa ny me a sure me nttoolsor systemsuse d.  A spe ctsofthe de te rmina tionofminera lisa tiontha ta re M a te rial to the PublicRe port.  Inca se swhe re ‘industry sta nda rd’work ha sbe e ndone thiswould be re la tively simple (eg ‘re ve rse circula tiondrilling wa suse d toobta in 1 m sa mple sfrom which3 kg wa spulve rise d toproduce a 30 g cha rge forfire a ssa y’).Inothe rca sesmore expla na tionmay be re quire d,sucha swhe re the re iscoa rse gold tha tha sinhe rent sa mpling proble ms.Unusua l commoditie sormine ra lisa tiontype s(e g submarine nodule s)maywarra ntdisclosure ofde ta ile d information.	 Dia mond drilling isuse d tore cove ra continuouscore sa mple ofbe drock.Sta nda rd 1m le ngthhalf-core sample s a re submitte d fora ssa y.  Reve rse circula tion(RC)drilling isused tocollect1m sa mple sthe se a re riffle splita tthe drill rig toproduce a 3- 5kg sub-sa mple.  Soil sa mple s(a pprox.100g)a re colle cte d from sha llow (+/-20-30cm deep)a uge rs,toa void a ny surfa ce conta mina tiona nd use d tode fine a re a sofinte re sta nd/or drill ta rge ts.  Sa mple pre pa ra tionisca rrie d outa ta commercial off-site la bora tory (A L S Phnom Pe nh)a nd a ssa ysa re conducte d a t the A L S Vie ntia ne a ssa y labora tory  Sta nda rds,duplica te sa nd bla nksa re inse rte d insa mple ba tche stotestla bora tory pe rformance
Drilling te chnique s	 Drill type (e g core,re ve rse circula tion,open-hole ha mme r,rota ry a ir bla st,a uge r,Ba ngka ,sonic,e tc)a nd de ta ils(e g core dia me ter,triple orsta ndard tube ,de pthofdia mond ta ils,fa ce -sa mpling bitorothe r type ,whe the rcore isoriente d a nd ifso,by wha tme thod,e tc).	 A tra ck-mounte d Boa rtL ongye a rL F70 M /P drill rig isuse d todrill H Q 3 a nd N Q 2 diamond core .  A tra ck mounte d Boa rtL ongye a rDB540M /P drillrig isuse d todrill 5.25 inchRC holes.  Core diame te rreporte d forhole sinthisre le ase wa sH Q 3in oxidiz e d z one sa nd N Q 2 infreshrock.  Core wa soriente d by me a nsofa REFL EX A CEorienta tion tool,followinga sta nda rd ope ra ting proce dure .
Drill sa mple recove ry	 M e thod ofrecording a nd asse ssing core a nd chipsa mple re cove rie s a nd re sultsa sse ssed.  M e a sure sta ke ntomaximise sa mple re cove ry a nd e nsure re pre senta tive na ture ofthe sa mples.  W he the ra rela tionshipexistsbe twee nsa mple re cove ry a nd gra de a nd whe the rsa mple bia sma y ha ve occurre d due topre fe rential loss/gainoffine/coa rse mate rial.	 A ll RC 1m sa mplesa nd sub-sa mples(pre -a nd post-split) a re we ighe d a tthe rig,toche ck tha tthe re isa de qua te sa mple ma te ria l fora ssa y.A ny we torda mpsa mple sa re note d a nd tha tinformationisre corde d inthe da ta ba se ; sa mple sa re usua lly dry.  Dia mond core recove ry isroutinely monitore d by compa ring recove re d core vsdrill runle ngths–recove ry is consiste ntly high.Re cove ry da ta a re recorded ondrill run le ngths  The re isnore la tionshipbe twe ensa mple recovery a nd gra de
L ogging	 W he the rcore a nd chipsa mple sha ve bee ngeologica lly a nd ge ote chnica lly logge d toa le vel ofde ta il tosupportappropriate M ine ra l Re source estimation,mining studie sa nd me ta llurgica l studie s.  W he the rlogging isqua lita tive orqua ntita tive inna ture.Core (or coste a n,cha nne l,e tc)photogra phy.  The tota l le ngtha nd pe rce nta ge ofthe re le va ntinte rsectionslogge d.	 A ll RC chipsa nd dia mond core isroutinely logge d (qua lita tive ly)by a ge ologist,torecord de ta ilsofre golith (oxida tion),lithology,structure,minera liz a tiona nd/or ve ining,a nd a lte ra tion.Ina ddition,the magne tic susce ptibility ofall sa mple sisroutinely me a sure d.A ll logging a nd sa mpling da ta a re capture d intoa da ta ba se , witha ppropria te va lida tiona nd se curity fe a ture s.  A geote chnical log isproduce d forall dia mond core  Core ha sbe e nlogge d toana ppropria te le vel ofde ta il by a ge ologisttosupportminera l re source e stimation  100% ofcore islogge d,withthe mine ra lise d inte rse ctions logge d togre a te rde ta il  Ina dditiontothe ge ological logging,othe rfe ature s re corde d a re:locationofbulk de nsity sa mple s;downhole ca me ra survey ca libra tion,inte rva lsconfide ntly orie nted; a nd core condition.  Sta nda rd fie ld da ta a re simila rly re corde d (qua lita tively) routinely by a ge ologistfora ll soil sampling site s.

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Quarterly Activities Report – June 2016

Criteria	JO RC Code explanation	Commentary
Sub-sa mpling te chniquesa nd sa mple pre pa ra tion	 Ifcore,whe thercutorsa wna nd whethe rqua rte r,ha lforall core ta ke n.  Ifnon-core ,whe therriffle d,tube sa mple d,rota ry split,e tca nd whe the rsa mple d we tordry.  Forall sample type s,the nature ,qua lity a nd appropriate ne ssof the sa mple pre pa ra tionte chnique .  Q ua lity control proce dure sa dopte d forall sub-sa mpling sta ge sto maximise re pre se ntivity ofsa mple s.  M e a sure sta ke ntoe nsure tha tthe sampling isre pre senta tive ofthe insitu mate rial colle cte d,including forinsta nce re sultsforfield duplica te/se cond-ha lfsa mpling.  W he the rsa mple siz e sare appropriate tothe gra insiz e ofthe mate rial be ing sample d.	 M ostRC sa mple sa re dry a nd the re isnolike lihood ofcompromise d re sultsdue tomoisture.  Dia mond drill core issa wninha lfwithcore split using a core sa w;usua lly one halfispre se rved a sa ge ologica l re cord,the otherisse ntfora ssa y.For dia mond drill hole sre porte d inthisre le a se,the ha lfcore wa ssa wntoqua rte rcore,withone qua rte rcore se ntfora ssa y,one quarte rcore pre se rved a sa ge ological record and ha lfcore to be e xporte d forme ta llurgica l te stwork.  A ll typesofsa mple sa re pre pa re d fora ssa y a tthe N A TA a ccre dite d A L S Ca mbodia sample prep fa cility inPhnom Pe nh;a nd tha tfa cility ha sbee n inspecte d,a tthe re questofRe na issance,nume rous time sa nd mostrece ntly by M rBria nW olfe inJuly 2015.Sa mple sare drie d fora minimum of12 hours a t 100˚C;  Dia mond Core sample sa re crushed with a Boyd Crusher,to-2mm,witha rota ry splitte ra tta che d,to de liver a 1.0 to 1.2kg split; which in turn is pulveriz ed to-75µm by anEssa L M 2 orL M 5 Ring M ill. A sta nda rd >85% pa ssra te isa chie ved (with pa rticle siz e a nalysisperforme d a fte reve ry tenth sa mple asa check).  RC sa mple sa re splitto<3kg a nd pulveriz e d inan Essa L M 5 Ring M ill.A sta nda rd >85% pa ssra te is a chie ve d (withparticle siz e a na lysispe rforme d on e ve ry te nthsa mple a sa check).  A tle a stthree fie ld duplicate sa mple sa re colle cte d a ta nRC drillrig tomonitorsa mpling pre cision;while coa rse crush duplica te s of dia mond core a re ge nera ted a tthe sa mple pre psta ge (be ca use ofthe nee d topre se rve drill core ).  Field duplica te sofsoil sa mple sa re a lsocollecte d routinely (a pprox.1 e ve ry 20 sa mple s)  Thissa mple te chnique isindustry norm,a nd is de e me d appropria te forthe materia l
Q ua lity ofa ssa y da ta a nd la bora tory te sts	 The na ture ,qua lity a nd a ppropria te ne ssofthe a ssa ying a nd la bora tory proce dure suse d a nd whethe rthe te chnique is conside red pa rtia l ortota l.  Forgeophysica l tools,spe ctrome te rs,ha ndheld XRFinstrume nts,e tc, the pa rame te rsuse d inde te rmining the a na lysisincluding instrume ntmake and mode l,re a ding times,calibra tionsfa ctors a pplie d a nd the irde riva tion,e tc.  N a ture ofqua lity control proce dure sa dopte d (e g sta nda rds, bla nks,duplica te s,exte rna l la bora tory che cks)a nd whe the r a cce pta ble le ve lsofaccuracy (ie lack ofbia s)a nd precisionha ve be e nesta blishe d.	 A lldrillsa mple sare se nttothe N A TA a ccre dite d A L S L a bora tory inVientia ne,L a os,forfire a ssay (A u- A A 26:50g ore gra de me thod,total extra ctionby fusion, with a n A A finish). Samples re porting >100ppm uppe r de te ction limit a re re pe a te d by A u-A A G RA 22 me thod, G raphite furna ce withgra vime tricfinish.  Resource a nd M eta llurgy sa mple sa re se nt to the simila rly a ccre dited A L S L ab inBrisba ne ,A ustra lia, for multi-ele ment ICP ana lysis, a fte r pa rtia l e xtractionby a qua re gia dige stM E-M S42:ICP-M S forA g,A s,Bi,Cu,Sb,Te,H g  A ll Explora tion1m RC sa mple sa nd soil sa mple sare se nt to the N A TA a ccre dite d A L S L a bora tory in Brisba ne,A ustra lia ,forgold a nd multi-e le me ntICP a na lysis,a fte rpa rtia l extra ctionof a 25g sa mple by a qua re gia dige st(TL 43-M EPKG ,ICP M S/A ES forA u,A g,A l,A s,B,Ba,Be ,Bi,Ca,Cd,Ce,Co,Cr, Cu,Fe ,G a ,H g,K,L a ,M g,M n,M o,N a ,N i,P,Pb,S, Sb,Sc,Se ,Sn,Sr,Te ,Th,Ti,Tl,Te ,Th,Ti,Tl,U,V,W , Z n.  Fire a ssay isconside re d a tota l gold a ssa y  Thisme thod ha sa lowe rde te ctionlimitof0.01g/t gold  A ll magne ticsusceptibility me a sureme ntsofdrill sa mple sa re made witha Te rra plusKT-10 magne ticsusce ptibility me te r.  A na ppropria te sample prepa ra tiona nd a na lytical qua lity control progra mme confirmstha tthe gold fire a ssay value sa re ofacce pta ble qua lity to unde rpinmine ra l re source estimation.

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Criteria	JO RC Code explanation	Commentary
		 Industry-sta nda rd Q A Q C protocolsa re routine ly followe d forall sample ba tche sse ntforassa y, whichinclude sthe inse rtionofcomme rcia lly a va ila ble CRM sa nd bla nksintoa ll ba tche s- usua lly 1 ofe a chfore ve ry 20 fie ld sa mple s. Some blanksuse d a re home-made from ba rren ba sa ltorqua rry gra nite.Q A Q C da ta a re routinely checke d be fore any a ssocia te d a ssa y re sultsa re re vie we d forinte rpre ta tion,a nd any proble msa re investiga te d be fore resultsa re re le a se d tothe marke t-noissue swere raise d with the re sultsre ported he re.  A ll a ssa y da ta ,including inte rna l a nd exte rna l Q A /Q C da ta a nd control cha rtsofsta nda rd, re plica te a nd duplica te a ssay re sults,a re communica te d electronica lly
Ve rifica tionof sa mpling a nd a ssa ying	 The verifica tionofsignificantinte rsectionsby e ithe rindepe nde ntor a lte rna tive company pe rsonnel.  The use oftwinne d holes.  Docume nta tionofprimary da ta ,da ta e ntry proce dures,da ta ve rifica tion,da ta stora ge (physica l a nd electronic)protocols.  Discussany a djustme nttoassa y da ta .	 The ca lcula tionsofa ll significa ntinterce pts(fordrill hole s)a re routinely checked by se nior mana geme nt.  A ll fie ld da ta a ssocia te d withdrilling a nd sa mpling, a nd a ll associa te d a ssa y a nd a na lytica l re sults,a re a rchive d ina rela tional da ta ba se ,withindustry- sta nda rd ve rifica tionprotocolsa nd se curity me a sure sinpla ce .
L oca tionofda ta points	 A ccura cy a nd quality ofsurveysused toloca te drill hole s(colla r a nd down-hole surveys),trenches,mine workingsa nd othe r loca tionsuse d inM inera l Resource estimation.  Specificationofthe grid syste m used.  Q ua lity and a de qua cy oftopogra phiccontrol.	 Drill hole colla rloca tionsa re firstsurveye d witha ha nd-held G PS instrume nt(whichgene ra tes re la tively ina ccurate RL va lue s),butthe loca tionsof a ll holesuse d inM inera l Resource estimate sare ve rifie d ora me nde d by prope rsurve y using a differentia l G PS by a nd exte rna l contra ctor(with e xcelle nta ccura cy inall dime nsions).A ll loca tions a re surveye d tothe W G S84 UTM grid.Colla r coordina te sa re routinely conve rte d toa loca l grid (local N is a pprox. e quiva lent to UTM 045˚), with a na ppropria te tra nsformationa bouta common point-tosimplify the inte rpre ta tionofdrill cross se ctions.  Down-hole surve ysa re routine ly unde rta kena t25- 30m interva lsforall typesofdrilling,using a single -shotormulti-shotREFL EX survey tool (ope ra ted by the drillera nd che cked by the supe rvising ge ologist).
Da ta spa cing a nd distribution	 Da ta spa cing forre porting ofExplora tionRe sults.  W he the rthe da ta spa cing a nd distributionissufficie nttoesta blish the de gre e ofgeologica l a nd gra de continuity a ppropria te forthe M ine ra l Re source and O re Re se rve e stimationproce dure (s)a nd cla ssifica tionsa pplie d.  W he the rsa mple compositingha sbee napplied.	 Thisdrill spa cing isconsidere d tobe sufficientto e sta blishge ologica l a nd gra de continuity a ppropria te forthe de cla ra tionofe stimate sof re source s  N osa mple swithina “z one ofintere st”a re eve r composite d
O rie nta tionofda ta inrela tionto ge ologica l structure	 W he the rthe orie nta tionofsa mpling a chie ve sunbia se d sa mpling ofpossible structure sa nd the e xte nttowhichthisisknown, conside ring the deposittype .  Ifthe rela tionshipbe twee nthe drilling orienta tiona nd the orie nta tionofke y mine ra lise d structure sisconside re d toha ve introduced a sa mpling bia s,thisshould be a sse sse d a nd re ported ifmate ria l.	 Drill holesa re usua lly de signe d tointe rse ctta rge t structure switha “close -to-orthogonal”inte rcept.  Drilling ha sbee ndone a tva riousorie nta tions  M ostofthe drill hole sinte rse ctthe mine ra lise d z one sa tsufficie nta ngle forthe risk ofsignifica nt sa mpling orie nta tionbia stobe low.
Sa mple se curity	 The me a sure sta kentoe nsure sa mple security.	 The cha inofcustody forall drill sa mple sfrom the drill rig tothe A L S Sa mple Pre pfa cility inPhnom Penhisma na ge d by Re naissa nce pe rsonne l.RC drill sa mple sa re tra nsported from the drill site to the O kvau field camp,whe re core islogge d and a ll sa mple sa re ba tche d upforshipmenttoPhnom Penh.Soil sa mple sa re collecte d by Re na issa nce pe rsonne l a nd they de live rthe sa mple stothe A SL sa mple pre pfacility.  Sa mple submissionformsa re se nttothe A L S Sa mple Pre pfa cility inpape rform (withthe sa mple s the mse lve s)a nd alsoa sa ne le ctroniccopy. De live red sa mplesa re re concile d withthe batch

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Criteria	JO RC Code explanation	Commentary
		submissionform priortothe commence mentofa ny sa mple pre pa ra tion.  A L S isresponsible forshipping sa mple pulpsfrom Phnom Penhtothe a na lytical la bora torie sin Vie ntia ne a nd Brisba ne ,a nd a ll sa mple sa re tra cke d via theirG loba l Ente rprise M a na geme nt Syste m.  A ll bulk re sidue sare store d pe rmanently a tthe A L S la bora tory inVientia ne,exce ptforsa mple sfrom the first9 drill holes,whichwe re submitte d to M ine ra l A ssaya nd Se rvicesCoinTha ila nd
A uditsorre vie ws	 The resultsofa ny a uditsorre vie wsofsa mpling te chnique sand da ta .	 A ll Q A Q C da ta a re re vie we d routine ly,ba tchby ba tch,a nd ona qua rte rly ba sistoconducttre nd a na lyse s,e tc.A ny issue sa rising a re de a ltwith imme dia te ly a nd proble msre solve d be fore re sults a re inte rpre te d and/orreporte d.  Comprehe nsive Q A Q C a uditsha ve be e nconducte d onthisproje ctby Dunca nH a ckman(A ugust2009, Fe brua ry 2010 & N ove mber2011),SRK (Fe brua ry 2013)a nd N ola H a ckman(Ja nua ry 2014).  M rBria nW olfe reviewe d the da ta forthe Rena issance drilling uptoJuly 2015 a nd conclude d tha tthe re a re noconcernsa boutda ta qua lity.

Section 2 Reporting of Exploration Results

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

Criteria	Explanation	Commentary
M ine ra l te ne ment a nd la nd te nure sta tus	 Type,re fe re nce na me /numbe r,loca tiona nd owne rshipincluding a gre e mentsormate rial issue swiththird pa rtiessucha sjoint ve nture s,pa rtne rships,ove rriding roya lties,native title inte rests, historical site s,wilde rne ssorna tional pa rk a nd e nvironme nta l se ttings.  The security ofthe te nure he ld a tthe time ofre porting a long with a ny knownimpe dime ntstoobta ining a lice nce tooperate inthe a re a .	 The O kva u Projectiscomprise d oftwote neme nts: the O kvau ExplorationL ice nce (N o.0187 M M EM R EL )a nd the O Chhung Explora tionL ice nce (N o. 0185 M M EM R EL ),bothofwhicha re held (100% ) inthe name ofRena issa nce M ine rals(Ca mbodia ) L td,a wholly owned Ca mbodia nsubsidia ry of Rena issance M inera lsL td.  The te nure isconside re d tobe comple tely se cure.  The O kva u Explora tionL icence isloca te d withinthe broa de rPhnom PrichW ilderne ssSa nctua ry are a butloca te d outside ofthe ‘core z one ’.  The Royal G ove rnme ntofCa mbodia (via the M inistry ofM ine sa nd Energy)isve ry supportive of the Projecta nd hasgive na ssura nce stha tmining will be allowe d toproce e d a tO kva u.
Explora tiondone by othe rpa rtie s	 A cknowledgme ntand a ppra isa l ofe xplora tionby othe rpa rtie s.	 Rena issance M inera ls(Ca mbodia )L td wa sforme rly na me d O Z M ine ra ls(Ca mbodia )L td,a 100% owne d subsidia ry ofO Z M ine ra lsL td.O Z M inera ls wa sforme d in2009 by the me rge rofO xiana L td (whoinitia te d the O kva u Proje ct)a nd Z inifex.  O xia na a nd O Z M ine ra lscomple ted the following work a tO kva u be twee n2006 a nd 2011:a re source drill-outofthe O kva u de posit;plusa re gional ge ologica l inte rpre ta tionofL a ndsa t image ry;stre a m se dime ntge ochemistry,withsome soil sa mpling follow-up;a irborne magne tica nd ra diome tricsurveysove rbothEL s,a nd va rious ground ge ophysica l surveys(including gra dient a rra y IP);geologica l mapping a nd tre nching;a nd the initia l drill te sting ofva riouse xplora tion ta rge ts.
G eology	 De posittype,ge ological se tting a nd style ofmine ra lisa tion.	 The O kva u de positisinte rpre te d asa n“intrusion- re la te d gold system”.Itishoste d mostly in Cre ta ceousa ge diorite a nd,toa le sse rexte nt,in surrounding hornfels(me ta morphose d,fine -graine d cla sticsedime nts).G old mine ra liz a tionishoste d withina complexarrayofsulphide ve ins,which

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Criteria	Explanation	Commentary
		strike northe a sttoe a st-west,a nd dipa tsha llow to modera te ly stee pa ngle s,tothe southa nd southe a st.  M ine ra lisa tionisstructura lly controlled a nd mostly confine d tothe diorite.The highestgra de inte rsectionsge nera lly occura tthe diorite-hornfels conta ct.  The hostdiorite a tO kva u isone ofnume roussimila r Cre ta ceous-a ge d intrusionsine a ste rnCa mbodia , whicha re be lie ve d tobe rela te d toana ncie nt subductionz one tha twa sloca te d tothe e a st,off the coa stofcurre ntVie tna m.
Drill hole Information	 A summary ofa ll informationmate rial tothe unde rsta nding ofthe e xplora tionre sultsincluding a ta bulationofthe following informationfora ll M a te ria l drill holes: - e a sting and northing ofthe drill hole colla r - e le va tionorRL (Reduce d L eve l –e leva tiona bove se a le ve l inme tre s)ofthe drill hole colla r - dipa nd a z imuthofthe hole - downhole le ngtha nd interce ptionde pth - hole le ngth. Ifthe exclusionofthisinforma tionisjustifie d onthe ba sistha tthe informationisnotM a te rial a nd thise xclusiondoe snotde tra ctfrom the unde rsta nding ofthe report,the Compe tentPe rsonshould cle a rlyexpla inwhythisisthe ca se.	 A summary ofa ll drilling re sultsa nd de ta ilsa re show inA ppe ndixTwo  O nly interce ptswitha minimum widthof3 me tre s a ta 0.5g/tgold cut-offa nd interceptswitha widthle sstha n3 me tre sa t1.0g/tgold cut-offa re conside red significa nta nd re porte d inA ppe ndix Two.
Da ta a ggre ga tion me thods	 Inre porting Explora tionRe sults,weighting a vera ging technique s, maximum a nd/orminimum gra de trunca tions(e g cutting ofhigh gra de s)a nd cut-offgra de sa re usually M a te ria l a nd should be sta te d.  W he re aggre ga te inte rce ptsincorpora te shortle ngthsofhigh gra de resultsa nd longe rlengthsoflow gra de re sults,the proce dure use d forsucha ggre ga tionshould be sta te d a nd some typical exa mple sofsuchaggre ga tionsshould be showninde ta il.  The assumptionsuse d forany re porting ofmeta l e quiva le ntva lue s should be cle a rly sta te d.	 A ll gold va luesove r0.5g/tgold witha minimum widthof3 me tre sa nd gold va lue sove r1.0g/t gold witha widthoflesstha n3 me tre sfrom drilling a re re porte d (A ppe ndixTwo).  Significantdrill inte rce ptsare re porte d a ta 0.5g/t A u cut-offgra de,witha ma ximum inte rna l dilution of4m (ina single z one ofwa ste ).A we ighte d a ve ra ge gra de isca lcula ted a sthe sum ofthe productsofsa mple le ngtha nd gra de fore ach sa mple inthe rele va ntinterva l,divided by the tota l le ngthofthe inte rva l.  N ohighgra de topcutshave be ena pplie d.  N orounding ha sbe ena pplie d.  A ll re sultsre porte d a re gold only
Rela tionshipbe twe en mine ra lisa tionwidths a nd interce ptle ngths	 The se rela tionshipsa re pa rticula rly importa ntinthe reporting of Explora tionRe sults.  Ifthe geome try ofthe mine ra lisa tionwithre spe cttothe drill hole a ngle isknown,itsna ture should be re porte d.  Ifitisnotknownand only the downhole le ngthsa re reporte d, the re should be a cle a rsta te menttothise ffe ct(e g ‘downhole le ngth,true widthnotknown’).	 The majority ofdrill hole sinte rsectthe mine ra lisa tiona ta sufficienta ngle forthe risk of sa mpling orie nta tionbia stobe low
Dia gra ms	 A ppropria te mapsa nd se ctions(withsca le s)and ta bula tionsof inte rce ptsshould be included fora ny significantdiscove ry being re porte d The se should include ,butnotbe limited toa pla nvie w of drill hole colla rloca tionsa nd appropria te sectiona l vie ws.	 A ppropria te mapsa re include d inthe body ofthis re le a se .
Ba la nce d re porting	 W he re compre hensive re porting ofa ll Explora tionRe sultsisnot pra ctica ble,re pre se nta tive re porting ofbothlow a nd highgra de s a nd/orwidthsshould be practice d toa void misle a ding re porting ofExplora tionRe sults.	 A ll significa ntdrilling resultsbe ing inte rse ctionswith a minimum widthof3 me tre sa ta cut-offof0.5g/t gold a nd inte rce ptswitha widthofle sstha n3 me tresa t1.0g/tgold cut-offa re re porte d in A ppe ndixTwo.  Soil geoche mica l anomalie sa re de picte d onthe a tta che d mapswithsa mple pointscolore d by gold le vels.
O the rsubsta ntive e xplora tionda ta	 O the rexplora tionda ta ,ifme a ningful a nd ma te ria l,should be re porte d including (butnotlimite d to):geologica l obse rva tions; ge ophysica l survey re sults;ge ochemica l survey re sults;bulk sa mple s –siz e a nd me thod oftre a tme nt;meta llurgical testre sults;bulk de nsity,groundwa te r,geote chnical a nd rock cha ra cteristics; pote ntial de le te riousorconta mina ting substa nce s.	 Surface ge ologica l mapping a nd de ta ile d structura l studie sha ve helpe d inform the geological model ofthe O kvau De posit.  Refe re nce stoIP ge ophysicsre fe rtocha rge ability a nd re sistivity re sultsfrom va riousinduce d pola riz a tiongeophysicsmethodologie s.

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Criteria	Explanation	Commentary
		 Rena issance ha scomple te d a Pre -Fea sibility Study, the re sultsofwhicha re re porte d the rele ase da te d 27 July 2015.The PFS study include d me ta llurgica l,ge ote chnical a nd hydrologica l studie s.
Furthe rwork	 The na ture a nd sca le ofpla nne d furthe rwork (e g te stsforla tera l e xte nsionsorde pthextensionsorla rge -scale ste p-outdrilling).  Dia gra mscle a rly highlighting the a rea sofpossible exte nsions, including the mainge ologica l inte rpre ta tionsa nd future drilling a re a s,provide d thisinforma tionisnotcommercially sensitive.	 A de finitive fe a sibility study (DFS)iscurre ntly be ing comple ted.  Furthe rdrilling isbe ing unde rta ke na tthe O kva u De posit,including infill drilling a nd exte nsional drilling tote stla te ra l a nd de pthe xtensionsofthe knownmine ra lisa tion  Furthe rdrilling will be underta ke ntote stne w ta rge ts,a spotentia l isrecogniz e d.

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Appendix 4 - Material Terms of Farm-in and Joint Venture Agreement

The material terms of the Joint Venture are as follows;

• Emerald’s interest in the Joint Venture will be progressive, based on a combination of exploration expenditure and Definitive Feasibility Study (DFS) completion as shown below:

Cumulative Exploration Spend	DFS Status	Time	Emerald
(non DFS costs)			Interest
US$0.5 million	N/A	9 months	5%
US$2.5 million	N/A	24 months	30%
US$3.0 million	Completed	24 months	51%

• Completion of a DFS is to include the completion of an ESIA;

• Emerald will be the manager of the DFS. Renaissance and Emerald will be joint managers of the exploration program until such time that Emerald has earned its 51% interest. All Joint Venture decisions regarding development commitments and development expenditure will be subject to a 75% voting approval;

• Emerald may only withdraw from the Joint Venture after 6 months and spending a minimum of US$0.5 million. If Emerald elects to withdraw prior to completing a DFS and has earned a 30% interest, Renaissance can opt to dilute Emerald to a 10% interest by spending US$2 million. If either party dilutes to a 10% interest the other party may elect to convert that party’s interest to a 2% royalty;

• Provision for further opportunities secured by either party in Cambodia will form part of the Joint Venture;

• Customary mutual pre-emptive rights, expenditure and dilution formulas will apply.

Emerald and Renaissance have agreed the standard of DFS that Emerald is required to complete. This is based on a comprehensive criteria and to a level of accuracy that will be acceptable to bona-fide project financiers.

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Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Mining exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10

Name of entity

	Name of entity	Name of entity
	Emerald Resources NL
	ABN 009 795 046 Consolidated statement of cash flows
			30 June 2016
Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) Net Operating Cash Flows		Current quarter $A’000		Year to date (12 months) $A’000
		- (842) - - (199) - 91 - - -		- (991) - - (617) - 522 - - -
		(950)		(1,086)
Cash flows related to investing activities 1.8 Payment for purchases of: (a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (provide details if material) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)		- (417) - - - 1,112 - - -		- (3,251) - - - 1,216 - - -
		695		(2,035)
		(255)		(3,121)

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 1

Appendix 5B Mining exploration entity quarterly report

1.13	Total operating and investing cash flows
	(brought forward)	(255)	(3,121)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.	-	1
1.15	Proceeds from sale of forfeited shares	-	-
1.16	Proceeds from borrowings	-	-
1.17	Repayment of borrowings	-	-
1.18	Dividends paid	-	-
1.19	Other (costs of prospectus)	18	(280)
	Net financing cash flows	18	(279)
	Net increase (decrease) in cash held	(237)	(3,400)
1.20	Cash at beginning of quarter/year to date	14,766	17,929
1.21	Exchange rate adjustments to item 1.20	(14)	(14)
1.22	Cash at end ofquarter	14,515	14,515
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related
entities

			Current quarter
			$A'000
1.23		Aggregate amount of payments to the parties included in item 1.2	32
1.24		Aggregate amount of loans to the parties included in item 1.10	-
1.25		Explanation necessaryfor an understandingof the transactions
		The amount above includes payments to directors and to companies associated with the
		directors for this quarter.
Non-cash financing and investing activities
2.1	Details of financing and investing transactions which have had a material effect on
	consolidated assets and liabilities but did not involve cash flows
	N/A
2.2	Details of outlays made by other entities to establish or increase their share in projects in
	which the reportingentityhas an interest
	N/A

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
	Nil	Nil
	Nil	Nil

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	1,485
	-
	-
	180
Total	1,665

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter $A’000	Previous quarter $A’000
5.1 Cash on hand and at bank 5.2 Deposits at call 5.3 Bank overdraft 5.4 Other (provide details)	2,195	1,946
	12,320	12,820
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	14,515	14,766

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note (2))	Interest at beginning ofquarter	Interest at end of quarter
	N/A
	N/A

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Total number	Number quoted	Issue price per security (see note3) (cents)	Amount paid up per security (see note 3) (cents)
7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions	N/A
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital,buy-backs	1,306,594,114	1,306,594,114
	-	-	-	-
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted	N/A
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	20,000,000	-	Exercise Price $0.025	Expiry Date 21 January 2020
	-
	-
	-
7.11 Debentures (totals only)	N/A
7.12 Unsecured notes (totals only)	N/A

• See chapter 19 for defined terms.

Appendix 5B Page 4

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Appendix 5B Mining exploration entity quarterly report

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).

• 2 This statement does give a true and fair view of the matters disclosed.

MARK CLEMENTS Company Secretary

29 July 2016

Notes

• 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

• 2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of inte2ests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage intere9t in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

• 4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

• See chapter 19 for defined terms.

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