FireFly Metals Ltd. — Interim / Quarterly Report 2014

Apr 27, 2014

Exploration Office Unit 2 81 Harrison Road Dudley Park SA 5008

ABN: 96 110 336 733

Tel: +61 8 8245 4900 Fax: +61 8 8245 4999 www.monaxmining.com.au

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For immediate release 28 April 2014

Monax Mining Limited Quarterly Report For the quarter ended 31 March 2014

HIGHLIGHTS

• Millers Creek Designated Project (Copper-Gold) –

• Monax completes detailed gravity survey over four target areas at Millers Creek.

• Iron-oxide copper-gold (IOCG) target identified at Oliffes Dam.

• Detailed heli-borne magnetic survey over Oliffes Dam target completed post end of the quarter.

• Monax | Antofagasta Strategic Alliance (Copper) –

• Alliance continues to review potential copper projects in South Australia.

• Kangaroo Island Project (Silver-Lead-Zinc) –

• Detailed ground gravity survey completed.

• Significant gravity anomaly identified along strike from Bonaventura Zn-Pb prospect.

•

Phar Lap Project (Copper-Gold) –

• Phar Lap tenement transferred 100% to Monax.

• Monax has received Deed of Access from Woomera Prohibited Area Coordination Office (WPACO) and transfer of Indigenous Land Use Agreement (ILUA) allowing exploration to commence.

Quarterly report for the period ending 31 March 2014 ~ 1 ~

Corporate

In the three months to 31 March 2014, Monax Mining Limited (“Monax”) (ASX:MOX) focussed exploration on its South Australian copper projects in partnership with a wholly owned subsidiary of Antofagasta plc (“Antofagasta”) and the Company’s 100% owned Kangaroo Island project.

Monax Alliance applied for a new tenement within the Musgrave Province in SA’s Far North to add to the three existing tenement applications.

During the quarter, Monax and Marmota Energy Limited (“Marmota”) (ASX:MEU) executed a Sale and Purchase Agreement, which involved a combination of the transfer of tenement ownership and mineral rights between the two companies across their South Australian holdings.

As part of the transaction, Monax secured the transfer of all ownership and mineral rights relating to the highly promising Phar Lap tenement (EL 5123) from Marmosa Pty Ltd (a wholly-owned subsidiary of Marmota), which includes the assignment of 75% of the rights to Phar Lap’s uranium.

In return for the Phar Lap transfer, Monax has assigned to Marmosa/Marmota:

• Its 50% interest in the Ambrosia Joint Venture;

• its mineral rights for the Mulyungarie tenement (EL 5124); and

• 50% of its interest in the Melton Joint Venture.

As at 31 March 2014, Monax had a cash balance of $850,000. During the quarter $360,000 was spent on exploration.

Exploration

South Australian projects

Monax has eight South Australian projects (Figure 1).

1. Punt Hill – copper-gold (farm-in with Antofagasta).

2. Monax | Antofagasta Strategic Alliance (includes Millers Creek Designated Project).

3. Waddikee – graphite, manganese and iron.

4. Phar Lap – copper-gold.

5. Yorke Peninsula – copper-gold (includes Melton JV with Marmota Energy).

6. Western Gawler Craton – nickel-copper.

7. Reedy Lagoon – copper-gold (term sheet signed with FMG Resources Pty Ltd).

8. Kangaroo Island – silver-lead-zinc

Quarterly report for the period ending 31 March 2014 ~ 2 ~

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Figure 1. Location of Monax’s projects.

Quarterly report for the period ending 31 March 2014

~ 3 ~

Punt Hill Project – copper-gold (Monax 100%; Antofagasta earning 51%)

The Punt Hill Project is located within the highly prospective Olympic IOCG Province on the eastern margin of the Gawler Craton in northern South Australia. This province is host to the world class Olympic Dam mine and the Prominent Hill mine, as well as the Carrapateena and Hillside deposits.

The Punt Hill Project is subject to a farm-in agreement with a wholly-owned subsidiary of major Chilean copper producer Antofagasta. Monax announced post the end of the quarter that Antofagasta has earned 51% equity in the Project by providing funding which exceeds the US$4 million Phase One Earn-In.

Monax and Antofagasta have approved the next phase of exploration which will include detailed ground gravity surveys over two areas followed by drilling at two targets (Groundhog and Bottle Hill). The gravity surveys are expected to commence in the current quarter with drilling planned for the next quarter.

Monax | Antofagasta Strategic Alliance – copper

Monax continues to review potential copper projects within South Australia. Due to the current poor market conditions, a number of tenements have been relinquished, providing opportunities for the Alliance.

Millers Creek Designated Project

During the previous quarter, Monax announced the establishment of a Designated Project (“Millers Creek DP”) with its Strategic Alliance partner, Antofagasta, via its wholly-owned subsidiary, Monax Alliance Pty Ltd (“Alliance”).

The Millers Creek DP comprises three Alliance tenements together with four ASX-Listed Maximus Resources (ASX:MXR) tenements located within the Woomera Prohibited Area (WPA) in northern South Australia, totalling 3165km[2] (Figure 1).

During the quarter, a detailed gravity survey was completed. The survey comprised 2616 new gravity stations over four priority areas. Review of the data revealed several potential IOCG targets.

Based on the new gravity data, one area was selected for a detailed heli-borne magnetic survey, which was completed post the end of the quarter. Modelling of the magnetic and the recently acquired detailed gravity data is currently being undertaken, after which the results will be presented to the Monax:Antofagasta Technical Committee for a decision to drill.

Alliance Projects

Currently, Alliance has two projects under review (see Figure 1) at:

1. Kangaroo Island, and

2. Musgrave.

Kangaroo Island Project

During the quarter Alliance completed a detailed gravity survey over an interpreted geophysical target. The data is currently being interpreted.

Quarterly report for the period ending 31 March 2014 ~ 4 ~

Musgrave Project

During the quarter, Alliance increased its project landholding with the addition of one new Exploration Licence Application (ELA 2014/00043) within the tightly-held Musgrave Province, located in South Australia’s Far North (Figure 1).

Alliance now has four tenement applications within the Musgrave Province covering an area totalling 4206km[2 ] (see Figure 1). Alliance will be targeting copper and copper-nickel deposits.

The two abovementioned projects are still at early stages of evaluation by Alliance and have not yet been approved as Designated Projects by Antofagasta.

Kangaroo Island Project – silver-lead-zinc (Monax 100%)

During the March quarter, Monax undertook a detailed gravity survey on EL 4581 (Parndana) as part of a regional survey, which included the adjacent Alliance tenement. The gravity survey outlined a significant gravity anomaly along strike from the Bonaventura prospect.

The Bonaventura prospect is located at the flexure within the Cygnet-Snelling Shear Zone (CS-SZ), a prominent east-west trending crustal scale structure (Figure 2). The CS-SZ is the interpreted southern margin of the Gawler Craton, and is marked by a clear zone of low magnetic intensity.

Mineralisation at Bonaventura comprises NNE trending zones of coarse sphalerite (zinc sulphide) and galena (lead sulphide) bearing quartz vein stockworks and disseminations within a silicified sandstone host rock (Figure 3). Exploration to date has focused around historical workings and near surface mineralisation.

Drilling by the former SA Department of Mines and Energy in 1990 reported several encouraging intersections of mineralisation in the Bonaventura area including:

• 16m (10-26) @ 2.69% Zn, 0.45% Pb & 1.7 g/t Ag including 5m (16-21) @ 5.8% Zn (Hole GRA 7).

(This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. Note: all lengths are downhole lengths; true width unknown).

Exploration by ASX-listed Havilah Resources at Bonaventura in 2003 involved a shallow drilling program which produced further encouraging results including:

• 7m (14-21) @ 1.32% Zn, 3.16% Pb & 3.81 g/t Ag including 2m (16-18) @ 3.59% Zn, 9.46% Pb & 10 g/t Ag (Hole PRC01),

• 18m (30-48) @ 1.69% Zn & 1.81 g/t Ag including 6m (42-48) @ 3.48% Zn, 0.51% Pb & 1.4 g/t Ag (Hole PRC04), and

• 5m (26-31) @ 26.9% Zn, 10% Pb & 1.54 g/t Ag (Hole PRC31).

(This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. Note: all lengths are downhole lengths; true width unknown).

Quarterly report for the period ending 31 March 2014 ~ 5 ~

Monax undertook drilling programs in 2006 and 2008 aimed at understanding the structural setting to better target high-grade zones (see ASX Release 27 March 2014 for drill hole details). Significant intersections from the 2006 drilling program include:

• 6m (52-58) @ 1.96% Zn & 0.26% Pb including 2m (54-56) @ 3.65% Zn (Hole BVRC02),

• 4m (16-20) @ 2.06% Zn & 2.15% Pb (Hole BVRC03),

• 16m (34-50) @ 3.43% Zn & 0.66% Pb including 6m (40-46) @ 6.3% Zn (Hole BVRC03),

• 23m (62-85) @ 1.16% Zn (Hole BVRC08 – ended in mineralisation),

• 1m (56-57) @ 3.3% Zn & 4.58% Pb (Hole BVRC10),

• 4m (91-95) @ 3.94% Zn including 1m (93-94) @ 7.1% Zn (Hole BVRC10),

• 23m (98-121) @ 1.22% Zn (Hole BVRC10 – ended in mineralisation); and

• 1m (76-77) @ 2.31% Zn & 1.09% Pb (Hole BVRC11).

(This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported – see Monax ASX Release 24 July 2006 for details. Note: all lengths are downhole lengths; true width unknown).

• Significant intersections from Monax’s 2008 drilling program include:

• 29.9m (16.1-46) @ 1.79% Zn including 10m (27-37) @ 3.22% Zn, 1.62% Pb & 1.53 g/t Ag; and 3.9m (16.1-20) @ 2.13% Pb & 2.04 g/t Ag (Hole BVDD004)

• 10m (81-91) @ 2.13% Zn, 0.45% Pb & 0.83 g/t Ag including 6m (85-91) @ 2.97% Zn , 0.65% Pb & 1.08 g/t Ag (Hole BVDD007),

• 12m (94-106) @ 2.59% Zn including 5m (97-102) @ 4.0% Zn (Hole BVDD007), and

• 11m (58-69) @ 1.64% Zn & 1.2% Pb including 2m (61-63) @ 6.96% Zn, 5.06% Pb & 2.5 g/t Ag (Hole BVDD008).

(Note: all lengths are downhole lengths; true width unknown. Full results are presented in ASX Release 27 March 2014)).

The gravity survey identified a significant anomaly ~1km to the southeast of the known Bonaventura prospect (Figure 4). Previous gravity data collected by Monax in 2006, at 1km station spacing (dark blue dots) failed to recognise this feature. The recent 500m spaced infill survey alluded to the anomaly, which was subsequently in-filled to 250m gravity station spacing for robust data processing and inversion modelling.

The gravity anomaly is coincident with a zone of intense magnetic low situated in the core of the CS-SZ (Figure 5). This low magnetic response is consistent with the Zn-Pb mineralisation style and host rocks at the adjacent Bonaventura.

Processing and inversion modelling of the gravity anomaly delineated a discrete, 1km long dense body (3.1 g/cc), striking 120 degrees with potential south-easterly plunge at approximately 300m depth (Figure 6).

The gravity response at the Bonaventura prospect is less intense and located on the edge of the main anomaly. The Bonaventura prospect may be a surface expression and leakage of mineralisation through fractures and conduits from a larger mineral system at depth.

Quarterly report for the period ending 31 March 2014 ~ 6 ~

Monax is planning to undertake an Induced Polarisation (IP) survey across the anomaly to determine whether there is an associated co-incident chargeability anomaly. A successful result will give the company a high degree of confidence to drill test the target.

The gravity data improves the prospectivity of the area in that many large stratiform silverlead-zinc deposits are intimately linked to large regional structures and the structures are considered to play important roles in the formation of these deposits.

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Figure 2. Monax’s Parndana project location showing the Bonaventura prospect (drill holes - yellow dots) and Cygnet-Snelling Shear Zone. Background – Total Magnetic Intensity (residual1000).

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Figure 3. Example of mineralisation from drill core at the Bonaventura prospect. Drill hole BVDD005 125.8 – 126.1m. Sphalerite (orange coloured mineral), Galena (grey) and quartz veining in a silicified sandstone host rock. This section is from a 2m interval which assayed 4.19% Zn, 2.94% Pb and 3.9g/t Ag.

Quarterly report for the period ending 31 March 2014 ~ 7 ~

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Figure 4. Residual Bouguer Gravity anomaly identified ~1km SE of Bonaventura. (dark blue dots – 2006 1km gravity data, light blue dots – 2014 gravity data).

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Figure 5. Total Magnetic Intensity data showing the outline of the gravity anomaly in yellow. (High resolution 25m line spaced Helimag data).

Quarterly report for the period ending 31 March 2014 ~ 8 ~

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Figure 6. 3D Inversion Model showing the core of the gravity anomaly (Red) within the demagnetised CS-SZ (Blue – magnetics) and location and projection of previous diamond drill holes at Bonaventura (Grid - 5km).

Phar Lap Project – copper-gold

(Monax 100%)

During the quarter, Monax acquired a 100% interest in the Phar Lap tenement. EL 5123 (Phar Lap) is located approximately 60km WNW of Prominent Hill on the southwestern margin of the Mt Woods Inlier in South Australia. Previous gravity and magnetic surveys outlined two potential IOCG targets.

Monax has received its Deed of Access for the tenement from the Woomera Prohibited Area Coordination Office (WPACO) and the indigenous land-use agreement (ILUA) was transferred from Marmosa Pty Ltd to Monax, allowing Monax to commence exploration.

Monax is planning a detailed gravity survey over the two targets to refine the gravity model and provide a better drilling solution. This work is planned for the current quarter.

Other Projects

No work was undertaken on Monax’s other projects during the March quarter.

For further information please contact:

Gary Ferris Managing Director Monax Mining Ph: (08) 8245 4900 Email: info@monaxmining.com.au

Quarterly report for the period ending 31 March 2014 ~ 9 ~

‘The information in the Quarterly Report that relates to Exploration Results, Mineral Resources, Ore Reserves or targets is based on information compiled by Mr G M Ferris, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Ferris is employed full time by the Company as Managing Director and, has a minimum of five years relevant experience in the style of mineralisation and type of deposit under consideration and qualifies 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 Ferris consents to the inclusion of the information in this report in the form and context in which it appears.’

Tenement Holdings as of 31 March 2014

During the quarter, Monax Alliance applied for ELA 2014/00043 while Monax and Marmota Energy Limited (and its wholly owned subsidiary Marmosa Pty Ltd) undertook a tenement swap arrangement, whereby Monax acquired a 100% interest in the Phar Lap tenement (EL 5123) and Monax transferred its interest in Ambrosia and Mulyungarie tenements to Marmota. As part of the transaction Monax decreased its interest in the Melton Joint Venture from 50% to 25%. Below is a table of Monax Mining Limited’s and Monax Alliance Pty Ltd’s current tenement holdings as of 31 March, 2014.

Monax Mining Limited

Tenement	No.	Status	Monax Interest	Details	Tenure holder
Punt Hill	EL 4642	Granted	100%	JV with Antofagasta	Monax Mining
Yeltacowie	EL 4548	Granted	100%	JV with Antofagasta	Monax Mining
Whittata	EL 4994	Granted	100%	JV with Antofagasta	Monax Mining
Waddikee	EL 4662	Granted	100%		Monax Mining
Melton	EL 5122	Granted	25% of all minerals	JV with Marmota Energy	Marmosa P/L*
North Melton	EL 5209	Granted	25% of all minerals	JV with Marmota Energy	Marmota Energy
Webling Bay	EL 5128	Granted	100%		Monax Mining
Western River	EL 5312	Granted	100%		Monax Mining
Western River Cove	EL 4530	Granted	100%		Monax Mining
Parndana	EL 4581	Granted	100%		Monax Mining
Phar Lap	EL 5123	Granted	100%		Monax Mining
Nullarbor	EL 5077	Granted	100%		Monax Alliance P/L
North Yalata	EL 5199	Granted	100%		Monax Alliance P/L
East Yalata	EL 5200	Granted	100%		Monax Alliance P/L

* Marmosa Pty Ltd (a wholly-owned subsidiary of Marmota).

Quarterly report for the period ending 31 March 2014 ~ 10 ~

Monax Alliance Pty Ltd

Tenement	No.	Status	Monax Interest	Details	Tenure holder
Douglas Creek	EL 5094	Granted	Monax 49%; Antofagasta 51%	JV with Antofagasta	Monax Alliance P/L
Old Umbum	EL 4990	Granted	Monax 49%; Antofagasta 51%	JV with Antofagasta	Monax Alliance P/L
Parndana	EL 5353	Granted	100%		Monax Alliance P/L
West Parndana	EL 5176	Granted	100%		Monax Alliance P/L
Hunts Bore	EL 5259	Granted	100%		Monax Alliance P/L
Dermody Bore	EL 5316	Granted	100%		Monax Alliance P/L
Margaret Dam	EL 5347	Granted	100%		Monax Alliance P/L
Kulitjara	ELA 2013/168	Application	100%		Monax Alliance P/L
Anmuryinna	ELA 2013/169	Application	100%		Monax Alliance P/L
Poole Hill	ELA 2013/170	Application	100%		Monax Alliance P/L
Amata	ELA 2014/43	Application	100%		Monax Alliance P/L

Quarterly report for the period ending 31 March 2014 ~ 11 ~

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of entity

	Monax Mining Limited	Monax Mining Limited
	ABN 96 110 336 733 Consolidated statement of cash flows
			31 March 2014
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) Cash call contributions under JV agreements Other Net Operating Cash Flows		Current quarter $A’000		Year to date ( 9 months) $A’000
		- (360) - - (152) - 6 - - - 18		- (1,016) - - (613) - 22 - - 473 45
		(488)		(1,089)
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)		- - - - 50 - (4) - -		- (2) (14) - 386 - (4) 116 -
		46		482
		(442)		(607)

• See chapter 19 for defined terms.

Appendix 5B Page 1

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Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(442)	(607)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 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 (provide details if material) Costs from issue of shares, options etc. Net financing cash flows	- - - - - -	118 - - - - (36)
	-	82
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end ofquarter	(442) 1,292 -	(525) 1,375 -
	850	850

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
		152
		-
1.25	Explanation necessaryfor an understandingof the transactions
	The amount at 1.23 above represents non executive directors’ fees and executive director’s salary (including SGC superannuation), legal fees paid to a legal firm in which a director is a partner, contributions to Joint Venture expenditure made to a related party and service fee payments to an associated entity. The amount at 1.24 above represents costs to be recovered in relation to shared facilities from a related entity and provision of exploration management services.

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

• 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

• See chapter 19 for defined terms.

Appendix 5B Page 2

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Appendix 5B Mining exploration entity quarterly report

Marmota Energy Limited pursuant to the Farm-In and Joint Venture Agreements for EL 4510 (formerly EL 3358), EL 5124 (formerly EL 3910), EL 5122 (formerly EL 3911) and EL 5209 (formerly EL 4000) has incurred on an accruals basis $10,412 in the quarter ending 31 March 2014.

Antofagasta Minerals S.A. pursuant to the Farm-In Option Agreement – Punt Hill Project for EL 4642 and EL 4548 has incurred on an accruals basis $42,786 in the quarter ending 31 March 2014.

Monax Alliance Pty Ltd on behalf of Monax Mining Limited and Antofagasta Minerals Adelaide Pty Ltd has incurred on an accruals basis approximately $110k for the Millers Creek Designated Project (EL 4463, EL 5259, EL 5347, EL 5316, EL 4899, EL 4898, EL 4854).

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
	-	-
	-	-

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	400
	-
	-
	150
Total	550

Reconciliation of cash

Total Reconciliation of cash	Total Reconciliation of cash				550
Reconciliation of cash at the end of the quarter (as		Current quarter		Previous quarter
shown	in the consolidated statement of cash	$A’000		$A’000
flows)	to the related items in the accounts is as
follows.
5.1	Cash on hand and at bank		233		675
5.2	Deposits at call		615		615
5.3	Bank overdraft		-		-
5.4	Other (provide details)		2		2
	Total: cash at end of quarter(item 1.22)		850		1,292

• See chapter 19 for defined terms.

Appendix 5B Page 3

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Appendix 5B Mining exploration entity quarterly report

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
	EL 4510 EL 5124 EL 5122 and EL 5209	Transfer Transfer Transfer	50% 75% uranium 100% other minerals 50%	0% 0% 25%
	ELA 2014/00043 EL 5123	Application Transfer	0% 0%	100% 100%

• 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 note3) (cents)
7.1 Preference +securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs	154,147,257	154,147,257
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	425,000 225,000 325,000	Nil Nil Nil	Exercise Price $0.0917 $0.051 $0.053	Expiry Date 05/03/2015 28/07/2016 23/07/2017
7.11 Debentures (totals only)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

7.12 Unsecured notes (totals only)

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 4).

• 2 This statement does / ~~does not~~ * (delete one) give a true and fair view of the matters disclosed.

Sign here: ..................... Date: ....28/04/2013....... ( ~~Director~~ /Company secretary)

Print name: Virginia Suttell

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 interests 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 interest 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 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.

5 Accounting Standards ASX will accept, for example, the use of International Accounting 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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