FOCUS MINERALS LTD — Interim / Quarterly Report 2016

Oct 30, 2016

Quarterly Activities Report To 30 Sept 2016

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ASX ANNOUNCEMENT

31 Oct 2016

Focus Minerals Ltd Activities and Cashflow Report for September Quarter 2016

Exploration Highlights During the Quarter

During the September Quarter, Focus Minerals Ltd (“Focus” or the “Company”) was able to restart drilling at Laverton and has received strong results from its Coolgardie drilling. Exploration is ongoing with two drill rigs at Laverton and another at Coolgardie.

Focus was pleased to be able increase its Bonnie Vale Mineral Resource to 195,000 ounces on 28 October 2016. Work is continuing on this highly prospective deposit.

Coolgardie Gold Project

During the quarter, 73 holes were drilled, consisting 14,441m of reverse circulation (RC) and 966.8m of diamond core (DD). Details of these activities, including the significant intercepts, were released to the ASX on 22 September 2016.

Bonnie Vale

During the quarter, 35 holes were completed for 9,484m of RC at Bonnie Vale. The program was designed to explore the north-westerly extensions of the high-grade mineralised reefs defined during 2014 and 2015 drilling campaigns. Drill results from Bonnie Vale were very encouraging and included:

• BONC134: 2m @ 45.63g/t Au from 91m and 1m @ 23.9g/t Au from 146m and 1m @ 58.70g/t Au from 230m

• BONC136: 2m @ 22.25g/t Au from 203m

• BONC142: 3m @ 11.75g/t Au from 57m and 1m @ 8.59g/t Au from 70m and 2m @ 4.84g/t Au from 204m

• BONC146: 2m @ 4.21g/t Au from 52m and 3m @ 15.11g/t Au from 250

• BONC153: 3m @ 25.07g/t Au from 268m

• BONC158: 4m @ 9.60g/t Au from 214m

• BONC159: 2m @ 7.81g/t Au from 264m

The Bonnie Vale Mineral Resource has been updated (see ASX October 28, 2016). The new estimate is substantially larger at 821,000 tonnes @ 7.4g/t Au for 195,000 ounces of contained gold, comprising:

• Indicated Resource: 474kt at 9.1 g/t Au for 139,000 contained ounces

• Inferred Resource: 347kt at 5.0 g/t Au for 56,000 contained ounces

• Total Mineral Resource: 821kt at 7.4 g/t Au for 195,000 contained ounces

Greater Tindals District

In the Greater Tindals District, 36 RC holes for 4,957m and two DD holes for 966.8m were completed during the Quarter. The projects drilled in Greater Tindals District include Possum, Brilliant, Garden Gully and Tindals West. Significant results released to the ASX on 22 September 2016 include:

Quarterly Activities Report To 30 Sept 2016

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Brilliant

• TND16032: (diamond tail) 0.92m @ 4.95g/t Au from 276.46m

• TND16034: (diamond tail) 3.58m @ 5.75g/t Au from 302m

• TND16090: 5m @ 3.87g/ Au from 135m

• TND16091: 1m @ 4.12g/t Au from 146m and 1m @ 4.55g/t Au from 151m

• TND16092: 4m @ 2.75g/t Au from 182m and 2m @ 3.99g/t Au from 196m

Possum

• TND16066: 0.7m @ 11.35g/t Au from 301.75m in hole

Garden Gully and Tindals West

• TND16075: 1m @ 8.29g/t Au from 63m and 1m @ 10.75g/t Au from 70m and 1m @ 12.05g/t Au from 204m

Current Work

Drilling at Coolgardie is ongoing and is anticipated to continue for the remainder of the year. The main focus will be the RC infill drilling at Possum, follow-up RC drilling testing conceptual targets identified from the 2D seismic survey completed earlier this year and a regional exploration program throughout the Coolgardie area.

Laverton Gold Project

Drilling recommenced at the Karridale Project towards the end of August 2016. Seven RC holes for 1,634m were completed by the end of September 2016.

RC drilling was suspended in April due to difficult ground and abnormally wet weather conditions restricting equipment access. The Company revised the drilling plan and now is estimated to drill 42 RC holes for approximate 11,000m by the end of 2016.

As with the earlier RC drill program, the current phase is designed to:

• Resolve gold grade plunge distribution down dip from Karridale;

• Resolve gold grade distribution around the Boomerang mine;

• Confirm gold grade continuity between the Karridale and Boomerang sites; and

• Pick up the near surface positions of intermediate gold zones that are interpreted to sit between Karridale and Boomerang.

As previously announced (ASX 29 April 2016), drilling to date has confirmed that gold mineralisation at Karridale is primarily associated with multiple, stacked, shear zones, flatly dipping to the northwest. Also, the deeper mineralisation under Karridale appears to be the down dip extension of mineralisation of the Boomerang mine some 600m to the southeast.

Drilling at Karridale is expected to continue for the rest of the year.

2

Quarterly Activities Report To 30 Sept 2016

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Cash Position at End of September Quarter

Focus remains in a strong financial position with $66.4M in cash and equivalents at 30 September 2016 (30 June $69.5M).

2016 (30 June $69.5M).
Cash at Bank and Deposits	$50.3M
Cash held onbond	$16.1M
**Total Cash and Equivalents **	$66.4M

Tenements held at 30 September 2016

	Laverton Gold Project
Tenement Description	Tenement Number	Percentage Interest
BARRICK	E38/1642	100
BARRICK	E38/1725	100
BARRICK	E38/2032	100
BARRICK	L38/0092	100
BARRICK	L38/0101	100
BARRICK	M38/0037	100
BARRICK	M38/0038	100
BARRICK	M38/0049	100
BARRICK	M38/0101	100
BARRICK	M38/0159	100
BARRICK	M38/0342	100
BARRICK	M38/0363	100
BARRICK	M38/0364	100
BARRICK	M38/0535	100
BARRICK	M38/0693	100
BARRICK	P38/3500	100
BARRICK	P38/3501	100
BARRICK	P38/3667	100
BARRICK	P38/3671	100
BLACK SWAN JV	E38/1869	100
BLACKSWANJV	P38/3608	100
BURTVILLE	E38/3050	100
BURTVILLE	E38/3051	100
BURTVILLE	E38/3088	100
BURTVILLE	G38/0033	100
CENTRAL LAVERTON	E38/1349	100
CENTRAL LAVERTON	E38/1861	100
CENTRAL LAVERTON	E38/1864	100
CENTRAL LAVERTON	E38/2143	100
CENTRAL LAVERTON	G38/0020	100
CENTRAL LAVERTON	M38/0264	100
CENTRAL LAVERTON	M38/0318	100
CENTRAL LAVERTON	M38/0376	100
CENTRAL LAVERTON	M38/0377	100
CENTRAL LAVERTON	M38/0387	100
CENTRAL LAVERTON	M38/0401	100
CENTRAL LAVERTON	M38/0507	100

3

Quarterly Activities Report To 30 Sept 2016

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CENTRAL LAVERTON	M38/1032	100
CENTRAL LAVERTON	M38/1042	100
CENTRAL LAVERTON	P38/3691	100
CENTRAL LAVERTON	P38/3692	100
EAST LAVERTON	M38/0008	100
EAST LAVERTON	M38/0261	100
EAST LAVERTON	P38/3611	100
EAST LAVERTON	P38/3612	100
INFRASTRUCTURE	G38/0024	100
INFRASTRUCTURE	G38/0025	100
INFRASTRUCTURE	L38/0034	100
INFRASTRUCTURE	L38/0052	100
INFRASTRUCTURE	L38/0053	100
INFRASTRUCTURE	L38/0054	100
INFRASTRUCTURE	L38/0055	100
INFRASTRUCTURE	L38/0056	100
INFRASTRUCTURE	L38/0057	100
INFRASTRUCTURE	L38/0063	100
INFRASTRUCTURE	L38/0075	100
INFRASTRUCTURE	L38/0076	100
INFRASTRUCTURE	L38/0078	100
INFRASTRUCTURE	L38/0108	100
INFRASTRUCTURE	L38/0120	100
INFRASTRUCTURE	L38/0152	100
INFRASTRUCTURE	L38/0153	100
INFRASTRUCTURE	L38/0160	100
INFRASTRUCTURE	L38/0163	100
INFRASTRUCTURE	L38/0164	100
INFRASTRUCTURE	L38/0165	100
INFRASTRUCTURE	L38/0166	100
INFRASTRUCTURE	L38/0173	100
INFRASTRUCTURE	L38/0177	100
INFRASTRUCTURE	L38/0179	100
INFRASTRUCTURE	L38/0183	100
INFRASTRUCTURE	L39/0124	100
INFRASTRUCTURE	L39/0214	100
JASPER HILLS	M39/0138	100
JASPER HILLS	M39/0139	100
JASPER HILLS	M39/0185	100
JASPER HILLS	M39/0262	100
LAVERTON	L38/0231	100
LAVERTON	P38/4091	100
LAVERTON	P38/4099	100
LAVERTON	P38/4100	100
LAVERTON	P38/4102	100
LAVERTON	P38/4163	100
LAVERTON-MONEY	M38/0547	100
MEROLIA JV	M38/0073	91
MEROLIA JV	M38/0089	91
MT WELD	E38/2862	100
MT WELD	E38/2872	100
MT WELD	E38/2873	100
WATER	GWL154255	100
WATER	GWL160209	100
WATER	GWL160210	100

4

Quarterly Activities Report To 30 Sept 2016

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WATER	GWL160685	100
WATER	GWL172290	100
WEST LAVERTON	M38/0143	100
WEST LAVERTON	M38/0236	100
WEST LAVERTON	M38/0270	100
WEST LAVERTON	M38/0345	100
WEST LAVERTON	M38/1187	100

	Coolgardie Gold Project
Tenement Description	Tenement Number	Percentage Interest
BAYLEYS	G15/0007	100
BAYLEYS	M15/0630	100
BAYLEYS	M15/1433	100
BAYLEYS	M15/1788	100
BAYLEYS	P15/4912	100
BAYLEYS	P15/5717	100
BONNIE VALE	M15/0277	100
BONNIE VALE	M15/0365	100
BONNIE VALE	M15/0595	100
BONNIE VALE	M15/0662	100
BONNIE VALE	M15/0711	100
BONNIE VALE	M15/0770	100
BONNIE VALE	M15/0852	100
BONNIE VALE	M15/0857	100
BONNIE VALE	M15/0877	100
BONNIE VALE	M15/0981	100
BONNIE VALE	M15/1384	100
BONNIE VALE	M15/1444	100
BONNIE VALE	M15/1760	100
BONNIE VALE	P15/5155	100
BONNIE VALE	P15/5156	100
BONNIE VALE	P15/5158	100
BONNIE VALE	P15/5159	100
BONNIE VALE	P15/5190	100
BONNIE VALE	P15/5238	100
BONNIE VALE	P15/5253	100
BONNIE VALE	P15/5254	100
BONNIE VALE	P15/5255	100
BONNIE VALE	P15/5713	100
BONNIE VALE	P15/5714	100
BURBANKS	P15/5939	0 (Under Application)
BURBANKS	P15/6027	0 (Under Application)
BURBANKS	P15/6102	0 (Under Application)
COOLGARDIE	P15/5946	100
COOLGARDIE	P15/5949	100
COOLGARDIE	P15/5987	100
COOLGARDIE	P15/5995	100
COOLGARDIE	P15/6002	100
COOLGARDIE	P15/6006	100
COOLGARDIE	P15/6033	0 (Under Application)
GUNGA	M15/1341	100
GUNGA	M15/1357	100
GUNGA	M15/1358	100

5

Quarterly Activities Report To 30 Sept 2016

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GUNGA	M15/1359	100
GUNGA	P15/5256	100
GUNGA	P15/5702	0 (Under Application)
GUNGA	P15/5703	0 (Under Application)
GUNGA	P15/5704	0 (Under Application)
LAKE COWAN	E15/0986	100
LONDONDERRY	P15/5969	100
LONDONDERRY	P15/5970	100
LONDONDERRY	P15/5963	0 (Under Application)
LONDONDERRY	P15/5964	0 (Under Application)
LONDONDERRY	P15/5965	0 (Under Application)
LONDONDERRY	P15/5966	0 (Under Application)
LONDONDERRY	P15/5967	0 (Under Application)
LONDONDERRY	P15/5968	0 (Under Application)
LONDONDERRY	P15/5971	0 (Under Application)
LONDONDERRY	P15/5972	0 (Under Application)
LONDONDERRY	P15/6064	0 (Under Application)
LORD BOB	M15/0385	100
LORD BOB	M15/0664	100
LORD BOB	M15/1789	100
LORD BOB	P15/4829	100
LORD BOB	P15/4956	100
LORD BOB	P15/5550	100
LORD BOB	P15/5712	0 (Under Application)
LORD BOB	P15/5731	100
LORD BOB	P15/5733	100
LORD BOB	P15/5735	100
LORD BOB	P15/5712	100
ML-BAYLEYS	L15/0034	100
ML-BAYLEYS	L15/0122	100
ML-BAYLEYS	L15/0161	100
ML-BAYLEYS	L15/0164	100
ML - BAYLEYS	L15/0186	100
ML-BONNIEVALE	L15/0126	100
ML-BONNIEVALE	L15/0127	100
ML - BONNIEVALE	L15/0130	100
ML-BONNIEVALE	L15/0200	100
ML - BONNIEVALE	L15/0211	100
ML-GUNGA	L15/0088	100
ML -GUNGA	L15/0090	100
ML-GUNGA	L15/0095	100
ML-GUNGA	L15/0096	100
ML-GUNGA	L15/0114	100
ML-GUNGA	L15/0116	100
ML -GUNGA	L15/0119	100
ML-GUNGA	L15/0283	100
ML - LORD BOB	L15/0051	100
ML-LORD BOB	L15/0059	100
ML-LORD BOB	L15/0063	100
ML - LORD BOB	L15/0077	100
ML-LORD BOB	L15/0078	100
ML - NEPEAN	L15/0027	100
ML-NEPEAN	L15/0028	100
ML - NEPEAN	L15/0179	100
ML - NEPEAN	L15/0193	100

6

Quarterly Activities Report To 30 Sept 2016

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ML-NEPEAN	L15/0194	100
ML-NEPEAN	L15/0294	100
ML - NORRIS	L15/0071	100
ML-NORRIS	L15/0168	100
ML - NORRIS	L15/0169	100
ML-NORRIS	L15/0170	100
ML - NORRIS	L15/0171	100
ML-NORRIS	L15/0172	100
ML-NORRIS	L15/0173	100
ML - NORRIS	L15/0174	100
ML-NORRIS	L15/0175	100
ML - THREE MILE HILL	L15/0042	100
ML-THREE MILE HILL	L15/0123	100
ML - THREE MILE HILL	L15/0177	100
NEPEAN	M15/0709	100
NEPEAN	M15/1809	100
NEPEAN	P15/5519	100
NEPEAN	P15/5574	100
NEPEAN	P15/5575	100
NEPEAN	P15/5576	100
NEPEAN	P15/5625	100
NEPEAN	P15/5626	100
NEPEAN	P15/5629	100
NEPEAN	P15/5738	100
NEPEAN	P15/5739	100
NEPEAN	P15/5740	100
NEPEAN	P15/5741	100
NEPEAN	P15/5742	100
NEPEAN	P15/5743	100
NEPEAN	P15/5749	100
NEPEAN	P15/5750	100
NORRIS	M15/0384	100
NORRIS	M15/0391	100
NORRIS	M15/0515	100
NORRIS	M15/0761	100
NORRIS	M15/0791	100
NORRIS	M15/0871	100
NORRIS	M15/1153	100
NORRIS	M15/1422	100
NORRIS	M15/1793	100
NORRIS	P15/5241	100
NORRIS	P15/5522	100
NORRIS	P15/5527	100
NORRIS	P15/5528	100
NORRIS	P15/5729	100
NORRIS	P15/5730	100
NORRIS	P15/5732	100
NORRIS	P15/5734	100
NORRIS	P15/5736	100
NORRIS	P15/5756	100
NORRIS	P15/5807	100
THREE MILE HILL	M15/0150	100
THREE MILE HILL	M15/0154	100
THREE MILE HILL	M15/0636	100
THREE MILE HILL	M15/0645	100

7

Quarterly Activities Report To 30 Sept 2016

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THREE MILE HILL	M15/0781	100
THREE MILE HILL	M15/0827	100
THREE MILE HILL	M15/1432	100
THREE MILE HILL	M15/1434	100
THREE MILE HILL	P15/4913	100
THREE MILE HILL	P15/4926	100
TINDALS	M15/0023	100
TINDALS	M15/0237	100
TINDALS	M15/0410	100
TINDALS	M15/0411	100
TINDALS	M15/0412	100
TINDALS	M15/0646	100
TINDALS	M15/0660	100
TINDALS	M15/0675	100
TINDALS	M15/0958	100
TINDALS	M15/0966	100
TINDALS	M15/1114	100
TINDALS	M15/1262	100
TINDALS	M15/1293	100
TINDALS	M15/1294	100
TINDALS	M15/1461	100
TINDALS	P15/4933	100
TINDALS	P15/4934	100
TINDALS	P15/4935	100
TINDALS	P15/4941	100
TINDALS	P15/4943	100
TINDALS	P15/4945	100
TINDALS	P15/4947	100
TINDALS	P15/5046	100
TINDALS	P15/5048	100
TINDALS	P15/5464	100
WATER	GWL160936	100
WATER	GWL166606	100

8

Quarterly Activities Report To 30 Sept 2016

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For further information please contact:

Dane Etheridge Company Secretary and GM Business Development Focus Minerals Ltd Phone: +61 8 9215 7888

Focus Minerals Limited - Focus owns two large gold projects in Western Australia’s Eastern Goldfields. The company is the largest landholder in the Coolgardie Gold Belt, where it owns the 1.2Mtpa processing plant at Three Mile Hill. Located 250km to the northeast, Focus has the Laverton Gold Project which comprises a significant portfolio of highly prospective tenure. Focus also owns the 1.45Mtpa Barnicoat mill in Laverton which has been on care and maintenance since 2009.

Forward Looking Statements

This release contains certain “forward looking statements”. Forward-looking statements can be identified by the use of ‘forward-looking’ terminology, including, without limitation, the terms ‘believes’, ‘estimates’, ‘anticipates’, ‘expects’, ‘predicts’, ‘intends’, ‘plans’, ‘propose’, ‘goals’, ‘targets’, ‘aims’, ‘outlook’, ‘guidance’, ‘forecasts’, ‘may’, ‘will’, ‘would’, ‘could’ or ‘should’ or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future, assumptions which may or may not prove correct, and may be beyond Focus’ ability to control or predict which may cause the actual results or performance of Focus to be materially different from the results or performance expressed or implied by such forward-looking statements. Forward-looking statements are based on assumptions and contingencies and are not guarantees or predictions of future performance. No representation is made that any of these statements or forecasts will come to pass or that any forecast result will be achieved. Similarly, no representation is given that the assumptions upon which forward-looking statements may be based are reasonable. Forward-looking statements speak only as at the date of this document and Focus disclaims any obligations or undertakings to release any update of, or revisions to, any forward-looking statements in this document.

Competent Person’s Statement

The information in this announcement that relates to Exploration Results is based on information compiled by Michael Guo (GM Exploration and Geology) who is a member of the Association of Professional Geoscientists of Ontario, Canada, which is a Recognised Professional Organisation (RPO). Mr Guo is employed by Focus Minerals Limited and has sufficient experience that 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 Guo consents to the inclusion in this announcement of the matters based on the information compiled by him in the form and context in which it appears.

END QUARTERLY ACTIVITY STATEMENT

9

Appendix 5B Mining exploration entity and oil and gas exploration entity Quarterly report

+Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas 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, 01/05/13, 01/09/16

Name of entity

Name of entity
FocusMineralsLimited
ABN 56 005470799	Quarter ended (“current quarter”)
	September30,2016
Consolidated statement of cash flows	Current quarter $A’000	Year to date (nine months) $A’000
1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) staff costs (e) administration and corporate costs (f) MRF 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Research and development refunds 1.8 Other (provide details if material) (a) Leasing 1.9 Net cash from / (used in) operating activities	- (2,105) - - (293) (233) (643) - 81 (1) 77	- (6,032) - - (829) (1,320) (643) - 1,204 (111) - - - 165
	(3,117)	(7,566)
2. Cash flows from investing activities 2.1 Payments to acquire: (a) property, plant and equipment (b) tenements (see item 10) (c) investments (d) other non-current assets	(7) - - -	(20) - - -

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Consolidated statement of cash flows	Current quarter $A’000	Year to date (nine months) $A’000
2.2 Proceeds from the disposal of: (a) property, plant and equipment (b) tenements (see item 10) (c) investments (d) other non-current assets 2.3 Cash flows from loans to other entities 2.4 Dividends received (see note 3) 2.5 Other (provide details if material) 2.6 Net cash from / (used in) investing activities	- - 88 - - - -	- - 88 - - - -
	81	68
3. Cash flows from financing activities 3.1 Proceeds from issues of shares 3.2 Proceeds from issue of convertible notes 3.3 Proceeds from exercise of share options 3.4 Transaction costs related to issues of shares, convertible notes or options 3.5 Proceeds from borrowings 3.6 Repayment of borrowings 3.7 Transaction costs related to loans and borrowings 3.8 Dividends paid 3.9 Other (provide details if material) 3.10 Net cash from / (used in) financing activities	- - - - - - - - -	- - - - - - - - -
	-	-
4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 4.4 Net cash from / (used in) financing activities (item 3.10 above)	69,479 (3,117) 81 -	73,941 (7,566) 68 -

11

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Consolidated statement of cash flows	Current quarter $A’000	Year to date (nine months) $A’000
4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period
	66,443	66,443
5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts	Current quarter $A’000	Previous quarter $A’000
5.1 Bank balances 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other (provide details) 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)	50,337 16,106	53,373 16,106
	66,444	69,479
6. Payments to directors of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to these parties included in item 1.2 27 6.2 Aggregate amount of cash flow from loans to these parties included in item 2.3 6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2
		Current quarter $A'000
		27
Director remuneration and superannuation.

12

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

7. Payments to related entities of the entity and their Current quarter associates $A'000

7.1 Aggregate amount of payments to these parties included in item 1.2

7.2 Aggregate amount of cash flow from loans to these parties included in item 2.3

7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

8. Financing facilities available Add notes as necessary for an understanding of the position Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 8.1 Loan facilities 8.2 Credit standby arrangements 8.3 Other (please specify) 8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.	Total facility amount at quarter end $A’000	Amount drawn at quarter end $A’000

9. Estimated cash outflows for next quarter	$A’000
9.1 Exploration and evaluation 9.2 Development 9.3 Production 9.4 Staff costs 9.5 Administration and corporate costs 9.6 Other (provide details if material) 9.7 Total estimated cash outflows	2,300 - - 250 300 -
	2,850

13

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

10. Changes in tenements (items 2.1(b) and 2.2(b) above)	Tenement reference and location	Nature of interest	Interest at beginning of quarter	Interest at end of quarter
10.1 Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced	P15/4916 Kangaroo Hills P15/4917 Kangaroo Hills P15/4950 Kangaroo Hills P15/4951 Kangaroo Hills P15/4952 Kangaroo Hills P15/4953 Kangaroo Hills P38/3504 Mitchell Well P38/3505 Mitchell Well P38/3506 Mitchell Well	Surrendered Surrendered Surrendered Surrendered Surrendered Surrendered Surrendered Surrendered Surrendered	100% 100% 100% 100% 100% 100% 100% 100% 100%	0% 0% 0% 0% 0% 0% 0% 0% 0%
10.2 Interests in mining tenements and petroleum tenements acquired or increased	P15/6002 Gibraltar P15/6006 Kangaroo Hills	Granted Granted	0% 0%	100% 100%

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

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

Sign here: ............................................................ Date: 31 October 2016 Company secretary

Print name: Dane Etheridge

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 that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.

2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, 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. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

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