GOLDARC RESOURCES LIMITED — Merger & Acquisition 2017

Jan 5, 2017

TORIAN RESOURCES LIMITED

ACN 002 261 565

FIRST SUPPLEMENTARY BIDDER’S STATEMENT

1. IMPORTANT INFORMATION

This document is a supplementary bidder’s statement ( Supplementary Bidder’s Statement ) issued by Torian Resources Limited (ACN 002 261 565) ( TNR or the Company ) under section 643 of the Corporations Act 2001 (Cth) ( Corporations Act ) and is supplementary to the bidder’s statement dated and lodged with the Australian Securities and Investments Commission ( ASIC ) on 7 December 2016 ( Original Bidder’s Statement ) in relation to the off-market takeover offer by the Company for all of the fully paid ordinary shares in the capital of Cascade Resources Limited (ACN 128 744 178) ( Cascade ) ( Takeover Offer ).

This Supplementary Bidder’s Statement was lodged with ASIC on 5 January 2017. Neither ASIC nor its any of its officers takes any responsibility for the contents of this Supplementary Bidder’s Statement.

This Supplementary Bidder’s Statement must be read together with the Original Bidder’s Statement. If there is a conflict between the Original Bidder’s Statement and this Supplementary Bidder’s Statement, this Supplementary Bidder’s Statement will prevail. Unless the context otherwise requires, terms defined in the Original Bidder’s Statement have the same meaning in this Supplementary Bidder’s Statement.

Please consult your legal, financial or other professional adviser if you do not fully understand the contents of this Supplementary Bidder’s Statement.

A copy of this Supplementary Bidder’s Statement will be available on the Company’s website (www.torianresources.com.au).

2. ASIC MODIFICATION

As set out in Section 9.6.1 of the Original Bidder’s Statement, the Torian Shares issued as consideration to Cascade Shareholders under the Takeover Offer will, subject to receipt of an ASIC modification of Chapter 6 of the Act so that Torian does not obtain a relevant interest in its own securities ( Modification ), be subject to a voluntary escrow period of 12 months following the date of issue of the Torian Shares under the Takeover Offer.

Torian confirms that ASIC has granted the Modification and, as such, coluntary escrow will apply to the Torian Shares issued to Cascade Shareholders as consideration under the Takeover Offer.

3. AMENDMENTS TO THE ORIGINAL BIDDER’S STATEMENT

3.1 Section 6.3.1 of the Original Bidder’s Statement

The following additional information is inserted after Section 6.3.1(d) of the Original Bidder’s Statement:

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• “(e) Cascade does not currently have any employees. As such, it is Torian’s intention that following completion of the Takeover Offer Cascade’s business will continue to operate in the same manner as it did as at the date of the Takeover Offer.”

3.2 Annexure C of the Original Bidder’s Statement

Annexure C of the Original Bidder’s Statement be deleted and replaced with the revised Annexure C set out in the Schedule to this Supplementary Bidder’s Statement.

4. CONSENT

Kings Park Corporate Lawyers has prepared the Tenement Schedule set out in Annexure C to the Bidder’s Statement (as supplemented by the Supplementary Bidder’s Statement). King’s Park Corporate Lawyers has consented to the inclusion of the Tenement Schedule in this Supplementary Bidder’s Statement and to being named in this Supplementary Bidder’s Statement and has not withdrawn such consent prior to the lodgement of this Supplementary Bidder’s Statement with ASIC.

5. DIRECTOR’S AUTHORISATION

This Supplementary Bidder’s Statement has been approved by a resolution passed by the Directors of TNR.

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Signed for and on behalf of Torian Resources Limited Andrew Sparke Non-Executive Chairman

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1. QUALIFICATIONS

The following Tenement Schedule has been prepared by Kings Park Corporate Lawyers based on a tenement list ( Tenements ), provided by Torian as current as at 10 October 2016 and on the following qualifications.

For the purpose of the Tenement Schedule, we have conducted the following searches and enquiries:

• (a) searches of the Tenements in the mining tenement register ( DMP Register ) maintained by the Department of Mines and Petroleum of Western Australia ( DMP ) pursuant to the Mining Act 1978 (WA) and Mining Regulations 1981 (WA) ( Mining Act ) conducted on 14 November 2016; and

• (b) quick appraisal searches of the Tenements summarising information obtained online from the ‘TENGRAPH’ system maintained by the DMP conducted on 14, 15 and 16 November 2016.

Based on our searches and enquiries and subject to the assumptions and qualifications set out below, we confirm at the date of the searches that:

• (c) the details of the Tenements referred to in the Schedule are accurate as to the status and registered holders of those Tenements as at the date of the searches;

• (d) unless otherwise specified in the Tenement Schedule, the Tenements are in good standing and all applicable rents have been paid;

• (e) none of the Tenements are subject to any unusual conditions of a material nature other than as disclosed in the Tenement Schedule;

• (f) the statements as to third party interests, including encumbrances in relation to the Tenements, is based on information provided to us by Torian and Cascade as well as information ascertainable from our searches; and

• (g) subject to the obtaining of standard, administrative authorisations (which are normally applied for only at the time of finalising details of individual exploration plans), or as otherwise detailed in the Bidder’s Statement, there are no legal or regulatory impediments to Torian or Cascade undertaking exploration on the Tenements.

2. ASSUMPTIONS AND QUALIFICATIONS

In preparing the Tenement Schedule:

• (a) we have assumed the accuracy and completeness of results of the searches of the registers maintained by the DMP and other information obtained from and DMP;

• (b) we have assumed all contracts, agreements or arrangements have been supplied to us and were within the capacity and powers of, and were validly authorised, executed and delivered by and binding on each party to them, and where applicable, have been either stamped or, where unstamped, have been submitted for duty assessment and that duty will be paid in due course;

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• (c) where any agreement, dealing or act (including disturbing the land for exploration or mining) affecting the Tenements requires an authorisation, approval, permission or consent ( Authorisation ) under the Mining Act, or any other relevant legislation, we have assumed that Authorisation has been or will be granted in due course;

• (d) where any dealing in the Tenements has been lodged for registration but is not yet registered, we express no opinion as to whether the registration will be effected, or the consequences of non-registration;

• (e) we have assumed that both Torian and Cascade have complied with all applicable provisions of the Mining Act and all other legislation relating to the Tenements;

• (f) where Cascade and Torian’s interest in a Tenement is not registered on title and Torian or Cascade is earning an interest in such title, we have not undertaken any verification of expenditure by Torian or Cascade on individual Tenements or projects and have relied on Torian and Cascade’s advice as to the work it has undertaken and expenditure incurred to earn its interests;

• (g) we have not researched the underlying land tenure in respect of the Tenements to determine if native title rights have or have not been extinguished, or the extent of any extinguishment; and

• (h) we have not researched the area of the Tenements to determine if there are any registered or unregistered sites of significance to aboriginal people within the area.

The Tenement Schedule sets out a brief description of the Tenements and a summary of any encumbrances. In relation to the Tenement Schedule, we make the following comments:

• (i) references to the areas of the Tenements are taken from the details shown on the tenement searches, it is not possible to verify those areas without conducting a survey which has not been undertaken;

• (j) the area of the Tenements as shown in the Schedule might be reduced by the existence of pre-existing mining tenements situated within the boundaries of the relevant Tenement and a subsequent requirement that the area of the earlier mining tenement is excised from the grant of the Tenement; and

• (k) the rights of a holder of a mining tenement are subject to compliance by that holder with the terms and conditions under the relevant Mining Act and the conditions specifically set out in the grant of the Tenements.

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Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
Zuleika Project
E	24/	190	Bullabulling	Live	11	blocks	05-08-13	15-04-14	14-04-19	$20,000.00	$2,215.95	$431.37	1, 36, 38
M	16/	229	Strategic	Live	191	ha	29-11-1994	12-08-2008	11-08-2029	$19,100.00	$3,256.55	$3,162.48	36, 40
M	16/	491	Strategic 90% Millward 10%	Live	218	ha	7-12-2004	23-03-2011	22-03-2032	$21,800.00	$3,716.90	$3,003.02	36, 37, 40
M	26/	572	Strategic	Live	208	ha	30-07-1996	10-08-2009	9-08-2030	$20,800.00	$3,546.40	$3,150.13	36, 39
P	16/	2621	Zetek 50% Western 50%	Live	97	ha	12-05-09	15-03-10	14-03-18	$3,880.00	$242.50	$504.21	36, 41
P	16/	2622	Zetek 50% Western 50%	Live	198	ha	12-05-09	15-03-10	14-03-18	$7,920.00	$495.00	$600.45	36, 41
P	16/	2623	Zetek 50% Western 50%	Live	195	ha	12-05-09	15-03-10	14-03-18	$7,800.00	$487.50	$591.60	36, 41
P	16/	2837	Cascade	Live	153	ha	20-06-14	14-05-15	13-05-19	$6,120.00	$382.50	$494.97	1, 36
P	16/	2838	Cascade	Live	100	ha	20-06-14	06-03-15	05-03-19	$4,000.00	$250.00	$566.81	1, 36
P	16/	2839	Cascade	Live	159	ha	20-06-14	04-11-15	03-11-19	$6,360.00	$397.50	$175.08	1, 36
P	16/	2840	Cascade	Live	171	ha	20-06-14	06-03-15	05-03-19	$6,840.00	$427.50	$566.81	1, 36
P	16/	2841	Cascade	Live	122	ha	20-06-14	14-05-15	13-05-19	$4,880.00	$305.00	$494.97	1, 36
P	16/	2843	Cascade	Live	26	ha	20-06-14	06-03-15	05-03-19	$2,000.00	$65.00	$566.81	1, 36
P	16/	2844	Cascade	Live	112	ha	20-06-14	06-03-15	05-03-19	$4,480.00	$280.00	$566.81	1, 36
P	16/	2845	Cascade	Live	200	ha	20-06-14	09-01-15	08-01-19	$8,000.00	$500.00	$513.37	1, 36
P	16/	2846	Cascade	Live	188	ha	20-06-14	09-01-15	08-01-19	$7,520.00	$470.00	$484.37	1, 36
P	16/	2847	Cascade	Live	111	ha	20-06-14	09-01-15	08-01-19	$4,440.00	$277.50	$445.00	1, 36
P	16/	2848	Cascade	Live	111	ha	20-06-14	09-01-15	08-01-19	$4,440.00	$277.50	$445.00	1, 36
P	16/	2849	Cascade	Live	164	ha	20-06-14	06-03-15	05-03-19	$6,560.00	$410.00	$566.81	1, 36
P	16/	2850	Cascade	Live	121	ha	20-06-14	06-03-15	05-03-19	$4,840.00	$302.50	$566.81	1, 36

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Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
P	16/	2851	Cascade	Live	194	ha	20-06-14	06-03-15	05-03-19	$7,760.00	$485.00	$636.00	1, 36
P	16/	2852	Cascade	Live	200	ha	20-06-14	06-03-15	05-03-19	$8,000.00	$500.00	$654.87	1, 36
P	16/	2853	Cascade	Live	62	ha	20-06-14	06-03-15	05-03-19	$2,480.00	$155.00	$366.81	1, 36
P	16/	2854	Cascade	Live	179	ha	20-06-14	14-05-15	13-05-19	$7,160.00	$447.50	$514.52	1, 36
P	16/	2855	Cascade	Live	186	ha	20-06-14	14-05-15	13-05-19	$7,440.00	$465.00	$533.41	1, 36
P	16/	2856	Cascade	Live	200	ha	20-06-14	06-03-15	05-03-19	#8,000.00	#500.00	$526.00	1, 36
P	16/	2874	Cascade	Live	200	ha	28-08-14	25-08-15	24-08-19	$8,000.00	$500.00	$430.73	1, 36
P	16/	2875	Cascade	Live	199	ha	28-08-14	25-08-15	24-08-19	$7,960.00	$497.50	$428.63	1, 36
P	16/	2876	Cascade	Live	199	ha	28-08-14	25-08-15	24-08-19	$7,960.00	$497.50	$428.63	1, 36
P	16/	2877	Cascade	Live	200	ha	28-08-14	25-08-15	24-08-19	$8,000.00	$500.00	$430.73	1, 36
P	16/	2878	Cascade	Live	200	ha	28-08-14	25-08-15	24-08-19	$8,000.00	$500.00	$430.73	1, 36
P	16/	2879	Cascade	Live	4	ha	20-10-14	01-12-15	30-11-19	$2,000.00	$10.00	-	1, 36
P	16/	2880	Cascade	Live	8	ha	20-10-14	01-12-15	30-11-19	$2,000.00	$20.00	-	1, 36
P	16/	2881	Cascade	Live	7	ha	20-10-14	01-12-15	30-11-19	$2,000.00	$17.50	-	1, 36
P	16/	2882	Cascade	Live	121	ha	20-10-14	01-12-15	30-11-19	$4,840.00	$302.50	$517.89	1, 36
P	16/	2883	Cascade	Live	120	ha	20-10-14	01-12-15	30-11-19	$4,800.00	$300.00	$517.89	1, 36
P	16/	2884	Cascade	Live	165	ha	20-10-14	01-12-15	30-11-19	$6,600.00	$412.50	$517.89	1, 36
P	16/	2885	Cascade	Live	95	ha	20-10-14	01-12-15	30-11-19	$3,800.00	$237.50	$517.89	1, 36
P	16/	2886	Cascade	Live	120	ha	20-10-14	01-12-15	30-11-19	$4,800.00	$300.00	$517.89	1, 36
P	16/	2887	Cascade	Live	64	ha	20-10-14	01-12-15	30-11-19	$2,560.00	$160.00	$517.89	1, 36
P	16/	2896	Cascade	Live	160	ha	13-02-15	09-09-15	08-09-19	$6,400.00	$400.00	$515.05	1, 36
P	16/	2901	Cascade	Live	104	ha	20-10-14	09-09-15	08-09-19	$4,160.00	$260.00	$517.89	1, 36
P	16/	2902	Cascade	Live	79	ha	02-04-15	01-12-15	30-11-19	$3,160.00	$197.50	$366.81	1, 36
P	16/	2913	Cascade	Live	197	ha	02-09-15	11-04-16	10-04-20	$7,880.00	$492.50	$330.09	1, 36
P	16/	2914	Cascade	Live	200	ha	02-09-15	11-04-16	10-04-20	$8,000.00	$500.00	$330.09	1, 2, 36
P	16/	2915	Cascade	Live	199	ha	02-09-15	18-04-16	17-04-20	$7,960.00	$497.50	$324.98	1, 36

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Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
P	16/	2943	Torian	Pending	180	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2944	Torian	Pending	175	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2945	Torian	Pending	145	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2946	Torian	Pending	196	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2947	Torian	Pending	186	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2948	Torian	Pending	198	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2949	Torian	Pending	178	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2950	Torian	Pending	184	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2951	Torian	Pending	196	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2952	Torian	Pending	196	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2953	Torian	Pending	180	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2959	Torian	Pending	194	ha	15-04-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2960	Torian	Pending	200	ha	15-04-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2964	Torian	Pending	45.5	ha	04-05-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2965	Torian	Pending	194	ha	04-05-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2966	Torian	Pending	142	ha	04-05-16	N/A	N/A	Nil	N/A	N/A	36
P	16/	2967	Torian	Pending	70	ha	04-05-16	N/A	N/A	Nil	N/A	N/A	36
P	24/	4418	Zetek 50% Western 50%	Live	155	ha	10-12-08	19-10-09	18-10-17	$6,200.00	$387.50	$316.45	3, 36, 42
P	24/	4419	Zetek 50% Western 50%	Live	133	ha	10-12-08	19-10-09	18-10-17	$5,320.00	$332.50	$271.44	36, 42
P	24/	4420	Zetek 50% Western 50%	Live	150	ha	10-12-08	19-10-09	18-10-17	$6,000.00	$375.00	$306.20	36, 42
P	24/	4421	Zetek 50% Western 50%	Live	160	ha	10-12-08	19-10-09	18-10-17	$6,400.00	$400.00	$326.71	36, 42
P	24/	4422	Zetek 50% Western 50%	Live	131	ha	10-12-08	19-10-09	18-10-17	$5,240.00	$327.50	$267.45	36, 42

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Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
P	24/	4423	Zetek 50% Western 50%	Live	106	ha	10-12-08	19-10-09	18-10-17	$4,240.00	$265.00	$267.00	36, 42
P	24/	4424	Zetek 50% Western 50%	Live	104	ha	11-12-08	19-10-09	18-10-17	$4,160.00	$260.00	$267.00	36, 42
P	24/	4425	Zetek 50% Western 50%	Live	137	ha	11-12-08	19-10-09	18-10-17	$5,480.00	$342.50	$279.61	36, 42
P	24/	4426	Zetek 50% Western 50%	Live	128	ha	11-12-08	19-10-09	18-10-17	$5,120.00	$320.00	$267.00	36, 42
P	24/	4427	Zetek 50% Western 50%	Live	85	ha	11-12-08	19-10-09	18-10-17	$3,400.00	$212.50	$267.00	36, 42
P	24/	4428	Zetek 50% Western 50%	Live	120	ha	11-12-08	19-10-09	18-10-17	$4,800.00	$300.00	$267.00	36, 42
P	24/	4429	Zetek 50% Western 50%	Live	150	ha	11-12-08	19-10-09	18-10-17	$6,000.00	$375.00	$306.20	36, 42
P	24/	4468	Zetek 50% Western 50%	Live	46	ha	14-07-09	20-07-10	19-07-18	$2,000.00	$115.00	$267.00	36, 42
P	24/	4679	Stehn	Live	175	ha	17-09-12	28-03-13	27-03-17	$7,000.00	$437.50	$514.42	36, 38
P	24/	4749	Stehn	Live	9	ha	10-06-13	20-01-14	19-01-18	$2,000.00	$ 22.50	$-	1, 36, 38
P	24/	4827	Cascade	Live	192	ha	20-06-14	23-03-16	22-03-20	$7,680.00	$480.00	$267.00	1, 36
P	24/	4828	Cascade	Live	137	ha	20-06-14	23-03-16	22-03-20	$5,480.00	$342.50	$267.00	1, 36
P	24/	4829	Cascade	Live	158	ha	20-06-14	19-10-15	18-10-19	$6,320.00	$395.00	$306.20	1, 36
P	24/	4830	Cascade	Live	158	ha	20-06-14	19-10-15	18-10-19	$6,320.00	$395.00	$225.60	1, 36
P	24/	4831	Cascade	Live	179	ha	20-06-14	19-10-15	18-10-19	$7,160.00	$447.50	$255.62	1, 36
P	24/	4865	Cascade	Live	192	ha	20-10-14	25-08-15	24-08-19	$7,680.00	$480.00	$636.00	1, 36
P	24/	4866	Cascade	Live	200	ha	20-10-14	25-08-15	24-08-19	$8,000.00	$500.00	$654.87	1, 4, 36
P	24/	4867	Cascade	Live	200	ha	20-10-14	15-10-15	14-10-19	$8,000.00	$500.00	$654.87	1, 36
P	24/	4868	Cascade	Live	200	ha	20-10-14	25-08-15	24-08-19	$8,000.00	$500.00	$654.87	1, 36
P	24/	4869	Cascade	Live	176	ha	20-10-14	25-08-15	24-08-19	$7,040.00	$440.00	$514.52	1, 36

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Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
P	24/	4870	Cascade	Live	85	ha	20-10-14	25-08-15	24-08-19	$3,400.00	$212.50	$295.00	1, 36
P	24/	4871	Cascade	Live	48	ha	20-10-14	25-08-15	24-08-19	$2,000.00	$120.00	$295.00	1, 36
P	24/	4872	Cascade	Live	200	ha	20-10-14	25-08-15	24-08-19	$8,000.00	$500.00	$654.87	1, 36
P	24/	4873	Cascade	Live	200	ha	20-10-14	25-08-15	24-08-19	$8,000.00	$500.00	$654.87	1, 36
P	24/	4874	Cascade	Live	163	ha	20-10-14	25-08-15	24-08-19	$6,520.00	$407.50	$450.00	1, 36
P	24/	4917	Cascade	Live	183	ha	13-02-15	28-07-16	27-07-20	$7,320.00	$457.50	$378.29	1, 36
P	24/	4918	Cascade	Live	181	ha	13-02-15	28-07-16	27-07-20	$7,240.00	$452.50	$374.42	1, 36
P	24/	4919	Cascade	Live	185	ha	13-02-15	22-09-15	21-09-19	$7,400.00	$462.50	$419.51	1, 36
P	24/	4920	Cascade	Live	183	ha	13-02-15	22-09-15	21-09-19	$7,320.00	$457.50	$415.00	1, 36
P	24/	4921	Cascade	Live	193	ha	13-02-15	22-09-15	21-09-19	$7,720.00	$482.50	$437.44	1, 36
P	24/	4922	Cascade	Live	194	ha	13-02-15	22-09-15	21-09-19	$7,760.00	$485.00	$439.00	1, 36
P	24/	4923	Cascade	Live	198	ha	13-02-15	22-09-15	21-09-19	$7,920.00	$495.00	$448.68	1, 36
P	24/	4925	Cascade	Live	184	ha	19-02-15	22-09-15	21-09-19	$7,360.00	$460.00	$417.36	1, 36
P	24/	4926	Cascade	Live	196	ha	19-02-15	22-09-15	21-09-19	$7,840.00	$490.00	$444.18	1, 36
P	24/	4927	Cascade	Live	197	ha	19-02-15	22-09-15	21-09-19	$7,880.00	$492.50	$446.36	1, 36
P	24/	4928	Cascade	Live	199	ha	19-02-15	22-09-15	21-09-19	$7,960.00	$497.50	$451.01	1, 36
P	24/	4929	Cascade	Live	66	ha	19-02-15	22-09-15	21-09-19	$2,640.00	$165.00	$292.79	1, 36
P	24/	4930	Cascade	Live	189	ha	19-02-15	22-09-15	21-09-19	$7,560.00	$472.50	$428.38	1, 36
P	24/	4931	Cascade	Live	200	ha	19-02-15	22-09-15	21-09-19	$8,000.00	$500.00	$453.16	1, 36
P	24/	4932	Cascade	Live	190	ha	19-02-15	07-04-16	06-04-20	$7,600.00	$475.00	$306.80	1, 36
P	24/	4933	Cascade	Live	196	ha	19-02-15	22-09-15	21-09-19	$7,840.00	$490.00	$444.18	1, 5, 36
P	24/	4934	Cascade	Live	196	ha	19-02-15	22-09-15	21-09-19	$7,840.00	$490.00	$444.18	1, 36
P	24/	4935	Cascade	Live	148	ha	19-02-15	22-09-15	21-09-19	$5,920.00	$370.00	$336.71	1, 36
P	24/	4936	Cascade	Live	193	ha	19-02-15	22-09-15	21-09-19	$7,720.00	$482.50	$437.52	1, 6, 36
P	24/	4937	Cascade	Live	113	ha	19-02-15	22-09-15	21-09-19	$4,520.00	$282.50	$292.79	1, 36
P	24/	4938	Cascade	Live	187	ha	19-02-15	22-09-15	21-09-19	$7,480.00	$467.50	$424.03	1, 6, 36

9

Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
P	24/	4939	Cascade	Live	194	ha	19-02-15	22-09-15	21-09-19	$7,760.00	$485.00	$292.79	1, 36
P	24/	4940	Cascade	Live	199	ha	19-02-15	22-09-15	21-09-19	$7,960.00	$497.50	$451.01	1, 36
P	24/	4996	Cascade	Live	86	ha	18-09-15	06-09-16	05-09-20	$3,440.00	$215.00	$295.00	1, 7, 36
P	24/	5013	Cascade	Live	182	ha	16-11-15	11-07-16	10-07-20	$7,280.00	$455.00	$263.58	1, 36
P	24/	5078	Torian	Pending	180	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
P	24/	5079	Torian	Pending	122	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
P	24/	5080	Torian	Pending	134	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
P	24/	5081	Torian	Pending	175	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	36
Bardoc Project
P	24/	4471	Zetek 50% Western 50%	Live	125	ha	14-08-09	20-07-10	19-07-18	$5,000.00	$312.50	$279.24	43
P	24/	4487	Zetek 50% Western 50%	Live	122	ha	08-12-09	20-07-10	19-07-18	$4,880.00	$305.00	$272.53	43
P	24/	4512	Zetek 50% Western 50%	Live	52	ha	08-04-10	31-03-11	30-03-19	$2,080.00	$130.00	$271.00	8, 9, 43
P	24/	4583	Zetek 50% Western 50%	Live	10	ha	19-01-11	15-11-11	14-11-19	$2,000.00	$ 25.00	$-	10, 43
P	24/	4998	Zetek	Live	117	ha	27-10-15	07-07-16	06-07-20	$4,680.00	$292.50	$292.79	1, 45
P	24/	5089	Torian	Pending	152	ha	14-03-16	N/A	N/A	Nil	N/A	N/A
P	24/	5090	Torian	Pending	146	ha	14-03-16	N/A	N/A	Nil	N/A	N/A
P	24/	5091	Torian	Pending	164	ha	14-03-16	N/A	N/A	Nil	N/A	N/A
P	24/	5092	Torian	Pending	183	ha	14-03-16	N/A	N/A	Nil	N/A	N/A
P	24/	5093	Torian	Pending	196	ha	14-03-16	N/A	N/A	Nil	N/A	N/A
P	24/	5103	Torian	Pending	39	ha	20-05-16	N/A	N/A	Nil	N/A	N/A
P	24/	5104	Torian	Pending	4.6	ha	20-05-16	N/A	N/A	Nil	N/A	N/A
P	24/	5105	Torian	Pending	33.4	ha	20-05-16	N/A	N/A	Nil	N/A	N/A

10

Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
Boorara
		Project
P	26/	4209	Torian	Pending	199	ha	18-07-16	N/A	N/A	Nil	N/A	N/A
P	26/	4210	Torian	Pending	121	ha	18-07-16	N/A	N/A	Nil	N/A	N/A	11
P	26/	4211	Torian	Pending	114	ha	18-07-16	N/A	N/A	Nil	N/A	N/A	11
P	26/	4212	Torian	Pending	120	ha	18-07-16	N/A	N/A	Nil	N/A	N/A	11
P	26/	4213	Torian	Pending	116	ha	18-07-16	N/A	N/A	Nil	N/A	N/A	11
P	26/	4214	Torian	Pending	169	ha	18-07-16	N/A	N/A	Nil	N/A	N/A	11
P	26/	4215	Torian	Pending	114	ha	18-07-16	N/A	N/A	Nil	N/A	N/A	11
P	26/	4216	Torian	Pending	167	ha	18-07-16	N/A	N/A	Nil	N/A	N/A
P	26/	4217	Torian	Pending	188	ha	18-07-16	N/A	N/A	Nil	N/A	N/A
P	26/	4218	Torian	Pending	119	ha	18-07-16	N/A	N/A	Nil	N/A	N/A
P	26/	4219	Torian	Pending	77	ha	18-07-16	N/A	N/A	Nil	N/A	N/A
Malcolm Project
M	37/	475	Dixon	Live	120	ha	06-07-94	07-11-94	06-11-36	$ 12,000.00	$ 2,046.00	$ 1,209.00	44, 58
P	37/	7094	Drylands Pty Ltd	Live	200	ha	23-01-07	23-10-08	22-10-16	$8,000.00	$500.00	$281.60	44, 57, 58
P	37/	7095	Drylands Pty Ltd	Live	185	ha	23-01-07	23-10-08	22-10-16	$7,400.00	$462.50	$267.00	44, 57, 58
P	37/	7096	Drylands Pty Ltd	Live	200	ha	23-01-07	23-10-08	22-10-16	$8,000.00	$500.00	$281.60	44, 57, 58
P	37/	7097	Drylands Pty Ltd	Live	170	ha	23-01-07	23-10-08	22-10-16	$6,800.00	$425.00	$267.00	44, 57, 58
P	37/	7098	Drylands Pty Ltd	Live	195	ha	23-01-07	23-10-08	22-10-16	$7,800.00	$487.50	$274.56	44, 57, 58
P	37/	7099	Drylands Pty Ltd	Live	200	ha	23-01-07	23-10-08	22-10-16	$8,000.00	$500.00	$281.60	44, 57, 58
P	37/	7103	Dixon	Live	120	ha	24-01-07	19-11-08	18-11-16	$4,800.00	$300.00	$267.00	44, 57, 58
P	37/	7104	Dixon	Live	120	ha	24-01-07	19-11-08	18-11-16	$4,800.00	$300.00	$267.00	44, 57, 58
P	37/	7105	Dixon	Live	85	ha	24-01-07	19-11-08	18-11-16	$3,400.00	$212.50	$267.00	44, 57, 58

11

Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
P	37/	7567	Dixon 70% Crew (R) 30%	Live	200	ha	09-11-07	30-12-08	29-12-16	$8,000.00	$500.00	$281.60	44, 58
P	37/	7568	Dixon 70% Crew (R) 30%	Live	200	ha	09-11-07	30-12-08	29-12-16	$8,000.00	$500.00	$281.60	44, 58
P	37/	7569	Dixon 70% Crew (R) 30%	Live	150	ha	09-11-07	30-12-08	29-12-16	$6,000.00	$375.00	$267.00	44, 58
P	37/	7570	Dixon 70% Crew (R) 30%	Live	188	ha	09-11-07	30-12-08	29-12-16	$7,520.00	$470.00	$267.00	44, 58
P	37/	7571	Dixon 70% Crew (R) 30%	Live	175	ha	09-11-07	30-12-08	29-12-16	$7,000.00	$437.50	$267.00	44, 58
P	37/	7572	Dixon 70% Crew (R) 30%	Live	185	ha	09-11-07	30-12-08	29-12-16	$7,400.00	$462.50	$267.00	44, 28
P	37/	7573	Dixon 70% Crew (R) 30%	Live	175	ha	09-11-07	30-12-08	29-12-16	$7,000.00	$437.50	$267.00	44, 58
P	37/	7574	Dixon 70% Crew (R) 30%	Live	200	ha	09-11-07	30-12-08	29-12-16	$8,000.00	$500.00	$281.60	44, 58
P	37/	7575	Dixon 70% Crew (R) 30%	Live	200	ha	09-11-07	30-12-08	29-12-16	$8,000.00	$500.00	$281.60	44, 58
P	37/	8116	Kazoo	Live	10	ha	05-10-11	04-09-12	03-09-16	$2,000.00	$ 25.00	$-	1, 12, 29, 55, 58
P	37/	8523	Kazoo	Live	200	ha	03-01-14	09-06-15	08-06-19	$8,000.00	$500.00	$281.60	1, 13, 55, 58
P	37/	8524	Kazoo	Live	200	ha	03-01-14	09-06-15	08-06-19	$8,000.00	$500.00	$281.60	1, 13, 55, 58
P	37/	8745	Torian	Pending	152	ha	01-08-16	N/A	N/A	Nil	N/A	N/A
P	37/	8746	Torian	Pending	179	ha	01-08-16	N/A	N/A	Nil	N/A	N/A
P	37/	8747	Torian	Pending	182	ha	01-08-16	N/A	N/A	Nil	N/A	N/A
P	37/	8748	Torian	Pending	116	ha	01-08-16	N/A	N/A	Nil	N/A	N/A
P	37/	8754	Torian	Pending	74	ha	01-08-16	N/A	N/A	Nil	N/A	N/A
Mt
	George Project

12

Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
P	37/	7101	Dixon	Live	135	ha	24-01-07	19-11-08	18-11-16	$5,400.00	$337.50	$267.00	14, 46, 57, 58
P	37/	7102	Dixon	Live	90	ha	24-01-07	19-11-08	18-11-16	$3,600.00	$225.00	$267.00	15, 46, 57, 58
P	37/	8195	Kazoo	Live	102	ha	16-02-12	05-10-12	04-10-16	$4,080.00	$255.00	$295.00	1, 15, 29, 46, 52, 58
P	37/	8225	Kazoo	Live	191	ha	20-04-12	16-11-12	15-11-16	$7,640.00	$477.50	$318.65	1, 15, 29, 46, 52, 58
P	37/	8226	Kazoo	Live	191	ha	20-04-12	16-11-12	15-11-16	$7,640.00	$477.50	$318.65	1, 15, 29, 46, 52, 58
P	37/	8227	Kazoo	Live	190	ha	20-04-12	04-12-12	03-12-16	$7,600.00	$475.00	$316.94	1, 15, 46, 52, 58
P	37/	8648	Stehn	Live	98.3	ha	01-02-16	30-08-16	29-08-20	$3,960.00	$247.50	$254.03	1, 56, 58
P	37/	8662	Stehn	Live	153	ha	22-02-16	09-09-16	08-09-20	$6,120.00	$382.50	$245.70	1, 15, 56, 58
Mt
	Stirling Well Project
P	37/	7172	Dixon 50% Scarfe 50%	Live	30	ha	29-01-07	20-06-08	19-06-16	$2,000.00	$ 75.00	$267.00	30, 58, 60
M	37/	1305	Dixon 50% Scarfe 50%	Pending	31	ha	17-06-16	N/A	N/A	Nil	N/A	N/A	16, 58, 60
Mt
	Stirling/Cutmore Project
P	37/	7033	McKnight 50% Crew (R) 50%	Live	29	ha	15-09-06	22-09-08	21-09-16	$2,000.00	$ 72.50	$250.00	31, 49, 58
P	37/	7238	Crew (R)	Live	72	ha	02-02-07	30-10-08	29-10-16	$2,880.00	$180.00	$250.00	32, 49, 58
P	37/	7239	Crew (C) 50% Crew (R) 50%	Live	13	ha	02-02-07	30-10-08	29-10-16	$2,000.00	$ 32.50	$250.00	33, 49, 58
P	37/	7319	Crew (C) 50% Crew (R) 50%	Live	188	ha	07-02-07	30-10-08	29-10-16	$7,520.00	$470.00	$330.05	49, 57, 58

13

Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
P	37/	7320	Crew (C) 50% Crew (R) 50%	Live	185	ha	07-02-07	30-10-08	29-10-16	$7,400.00	$462.50	$324.79	47, 57, 58
P	37/	7321	Crew (C) 50% Crew (R) 50%	Live	193	ha	07-02-07	30-10-08	29-10-16	$7,720.00	$482.50	$338.90	49, 57, 58
P	37/	7322	Crew (C) 50% Crew (R) 50%	Live	192	ha	07-02-07	30-10-08	29-10-16	$7,680.00	$480.00	$337.08	49, 57, 58
P	37/	7489	McKnight 50% Crew (R) 50%	Live	110	ha	08-05-07	18-11-08	17-11-16	$4,400.00	$275.00	$328.00	47, 57, 58
P	37/	7490	McKnight 50% Crew (R) 50%	Live	96	ha	08-05-07	18-11-08	17-11-16	$3,840.00	$240.00	$328.00	49, 57, 58
P	37/	7491	McKnight 50% Crew (R) 50%	Live	105	ha	08-05-07	18-11-08	17-11-16	$4,200.00	$262.50	$328.00	49, 57, 58
P	37/	7949	McKnight 30% Biggs 30% Williams 20% Crew (R) 20%	Live	182	ha	10-06-10	01-06-11	31-05-19	$7,280.00	$455.00	$269.06	35, 50, 58
P	37/	8240	McKnight 50% Crew (R) 50%	Live	166	ha	24-05-12	27-12-12	26-12-16	$6,640.00	$415.00	$319.00	1, 34, 49, 58
P	37/	8241	McKnight 50% Crew (R) 50%	Live	120	ha	24-05-12	27-12-12	26-12-16	$4,800.00	$300.00	$319.00	1, 49, 58
P	37/	8242	McKnight 50% Crew (R) 50%	Live	172	ha	24-05-12	27-12-12	26-12-16	$6,880.00	$430.00	$319.00	1, 49, 58
P	37/	8243	McKnight 50% Crew (R) 50%	Live	167	ha	24-05-12	27-12-12	26-12-16	$6,680.00	$417.50	$319.00	1, 49, 58
P	37/	8646	Stehn	Live	116	ha	01-02-16	30-08-16	29-08-20	$4,640.00	$290.00	$254.03	1, 17, 47, 58
P	37/	8647	Stehn	Live	114.000	ha	01-02-16	30-08-16	29-08-20	$4,560.00	$285.00	$254.03	1, 47, 58
M	37/	1306	McKnight 30% Biggs 30% Williams 20% Crew (R) 20%	Pending	180	ha	17-06-16				N/A	N/A	16, 50, 58

14

Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
M	37/	1307	McKnight 50% Crew (R) 50%	Pending	166	ha	17-06-16	N/A	N/A	Nil	N/A	N/A	49, 58
M	37/	1311	Crew (C) 50% Crew (R) 50%	Pending	13	ha	16-09-16	N/A	N/A	Nil	N/A	N/A	16, 49, 58
M	37/	1312	Crew (R)	Pending	72	ha	16-09-16	N/A	N/A	Nil	N/A	N/A	16, 49, 58
M	37/	1313	McKnight 50% Crew (R) 50%	Pending	20	ha	16-09-16	N/A	N/A	Nil	N/A	N/A	16, 49, 58
Mt
	Stewart Project
P	37/	8073	Sullivan	Live	120	ha	29-04-11	13-06-12	12-06-20	$4,800.00	$300.00	$279.69	1, 18, 53, 58
P	37/	8074	Sullivan	Live	120	ha	29-04-11	02-05-13	01-05-17	$4,800.00	$300.00	$279.69	1, 53, 58
P	37/	8075	Sullivan	Live	120	ha	29-04-11	02-05-13	01-05-17	$4,800.00	$300.00	$279.69	1, 53, 58
P	37/	8623	Stehn	Live	105	ha	24-12-15	13-07-16	12-07-20	$4,200.00	$262.50	$294.01	1, 19, 58, 59
P	37/	8624	Stehn	Live	71	ha	24-12-15	13-07-16	12-07-20	$2,840.00	$177.50	$294.01	1, 58, 59
P	37/	8626	Stehn	Live	119	ha	24-12-15	13-07-16	12-07-20	$4,760.00	$297.50	$294.01	1, 18, 58, 59
P	37/	8627	Stehn	Live	118	ha	24-12-15	13-07-16	12-07-20	$4,720.00	$295.00	$294.01	1, 17, 19, 58, 59
P	37/	8630	Stehn	Live	122	ha	24-12-15	13-07-16	12-07-20	$4,880.00	$305.00	$294.01	1, 18, 19, 58, 59
P	37/	8631	Stehn	Live	122	ha	24-12-15	13-07-16	12-07-20	$4,880.00	$305.00	$294.01	1, 58, 59
P	37/	8632	Stehn	Live	122	ha	24-12-15	13-07-16	12-07-20	$4,880.00	$305.00	$294.01	1, 58, 59
Pig Well Project
P	37/	8649	Stehn	Live	148	ha	01-02-16	30-08-16	29-08-20	$5,920.00	$370.00	$254.03	1, 48, 58
P	37/	8651	Stehn	Live	193	ha	01-02-16	30-08-16	29-08-20	$7,720.00	$482.50	$254.03	1, 48, 58
P	37/	8659	Stehn	Live	194	ha	22-02-16	09-09-16	08-09-20	$7,760.00	$485.00	$275.27	1, 48, 58
P	37/	8660	Stehn	Live	132	ha	22-02-16	09-09-16	08-09-20	$5,280.00	$330.00	$245.70	1, 48, 58
P	37/	8661	Stehn	Live	193	ha	22-02-16	09-09-16	08-09-20	$7,720.00	$482.50	$273.85	1, 48, 58

15

Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
P	37/	8664	Stehn	Live	177	ha	22-02-16	09-09-16	08-09-20	$7,080.00	$442.50	$251.15	1, 48, 58
P	37/	8665	Stehn	Live	155	ha	22-02-16	09-09-16	08-09-20	$6,200.00	$387.50	$245.70	1, 48, 58
Rabbit Warren South Project
P	37/	8650	Stehn	Live	116	ha	01-02-16	30-08-16	29-08-20	$4,640.00	$290.00	$254.03	1, 51
P	37/	8652	Stehn	Live	196	ha	01-02-16	30-08-16	29-08-20	$7,840.00	$490.00	$254.03	1, 51
P	37/	8653	Stehn	Live	113	ha	01-02-16	30-08-16	29-08-20	$4,520.00	$282.50	$254.03	1, 51
P	37/	8663	Stehn	Pending	122	ha	22-02-16	N/A	N/A	Nil	N/A	N/A	51
Kanowna South
			Project
P	27/	2261	Torian	Pending	144	ha	18-07-16	N/A	N/A	Nil	N/A	N/A
P	26/	4011	Cascade	Live	200	ha	28-08-14	08-07-15	07-07-19	$8,000	$500.00	$400.57	1
P	26/	4012	Cascade	Live	23	ha	28-08-14	08-07-15	07-07-19	$2,000	$ 57.50	$261.89	1
P	26/	4013	Cascade	Live	193	ha	28-08-14	08-07-15	07-07-19	$7,720	$482.50	$386.43	1
P	27/	2202	Cascade	Live	180	ha	28-08-14	08-07-15	07-07-19	$7,200	$450.00	$360.51	1
P	27/	2203	Cascade	Live	182	ha	28-08-14	08-07-15	07-07-19	$7,280	$455.00	$364.43	1
Gibraltar South Project
P	15/	6074	Torian	Pending	173	ha	03-08-16	N/A	N/A	Nil	N/A	N/A
P	15/	6075	Torian	Pending	126	ha	03-08-16	N/A	N/A	Nil	N/A	N/A	20
P	15/	6076	Torian	Pending	192	ha	03-08-16	N/A	N/A	Nil	N/A	N/A	20
P	15/	6077	Torian	Pending	109	ha	03-08-16	N/A	N/A	Nil	N/A	N/A	20
P	15/	6078	Torian	Pending	199	ha	03-08-16	N/A	N/A	Nil	N/A	N/A
Calypso
		Project
P	37/	8791	Torian	Pending	151	ha	07-10-16	N/A	N/A	Nil	N/A	N/A

16

Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
P	37/	8792	Torian	Pending	160	ha	07-10-16	N/A	N/A	Nil	N/A	N/A
P	37/	8793	Torian	Pending	164	ha	07-10-16	N/A	N/A	Nil	N/A	N/A
Mt
	Korong Project
P	39/	5570	Torian	Pending	186	ha	09-10-15	N/A	N/A	Nil	N/A	N/A	21
P	39/	5571	Torian	Pending	116	ha	09-10-15	N/A	N/A	Nil	N/A	N/A	21
P	39/	5572	Torian	Pending	162	ha	09-10-15	N/A	N/A	Nil	N/A	N/A	21
Mt
	Kieth	Project
M	53/	490	Photios	Live	589	ha	06-06-96	11-06-04	10-06-25	$58,900	$ 10,042.45	$ 6,250.20	22, 23, 24, 28, 54, 58
M	53/	491	Photios	Live	620	ha	06-06-96	11-06-04	10-06-25	$62,000	$ 10,571.00	$ 6,576.57	22, 23, 24, 28, 54, 58
Bardoc Project
P	24/	5003	Cascade	Live	111	ha	28-10-15	28-07-16	27-07-20	$4,440	$277.50	$250.95	1, 8, 9
P	24/	5004	Cascade	Live	101	ha	28-10-15	04-08-16	03-08-20	$4,040	$252.50	$245.76	1, 8, 9
P	24/	5005	Cascade	Live	102	ha	28-10-15	04-08-16	03-08-20	$4,080	$255.00	$245.76	1, 8, 9
P	24/	5006	Cascade	Live	115	ha	28-10-15	04-08-16	03-08-20	$4,600	$287.50	$245.76	1, 8, 9
P	24/	5007	Cascade	Live	122	ha	28-10-15	04-08-16	03-08-20	$4,880	$305.00	$245.76	1
P	24/	5008	Cascade	Live	114	ha	28-10-15	04-08-16	03-08-20	$4,560	$285.00	$245.76	1, 8, 9
P	24/	5009	Cascade	Live	23	ha	28-10-15	04-08-16	03-08-20	$2,000	$57.50	-	1
P	24/	5021	Cascade	Pending	122	ha	27-11-15	N/A	N/A	Nil	N/A	N/A	25
P	24/	5023	Cascade	Pending	119	ha	24-12-15	N/A	N/A	Nil	N/A	N/A	25
P	24/	5024	Cascade	Pending	112	ha	24-12-15	N/A	N/A	Nil	N/A	N/A	25
P	24/	5025	Cascade	Pending	110	ha	24-12-15	N/A	N/A	Nil	N/A	N/A	25
P	24/	5026	Cascade	Pending	121	ha	24-12-15	N/A	N/A	Nil	N/A	N/A	25

17

Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
P	24/	5027	Cascade	Pending	121	ha	24-12-15	N/A	N/A	Nil	N/A	N/A
P	24/	5028	Cascade	Pending	109	ha	24-12-15	N/A	N/A	Nil	N/A	N/A	25
P	24/	5029	Cascade	Pending	117	ha	24-12-15	N/A	N/A	Nil	N/A	N/A
P	24/	5030	Cascade	Pending	106	ha	24-12-15	N/A	N/A	Nil	N/A	N/A
P	24/	5031	Cascade	Pending	109	ha	24-12-15	N/A	N/A	Nil	N/A	N/A	25
P	24/	5032	Cascade	Pending	131	ha	24-12-15	N/A	N/A	Nil	N/A	N/A	25
P	24/	5033	Cascade	Pending	151	ha	24-12-15	N/A	N/A	Nil	N/A	N/A	25
P	24/	5034	Cascade	Pending	113	ha	24-12-15	N/A	N/A	Nil	N/A	N/A	25
P	24/	5035	Cascade	Pending	148	ha	24-12-15	N/A	N/A	Nil	N/A	N/A	25
P	24/	5082	Cascade	Pending	111	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	25
P	24/	5083	Cascade	Pending	110	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	25
P	24/	5084	Cascade	Pending	188	ha	09-03-16	N/A	N/A	Nil	N/A	N/A	25
P	24/	5085	Cascade	Pending	112	ha	09-03-16	N/A	N/A	Nil	N/A	N/A
P	24/	5086	Cascade	Pending	123	ha	09-03-16	N/A	N/A	Nil	N/A	N/A
Mt
	Monger Project
P	25/	2348	Cascade	Live	122	ha	27-11-15	13-07-16	12-07-20	$4,880	$305.00	$288.28	1
P	25/	2349	Cascade	Pending	122	ha	27-11-15	N/A	N/A	Nil	N/A	N/A	26
P	26/	4086	Cascade	Pending	122	ha	27-11-15	N/A	N/A	Nil	N/A	N/A	26
P	26/	4101	Cascade	Pending	164	ha	11-12-15	N/A	N/A	Nil	N/A	N/A	27
P	26/	4102	Cascade	Pending	187	ha	11-12-15	N/A	N/A	Nil	N/A	N/A	27
P	26/	4103	Cascade	Pending	198	ha	11-12-15	N/A	N/A	Nil	N/A	N/A	27
P	26/	4104	Cascade	Pending	193	ha	11-12-15	N/A	N/A	Nil	N/A	N/A	26, 27
P	26/	4106	Cascade	Live	122	ha	11-12-15	06-09-16	05-09-20	$4,880	$305.00	$288.28	1
P	26/	4107	Cascade	Live	122	ha	11-12-15	06-09-16	05-09-20	$4,880	$305.00	$288.28	1
P	26/	4108	Cascade	Live	122	ha	11-12-15	06-09-16	05-09-20	$4,880	$305.00	$288.28	1
P	26/	4109	Cascade	Live	122	ha	11-12-15	06-09-16	05-09-20	$4,880	$305.00	$288.28	1

18

Tenement	Tenement	Tenement	Registered Holder/Applicant	Status	Area	Area	Pending date	Grant date	Expiry	Commitment	Rent	Rates	Notes
P	26/	4110	Cascade	Live	122	ha	11-12-15	06-09-16	05-09-20	$4,880	$305.00	$288.28	1
P	26/	4111	Cascade	Live	122	ha	11-12-15	06-09-16	05-09-20	$4,880	$305.00	$288.28	1
P	26/	4112	Cascade	Live	129	ha	11-12-15	06-09-16	05-09-20	$5,160	$322.50	$301.23	1
P	26/	4113	Cascade	Live	122	ha	11-12-15	06-09-16	05-09-20	$4,880	$305.00	$288.28	1
P	26/	4114	Cascade	Live	184	ha	11-12-15	06-09-16	05-09-20	$7,360	$460.00	$375.01	1
P	26/	4115	Cascade	Live	185	ha	11-12-15	06-09-16	05-09-20	$7,400	$462.50	$375.01	1
P	26/	4139	Cascade	Pending	147	ha	24-12-15	N/A	N/A	Nil	N/A	N/A	26
P	26/	4141	Cascade	Live	103	ha	24-12-15	06-09-16	05-09-20	$4,120	$257.50	$245.76	1
P	26/	4142	Cascade	Live	171	ha	24-12-15	06-09-16	05-09-20	$6,840	$427.50	$245.76	1
P	26/	4143	Cascade	Live	54	ha	24-12-15	06-09-16	05-09-20	$2,160	$135.00	$261.89	1
Five Mile Hill Project
P	26/	4152	Cascade	Pending	178	ha	29-01-16	N/A	N/A	Nil	N/A	N/A
P	26/	4153	Cascade	Pending	177	ha	29-01-16	N/A	N/A	Nil	N/A	N/A
P	26/	4154	Cascade	Pending	173	ha	29-01-16	N/A	N/A	Nil	N/A	N/A
P	26/	4155	Cascade	Pending	165	ha	29-01-16	N/A	N/A	Nil	N/A	N/A

Key

Briggs Glen Neil Biggs Bullabulling Bullabulling Pty Ltd ACN 073 227 282 Cascade Cascade Resources Ltd ACN 128 744 178 Crew (C) Christopher Crew Crew (R) Ross Frederick Crew Dixon Trevor John Dixon Kazoo Kazoo Nominees Pty Ltd ACN 124 403 578

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McKnight Russell Geoffrey McKnight Millward Stephen Millward Photios Michael John Photios Scarfe Robert William Scarfe Stehn Anthony Paterson Stehn Strategic Strategic Projects Pty Ltd ACN 108 221 674 Sullivan Emma Sullivan Torian Torian Resources Limited ACN 002 261 565 Western Western Resources Pty Ltd ACN 099 496 652 Williams Thomas Geoffrey Williams Zetek Zetek Resources Pty Ltd ACN 072 298 689

Notes for WA Tenements

The notes below refer to particular conditions and endorsements of the Tenements. It is not an exhaustive list. For all conditions and endorsements attached to the Tenements, a search of the Department of Mines and Petroleum ( DMP ) Register should be conducted.

Each of the Tenements are subject to standard conditions that must be complied with including rent payments, annual expenditure requirements and the requirement to lodge annual technical reports. Standard conditions also stipulate that a tenement holder obtain the consent of an officer of the DMP prior to conducting any ground disturbing work, basic environmental and rehabilitation conditions (such as the removal of all waste, capping of drill holes etc) and prohibitions or restrictions on disturbing existing infrastructure such as roads, powerlines, aerial landing ground, airstrips and geodetic survey stations. In addition to these standard conditions, the following applies:

1. This tenement is endorsed with conditions protecting artesian aquifers and requiring approval from the Department of Water prior to any exploration within defined waterways or the extraction of groundwater.

2. This tenement overlies Reserve Lease M275172. The prior written consent of the Minister is required before commencing any prospecting activities on the reserve.

3. This tenement overlies Water Reserve 12467. The tenement holder has been given permission to prospect on that reserve.

4. The tenement holder has been granted permission to remove excess tonnage from this tenement in the amount of 9,500 tonnes of material.

5. This tenement overlies Water Reserve 4249. The prior written consent of the Minister is required before commencing any prospecting activities on the reserve.

6. This tenement overlies Pipe Track Reserve 14475. The prior written consent of the Minister is required before commencing any prospecting activities on the reserve.

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1. This tenement overlies a rubbish disposal site. The prior written consent of the Minister is required before commencing any prospecting activities on the site.

2. This tenement overlies an Unencumbered Land Act Reserve. The prior written consent of the Minister is required before commencing any prospecting activities on the reserve.

3. This tenement overlies a rail corridor which carries special protective conditions preventing mining and storage of explosives within a certain distance of the rail corridor.

4. This tenement overlies Water Reserve 3965. Permission to mine on the water reserve has been granted subject to extensive protective conditions.

5. Kalgoorlie Ore Treatment Company Pty Ltd has objected to the grant of this application.

6. This tenement overlies Malcolm Townsite. The prior written consent of the Minister is required before commencing any prospecting activities on the reserve.

7. This tenement overlies Recreation and Water Reserve CR 8946. The prior written consent of the Minister is required before commencing any prospecting activities on the reserve.

8. This tenement overlies Peak Hill – Leonora Stock Route Reserve. Permission to mine on the water reserve has been granted subject to activities not restricting the use of the reserve.

9. This tenement overlies Stock Route Reserve 9699. The prior written consent of the Minister is required before commencing any prospecting activities on the reserve.

10. This application has been recommended for grant.

11. This tenement overlies a Trigonometrical Station reserve. The prior written consent of the Minister is required before commencing any prospecting activities on the reserve.

12. This tenement overlies the Goldfields Gas Pipeline. Extensive protective conditions apply to the tenement to prevent damage to the pipeline and safe operations within its vicinity including restrictions on mining and storage of explosives.

13. This tenement overlies Quarry Reserve 30029. Permission to mine on the reserve has been granted.

14. Bullabulling Operations Pty Ltd has objected to the grant of this application.

15. Westcape Nominees Pty Ltd has objected to the grant of this application.

16. A notice of intent exists for this tenement and activities on the tenement must be carried out in accordance with that notice.

17. The tenement is subject to a 5% net smelter return royalty payable to Sihayo Gold Ltd (formerly Oropa Ltd) and Kelvin Thomas Moore (see note 24 below). Sihayo Gold, under its former name, Oropa Ltd has a caveat in place protecting its rights to the royalty.

18. Kelvin Thomas Moore has a caveat in place protecting his rights to the royalty as set out in note 23 above.

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1. Aphrodite Gold Ltd has objected to the grant of this application.

2. Silver Lake (Integra) Pty Ltd has objected to the grant of this application.

3. Silver Lake Resources Ltd has objected to the grant of this application.

4. This tenement overlies the Tjwarl native title claim (WAD228/2001).

5. An application has been made to extend the term of this tenement. That application has not yet been determined.

6. Application for M37/1305 has been made over the area of this tenement. This tenement remains in force beyond its expiry date by virtue of application for M37/1305 and pending the determination of application for M37/1305.

7. Application for M37/1313 has been made over the area of this tenement. This tenement remains in force beyond its expiry date by virtue of application for M37/1313 and pending the determination of application for M37/1313.

8. Application for M37/1312 has been made over the area of this tenement. This tenement remains in force beyond its expiry date by virtue of application for M37/1312 and pending the determination of application for M37/1312.

9. Application for M37/1311 has been made over the area of this tenement. This tenement remains in force beyond its expiry date by virtue of application for M37/1311 and pending the determination of application for M37/1311.

10. Application for M37/1307 has been made over the area of this tenement. This tenement may remain force beyond its expiry date by virtue of application for M37/1307 pending the determination of application for M37/1307.

11. Application for M37/1306 has been made over the area of this tenement. This tenement may remain in force beyond its expiry date by virtue of application for M37/1306 and pending the determination of application for M37/1306.

12. This tenement is subject to a joint venture between Torian and Cascade dated 22 April 2015 ( Zuleika JV ). Under the Zuleika JV, Torian has earned a 12.25% interest in the tenement and is entitled to earn up to a total 49% interest by sole funding an aggregate $5,000,000 on exploration by 21 April 2019.

13. Millward retains a 10% interest in this tenement. Any interest of Torian and Cascade as provided for under the Zuleika JV (refer note 36 above) is subject to Millward’s continuing interest which is free carried up to the completion of a feasibility study.

14. Cascade purchased 100% of this tenement under the Option to Purchase Kundana North Project agreement between Cascade, Stehn and Bullabulling dated 5 May 2015. The registered tenement holder remains entitled to a 2% gross royalty on minerals recovered from the tenement. Cascade and Torian have agreed that the tenement forms part of the part of the Zuleika JV (Refer note 36).

15. Torian purchased all of the interest in this tenement by way of a letter agreement dated 5 May 2016 between Torian and Strategic. Cascade and Torian have agreed that the tenement forms part of the part of the Zuleika JV (refer note 36).

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1. Cascade purchased all of Strategic’s interest in this tenement under the Offer to Purchase Carbine Tenements agreement between Strategic and Cascade dated 14 May 2015. Cascade and Torian have agreed that the tenement forms part of the part of the Zuleika JV (refer note 36).

2. Cascade purchased 100% of this tenement under the Offer to Purchase Balgarrie Tenements agreement between Zetek, Western and Cascade dated 17 June 2015. Cascade and Torian have agreed that the tenement forms part of the part of the Zuleika JV (refer note 36).

The registered tenement holder remains entitled to a 2% gross royalty on all minerals mined from this tenement.

1. Cascade purchased 100% of this tenement under the Option – Mt Pleasant North Tenements agreement between Zetek, Western and Cascade dated 17 August 2015. Cascade and Torian have agreed that the tenement forms part of the part of the Zuleika JV (refer note 36).

The registered tenement holder remains entitled to a 2% gross royalty on minerals recovered from the tenement and alluvial rights.

1. Torian purchased 100% of the interest in this tenement under the Offer to Purchase - Bardoc Tenements agreement between Zetek, Western and Torian dated 18 August 2016.

The registered tenement holder remains entitled to a 2% gross royalty on minerals recovered from the tenement and alluvial rights.

1. Torian (by was of assignment from Cascade) purchased a 51% interest in this tenement in accordance with the Sale and Purchase Agreement, Malcolm Project between Crew (R), Dixon, Drylands Pty Ltd and Cascade dated 1 March 2013. Torian may earn up to a total 90% interest by spending $600,000 by 25 March 2018. On Torian making a decision to mine, the registered holder must elect to contribute to ongoing expenditure or convert its interest to a royalty equal to 2% of the proceeds of all minerals mined.

2. Zetek has sold 100% of this tenement to Torian.

3. Torian (by way of assignment from Cascade) purchased a 51% interest in this tenement in accordance with the Sale and Purchase Agreement, Mt George Project between Dixon and Cascade dated 26 August 2014. Torian may earn up to a total 90% interest by spending $300,000 25 March 2018. On Torian making a decision to mine, the registered holder must elect to contribute to ongoing expenditure or convert its interest to a royalty equal to 2% of the proceeds of all minerals mined.

4. By letter agreement dated 8 August 2016, Stehn agreed to transfer a 100% legal interest in this tenement to Torian. The tenement, on acquisition, will fall under the Mt Stirling / Cutmore Project Joint Venture as set out in note 49 below with a right in Torian to earn up to a 90% legal and beneficial interest, and a 2% royalty applying to all production.

5. By letter agreement dated 8 August 2016, Stehn agreed to sell a 100% legal interest in this tenement to Torian. The tenement, on acquisition, will fall under the Pig Well Joint Venture dated 4 March 2013 and under which Torian, by way of assignment from Cascade, has earned a 51% interest with a right in to earn up to 90% legal and beneficial interest, and a 2% royalty payable to the vendor applying to all production.

6. Torian (by way of assignment from Cascade) purchased a 51% interest in this tenement in accordance with the Sale and Purchase Agreement, Mt Stirling Project between McKnight, Crew (R), Crew (C) and Cascade dated 4 March 2013. Torian may earn up to a total 90% interest by spending $300,000 by 25 March 2018. On

23

Torian making a decision to mine, the registered holder must elect to contribute to ongoing expenditure or convert its interest to a royalty equal to 2% of the proceeds of all minerals mined.

1. Torian (by way of assignment from Cascade) purchased a 51% interest in this tenement in accordance with the Sale and Purchase Agreement, Mt Cutmore Project between McKnight, Biggs, Crew (R), Williams and Cascade dated 4 March 2013. Torian may earn up to a total 90% interest by spending $300,000 by 25 March 2018. On Torian making a decision to mine, the registered holder must elect to contribute to ongoing expenditure or convert its interest to a royalty equal to 2% of the proceeds of all minerals mined.

2. By letter agreement dated 8 August 2016, Stehn agreed to sell a 100% interest in this tenement to Torian.

3. Kazoo has agreed to transfer this tenement to Dixon whereupon it will fall within the terms of the Mt George Joint Venture, as described in note 46 above.

4. Sullivan holds this tenement on trust for and on behalf of Torian. The tenement falls under the Mt Stewart Project Joint Venture dated 4 March 2013 between Sullivan and Cascade (since assigned to Torian), under which Torian is entitled to a 51% interest in this tenement. Torian may earn up to a total 90% interest by spending $250,000. On Torian making a decision to mine, the registered holder must elect to contribute to ongoing expenditure or convert its interest to a royalty equal to 2% of the proceeds of all minerals mined.

5. This tenement is subject to the Sale and Purchase Agreement, Mt Keith Project between Photios and Cascade dated 14 March 2013. The tenement is subject to a 5% net smelter return royalty.

6. Kazoo has agreed to transfer this tenement to Dixon whereupon it will fall within the terms of the Malcolm Joint Venture, as described in note 44 above.

7. By letter agreement dated 8 August 2016, Stehn agreed to transfer a 100% legal interest in this tenement to Torian. The tenement, on acquisition, will fall under the Mt George Project Joint Venture as set out in note 46 above with a right in Torian to earn up to a 90% legal and beneficial interest, and a 2% royalty applying to all production.

8. This report shows tenement status as at 10 October 2016. This tenement was due to expire shortly after that date and Torian had intended prior to that date to relinquish the tenement, having determined it to be of lesser priority to other tenements.

9. By a Conditional Heads of Agreement dated 6 June 2014, Cascade assigned its interest in this tenement to Torian. The assignment became unconditional and completed on 31 March 2015.

10. By letter agreement dated 8 August 2016, Stehn agreed to transfer a 100% legal interest in this tenement to Torian. The tenement, on acquisition, will fall under the Mt Stewart Project Joint Venture as set out in note 53 above with a right in Cascade (assigned to Torian) to earn up to a 90% legal and beneficial interest, and a 2% royalty applying to all production.

11. By agreement dated 1 March 2013, Dixon and Scarfe agreed to sell this tenement to Cascade (since assigned to Torian).

24