IGO LIMITED — Capital/Financing Update 2015

Oct 5, 2015

==> picture [541 x 87] intentionally omitted <==

ASX ANNOUNCEMENT / MEDIA RELEASE

ASX:ABU

• 6[th] October, 2015

Announcing the Bumblebee

Gold – Copper – Silver – Lead – Zinc – Cobalt Discovery

ABM Resources NL (“ABM” or “the Company”) is pleased to provide an update on recent drilling in the Du Faur Project area, part of the Company’s Lake Mackay alliance with Independence Group NL (“IGO”) (ASX:IGO).

The Bumblebee Prospect Discovery:

• Located 55 kilometres north east of the town of Kintore and 400 kilometres west of Alice Springs in the Northern Territory and part of the wider Du Faur Project area / Warumpi Margin Project.

• First drill results from the oxide, supergene and fresh-rock (sulphide) zones respectively at the Bumblebee Prospect include:

• 2 metres averaging 1.3g/t gold, 34.6g/t silver, 7.4% copper, 1.3% lead, 1.6% zinc and 0.09% cobalt ~25 metres below surface

• 7 metres averaging 3.3g/t gold, 37.7g/t silver, 3.2% copper, 0.9% lead, 1.3% zinc and 0.08% cobalt ~30 metres below surface

• 5 metres averaging 2.4g/t gold, 12.4g/t silver, 1.4% copper, 0.2% lead, 1.0% zinc and 0.1% cobalt ~48 metres below surface

• Multi-element surface geochemistry anomaly > 1 kilometre in strike length

• Metal association and geology indicate analogies to Cloncurry style iron oxide copper gold (IOCG) deposits.

Next Steps at Bumblebee and Surrounding Areas:

• IGO and ABM to extend the alliance in this region

• Further exploration to include geophysics, geochemistry and drilling.

Darren Holden, Managing Director of ABM Resources said, “This is a remarkable set of first drill results from Bumblebee. These results are not only a new discovery, but as the first high-grade drill results in this entire region potentially herald a whole new mineral district. We look forward to bringing you further updates on this exciting development.”

1

Du Faur Project Area (EL24915) including Bumblebee Discovery

==> picture [452 x 331] intentionally omitted <==

Figure 1. Bumblebee drilling cross-section view west.

The Bumblebee Prospect is located within the Du Faur Project area (EL24915) approximately 55 kilometres north east of Kintore, 17 kilometres north of the Gary Junction Road and ~400 kilometres west of Alice Springs in the Northern Territory.

In the second half of 2014, Independence Group NL (IGO), in alliance with ABM, conducted broad spaced soil sampling throughout EL24915. This program identified numerous multi-element soil anomalies and also a rock sample was collected that returned results including 1.60% nickel, 1.61% cobalt and 38.5% manganese (refer release 30/01/2015).

As part of the follow up work, IGO recently drill tested numerous geochemistry anomalies with a shallow air-core drill program.

Drilling at the Bumblebee Prospect intersected gold, silver, copper, lead, zinc and cobalt mineralisation in the oxide zone, in a supergene-enriched zone and in fresh rock (refer Figure 1). The oxide zone mineralogy includes malachite, azurite and chrysocolla (secondary copper oxide minerals) with native copper in the supergene zone. In the fresh rock, minerals observed include chalcopyrite (copper sulphide), pyrite (iron sulphide) and magnetite (iron oxide).

The Bumblebee Prospect consists of a multi-element soil geochemistry anomaly that strikes east-west for over 1 kilometre. The peak of the soil geochemistry anomaly is coincident with a window through the transported sand-dune sediments and it is possible that anomalism extends farther under sand cover. In drilling, mineralisation was intersected on one drill section which indicates a southerly

2

dipping mineralised zone within an east-west striking structure. Further work is required establish the extents and geometry of this mineralised zone.

The combination of the multi-element metal association, the high-grade metamorphic rocks and presence of magnetite is similar to distal signatures of Cloncurry-style iron oxide copper gold (IOCG) deposits (e.g Ernest Henry or Osborne copper-gold mines in Queensland). However, further work is required to form a coherent metallogenic model for this region and this interpretation may change.

The next steps at Bumblebee include an aeromagnetic survey to identify prospective structures and accumulations of magnetite (IOCG analogues); ground-based electromagnetic techniques for targeting accumulations of massive or disseminated sulphide minerals; along with further surface geochemistry and drilling.

==> picture [439 x 223] intentionally omitted <==

Figure 2. Bumblebee drill program and geochemical anomaly map on aerial imagery

==> picture [443 x 235] intentionally omitted <==

Figure 3. Du Faur project area showing prospect locations with interpreted geology

3

The drill program also tested 4 other geochemistry anomalies in this area. The Springer Prospect drilling returned 1m grading 2.8g/t gold. The Prowl Prospect drilling returned 1 metre grading 3.4g/t gold and 1 metre grading 2.4g/t gold.

The Warumpi Margin Project (part of the Lake Mackay Alliance)

The Arunta geological region is represented by Proterozoic metamorphosed sediments and intrusions consisting of geological provinces including the Aileron and Warumpi Provinces.

In early 2015, ABM acquired a further ~4900km[2] of exploration license applications (Figure 4) in this area that cover over 140km of strike length of a pronounced geophysical gravity ridge along the margin of the Aileron and Warumpi provinces. These exploration license applications also form part of the Lake Mackay alliance agreement with IGO (refer release 21/08/2013). IGO has completed the required expenditure for Phase 1 (option phase) of the agreement and a decision to proceed to Phase 2 (the earn-in phase) is required by November 2015. However, given that access on the Du Faur Project area was only granted last year, and exploration on this tenement and the wider Warumpi Margin Project is still in the early stage, both ABM and IGO have negotiated in principle to extend the option term to allow time for granting of new exploration licence applications and further on-ground exploration work. This extension is pending completion of paperwork and a further announcement will be made on this shortly.

ABM and IGO have also entered into an earn-in and joint venture agreement with Metals X Ltd for the adjoining tenement application immediately north of EL24915. This tenement application (EL29748) is held by Castile Resources Pty Ltd - a wholly owned subsidiary of Metals X Ltd (ASX:MLX). ABM and IGO (after granting of the tenement) can collectively earn an initial 51% of the tenement (pro-rata 70% IGO and 30% ABM) by spending $500,000 with further rights to earn up to 76.925%. This tenement is an application and, as with all exploration license applications in this area, requires consent of the traditional owners via the Central Land Council prior to granting. The IGO / ABM alliance is tasked with advancing the tenement to granted status.

==> picture [461 x 180] intentionally omitted <==

Figure 4. Gravity geophysical map (bouguer anomaly) and ABM's exploration licenses at the Warumpi Margin Project

4

About ABM Resources

ABM is developing several gold discoveries in the Central Desert region of the Northern Territory of Australia. The Company has a multi-tiered approach to exploration and development with a combination of high-grade gold production such as the Old Pirate High-Grade Gold Project, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Hyperion Gold Project. In addition, ABM is committed to regional exploration programs throughout its extensive holdings including the alliance with Independence Group NL at the regional Lake Mackay Project.

==> picture [384 x 259] intentionally omitted <==

Figure 5. ABM's land position in the Central Desert

Signed

==> picture [75 x 37] intentionally omitted <==

Darren Holden – Managing Director

Competent Persons Statement

The information in this announcement relating to recent exploration drill results from the Lake Mackay Project is based on information compiled by Independence Group NL and reviewed / checked by Mr Darren Holden who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Holden is a full time employee of ABM Resources NL and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves”. Mr Holden consents to the inclusion in the documents of the matters based on this information in the form and context in which it appears.

5

Appendix 1:

Table A1. Significant Intercept calculations for Bumblebee Tenements

Hole No	Depth From (m)	Depth To (m)	Vertical depth (m)	Width (m)	Gold (g/t)	Silver (g/t)	Copper (%)	Lead (%)	Zinc (%)	Cobalt (%)
15LMAC030	29	31	25	2	1.3	34.6	7.4	1.3	1.6	0.09
15LMAC031	35	42	30	7	3.3	37.7	3.2	0.9	1.3	0.08
15LMAC032	56	61	48	5	2.4	12.4	1.4	0.2	1.0	0.10
All intercepts	based on >1g/t gold.

Table A2. Drill hole details of 2015 drill program at Du Faur ordered from high to low on maximum gold assay in the hole.

Hole ID	Hole Type	Total Depth (m)	East (GDA94 Zone 52)	North (GDA94 Zone 52)	RL (m)	Dip (degrees)	Azimuth	Max Assay Gold (g/t)	Prospect
15LMAC031	AC	52	588303	7450496	481	-60	0	6.144	Bumblebee
15LMAC032	AC	70	588304	7450472	481	-60	0	3.841	Bumblebee
15LMAC073	AC	31	559326	7445722	465	-60	315	3.433	Prowl
15LMAC033	AC	40	572704	7446795	475	-60	315	2.754	Springer
15LMAC071	AC	62	559301	7445750	468	-60	315	2.418	Prowl
15LMAC030	AC	46	588303	7450510	481	-60	0	1.398	Bumblebee
15LMAC034	AC	60	572720	7446782	475	-60	315	1.35	Springer
15LMAC036	AC	46	573012	7446968	476	-60	315	0.755	Springer
15LMAC035	AC	28	572727	7446817	474	-60	315	0.397	Springer
15LMAC077	AC	20	559363	7445687	467	-60	315	0.345	Prowl
15LMAC068	AC	31	572280	7446374	473	-60	135	0.273	Springer
15LMAC024	AC	55	588509	7450585	483	-60	0	0.224	Bumblebee
15LMAC069	AC	31	572269	7446381	481	-60	135	0.213	Springer
15LMAC029	AC	49	588299	7450533	481	-60	0	0.161	Bumblebee
15LMAC080	AC	19	559388	7445668	468	-60	315	0.134	Prowl
15LMAC084	AC	21	559428	7445622	469	-60	315	0.129	Prowl
15LMAC037	AC	49	572998	7446979	477	-60	315	0.113	Springer
15LMAC049	AC	36	572513	7446695	481	-60	130	0.085	Springer
15LMAC057	AC	37	572613	7446600	482	-60	130	0.078	Springer
15LMAC056	AC	32	572602	7446610	482	-60	130	0.073	Springer
15LMAC072	AC	40	559314	7445735	465	-60	315	0.072	Prowl
15LMAC048	AC	30	572517	7446687	474	-60	130	0.066	Springer
15LMAC081	AC	22	559403	7445653	468	-60	315	0.066	Prowl
15LMAC038	AC	49	573030	7446955	474	-60	315	0.065	Springer
15LMAC079	AC	19	559379	7445673	467	-60	315	0.065	Prowl
15LMAC083	AC	20	559418	7445629	469	-60	315	0.052	Prowl
15LMAC047	AC	31	572537	7446672	474	-60	130	0.05	Springer
15LMAC050	AC	31	572503	7446706	467	-60	130	0.044	Springer
15LMAC082	AC	28	559413	7445640	469	-60	315	0.039	Prowl

6

Hole ID	Hole Type	Total Depth (m)	East (GDA94 Zone 52)	North (GDA94 Zone 52)	RL (m)	Dip (degrees)	Azimuth	Max Assay Gold (g/t)	Prospect
15LMAC055	AC	35	572591	7446619	481	-60	130	0.038	Springer
15LMAC060	AC	34	572331	7446617	484	-60	130	0.038	Springer
15LMAC074	AC	31	559338	7445711	465	-60	315	0.037	Prowl
15LMAC023	AC	58	588499	7450611	482	-60	0	0.036	Bumblebee
15LMAC067	AC	31	572294	7446366	476	-60	140	0.035	Springer
15LMAC089	AC	39	559279	7445772	465	-60	315	0.035	Prowl
15LMAC046	AC	34	572548	7446661	480	-60	130	0.033	Springer
15LMAC044	AC	40	572733	7446766	473	-60	315	0.032	Springer
15LMAC058	AC	31	572626	7446586	478	-60	130	0.032	Springer
15LMAC087	AC	19	559450	7445599	468	-60	315	0.027	Prowl
15LMAC028	AC	52	588300	7450556	481	-60	0	0.022	Bumblebee
15LMAC061	AC	30	572321	7446630	477	-60	130	0.022	Springer
15LMAC054	AC	34	572580	7446631	472	-60	130	0.021	Springer
15LMAC076	AC	20	559354	7445692	466	-60	315	0.021	Prowl
15LMAC026	AC	58	588305	7450606	481	-60	0	0.02	Bumblebee
15LMAC027	AC	58	588302	7450581	481	-60	0	0.019	Bumblebee
15LMAC065	AC	30	572279	7446670	478	-60	130	0.019	Springer
15LMAC045	AC	34	572557	7446650	471	-60	130	0.018	Springer
15LMAC011	AC	12	607200	7449669	496	-60	0	0.017	MR_F
15LMAC020	AC	23	606537	7441647	518	-60	0	0.016	MR_E
15LMAC053	AC	34	572569	7446639	472	-60	130	0.016	Springer
15LMAC003	AC	16	607001	7449674	498	-60	0	0.014	MR_F
15LMAC066	AC	31	572301	7446351	477	-60	135	0.013	Springer
15LMAC042	AC	46	572676	7446826	473	-60	315	0.012	Springer
15LMAC022	AC	31	588499	7450636	481	-60	0	0.011	Bumblebee
15LMAC007	AC	43	607004	7449512	497	-60	0	0.01	MR_F
15LMAC043	AC	44	572659	7446842	476	-60	315	0.01	Springer
15LMAC086	AC	18	559442	7445608	469	-60	315	0.01	Prowl
15LMAC008	AC	43	607002	7449468	498	-60	0	0.009	MR_F
15LMAC075	AC	31	559346	7445699	466	-60	315	0.009	Prowl
15LMAC078	AC	19	559370	7445679	467	-60	315	0.009	Prowl
15LMAC085	AC	19	559434	7445616	469	-60	315	0.009	Prowl
15LMAC088	AC	23	559469	7445583	468	-60	315	0.008	Prowl
15LMAC002	AC	4	607001	7449709	496	-60	0	0.007	MR_F
15LMAC014	AC	10	607203	7449547	496	-60	0	0.007	MR_F
15LMAC021	AC	32	606536	7441633	518	-60	0	0.007	MR_E
15LMAC039	AC	46	572984	7446996	477	-60	315	0.007	Springer
15LMAC051	AC	32	572493	7446715	471	-60	130	0.007	Springer
15LMAC070	AC	31	572261	7446393	482	-60	135	0.007	Springer
15LMAC006	AC	9	607010	7449546	497	-60	0	0.006	MR_F
15LMAC010	AC	6	607203	7449708	496	-60	0	0.006	MR_F
15LMAC040	AC	43	572966	7447011	474	-60	315	0.006	Springer
15LMAC041	AC	40	572690	7446812	474	-60	315	0.006	Springer

7

Hole ID	Hole Type	Total Depth (m)	East (GDA94 Zone 52)	North (GDA94 Zone 52)	RL (m)	Dip (degrees)	Azimuth	Max Assay Gold (g/t)	Prospect
15LMAC025	AC	49	588511	7450560	482	-60	0	0.005	Bumblebee
15LMAC063	AC	31	572300	7446648	478	-60	130	0.005	Springer
15LMAC004	AC	17	606998	7449633	498	-60	0	0.004	MR_F
15LMAC005	AC	16	607000	7449590	498	-60	0	0.004	MR_F
15LMAC013	AC	7	607201	7449589	497	-60	0	0.004	MR_F
15LMAC062	AC	31	572310	7446640	477	-60	130	0.004	Springer
15LMAC064	AC	31	572290	7446658	478	-60	130	0.004	Springer
15LMAC012	AC	5	607197	7449622	497	-60	0	0.003	MR_F
15LMAC017	AC	5	606901	7441709	520	-60	0	0.003	MR_E
15LMAC052	AC	31	572482	7446725	480	-60	130	0.003	Springer
15LMAC001	AC	10	606999	7449750	497	-60	0	0.002	MR_F
15LMAC009	AC	7	607200	7449751	497	-60	0	0.002	MR_F
15LMAC015	AC	5	607203	7449512	497	-60	0	0.002	MR_F
15LMAC016	AC	13	607202	7449471	495	-60	0	0.002	MR_F
15LMAC018	AC	22	606903	7441692	520	-60	0	0.002	MR_E
15LMAC059	AC	34	572343	7446608	477	-60	130	0.002	Springer
15LMAC019	AC	28	606903	7441672	520	-60	0	0.001	MR_E

8

JORC Code, 2012 Edition – Table 1- Du Faur Project Area, Lake Mackay Drilling 2015

Section 1 Sampling Techniques and Data

	Criteria	JORC Code explanation	Commentary
	Sampling techniques	 Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.  Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.  Aspects of the determination of mineralisation that are Material to the Public Report.  In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	 Aircore Drilling (AC) was undertaken in 2015 to test 5 soil geochemical anomalies. 89 holes were drilled to an average depth of 31.2 metres, for 2781 metres.  One metre AC samples were collected and composited to four metres to produce a 3kg sample.  Samples were dried, pulverised to -75um and split to produce a nominal 200 gram sub sample. A 10g charge was analysed using aqua-regia digestion with an MS finish for gold and pathfinder elements.  For anomalous samples individual metre samples were also collected.  An end of hole (EOH) sample was collected for lithogeochemistry. A 3kg sample was collected. The sample was dried, pulverised to -75um and split to produce a nominal 200 gram sub sample. This was analysed with Lithium Borate Fusion with an ICP-OES and ICP-MS finish.  Magnetic susceptibility was recorded for each composite sample.  Lithogeochemistry has also been conducted on selected samples to aid in understanding the style of mineralization present on the project. This was analysed with Lithium Borate Fusion with an ICP-OES and ICP-MS finish, a 4 acid digestion with an ICP-OES and ICP-MS finish, Fire Assay with an MS Finish.
	Drilling techniques	 Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	 A Drillboss 200 AC drilling rig, owned and operated by Bostech Drilling, was used to collect the AC samples. The face sampling AC bit has a diameter of 87mm (3.5 inches) and collects samples through an inner tube reducing the potential for sample contamination.  In fresh rock, an 87mm (3.5 inches) aircore hammer was used.
	Drill sample recovery	 Method of recording and assessing core and chip sample recoveries and results assessed.  Measures taken to maximise sample recovery and ensure representative nature of the samples.  Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	 The sample recovery was estimated by the relative size of the piles of drill spoil that were placed on the ground.  Sample quality was recorded during logging (wet\dry samples) and qualitative recovery codes (C=contaminated, G=good, M=moderate, O=oversize, P=poor, U=undersize) were assigned to the samples.
	Logging	 Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.  The total length and percentage of the relevant intersections logged.	 The AC chips were logged on 1 metre intervals using the IGO coding system. Lithology, weathering, colour, alteration, veining and mineralisation and oxidation state are logged. This drilling is for exploration purposes and is not intended for resource estimation. No geotechnical logging was conducted.  Sampling was Qualitative (geological logging) and Quantitative (magnetic susceptibility).  Each hole was logged and sampled in full. A representative chip sample of each metre drilled was collected for future reference.

9

Criteria	JORC Code explanation	Commentary
Sub-sampling techniques and sample preparation	 If core, whether cut or sawn and whether quarter, half or all core taken.  If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.  For all sample types, the nature, quality and appropriateness of the sample preparation technique.  Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples.  Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second- half sampling.  Whether sample sizes are appropriate to the grain size of the material being sampled.	 One-metre drill samples were laid out on to the ground in 10m rows and four-metre composite samples of approximately 3kg were collected using an aluminium scoop, into pre-numbered calico bags. The majority of samples (>90%) were dry.  Samples were prepared at the Intertek Laboratory in Alice Springs. Samples were dried and the whole sample pulverised to 85% passing 75µm, and a sub-sample of approx. 200g retained. 10g was used for analysis.  A duplicate field sample was taken at a rate of 1 in 50.  Field duplicate assay results are reviewed to confirm that the sample results are representative.  For exploration drilling the sample size is considered appropriate to give an indication of mineralisation given that the sample is crushed to -75µm.
Quality of assay data and laboratory tests	 The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.  For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.  Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	 Aqua Regia with an MS finish was used, this has a detection limit of 1ppb Au.  All samples >500ppb Au were re-assayed using fire assay.  Any metals that exceeded the Aqua Regia threshold were re- assayed using a 4 acid digestion. These methods are considered appropriate for AC drilling.  No geophysical or XRF results are used in exploration results reported.  Laboratory QAQC involves the use of internal lab standards and blanks using certified reference materials. Lab duplicates are also monitored to ensure the sample results are representative.  Independence Group also provides reference samples and blanks that are inserted every 50 samples.
Verification of sampling and assaying	 The verification of significant intersections by either independent or alternative company personnel.  The use of twinned holes.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Discuss any adjustment to assay data.	 Significant intersections were checked by IGO personnel and ABM personnel  No twinned holes were completed.  Primary data was collected in Field Marshall files. Data are imported directly to the database with importers that have built in validation rules. Assay data are imported directly from digital assay files and are merged in the database with sample information. Data are uploaded to a master SQL database stored in Perth, which is backed up daily. Data is reviewed and manually validated upon completion of drilling.  On occasions assay analysis will be repeated if they fail the company QAQC protocols, however, no adjustments are made to assay data once accepted into the database.
Location of data points	 Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.  Specification of the grid system used.  Quality and adequacy of topographic control.	 Hole collars were recorded using Garmin handheld GPS. Expected accuracy is + or – 5m for easting and northing. All holes were drilled to -60 dip and no down-hole surveys were undertaken. The azimuth of the drill collars were measured with a compass and recorded in the database.  The grid system is MGA_GDA94 (zone 52), local easting and northing are in MGA.  Handheld GPS is adequate for AC drilling.
Data spacing and distribution	 Data spacing for reporting of Exploration Results.  Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.  Whether sample compositing has been applied.	 The data spacing was designed to cover the peak of the soil anomalies that were identified. Due to the low degree of weathering the hole depth was reduced and the drill spacing was tightened up due to slow penetration rates with the hammer.  This drilling is not used for resource estimation, it was intended to attempt to identify bedrock sources of multi-element soil geochemical anomalies associated with gold mineralised systems.

10

Criteria	JORC Code explanation	Commentary
		 Samples were composited over 4 metres. 1m splits were subsequently collected for analysis by a broader suite of elements with ore grade detection limits.
Orientation of data in relation to geological structure	 Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.  If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	 The drill lines were designed to be perpendicular to the soil anomalies.  No sampling bias is considered to have been introduced.
Sample security	 The measures taken to ensure sample security.	 The drill samples were collected in pre-numbered calico bags and then placed in poly-weave bags. They were transported from the field to the sample preparation laboratory in Alice Springs by XM Logistics personnel who were contracted to Independence Group. Once the sample preparation is completed in Alice Springs the samples are transported to Perth for analysis using the laboratories standard chain of custody procedure.
Audits or reviews	 The results of any audits or reviews of sampling techniques and data.	 No specific audits or reviews have been undertaken at this stage in the programme.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation
Mineral tenement and land tenure status	 Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.  The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	 The Lake Mackay Project currently consists of the following granted tenements:  EL9343, EL9442, EL9449, EL10305, EL10306, EL24299, EL24492, EL24567, EL24858, EL24915, EL24949, EL25630, EL25632, EL25866, EL27780, EL27872, EL27906, EL28028, EL29459, EL29460, EL29483  The tenements are in good standing and no known impediments exist.  ABM and Independence Group NL (“IGO”) entered into a multi-phase agreement covering the Lake Mackay Project on 21 August 2013.  Phase1 – Option Phase (ABM retains 100% interest). IGO earns the right to proceed to Phase 2 by spending $1.6 million on exploration expenditure within 2 years.  Phase 2- IGO has the option to enter into a farm-in and joint venture agreement with ABM to earn a 70% interest in the project. This would involve making a $1M cash payment to ABM or subscribing for $1.5M ABM shares in placement with a 6 month escrow period and spending $6M on exploration on the project over 4 years.
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	 Historically, large parts of the Lake Mackay project area have been moderately explored since 1996 by Newmont Pty Ltd and then Tanami Gold NL. Hundreds of surface samples were collected and Vacuum-RAB-AC drill holes completed, mainly within the areas of residual soils close to known intercepts.  A number of prospects were identified from this work and more moderate levels of shallow RAB, and various geophysical surveys were completed. This exploration identified some sub- economic gold (Au) occurrences, although follow-up work was not completed at that time.  ABM followed up these anomalies and conceptual targets in 2011 with targeted and reconnaissance RC drilling, this verified the Tekapo Au and Cu anomalism.

11

Criteria	JORC Code explanation
		 EL24915 was previously explored by BHP in the South Tanami JV. BHP flew a Geotem survey in 1999 and did ground EM and drilling in 2004 targeting Ni sulphides.
Geology	 Deposit type, geological setting and style of mineralisation.	 The project area is considered highly prospective for orogenic shear hosted gold deposits based on similarities that exist between the West Arunta and the Granites- Tanami Block with respect to gold deposition timing and structural settings.  The region is also considered to have potential for a range of commodities and mineralising styles. These type of deposits include:  IOCG  Porphyry/intrusion related gold and base metals (including IRG)  Ultramafic intrusion related Ni-Cu-PGE
Drill hole Information	 A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length.  If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	 Included in Table A1 and A2
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.  Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.  The assumptions used for any reporting of metal equivalent values should be clearly stated.	 Only intersections > 1g/t Au are displayed in Tables A1. Peak assay for each drill hole assay is shown in Table A2.
Relationship between mineralisation widths and intercept lengths	 These relationships are particularly important in the reporting of Exploration Results.  If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	 Intercepts are downhole width.
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	 Refer figure 1 & 2 in main body of this report.
Balanced reporting	 Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	 All drill hole details in Table A2.

12

Criteria	JORC Code explanation
Other substantive exploration data	 Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	 Refer body of announcement.
Further work	 The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step- out drilling).  Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	 Further drilling will be undertaken to define the extent of the mineralisation and to test other targets in the project.

13