IODM LIMITED — Interim / Quarterly Report 2014

Oct 12, 2014

Quarterly Activities Report for the period ending 30 September 2014

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ABN 28 102 747 133

ASX Release

13 October 2014

Level 1/330 Churchill Avenue Subiaco, WA 6008

Ph: +61 8 9200-4482 Fax: +61 8 9200-4469

THE LADIES COPPER PROJECT (PDM 100%)

EPM 19016 and EPM 25366 “the Ladies” is an IOCG style copper-gold project located 70km south west of Cloncurry in northwest Queensland. PDM completed a six (6) hole RC drilling program in the December quarter 2013 with results reported in an ASX release dated 7[th] January 2014.

There was no field exploration conducted at the Ladies during the quarter.

The Company has placed further field exploration and drilling activities at the Ladies on hold, but is continuing with desk top modelling to further evaluate the potential of the project.

YELLOW MOUNTAIN (PDM 30%, earning 51%)

Contact : Anthony Reilly Managing Director

Email : info@paradigmmetals.com.au

No work was carried out on EL 6325 Yellow Mountain during the quarter. The company is reviewing its commitment to the future exploration expenditure under the joint venture agreement.

WHITE ROCK (PDM 100%)

No work was carried out on EL 6274 during the quarter.

Website : www.paradigmmetals.com.au

Directors: Anthony Reilly Graham Carman Brian McMaster

As announced in ASX release dated 23[rd] September 2014 the Company has entered into a conditional Tenement Sale Agreement with Strategic Metals Australia Pty Ltd. Upon satisfaction of certain conditions precedent (refer ASX release 23[rd] September 2014) the Company will receive AUD$140,000 cash on or before the 28[th] November 2014 and the release of an environmental bond of AUD$10,000.

FROGMORE (PDM 100%)

No work was carried out on EL 6590 during the quarter.

FOUR MILE TANK (PDM 100%)

No work was carried out on EPM 18294 during the current quarter.

ASX Symbol: PDM

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CORPORATE

Opportunities

The Company continues to review a number of new resource project opportunities both in Australia and overseas which will complement its current focus on base metals.

Corporate Overheads

The Company has reviewed and initiated reductions in corporate overheads, director’s fees and salaries.

Farm-outs

The Company is continuing to seek parties interested in farming in to its remaining non-core base metals and silver project in NSW.

Yours sincerely,

Anthony Reilly Chief Executive Officer 13 October 2014

Email: info@paradigmmetals.com.au

Website: www.paradigmmetals.com.au

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Graham Carman who is a Fellow of the Australasian Institute of Mining and Metallurgy. Dr Carman is a nonexecutive director of the Company, 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 of Exploration Results, Mineral Resources and Ore Reserves”. Dr Carman consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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APPENDIX 1 – TENEMENT TABLE

Tenement	Project	Holder	Interest atbeginningofquarter	Interest atend ofquarter	Location
EL 6590EL 6274EL 6325EPM 18294EPM 19016EPM25366EPM 16073	FrogmoreWhite RockYellow MountainFour Mile Tank The LadiesThe LadiesToolebuc JV	Tungsten NSW Pty LtdTungsten NSW Pty LtdTriako Resources Pty Ltd / Golden CrossOperations Pty LtdParadigm Queensland Pty LtdParadigm Queensland Pty LtdParadigm Queensland Pty LtdToolebuc Resources PtyLtd	100%100% 30%100%100%-50%	100%100%30%100%100%100%50%	CentralNSWCentralNSWCentralNSWQueenslandQueenslandQueenslandQueensland

APPENDIX 2 – SUMMARY OF PROJECT EXPENDITURE

ProjectFrogmoreWhite RockYellow MountainFour Mile TankThe LadiesToolebuc JVTotal	Quarter Cash Spend$A’000
	3
	11
	-
	-
	29
	-
	43

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