IODM LIMITED — Interim / Quarterly Report 2014

Jul 22, 2014

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Quarterly Activities Report for the period ending 30 June 2014

THE LADIES COPPER PROJECT (PDM 100%)

ABN 28 102 747 133

ASX Release

23 July 2014

Level 1/330 Churchill Avenue Subiaco, WA 6008

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

Contact : Anthony Reilly Managing Director

Email : info@paradigmmetals.com.au

Website : www.paradigmmetals.com.au

Directors: Anthony Reilly Graham Carman Brian McMaster

ASX Symbol: PDM

EPM 19016 “The Ladies” is a copper gold project located 70km south west of Cloncurry in northwest Queensland. The exploration permit was granted to Paradigm in February 2013 for a period of five years.

There was no field exploration conducted at the Ladies during the quarter. The company was awaiting advice on the status of its drilling grant application under round 8 of the Queensland Government Future Resource Program- Collaborative Drilling Initiative. Subsequent to the quarter end the company was advised that it had been unsuccessful in round 8 but has the opportunity to reapply in round 9 which closes in November 2014.

During the quarter the company was granted new EPM 25366 for a period of three years commencing 29 May 2014. This EPM is contiguous with EPM 19016 and modelling of magnetic data confirms the continuation of the large magnetic anomaly east of the Lady Kate prospect. Refer diagram 1 below.

Diagram 1 Ladies Air mag and 1[st] pass drilling.

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As previously reported the company has identified an opportunity to extract superficial oxide ore under the Small Scale Mining Code. Discussions with local operators continued during the quarter to ascertain the potential of this operation to provide an interim revenue opportunity to fund the company’s future activities. At this stage no definitive information has been ascertained about the commerciality of proceeding with this option.

YELLOW MOUNTAIN (PDM 30%, earning 51%)

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 agreement and expects to make an announcement in regard to this in the September quarter.

WHITE ROCK (PDM 100%)

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

However, during the quarter the company continued discussions regarding various development options with interested third parties. No decision has been made in relation to this at this stage.

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.

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.

Farm-outs

Paradigm is continuing its discussions with parties interested in farming in to its remaining non-core base metals and silver projects in NSW.

Yours sincerely,

Anthony Reilly Chief Executive Officer 23 July 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

APPENDIX 1 – TENEMENT TABLE	APPENDIX 1 – TENEMENT TABLE	APPENDIX 1 – TENEMENT TABLE
								ation
				I	nterest	Interest	Loc
Tenement	Project	Holder		a	t	at end of
				b	eginning	quarter
				o	fquarter
L 6590	Frogmore	Tungsten NSW Pty Ltd			00%	100%	CenNS
EL 6274	White Rock	Tungsten NSW Pty Ltd		1	00%	100%	Cen
							NSW
EL 6325	Yellow Mountain	Triako Resources Pty	Ltd / Golden Cross	3	0%	30%	Cen
		Operations Pty Ltd					NSW
EPM 18294	Four Mile Tank	Paradigm Queensland P	ty Ltd	1	00%	100%	Que
EPM 19016	The Ladies	Paradigm Queensland P	ty Ltd	1	00%	100%	Que
PM 16073	Toolebuc JV	Toolebuc Resources PtyLtd		50%		50%

APPENDIX 2 – SUMMARY OF PROJECT EXPENDITURE

ProjectFrogmoreWhite RockYellow MountainFour Mile TankThe LadiesToolebuc JVTotal	Quarter Cash Spend$A’000
	1
	5
	-
	-
	64
	-
	70

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