KING RIVER RESOURCES LIMITED — Interim / Quarterly Report 2014

Oct 13, 2014

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Q UARTERLY A CTIVITIES R EPORT
30 S EPTEMBER 2014
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ASX Announcement 14 October 2014

HIGHLIGHTS TO SEPTEMBER 30, 2014

Phase 1 exploration program has been successfully completed and all results received and interpreted:

• 15 DC and 5 RAB holes were drilled at Chapman, Todhunter, Copper Cliff and Calamondah.

• Phase 2 drilling underway with visible copper mineralisation observed in several holes (assays pending)

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Figure 1: Chapman, Calamondah, Todhunter Main and Copper Cliffs locations

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COPPER / GOLD PROJECT

King River Copper Limited (“King River” or “the Company”) (ASX: KRC) herein reports all the assay results from the Phase 1 program, being 15 diamond core (“DC”) and 5 rotary air blast (“RAB”) drillholes at the Chapman, Todhunter, Todhunter South (Copper Cliff) and Calamondah locations (Figure 1). The drillhole locations are given in Table 1 and the significant assay intersections shown in Table 2.

Drilling at Chapman Outcrops and Chapman Hills (Phase 1)

Nine DC holes have been drilled at Chapman, including three into a north-south trending shear zone at Chapman Hills (KCHD01 to KCHD03) and six at Chapman Outcrop (KCHD04 to KCHD09). Locations are given in Table 1 and shown in Figure 2 below.

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Figure 2: Location of DC drillholes at Chapman with previosuly reported rock chip assays

Drillholes KCHD01 to KCHD03 intersected a 55° west dipping robust zone of shearing, brecciation and quartz veins with arsenopyrite. KCHD03 intersected 9.5m from 109m to 118.5m of low grade gold mineralisation averaging 245ppb Au and 2.24% As, including 0.45m at 1447ppb Au and 9.22% As. This result suggests a correlation between gold and arsenic but not copper, silver and antimony (Table 2).

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The NS structure may be one of several parallel structures interpreted to localise high grade gold-coppersilver mineralisation at the sediment-granophyre contact, such as at Chapman outcrops 300m to the south. Figure 3 shows a schematic cross section based on drill logs and assays from several holes along strike to illustrate how the copper-gold-silver mineralised target at Chapman has been eroded away leaving a small remnant outcrop. Assay results from drillholes KCHD04 to KCHD09 at Chapman Outcrop returned the best copper result in KCHD04 of 9m at 865ppm Cu from surface, including 0.8m at 0.23% Cu from 6.3m to 7.1m. This hole collared in a remnant of the flat-lying quartz-breccia vein (Figure 3). This low grade copper intersection lacked gold and arsenic, but had slightly elevated antimony (Table 2).

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Figure 3: Schematic cross section across Chapman Prospect showing targets (red)

Petrography suggests the copper-silver-antimony mineralisation post-dates the gold event, as suggested by the tetrahedrite (Cu-Sb±Ag) and chalcopyrite veinlets cross-cutting brecciated arsenopyrite (Figure 4).

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Figure 4: Photomicrographs of copper-antimony mineralisation in KCHD01 and 07 at Chapman Prospect

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Drilling has intersected quartz veins with only low to moderate amounts of sulphide (mostly arsenopyrite) and only anomalous copper-gold and silver mineralisation within what may be the feeder structures to the system. The occurrence of gold and copper events together suggests that both may have exploited the same structural-stratigraphic plumbing as the fluid conduit. New petrography on core samples has shown the xenolithic granophyre shown in Figure 3 to be a granitic body, either a tonalite with xenoliths of feldspar porphyry or feldspar porphyry with sandstone xenoliths. Significantly, the folded shale and xenolithic granite below these mineralised veins is strongly altered and weakly mineralised, and may be part of a hydrothermal feeder system for this style of copper-gold-silver system. Figure 3 also highlights some new vein intersection targets to drill, and the northern extension of the main Chapman Shear Zone at Chapman Hills may have the entire copper-gold-silver system preserved below the upper sedimentary units of the Speewah Dome.

Drilling at Todhunter Main (Phase 1)

One diamond core hole (KTHD01) was completed at the main Todhunter prospect where a previously reported surface rock sample assayed 3% Cu and 4g/t Au. The location of the drill hole is given in Table 1 and the assay results in Table 2. A 10 metre intersection from 4.5 to 14.5 metres consists of quartz veining, brecciation and shearing with carbonate and chlorite alteration and some fine pyrite/chalcopyrite. The structure is interpreted to dip shallowly at about 20° to the west. Assay results within this interval only reported weakly anomalous gold (maximum 320ppb Au) and copper (357ppm Cu) mineralisation in two thin intersects (Table 2).

Drilling at Todhunter Main has intersected a flat dipping quartz veined and brecciated shear on the side of a hill with the down dip section preserved but the up dip eroded away. Significantly, an exposure of a subvertical granophyre/granite dyke, surrounded by strongly altered and weathered wallrocks, occurs deeper in the footwall downslope and may be an important feeder to the system. Above this altered zone, the section of the targeted vein system has been eroded away, leaving only the downdip section of the vein exposed in the hillside. Further drilling for potential high grade shoots is warranted along strike, where the vein structure intersects the granitic dyke.

Drilling at Todhunter South (Phase 1)

The Copper Cliff diamond hole (KTHD02) intersected a strong structure beneath the cliff, the shale becoming more and more fractured closer to the fault bounding the eastern face of the cliff (Figure 5). There are some sulphides (primarily pyrite) within the main fault zone (~4m downhole thickness) with some potassic and quartz-carbonate alteration. The rock changes to dolerite beneath the fault zone. The drillhole intersected 13.7m of weak silver (6.57g/t Ag) and copper (1219ppm Cu) mineralisation in the shale from surface (Table 2). This result would explain the copper stain in the cliff face.

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The Todhunter South diamond hole KTHD03, close to the previously announced 20g/t rock chip (Figure 5), was drilled into strongly weathered rock and appears to have intersected a 10m structure in the first 15m (weathering has obscured most of the original textures). Anomalous Niton Cu results were noted within this zone and also a 20cm quartz vein strongly mineralised with malachite and iron was intersected. Table 2 reports a narrow (0.3m) interval assaying 0.37% Cu from 10.1-10.4m downhole that was also weakly anomalous in lead (317ppm Pb) but only 11ppb gold.

Five RAB holes tested structures to the south west of Copper Cliff and close to a previously announced 20g/t rock chip sample (Figure 5). KTHRB01 intersected a 15m structure with trace chalcopyrite mineralisation, and three of the other four RAB holes intersected a 3m structure. Assays showed no significant copper-gold-silver mineralisation, but the area does warrant more drilling, with other structures evident (based on limited mapping and reconnaissance), extensive cover and unexplored strike to the south.

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Figure 5: Todhunter South Copper Cliff drillhole locations (red dots)

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Todhunter South has preserved a significant section of the prospective shale unit in outcrop with weak copper mineralisation, which is interpreted to be located along a flat west dipping thrust. At Copper Cliff, the intersection of a NS fault (forming the east edge of the cliff) with the fractured shale contact has been eroded away leaving mostly weakly mineralised shale. Both the Todhunter Main and Todhunter South prospects are located on flat dipping structures with potential large strike lengths and are therefore a significant target for future exploration and drilling, especially where they intersect cross-cutting structures or intrusions.

Drilling at Calamondah (Phase 1)

KCLD01 was drilled into the main Calamondah vein outcrop intersecting 1m of mineralised quartz breccia followed by 2m of anomalous weathered material. KCLD02 intersected a 6m fracture zone with anomalous arsenic and copper (based on Niton results). KCLD03 appears to have intersected a similar structure to KCLD02, in the first 6m, however weathering has obscured much of the original textures. Core assays confirm anomalous copper, gold, silver, arsenic, antimony and lead mineralisation in KCLD01 and KCLD02 over narrow 1-3m intervals (Table 2), including maximums of 0.28% Cu, 481ppb Au, 23g/t Ag, 0.78% Sb and 0.34% Pb.

The current interpretation of these drill results indicates the possibility for multiple veins at Calamondah near the granophyre-shale contact, and also potential for identifying a thicker plunge component to the main vein. Significantly, the suite of metals resembles the previously reported high grade surface samples collected in this area and also at Chapman to the north east where there is structural complexity of intersecting quartz veins near the granophyre-shale contact. Importantly, the NS trending vein set at Calamondah is located south of Eiffler Hill where the entire upper section of the Speewah Dome is preserved and is a potential target for more focused exploration and drilling.

In addition, a new mineralised vein was located during reconnaissance mapping and sampling approximately 1km to the west of Calamondah, with assays pending.

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Amendment to Speewah Mineral Systems Model and Future Targeting of Copper-Gold-Silver

Age dating and geochemical/mineralogical research supported by the results of the 2013 and the 2014 drill programmes to date have helped constrain the origin and age of mineralising events within the Speewah Dome. A new mineral systems model for the copper-gold-silver mineralisation is now proposed by KRC:

• The Hart Dolerite intruded into the 1812Ma aged Speewah Basin sediments at about 1790Ma.

• The Speewah Dome is not a simple dome shaped by a laccolithic gabbro sill of the Hart Dolerite.

• The shape of the Speewah Dome is structurally controlled due to basin inversion and thrust faulting during a compressional event that affected the North Australian Craton at 1600-1650Ma.

• The Hart Dolerite formed a barrier to mineralising fluids from the basement. Periodic ruptures along reactivated thrusts and cross cutting sub-vertical altered xenolithic granitic intrusions released these fluids into the upper part of the Hart Dolerite along favourable horizons like the felsic granophyre and shale.

• Reverse thrusting has created dilational sites for copper-gold-silver mineralisation where the thrust flattens its dip, and at fault/vein intersections, such as along the granophyre-shale-sandstone contact zones at Chapman, Todhunter and Calamondah.

• High grade and large size targets may be localised along the intersection of inferred cross-cutting deep seated basement transform faults, which should be the focus for future exploration.

Modeling of gravity, magnetic and geological data has highlighted the importance of north-south faults at Speewah (Figure 6). These structures are interpreted to be high angle reverse faults or thrusts, and where the thrust dips flatten have created dilational sites for copper-gold-silver mineralisation. Petrographic studies have identified an altered xenolithic granite and also stockwork veining/breccia (quartz, quartz-Fe chlorite±arsenopyrite±tetrahedrite±chalcopyrite, carbonate) in the felsic granophyre in the upper sequences of the Speewah Dome. It is in this setting that most high grade surface samples are located within flat dipping quartz veins. This lithostructural setting is considered the most favourable and where the overlying shale-granophyre contact is preserved is considered to be the most prospective target. In addition, the presence of cross cutting deep seated basement faults (transform structures) are being targeted, since these structures are considered important controls in localising the best grade and endowment in other hydrothermal mineral systems. Significantly, there is a 2km wide NW trending corridor of fractures that crosses the centre Speewah Dome (Figure 6).

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Figure 6: Speewah Dome showing Cu-Au prospects and dome forming fault architecture

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Table 1: Phase 1 Diamond Core and RAB Drillhole Locations

Hole ID	Prospect	Drill Type	Easting MGA94 (m)	Northing MGA94 (m)	RL (m)	Dip (degrees)	Azimuth (degrees)	Depth (m)
KCHD0001	Chapman Hills	Diamond	390986	8211130	306	‐57	125	155.9
KCHD0002	Chapman Hills	Diamond	390986	8211130	306	‐78	125	83.8
KCHD0003	Chapman Hills	Diamond	390949	8211282	297	‐88	090	155.9
KCHD0004	Chapman	Diamond	391039	8210784	279	‐55	200	49.1
KCHD0005	Chapman	Diamond	391013	8210792	278	‐55	280	52.9
KCHD0006	Chapman	Diamond	391069	8210713	279	‐90	000	24.3
KCHD0007	Chapman	Diamond	390922	8210906	230	‐53.5	140	67.2
KCHD0008	Chapman	Diamond	391005	8210756	262	‐55	040	35.1
KCHD0009	Chapman	Diamond	390933	8210802	240	‐55	095	28.9
KTHD0001	Todhunter main	Diamond	382031	8188788	373	‐90	0	24.6
KTHD0002	Todhunter South	Diamond	382410	8184727	298	‐57	90	43.05
KTHD0003	Todhunter South	Diamond	382254	8184575	300	‐60	90	18
KTHRB0001	Todhunter South	RAB	382130	8184547	288	‐60	90	19
KTHRB0002	Todhunter South	RAB	382136	8184568	294	‐60	90	15
KTHRB0003	Todhunter South	RAB	382190	8184572	304	‐60	90	24
KTHRB0004	Todhunter South	RAB	382319	8184554	291	‐60	90	20
KTHRB0005	Todhunter South	RAB	382371	8184554	297	‐60	90	14
KCLD0001	Calamondah	Diamond	389541	8204352	297	‐90	0	9.4
KCLD0002	Calamondah	Diamond	389566	8204420	293	‐90	0	21.45
KCLD0003	Calamondah	Diamond	389490	8204503	293	‐90	0	28.8

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Table 2: Phase 1 Diamond Core and RAB Drillhole Assays

(Au>100ppb, Ag>3ppm, Cu>500ppm)

Hole ID	Prospect	From	To	Interval	Au	Ag	Cu	As	Sb	Pb
Units	-	m	m	m	ppb	ppm	ppm	ppm	ppm	ppm
KCDH0001	Chapman	137.9	138.6	0.7	157	0.86	107	15738	83	5
KCDH0002	Chapman	-	-	-	NSM	-	-	-	-	-
KCHD0003	Chapman Including &Including	109	118.5	9.5	245	1.18	47	22406	54	5
		109	112.2	3.2	513	0.90	3	36338	50	10
		109.95	110.4	0.45	1447	1.84	<1	92247	74	19
KCHD0004	Chapman Including	0	9	9.0	3	1.08	865	11	121	13
		6.3	7.1	0.8	1	0.84	2323	14	79	4
KCHD0005	Chapman	-	-	-	NSM	-	-	-	-	-
KCHD0006	Chapman	4.7	5	0.3	24	26.78	75	14	46	4
KCHD0007	Chapman	9.8	10.5	0.7	106	1.09	38	324	63	3
KCHD0008	Chapman	19.85	20.2	0.35	119	1.07	9	9429	47	5
KCHD0009	Chapman	-	-	-	NSM	-	-	-	-	-
KTHD0001	Todhunter	9	10	1	320	0.17	44	9	3.5	<1
		12	12.4	0.4	145	0.27	357	56	5.3	3
KTHD0002	Todhunter South	0	13.7	13.7	1.9	6.57	1219	7.93	4	12
KTHD0003	Todhunter South	10.1	10.4	0.3	11	1.92	3691	76	9.9	317
KCLD0001	Calamondah Including	0	2	2	141	14.69	2171	1844	4233	1875
		0	1	1	242	23.22	2844	3415	7767	3415
		3.5	4	0.5	149	3.1	595	8163	266	95
KCLD0002	Calamondah Including	15.8	18.7	2.9	256	8.3	467	14569	247	36
		18	18.7	0.7	481	8.3	712	24081	660	64
KCLD0003	Calamondah	-	-	-	NSM	-	-	-	-	-
KTHRB0001	Todhunter South	-	-	-	NSM	-	-	-	-	-
KTHRB0002	Todhunter South	-	-	-	NSM	-	-	-	-	-
KTHRB0003	Todhunter South	-	-	-	NSM	-	-	-	-	-
KTHRB0004	Todhunter South	-	-	-	NSM	-	-	-	-	-
KTHRB0005	Todhunter South	-	-	-	NSM	-	-	-	-	-

NSM = No significant mineralisation in these holes

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Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Ken Rogers and Andrew Chapman and fairly represents this information. Mr. Rogers is the Chief Geologist and an employee of the Company and a member of the Australian Institute of Geoscientists. Mr. Chapman is a Consulting Geologist contracted with the Company. Mr. Rogers has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Rogers consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

TENEMENTS

1. Mining Tenements held at the end of September 2014 quarter and their location.

1. Mining Tenements held at the end of September 2014	quarter and their lo
Location	Tenements
WA East Kimberley Doon Doon	L80/43
WA East Kimberley Dunham Hill	L80/47
WA East Kimberley Speewah	M80/267
WA East Kimberley Speewah	M80/268
WA East Kimberley Speewah	M80/269
WA East Kimberley Speewah	E80/2863
WA East Kimberley West Speewah	E80/3657
WA East Kimberley Speewah North	E80/4468
WA East Kimberley Speewah West	E80/4740
WA East Kimberley Speewah East	E80/4741
WA East Kimberley Chapman East	E80/4829
WA East Kimberley Todhunter South East	E80/4830
WA East Kimberley Todhunter West	ELA80/4831
WA East Kimberley Todhunter North East	E80/4832
WA EastKimberleyTodhunterSouth	ELA80/4875

1. Mining Tenements acquired and disposed of during the quarter and their locations

N/A

1. The beneficial percentage interests held in farm-in or farm-out agreements at the end of the quarter.

N/A

1. The beneficial percentage interests in farm-in or farm-out agreements acquired or disposed of during the quarter.

N/A

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The following section is provided to ensure compliance with the JORC (2012) requirements for the reporting of exploration results:

SECTION 1: SAMPLING TECHNIQUES AND DATA – SPEEWAH DIAMOND CORE AND RAB DRILLING

Criteria	JORC Code explanation	Commentary	Commentary
Sampling	 Nature and quality of sampling (e.g. cut channels, random chips, or		Drillhole sampling was 1/2 NQ2 diamond core and Rotary Air Blast
techniques	specific specialised industry standard measurement tools appropriate		(RAB) drilling. Core sample intervals were selected based on
	to the minerals under investigation, such as down hole gamma		geological intervals from approximately 0.3m to 1.6m. Sampling
	sondes, or handheld XRF instruments, etc.). These examples should		intervals were determined and supervised by experienced
	not be taken as limiting the broad meaning of sampling.		geologists, QAQC will be performed by the laboratory (see Quality
	 Include reference to measures taken to ensure sample representivity		of assay data and laboratory tests). RAB drill samples were
	and the appropriate calibration of any measurement tools or systems		collected every metre.
	used.		Hand-held XRF instrument was used in the field to assay and
	 Aspects of the determination of mineralisation that are Material to the		record intervals of visible alteration and mineralisation, and as a
	Public Report.		guide to sample selection for assay by the laboratory.
	 In cases where ‘industry standard’ work has been done this would be		A total of 5 RAB holes were drilled in this reported programme.
	relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1		Holes were drilled 60°east, and hole depths varied from 14 to 24
	m samples from which 3 kg was pulverised to produce a 30 g charge		metres.
	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 (e.g.
	submarine nodules) may warrant disclosure of detailed information.
Drilling techniques	 Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air		Drill type is diamond drilling with core size: NQ2, standard tube.
	blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter,		No precollars were drilled; core was orientated using a Reflex ACT
	triple or standard tube, depth of diamond tails, face-sampling bit or		RD II.
	other type, whether core is oriented and if so, by what method, etc.).		A RAB drilling rig was also used to collect the samples. The RAB
			bit has a diameter of 4 inch (100 mm).
Drill sample	 Method of recording and assessing core and chip sample recoveries		Details of samples recorded in sample sheet. Holes logged, with
recovery	and results assessed.		rock quality designation and core loss recorded.
	 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/gainof fine/coarse material.

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Logging	 Whether core and chip samples have been geologically and		All drill holes are logged by experienced geologists including:
	geotechnically logged to a level of detail to support appropriate		lithology, alteration, veining and mineralisation. Alpha and Beta
	Mineral Resource estimation, mining studies and metallurgical		measurements are taken on core where relevant structures are
	studies.		present and where orientations are available. Also relevant
	 Whether logging is qualitative or quantitative in nature. Core (or		geotechnical details are recorded from the core and magnetic
	costean, channel, etc.) photography.		susceptibility measurements taken.
	 _The total length and percentage of the relevant intersections logged. _
Sub-sampling	 If core, whether cut or sawn and whether quarter, half or all core		Core is meter marked, logged then sampled to intervals defined by
techniques and sample preparation	taken.  If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.		an experienced geologist. Core samples will be ½ core taken after cutting with a core saw. All samples dry.
	 For all sample types, the nature, quality and appropriateness of the		The sample type and method is appropriate for exploration
	sample preparation technique.		diamond and RAB drilling.
	 Quality control procedures adopted for all sub-sampling stages to		NQ2 diamond core is considered excellent quality for sampling the
	maximise representivity of samples.		targeted mineralisation style.
	 Measures taken to ensure that the sampling is representative of the		One‐metre RAB drill samples were collected from the open hole
	in situ material collected, including for instance results for field		collar in a bucket and laid out onto the ground in rows, and a single
	duplicate/second-half sampling.		metre sample collected.
	 Whether sample sizes are appropriate to the grain size of the
	_material being sampled. _
Quality of assay	 The nature, quality and appropriateness of the assaying and		Samples assayed by Quantum Analytical Services for multi-
data and laboratory tests	laboratory procedures used and whether the technique is considered partial or total.		elements using either a 4 acid Total digest followed by multi element analysis (Inductively coupled plasma mass spectrometry -
	 For geophysical tools, spectrometers, handheld XRF instruments,		ICPMS or Inductively coupled plasma optical emission
	etc., the parameters used in determining the analysis including		spectrometry - ICPOES analysis dependent on element being
	instrument make and model, reading times, calibrations factors		assayed for and grade ranges). Au, Pt and Pd processed by fire
	applied and their derivation, etc.		assay and analysed by mass spectrometry.
	 Nature of quality control procedures adopted (e.g. standards, blanks,		Laboratory QAQC procedures summary:
	duplicates, external laboratory checks) and whether acceptable levels		o Samples are dried at 140°C and pulverised to 80% passing -
	of accuracy (i.e. lack of bias) and precision have been established.		75um. For the fire assay (25g charge) and total acid digest
			(0.25g charge) jobs, a blank, two sample duplicates and two
			certified reference materials (CRM) are included every 50
			samples. Additional international CRMs are run at the end of
			each job with the precision and accuracy of results maintained
			to Australian standards i.e. CRM results within 2% of nominal,
			duplicate results within 5% of each other.

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Verification of	 The verification of significant intersections by either independent or		Sample intersections are checked by the Chief Geologist and
sampling and assaying	alternative company personnel.  The use of twinned holes.		consultant geologist. Assays are reported as Excel xls files and secure pdf files.
	 Documentation of primary data, data entry procedures, data		Data entry carried out by field personnel thus minimizing
	verification, data storage (physical and electronic) protocols.		transcription or other errors. Careful field documentation
	 Discuss any adjustment to assay data.		procedures and rigorous database validation ensure that field
			and assay data are merged accurately.
			No adjustments aremade to assay data.
Location of data	 Accuracy and quality of surveys used to locate drill holes (collar and		Holes pegged and picked up with hand held GPS (sufficient for
points	down-hole surveys), trenches, mine workings and other locations		first pass reconnaissance drilling). End of hole down hole survey
	used in Mineral Resource estimation.		single shots were taken with an electronic multishot tool every
	 Specification of the grid system used.		30m. Final hole pickup will be with a differential GPS.
	 Quality and adequacy of topographic control.		All locations recorded in GDA94 Zone 52.
			Topographic locations interpreted from GPS pickups (barometric
			altimeter), DEMs, field observations and 1cm accurate surveyed
			elevationpoints(taken within 10m of holes KCHD0001-6).
Data spacing and	 Data spacing for reporting of Exploration Results.		Samples are from NQ2 diamond core and RAB. Drill core
distribution	 Whether the data spacing and distribution is sufficient to establish the		sample intervals have been selected based on geological
	degree of geological and grade continuity appropriate for the Mineral		intervals from approximately 0.3m to 1.6m. Sampling intervals
	Resource and Ore Reserve estimation procedure(s) and		were determined and supervised by experienced geologists,
	classifications applied.		QAQC will be performed by the laboratory (see Quality of assay
	 Whether sample compositing has been applied.		data and laboratory tests). RAB samples collected every one
			metre.
Orientation of data	 Whether the orientation of sampling achieves unbiased sampling of		Due to the shallow dip of the main mineralised trend the
in relation to geological structure	possible structures and the extent to which this is known, considering the deposit type.		orientation of drill holes is not believed to bias sampling. Geological comments are provided in the announcement to put
	 If the relationship between the drilling orientation and the orientation		assay results in a structural context.
	of key mineralised structures is considered to have introduced a
	sampling bias, this should be assessed and reported if material.
Sample security	 The measures taken to ensure sample security.		Not necessary for early exploration. Samples will be securely
			packaged when transported to be cut/assayed to ensure safe
			arrival at facility. Pulps are stored until final results have been
			fully interpreted.
Audits or reviews	 The results of any audits or reviews of sampling techniques and data.		None at this stage of the exploration.

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SECTION 2: REPORTING OF EXPLORATION RESULTS – SPEEWAH DIAMOND CORE AND RAB DRILLING

Criteria	JORC Code explanation	Commentary	Commentary
Mineral tenement	 Type, reference name/number, location and ownership including		The diamond core and RAB drilling sampling was undertaken
and land tenure status	agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites,		at King River Copper’s Speewah Project on E80/3657 and E80/2863, 100% owned by Speewah Mining Pty Ltd (a wholly
	wilderness or national park and environmental settings.		owned subsidiary of King River Copper Limited), located over
	 The security of the tenure held at the time of reporting along with any		the Speewah Dome, 100km SW of Kununurra in the East
	known impediments to obtaining a licence to operate in the area.		Kimberley. The tenements are in good standing and no known
			impediments exist. All but the Chapman prospect is outside
			the National Heritage Listing area. A native title claim that post
			dates the granted tenements clips the south western corner of
			E80/3657.
Exploration done by	 Acknowledgment and appraisal of exploration by other parties.		No previous systematic exploration has been undertaken by
other parties			other parties.
Geology	 Deposit type, geological setting and style of mineralisation.		Exploration targets hydrothermal gold-copper-silver
			mineralisation within the Speewah Dome where the target
			horizon (granophyre-shale contact) interacts with structural
			complexities. The sampling covered previously unexplored or
			sparsely explored areas where significant structures,
			geophysical targets or anomalous reconnaissance samples
			have been identified.
Drill hole Information	 A summary of all information material to the understanding of the exploration results including a tabulation of the following information for		See Tables 1 and 2.
	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. _

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Data aggregation	 In reporting Exploration Results, weighting averaging techniques,		All reported assays have been length weighted. No top-cuts have
methods	maximum and/or minimum grade truncations (e.g. cutting of high grades)		been applied. A nominal 100ppb Au lower cut-off is applied in
	and cut-off grades are usually Material and should be stated.		reporting gold results, 3ppm Ag and 500ppm Cu.
	 Where aggregate intercepts incorporate short lengths of high grade results		Intercepts reported are both single core sample and aggregated
	and longer lengths of low grade results, the procedure used for such		downhole lengths in metres. Where aggregate intercepts reported
	aggregation should be stated and some typical examples of such		(such as in holes KCHD003, KCHD004, KCLD001 and KCLD002)
	aggregations should be shown in detail.		they include gold assays greater than 100 to a maximum of
	 The assumptions used for any reporting of metal equivalent values should		1447ppb Au. Since these drillholes showed some variation they
	be clearly stated.		have been reported as an including interval.
			No metal equivalent values are used for reporting exploration
			results.
Relationship	 These relationships are particularly important in the reporting of		Due to the shallow to moderate dip of the main mineralised trends
between	Exploration Results.		the orientation of drill holes is not believed to bias sampling. Until
mineralisation	 If the geometry of the mineralisation with respect to the drill hole angle is		further drilling is undertaken, including scissor holes, the intercepts
widths and	known, its nature should be reported.		should be considered as downhole lengths and true widths are not
intercept lengths	 If it is not known and only the down hole lengths are reported, there should		known. Geological comments in sections are provided in the
	be a clear statement to this effect (e.g. ‘down hole length, true width not		announcement to put assay results in a structural context.
	_known’). _
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts		See Figures 2, 3 and 5, and Tables 1 and 2.
	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. _
Balanced	 Where comprehensive reporting of all Exploration Results is not		All results are reported for gold intercepts greater than 100ppb Au,
reporting	practicable, representative reporting of both low and high grades and/or		silver greater than 3ppm Ag and copper greater than 500ppm Cu.
	widths should be practiced to avoid misleading reporting of Exploration		Drillholes that returned very low metal grades are included in Table
	Results.		2 and shown as NSM (no significant mineralisation).
Other substantive	 Other exploration data, if meaningful and material, should be reported		All meaningful data has been either summarized in the text or
exploration data	including (but not limited to): geological observations; geophysical survey		reported in the tables/figures.
	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. _
Further work	 The nature and scale of planned further work (e.g. tests for lateral		Further reconnaissance sampling and mapping of the Chapman,
	extensions or depth extensions or large-scale step-out drilling).		Greys-Catto, Eiffler, Calamondah, Todhunter and Todhunter South
	 Diagrams clearly highlighting the areas of possible extensions, including		Prospects are planned to expand the understanding of
	the main geological interpretations and future drilling areas, provided this		mineralisation controlling structures and favourable lithologies.
	information is not commercially sensitive.		Follow-up drilling at these prospects is planned.