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PREDICTIVE DISCOVERY LIMITED Interim / Quarterly Report 2015

Oct 29, 2015

65537_rns_2015-10-29_864968b9-2e60-4049-9a89-fe9f0329ed08.pdf

Interim / Quarterly Report

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30[th] October 2015

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ASX

Announcement

Predictive Discovery Limited is a gold exploration company with strong technical capabilities focused on its advanced gold exploration projects in West Africa.

ASX: PDI

Issued Capital: 651M shares

Share Price: 0.5 cents

Market Capitalisation: $3.25M

Directors

Phillip Jackson Non-Exec Chairman

Paul Roberts Managing Director

Phil Henty Non-Executive Director

Tim Markwell Non-Executive Director

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Quarterly Report for the Period Ending 30[th] September 2015

EXPLORATION

Bonsiega Project, Burkina Faso

  • An Exploration Target was calculated on drilled prospects near the Bongou gold deposit[1] , as follows:

  • A range of approximately 9.4 to 10.4 million tonnes averaging between approximately 1.5 to 1.7 g/t Au and containing approximately 460,000 to 563,000 ounces of gold.

  • Subject to funding availability, this Exploration Target will be followed up with infill drilling in order to calculate resources over the next two years.

The potential quantity (tonnage) and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate Mineral Resources and it is uncertain if further exploration will result in the estimation of Mineral Resources

Côte d’Ivoire - Toro Gold Joint Venture

  • Kokoumbo permit – 6km and 2km long gold in soil anomalies and high grade rock chip gold results

  • Boundiali permit - 5.6km long gold in soil geochemical anomaly with peak value of 0.8g/t Au

Côte d’Ivoire – Bobosso Project

  • Funding and exploration management agreement on very large gold mineralised system in northern Cote D’Ivoire

Cape Clear, Victoria - Cape Clear Minerals Joint Venture

  • Diamond drilling program commenced in early October.

Planned December Quarter Exploration Program

Burkina Faso

  • Plan exploration program for March Quarter

Côte d’Ivoire

  • Toro JV - infill soil sampling and geological mapping.

  • Bobosso - commence re-log of Bobosso drill holes.

Victoria, Australia

  • Cape Clear – complete diamond drilling program.

CORPORATE

  • $0.35M cash at 30[th] September 2015 and no debt.

1 184,000oz of gold in the Inferred and Indicated Mineral Resource categories with an average grade of 2.6g/t Au, including 136,000oz at 3.8g/t Au (ASX release dated 4 September, 2014).

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INTRODUCTION

PDI’s major focus is in the countries of Burkina Faso and Cote D’Ivoire in West Africa. In Burkina Faso, the Company has established an effective Burkina-based team and a large regional tenement package mainly in the north-east of the country covering 1,605km[2] (Figure 1). In Cote D’Ivoire, the Company holds four granted exploration permits in Cote D’Ivoire totalling 1,533km[2] (Figure 3) which is being actively explored under the terms of a joint venture with Toro Gold Limited. PDI has also recently signed an agreement on the Bobosso Project, which covers a further 1,199km[2] (Figure 3).

PDI also holds an Exploration Licence in Victoria (Figure 17) which is currently being drilled by joint venture partner, Cape Clear Minerals Pty Ltd.

Despite the fact that the September Quarter in each year includes the West African rainy season, normally a quiet period in Predictive’s exploration cycle, a great deal has been achieved this quarter, especially in Cote D’Ivoire.

PROJECTS

Burkina Faso

The Company’s tenement holding covers approximately 100km of strike length in the Samira Hill greenstone belt in eastern Burkina Faso (the Bonsiega permit group, Figure 1). This belt hosts the 2.5 million ounce Samira Hill gold deposit across the border in Niger and contains numerous active artisanal gold mine sites along its length. PDI now owns 100%, or has the rights to earn 95% to 100% of all its permits in Burkina Faso. PDI has discovered gold mineralisation on multiple prospects in Eastern Burkina Faso area during the past four years (Figure 1).

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Figure 1: Locality map of PDI permits in eastern Burkina Faso, showing location of Bongou Prospect.

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Bonsiega Project

PDI’s focus in Burkina Faso is on the high-grade Bongou gold discovery (100% PDI, Figure 1) and the surrounding area. In September 2014, a formal Mineral Resource Estimate on Bongou resulted in 184,000oz of gold in the Inferred and Indicated Mineral Resource categories with an average grade of 2.6g/t Au, including 136,000oz at 3.8g/t Au (ASX release dated 4 September, 2014).

Exploration Target

Predictive Discovery Limited (ASX:PDI) has calculated an Exploration Target on drilled prospects exclusive of but within 10km of the Bongou gold deposit. This follows the recent discovery of new zones of gold mineralisation near Bongou (ASX release dated 20[th] July 2015).

The Exploration Target detailed in the following table is estimated to be in a range of 9.4 to 10.4 million tonnes averaging between approximately 1.5 to 1.7 g/t Au and containing approximately 460,000 to 563,000 ounces of gold, as follows:

Prospect
Names
Million Tonnes Million Tonnes Grade Grade Ounces Gold Ounces Gold
(see Figure 2
for locations)
Lower
estimate
Higher
estimate
Lower
estimate
Higher
estimate
Lower
estimate
Higher
estimate
Dave 6.71 7.41 1.49 1.65 322,000 394,000
Laterite Hill 1.48 1.63 1.62 1.79 77,000 94,000
Near Bongou
(W2/W8)
0.27 0.30 1.57 1.74 14,000 17,000
Prospect 71 0.68 0.75 1.21 1.33 26,000 32,000
Target 92 0.23 0.26 2.88 3.18 21,000 26,000
Totals 9.37 10.35 1.53 1.69 460,000 563,000

The potential quantity (tonnage) and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate Mineral Resources and it is uncertain if further exploration will result in the estimation of Mineral Resources.

The calculation was restricted to prospects for which there is good evidence of mineralisation orientation and continuity. Most of these prospects are open along strike and at depth. A number of other isolated gold intercepts within 10km of Bongou were excluded, so there is significant potential to expand the Exploration Target further within range of PDI’s own drilling.

Additionally, PDI’s extensive ground holdings in Eastern Burkina Faso hold other significant prospects for which Exploration Targets could be calculated (e.g. Tambiri, Solna, Bira and Fouli).

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Figure 2: Locality map of PDI permits near Bongou in eastern Burkina Faso, showing Bongou gold deposit and prospects which make up the Exploration Target.

Data and parameters used in calculating this Exploration Target were as follows:

  • Data:

  • Gold intercepts from 291 reverse circulation holes, 4 air core holes and 5 diamond drill holes[1] were used in the calculation.

  • The holes were mostly drilled on lines spaced from 50m to 100m apart, with a spacing along the lines ranging from 10m to 50m.

  • Parameters:

  • 0.5 g/t gold cut-off grade;

  • Minimum internal waste of 3m except for a few holes where it was clear that the holes had drilled almost down-dip and where the inclusion of larger down-hole intervals of internal waste made geological sense;

1 These drilling results were reported to the ASX in the following Quarterly Reports: June Quarter 2011, March Quarter 2012, June Quarter 2012, March Quarter 2014 and June Quarter 2015. The drill results reported in these Quarterly Reports up to the June Quarterly of 2012 were prepared and first disclosed under the JORC Code 2004; they have not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

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  • Minimum downhole intercept width of 2m and a minimum grade times width intercept of 2g*m;

  • Maximum of 100m strike extent from drill holes (where the continuity of the mineralisation is supported by mapping and/or the location of artisanal workings and/or anomalous auger results);

  • Maximum of 70m vertical extent below surface;

  • Dry bulk density estimates as follows:

  • Laterite: 2.2

  • Saprolite: 1.8

  • Weathered rock between base of saprock and base of complete oxidation (BOCO): 2.3

  • Fresh mafic volcanics: 2.8

  • Fresh felsic to intermediate rocks including granite and granodiorite: 2.7

  • The calculation was carried out using a cross sectional method with volumes projected half way to the next hole (on the section) or half way to the next section to a maximum distance of 100m (along strike).

Additional Potential

Most of the zones of gold mineralisation included in the Exploration Target are open at depth and along-strike. In addition, there are a series of other mineralised intercepts which have potential for resource discovery either along strike or at depth.

Next Steps

Subject to funding availability, the Exploration Target calculation will be followed up with drilling programs on all of the listed prospects in order to make Mineral Resource Estimates. A total drilling budget of 20,000m, consisting of both RC and diamond drilling, has been calculated to complete this task, and is planned for completion over the next two years.

Planned Burkina Faso Work Program

An exploration program for the next 8 months will be planned during the December Quarter.

Côte d’Ivoire

Cote D’Ivoire Background

PDI holds four highly prospective exploration permits in Cote D’Ivoire: Kokumbo, Ferkessedougou, Boundiali and Kounahiri, covering a total area of 1,533km[2] - Kokumbo, Ferkessedougou, Boundiali

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and Kounahiri (Figure 3). These permits were selected by a country-wide analysis of geophysical and geological data. The Kokumbo permit has a gold soil anomaly covering 1 km[2] close to the historic Kokumbo mine with many values exceeding 1g/t Au, historical drill results of up to 3m at 12g/t Au and historic trench results of up to 64g/t Au.

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Figure 3: Locality map of PDI exploration permits (brown) and XMI permits/permit applications which are the subject of the Bobosso Project Agreement (subject to grant of Wendene) in Cote D’Ivoire.

PDI’s past exploration included geological mapping, ground magnetics surveying and bulk leach extractable gold (BLEG) stream sediment sampling.

Predictive is in Joint Venture with Toro Gold Limited ( Toro ), a UK-based company, on all its permits in Cote D’Ivoire. Under the terms of the Joint Venture agreement, Toro can earn a 51% interest in Predictive Discovery Cote D’Ivoire SARL (Predictive CI), which holds Predictive’s interest in the four permits, by spending US$1 million on exploration and option payments. Once Toro has achieved its 51% interest, PDI may contribute 49% of expenditure from then on or dilute. If PDI decides to dilute, Toro can earn a further 14% in Predictive CI by spending an additional US$2.5 million on exploration of the ground, leaving PDI with a 35% holding.

Toro JV

Kokoumbo Permit

Predictive CI is earning a 90% interest in the Kokumbo exploration permit in southern Cote D’Ivoire from an Ivoirian company, Ivoir Negoce. The Kokumbo permit covers an area of historic

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artisanal and French colonial era mining located in a highly prospective belt of rocks which also includes the Bonikro gold mine, currently in production by Newcrest, and Agbaou gold mine, where Endeavour Mining commenced commercial production in January 2014 (Figure 3).

Toro Exploration Program - Kokoumbo

Toro has carried out a large scale exploration program on the Kokoumbo permit, consisting of extensive geological mapping and the following sampling program:

Sample Type Number
Soil, lag and laterite 4,236
Rock chip and selective quartz vein samples 208
Spoil Heap samples 198
Channel/Trench 244
TOTAL 4,886

The results reported here relate to the soil, lag, laterite, rock chip and selected quartz vein sampling programs. Assays for most of the trench samples have not yet been received.

Toro’s rock chip sampling and selective quartz vein was focused mainly around existing artisanal workings (Figure 4). Very high grade values were obtained in places, including:

  • Bandama area, an 8 hectare site of artisanal workings, which covers part of the old Kokoumbo Mine complex. Best values were:

  • 98.2g/t Au (over 3oz/t) – selective grey quartz vein sample with visible gold and oxidised sulphides,

  • 53.5g/t Au – selective grey quartz vein sample with oxidised sulphides, and

  • 43.8g/t Au – selective grey quartz vein sample with visible gold and oxidised sulphides.

  • Outcrops 600m NW of Bandama:

  • 23.0g/t Au – block of quartz vein float, and

  • 20.3g/t Au – 1m wide milky quartz vein outcrop.

  • 43.7g/t Au - subcrop of quartz veining in metasediment, 2km west of Bandama

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Figure 4: Location of Toro soil sampling grid with location and grade of rock chip and selective quartz samples highlighted

Toro collected soil, lag and laterite samples on lines 200m apart at a sample spacing along lines of 50m. The samples were assayed for gold by fire assay at the ALS laboratory at Loughrea in Ireland. This sampling revealed extensive gold anomalous values (>20ppb Au) throughout the gridded area. Of particular interest are two large areas of gold anomalism (Figure 5):

  • A 6km long gold geochemical anomaly with peak values of 3.4 and 3.3g/t Au . This new target is of interest because:

  • It is in the same orientation as the major cross-cutting fault trend which attracted PDI to the Kokoumbo area initially,

  • It appears to be localised along a possible fault contact between granitic and mafic volcanic rocks (based on Toro’s Ti/Zr XRF measurements of selected soil samples), and

  • The north-west (downstream) end of the anomaly coincides with the very high (656ppb Au) BLEG stream sediment obtained by PDI in 2014 (reported to ASX in September 2014 Quarterly Activities Report).

  • An area of over 2 km[2] covering the historic Kokumbo workings and surrounding area. This contains peak soil values of 1.2 and 1.3g/t Au.

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Figure 5: Close-up image of gridded soil, lag and laterite gold geochemical results obtained by Toro, highlighting two major areas of interest – around the old Kokoumbo mine on Kokoumbo Hill and along a 6km long WNW-oriented gold anomaly south and west of Kokoumbo Hill.

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Figure 6: Gold soil geochemistry image showing all Toro Gold soil, lag and laterite sampling results obtained on Predictive’s Kokoumbo permit, colour-coded by gold value ranges.

Planned Follow-up Work

Toro plan to collect a further 1,666 soil and lag samples to follow up these results with infill sampling.

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Boundiali Exploration Permit

The Boundiali permit is located within a very well mineralised greenstone belt which contains the large operating Tongon and Syama gold mines in Cote D’Ivoire and Mali respectively. The southern part of this belt has had little exploration to date and represents a first class opportunity to make new large gold discoveries.

Toro Soil Program - Boundiali

Toro carried out a soil sampling program covering the entire Boundiali permit on 800m spaced lines. Samples were collected 100m apart on each line but only every other sample was submitted for analysis, resulting in a reported station spacing of 800m x 200m.

2,350 soil samples were analysed for gold by fire assay at the ALS laboratory at Loughrea in Ireland. Anomalous gold values (>20ppb Au) were found in numerous locations throughout the grid (Figure 7). Clusters of anomalous gold values on more than one line, which might be indicative of a gold ore deposit, were particularly associated with plus 4ppb gold values obtained in Predictive’s 2014 stream sediment BLEG sampling program[2] (Figure 7).

The largest cluster of anomalous gold values was obtained in the north-east part of the permit coinciding with two strong BLEG stream sediment gold values of 10.5 and 24.2ppb Au[1] (Figures 7 and 8). This zone extends over eight lines with a strike length of 5.7km , covers an area of 4.5 km[2] and includes a peak value of 790ppb Au (0.8g/t Au) . In addition, there are NNE trends apparent within the overall anomaly (Figure 8) suggesting the presence of higher grade mineralised gold structures inside a broader, possibly lower grade zone.

Given the 800 x 200m sample spacing, these are excellent soil results. A 30m wide, one kilometre long gold deposit with a 50 to 100m low grade gold halo around it might generate just three or four anomalous values in such a grid. These results are suggestive of a much larger gold mineralised system than that. In addition, outside of the NE Boundiali anomaly, there are numerous other anomalous gold values which also require follow up (Figure 7).

2 Reported to the ASX on 4th August 2014

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Figure 7: Toro Gold soil sampling grid covering the entire Boundiali exploration permit. Results in grade intervals are shown both for the Toro soil results and PDI’s earlier BLEG stream sediment sampling results (reported on 4[th] August 2014). The large NE Boundiali gold anomaly is highlighted on this map.

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Figure 8: Toro Gold soil sampling grid in the NE portion of the Boundiali exploration permit. Results in grade intervals are shown both for the Toro soil results and PDI’s earlier BLEG stream sediment sampling results (reported on 4[th] August 2014). Multi-line NNE gold anomalous trends within the broader NE Boundiali anomaly are highlighted.

Planned Follow-up Work

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Toro plan to follow up these results by:

  • Submitting 100m spaced samples adjacent to anomalous gold values which have already been collected, and

  • Infill sampling on 200m spaced lines along strike from anomalous gold values.

This work will commence soon with results expected in November-December, 2015.

Ferkessedougou and Kounahiri Exploration Permits

2,065 soil, 37 lag/laterite and 30 rock chip samples were collected on the Ferkessedougou permit.

3,835 soil samples were collected on the Kounahiri permit.

Results will be reported during the December Quarter.

Bobosso Project, Cote D’Ivoire

Introduction

The Bobosso Project consists of a granted exploration permit (Bassawa) and a permit application (Wendene) in northern Cote D’Ivoire (Figure 3). Predictive has been advised that the Wendene permit application has passed through the required internal government approval processes and awaits presentation to the Cote D’Ivoire Government’s Council of Ministers for grant. This is expected after completion of the current national election period.

Applications for Bassawa and Wendene were both made by an Ivoirian Company, XMI SARL ( XMI ). XMI also holds another permit application, Niakaramandougou, which is located south-west of Predictive’s Ferkessedougou permit (Figure 3). The Bassawa permit was granted by decree n°2015-570 dated 29 July 2015. Bassawa and Wendene each cover an area of 400km[2] . Niakaramandougou covers 399 km[2] .

Bassawa and Wendene are located in the southern extension of the well mineralised Hounde Belt in Burkina Faso, which includes Semafo’s Mana Mine (5Moz in ore resources and reserves[3] ).

Both permit areas were previously covered by a single exploration permit that was granted to Equigold in 1997, then passed onto Lihir Gold Limited and subsequently to Newcrest Mining Limited following the successive mergers of those companies. Predictive understands that the ground was surrendered last year because of the age of the permit, which was well beyond the normal time for exploration envisaged by the Cote D’Ivoire Mines Administration.

The reported geology of the area includes mafic volcanics, sediments and intrusive rocks of variable composition including diorites and granites.

3 See http://www.semafo.com/English/operations-and-exploration/reserves-and-resources/default.aspx

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Historical Exploration Results - Bobosso

XMI has provided PDI with a historical exploration database including technical reports. This has been validated by a visit to the main drilled area and sighting some of the historic drill collars in their correct locations. Subsequently, many of the original drill assay data certificates have also been obtained.

The Equigold and Lihir Gold Limited historical RC and diamond drilling on the Wendene permit application consisted of 569 RC and 11 diamond drill holes. This work followed up soil sampling and widely spaced RAB drill lines on both the Wendene and Bassawa permits.

The historical soil sampling obtained many anomalous results over the Bassawa permit and Wendene permit application (Figure 9). Of particular note is a 7km[2] area in Wendene in which most of the values are above 100ppb Au (Figures 10, 15 and 16). This area contains 729 soil samples with an average arithmetic value of 394ppb Au ( 0.39g/t Au ) and peak values of 39.8g/t Au , 20.2g/t Au and 6.89g/t Au . There are numerous plus 100ppb Au anomalous values outside of this area, many of which are untested by any drilling.

569 RC holes and 11 diamond drill holes were completed in the area of the 7km[2] anomaly (Figure 11). Of these, 221 holes contained at least one 2gxm intercept[4] at a cut-off grade of 0.5 g/t Au. Most of these intercepts were at shallow depths. The average (vertical) depth tested by drilling was approximately 80m.

All RC and diamond drill intercepts are reported in the drill results table at the end of this release. High-grade and/or wide mineralised intercepts recorded in the database include the following:

  • BRC047: 32m at 1.93g/t Au from 12m

  • BRC053: 2m at 29.70g/t Au from 0m

  • BRC083: 5m at 20.60g/t Au from 48m

  • BRC097: 7m at 5.36g/t Au from 17m

  • BRC262: 35m at 1.56g/t Au from 65m

  • BRC278: 7m at 9.52g/t Au from 26m

  • BRC311: 2m at 29.16g/t Au from 66m

  • BRC343: 25m at 1.45g/t Au from 11m

  • BRC552: 9m at 5.01g/t Au from 4m

  • BRC557: 31m at 1.18g/t Au from 59m

  • BRC561: 9m at 4.21g/t Au from 12m

4 e.g. 1m at 2g/t Au or 4m at 0.5g/t Au

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Figure 9: Bobosso gold geochemical anomaly on satellite imagery background

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Figure 10: Bobosso gold in soil geochemical anomaly showing values in assay intervals and historical

RC and DD holes.

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Predictive makes the following observations about the Bobosso project:

  • The drilled area covers a major gold mineralised system with numerous separate zones of gold mineralisation, apparently with variable vein and/or mineralised shear orientations.

  • Gold mineralisation continuity is not the same everywhere. In places, convincing continuity can be seen (e.g. Figures 12 and 14). Elsewhere, continuity is not as clear. This may be due, in part, to holes having been drilled in the wrong direction (e.g. Figure 13). Field observations of foliation angle by Predictive geologists tend to support this idea. Some mineralisation may also be present as thin veins with limited strike extent.

  • Elevated gold values near surface are quite common, and help explain the very large gold anomaly. These values may be explained by partly lateritised alluvium/colluvium formed by erosion of the underlying mineralisation. In places, continuity of these near-surface values from hole to hole is clear (e.g. Figure 14). Such zones offer the potential for early low cost gold production from this site.

  • Gold grades in unweathered rocks are associated with elevated levels of quartz and/or pyrite.

  • Geologically logged primary rock types include andesite, basalt, diorite and lesser felsic schists, tuffs and granite. Some inconsistencies between the geology of adjacent holes have been noted, which suggests that re-logging will be required. Predictive understands that the RC drill chips still exist and could be available for re-logging by Predictive geologists. Re-logging of the geology and systematic XRF measurements of chips and drill core will offer a good opportunity to both better understand mineralisation continuity and plan follow-up drilling.

  • According to the historical drill logs, the depth of weathering averages about 30m.

  • Most of the historical drilling was conducted on 200m spaced drill lines. It is unlikely that a formal resource estimation could be made using such widely spaced drill lines. Nevertheless, Predictive believes that, when supported by the results of new infill drilling, this data is sufficiently well documented for use in a future resource calculation because:

  • the digital database includes hole collar information, downhole survey data, assays, geological logs and drill core photography,

  • based on Predictive’s field visit, many hole collar markers appear to be intact, allowing validation of the drill locations by an independent expert, and

  • most of the RC drill gold analysis certificates are now held by Predictive.

  • Few or no villagers live or farm directly on the Bobosso gold in soil geochemical anomaly. There are signs of recent artisanal mining activity but PDI is informed that Government officials have recently been actively discouraging artisanal mining in this area. Predictive is informed that past explorer relationships with the local villagers were positive.

  • Local infrastructure is generally quite good. The nearest town, Dabakala, is connected to Cote D’Ivoire’s sealed road network and is a 90 minute drive from the project area. There

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is also a substantial power line which runs within a few kilometres of the Bobosso gold anomaly.

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Figure 11: Bobosso gold in soil geochemical anomaly showing location of all historical RC holes, highlighting all holes with gold intercepts of at least 2 g x m and showing cross section locations

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Figure 12: Drill cross section 1 – showing zone with good continuity from hole to hole. Note also apparent enrichment in gold values and widths in near surface weathered zone.

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Figure 13: Drill cross section 2 – illustrating uncertain hole to hole continuity with possibility of mineralised zones dipping near parallel to historical drill holes. Note also high grade BRC083 intercept

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Figure 14: Drill cross section 3 – showing near surface, possibly partly lateritised colluvial/alluvial gold zone. Note high grade, shallow BRC553 intercept.

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Figure 15: Historical gold in soil and rock chip geochemical values for Wendene permit application.

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Figure 16: Historical gold in soil and rock chip geochemical values for Bassawa permit.

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Agreement with XMI

Key terms of the agreement are as follows:

  • The agreement is subject to grant of the Wendene permit, which is expected in the next few months.

  • Equity in the project will be earned through a holding company in the UK - Exploration and Mining Investments Limited ( EMIL ).

  • On grant of Wendene, PDI will invest £27,000 (Approximately A$58,000) into EMIL and obtain 15% of that company.

  • PDI will have an exclusive right for six months to raise capital to progress the project. This capital may be provided in part or in whole by PDI or third party investors arranged by PDI.

  • Subject to completion of a successful initial capital raising of at least £500,000 within 6 months of the grant of Wendene, Predictive will have the first right of refusal to raise funds into EMIL for two years from the date of grant.

  • Predictive’s team will manage exploration of the project.

The benefits of this agreement are that:

  • PDI’s initial outlay is modest but will immediately give the Company a 15% equity in the project. The initial investment will be paid only after the Wendene permit has been granted,

  • The agreement maximises PDI’s flexibility by allowing investment at the project level or at the parent company level.

  • Predictive’s technical team will be able to manage exploration of the project in a highly cost effective way, and with minimal overheads.

  • The two year right to raise funds into EMIL maximises PDI’s ability to retain control of the project.

The owners of XMI will play a key role in the ongoing management of EMIL. Their representative, Mr Eric Kondo, will hold an EMIL Board seat and will be a member of the executive committee which will run EMIL on a day-to-day basis. Mr Kondo will also provide critical in-country support in regards to the administration of XMI, government and community relationships. The technical program, which will constitute the major activity of EMIL and XMI, will be managed by Predictive’s Managing Director, Mr Paul Roberts.

Planned Work Program - Bobosso

Following the successful initial project capital raising the planned work program is as follows:

  • Geological mapping of the principal Bobosso mineralised area,

  • Re-logging of RC and diamond drill samples of key mineralised areas, including XRF logging to more accurately distinguish rock types. Logging of orientated drill core may provide a clearer picture of mineralised lode orientations;

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  • Ground follow-up of gold anomalous areas throughout the two permits to identify potential future drill targets;

  • Metallurgical test work of shallow gold-bearing material;

  • Drill planning based on 3D interpretations of target mineralised zones based on the relogging program and surface geological mapping;

  • Depending on funds availability, an initial drilling program aimed at understanding mineralisation continuity in high priority areas.

Australia

Cape Clear EL 5434, Victoria

Exploration Licence 5434 is located west of Ballarat in Victoria (Figure 17). It was granted to PDI in August 2013. The area is highly prospective for shallowly concealed Stawell-style gold mineralisation. PDI has previously carried out geological mapping and a gravity survey over part of the EL area.

Execution of a binding joint venture agreement with Cape Clear Minerals Pty Ltd (CCM) on this EL was announced to the ASX on 22[nd] September 2014. CCM can earn 75% equity in the licence by spending $500,000 on exploration, including at least 1,000m of drilling prior to the end of the September Quarter 2015.

CCM commenced a three hole diamond drilling program, totalling 1,400m on 8[th] October 2015. Results are expected in the December Quarter.

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Figure 17: Cape Clear Exploration Licence Locality Plan

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CORPORATE

Cash Position

PDI held $348,000 in cash at the end of the September Quarter with no debt.

TABLE 1 – KOKOUMBO SOIL, LAG, LATERITE AND ROCK CHIP SAMPLE RESULTS

Geochemical Results

TABLE 1 – KOKOUMBO SOIL, LAG, LATERITE AND ROCK CHIP SAMPLE
RESULTS
TABLE 1 – KOKOUMBO SOIL, LAG, LATERITE AND ROCK CHIP SAMPLE
RESULTS
TABLE 1 – KOKOUMBO SOIL, LAG, LATERITE AND ROCK CHIP SAMPLE
RESULTS
TABLE 1 – KOKOUMBO SOIL, LAG, LATERITE AND ROCK CHIP SAMPLE
RESULTS
TABLE 1 – KOKOUMBO SOIL, LAG, LATERITE AND ROCK CHIP SAMPLE
RESULTS
TABLE 1 – KOKOUMBO SOIL, LAG, LATERITE AND ROCK CHIP SAMPLE
RESULTS
TABLE 1 – KOKOUMBO SOIL, LAG, LATERITE AND ROCK CHIP SAMPLE
RESULTS
TABLE 1 – KOKOUMBO SOIL, LAG, LATERITE AND ROCK CHIP SAMPLE
RESULTS
TABLE 1 – KOKOUMBO SOIL, LAG, LATERITE AND ROCK CHIP SAMPLE
RESULTS
TABLE 1 – KOKOUMBO SOIL, LAG, LATERITE AND ROCK CHIP SAMPLE
RESULTS
Geochemical Results
Sample
numbers
Northing
(WGS84-
30N)
Easting
(WGS84 –
30N)
RL Hole
dips
Azimuth Hole Depth From Interval Au (ppb)
Toro sample
numbers in the
range10001-
15337
Refer to
Figures 2-4 for
map locations
of all samples
Refer to
Figures 2-4
for map
locations of
all samples
See
notes

Not
relevant
to the
samples
described
in this
report
Not
relevant
to the
samples
described
in this
report
Soil samples were collected
from 10-50cm depth. Lag,
laterite, rock chip and selective
quartz samples were collected
from surface or within artisanal
mine openings
Not
relevant
to the
samples
described
in this
report
Not
relevant
to the
samples
described
in this
report
See notes
and Figures
2-4
Notes: Soil and lag sampling are reconnaissance exploration techniques. In the sampling and sample preparation method used
by Toro, soil samples were collected from shallow holes and dried and subsampled at a local field camp. The prepared samples
were then sent to the ALS laboratory in Loughrea in Ireland for fire assay analysis. Rock chip and laterite samples were
collected from outcrops and from within artisanal mine openings. Selective quartz samples consisted of the quartz material
extracted selectively from larger rock chip samples that also contained country rock material. The RL ranges for the Kokumbo
permit is 133-483m. Individual RLs are not reported in this announcement because they are not relevant to interpreting
geochemical data of this type.

Section 1: Sampling Techniques and Data

Section 1: Sampling Techniques and Data Section 1: Sampling Techniques and Data Section 1: Sampling Techniques and Data
Criteria
Sampling Technique
JORC Code
Explanation
Commentary
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
downhole 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
casesmore explanation may be
The sampling described in this report refers samples obtained
from the Kokoumbo exploration permit in Cote D’Ivoire.
The soil and lag samples were collected from shallow holes
with depths between 10 and 50cm and the laterite, rock chip
and selective quartz samples were collected from outcrops and
artisanal mine openings.

21

==> picture [596 x 77] intentionally omitted <==

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
detailedinformation.
Drilling 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).
This is not relevant to a rock and soil sampling program.
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.
This is not relevant to a rock and soil sampling program.
Logging Whether core and chip samples have
been geologically and geotechnical
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/Trench, channel, etc)
photography.
The total length and percentage of the
relevant intersections logged.
Rock chip sample lithologies and textures are described in some
detail. Soil, lag and laterite samples are described in terms of soil
type, regolith and landscape classification and colour. Descriptions
are largely qualitative.
Sub-Sampling
Technique 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 beingsampled.
The sample preparation method is appropriate and standard for soil
and lag samples of this type. Rock chip samples were generally
intentionally selective.

22

==> picture [596 x 77] intentionally omitted <==

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.
The analytical method used has a very low (1ppb Au) detection
limit which is appropriate for samples of this type.
Verification of
Sampling and
Assaying
The verification of significant
intersections by either independent or
alternative company personnel.
The use of twinned holes The
verification of significant intersections
by either independent or alternative
company personnel. Discuss any
adjustment to assay data
This is not relevant to a rock and soil sampling program.
Location of Data points Accuracy and quality of surveysused
tolocate 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
Coordinates shown on the locality maps (Figures 2-4) are for
Universal Transverse Mercator (UTM), Datum WGS 84, Zone 30 -
Northern Hemisphere.
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 soil sampling grid was 200 x 50m and is considered
appropriate for exploring this well mineralised area. No
Mineral Resource can be estimated from these data.
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 samples were collected along lines which were designed
cross cut the interpreted geological features in the area,
including variously orientated structural trends and interpreted
lithological contacts.
Sample Security The measures taken to ensure sample
security
Samples are stored securely at Toro Gold’s field office in
Yamoussoukro.
Audits or Reviews The results of any audits or reviews
of sampling techniques and data
No audits or reviews of sampling techniques and data have
been carried out given the reconnaissance nature of this
sampling program.
Section 2 Reporting of Exploration Results

23

==> picture [596 x 77] intentionally omitted <==

Mineral Tenement and
Land Tenure Status
Type, reference name/number, location
and ownership including agreements or
material issues with third partiessuch
asjoint 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
operateinthe area.
The Kokumbo exploration permit was granted in June 2013.
PDI Cote D’Ivoire SARL is earning a 90% interest in the
Kokumbo permit from local partner, Ivoir Negoce. PDI Cote
D’Ivoire SARL is a wholly owned subsidiary of PDI. Toro Gold
Limited may earn a 51% interest in PDI Cote D’Ivoire SARL by
spending US$1 million.
Exploration Done by
Other Parties
Acknowledgment and appraisal of
exploration by other parties.
Extensive historical exploration has been carried out on the
Kokumbo permit and was acknowledged and described in PDI’s
release to theASXdated10/6/14.
Geology Deposit type, geological setting and
style of mineralisation.
The geology of Kokoumbo consists of granite,
metasediments, mafic volcanics and intrusives, and
conglomerates. Quartz-vein hosted mineralisation observed
at Kokoumbo is considered to be of the orogenic gold type.
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:

easting and northing of the drill
hole collar

elevation or RL (Reduced Level –
elevation above sea level in
metres) of the drill hole collar

dip and azimuth of the hole

down hole length and interception
depth

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.
This is not relevant to a rock and soil sampling program.
Sample coordinate information is provided in Table 1 and on
the maps included in this release.
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.
This is not relevant to a rock and soil sampling program..
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’).
This is not relevant to a rock and soil sampling program.

24

==> picture [596 x 77] intentionally omitted <==

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.
Appropriate plans showing the locations of the soil, lag,
laterite, rock chip and selective quartz samples, classified
by results, are shown in this release.
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
reportingof Exploration Results.
All soil, lag, laterite, rock chip and selective quartz sample
results have been reported.
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.
All relevant, new exploration data is reported in this release.
Further Work The nature and scale of planned further
work (eg tests for lateral 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 commerciallysensitive.


Follow-up infill soil sampling, totalling 1,666 samples, is
planned on the permit as outlined in this release.

TABLE 2 – BOUNDIALI SOIL SAMPLING RESULTS

Sample
numbers
Northing
(WGS84-
30N)
Easting
(WGS84 –
30N)
RL Hole
dips
Azimuth Hole Depth From Interval Au (ppb)
Toro sample
numbers in the
range14350-
15000 and
16002-20189.
In general.
Every second
sample was
submitted for
gold analysis
Refer to
Figures 2-3 for
map locations
of all samples
Refer to
Figures 2-3
for map
locations of
all samples
See
notes

Not
relevant
to the
samples
described
in this
report
Not
relevant
to the
samples
described
in this
report
Soil samples were collected
from 10-50cm depth
Not
relevant
to the
samples
described
in this
report
Not
relevant
to the
samples
described
in this
report
See notes
and Figures
2-3
Notes: Soil sampling is a reconnaissance exploration technique. In the sampling and sample preparation method used by Toro,
soil samples were collected from shallow holes and dried and subsampled at a local field camp. The prepared samples were
then sent to the ALS laboratory in Loughrea in Ireland for fire assay analysis. RL ranges for the Boundiali permit are 360 to
442m. Individual RLs are not reported in this announcement because they are not relevant to interpreting geochemical data of
this type.

Section 1: Sampling Techniques and Data

JORC Code

Criteria

Explanation

Nature and quality of sampling (eg cut Sampling Technique channels, random chips, or specific specialised industry standard

Commentary

The sampling described in this report refers samples obtained from the Boundiali exploration permit in Cote D’Ivoire.

25

==> picture [596 x 77] intentionally omitted <==

measurement tools appropriate to the
minerals under investigation, such as
downhole 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
detailedinformation.
The soil and lag samples were collected from shallow holes
with depths between 10 and 50cm.
Drilling 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).
This is not relevant to a soil sampling program.
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.
This is not relevant to a soil sampling program.
Logging Whether core and chip samples have
been geologically and geotechnical
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/Trench, channel, etc)
photography.
The total length and percentage of the
relevant intersections logged.
Soil samples are described in terms of soil type, regolith and
landscape classification and colour. Descriptions are largely
qualitative.
Sub-Sampling
Technique 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
representivityof samples.
The sample preparation method is appropriate and standard for soil
samples of this type.

26

==> picture [596 x 77] intentionally omitted <==

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 beingsampled.
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.
The analytical method used has a very low (1ppb Au) detection
limit which is appropriate for samples of this type.
Verification of
Sampling and
Assaying
The verification of significant
intersections by either independent or
alternative company personnel.
The use of twinned holes The
verification of significant intersections
by either independent or alternative
company personnel. Discuss any
adjustment to assay data
This is not relevant to a soil sampling program.
Location of Data points Accuracy and quality of surveysused
tolocate 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
Coordinates shown on the locality maps (Figures 2-3) are for
Universal Transverse Mercator (UTM), Datum WGS 84, Zone 29 -
Northern Hemisphere.
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 soil sampling grid was 800 x 200m and is considered
appropriate for a reconnaissance exploration grid of this
type. No Mineral Resource can be estimated from these
data.
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 samples were collected along lines which were designed
to cross cut the interpreted bedding and foliation strike
orientations in permit.

27

==> picture [596 x 77] intentionally omitted <==

Sample Security The measures taken to ensure sample
security
Samples are stored securely at Toro Gold’s field office in
Yamoussoukro.
Audits or Reviews The results of any audits or reviews
of sampling techniques and data
No audits or reviews of sampling techniques and data have
been carried out given the reconnaissance nature of this
sampling program.
Section 2 Reporting of Exploration Results
Mineral Tenement and
Land Tenure Status
Type, reference name/number, location
and ownership including agreements or
material issues with third partiessuch
asjoint 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 Boundiali exploration permit was granted to PDI Cote
D’Ivoire SARL in January 2014.Toro Gold Limited may earn a
51% interest in PDI Cote D’Ivoire SARL by spending US$1
million.
Exploration Done by
Other Parties
Acknowledgment and appraisal of
exploration by other parties.
PDI is not aware of any effective gold exploration over the
Boundiali permit however historic records are incomplete at the
CoteD’Ivoire governmentgeologicalagency.
Geology Deposit type, geological setting and
style of mineralisation.
The geology of the Boundiali permit consists of granite,
metasediments, mafic volcanics and intrusives, and
conglomerates.
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:

easting and northing of the drill
hole collar

elevation or RL (Reduced Level –
elevation above sea level in
metres) of the drill hole collar

dip and azimuth of the hole

down hole length and interception
depth

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.
This is not relevant to a soil sampling program. Sample
coordinate information is provided in Table 1 and on the maps
included in this release.
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.
This is not relevant to a soil sampling program..
Relationship Between
Mineralisation Widths
and Intercept Lengths
These relationships are particularly
important in the reporting of Exploration
Results
If thegeometryof the mineralisation
This is not relevant to a soil sampling program.

28

==> picture [596 x 77] intentionally omitted <==

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’).
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.
Appropriate plans showing the locations of the soil
samples, classified by results, are shown in this release.
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.
Results from all assayed soil samples have been reported.
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.
All relevant, new exploration data is reported in this release.
Further Work The nature and scale of planned further
work (eg tests for lateral 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 commerciallysensitive.


Follow-up infill soil sampling is planned on the permit as
outlined in this release.

TABLE 3 – HISTORICAL BOBOSSO RC AND DIAMOND DRILL RESULTS

Hole
No.
UTM_E
(WGS84,
Zone 30N)
UTM_N
(WGS84,
Zone
30N)
RL Azimuth Hole
dip
Total
Depth
0.5g/t Au cut-offgrade 0.5g/t Au cut-offgrade 0.5g/t Au cut-offgrade 0.75g/t Au cut-offgrade 0.75g/t Au cut-offgrade 0.75g/t Au cut-offgrade
Depth
from
Interval Au
(g/t)
Depth
from
Interval Au
(g/t)
BDD001
380234
943431 281 105.0 -60 151.6 0.0
2.0

4.40

0.0

2.0

4.40
BDD001
380234
943431 281 105.0 -60 151.6 21.0
9.0

1.85

21.0

2.0

2.45
BDD001
380234
943431 281 105.0 -60 151.6 26.0
4.0

2.83
BDD001
380234
943431 281 105.0 -60 151.6 48.3
4.7

1.22

48.3

4.7

1.22
BDD001
380234
943431 281 105.0 -60 151.6 97.0
7.0

3.70

97.0

5.3

4.66
BDD002
380156
943452 282 105.0 -60 164.0 24.0
4.0

0.69
BDD003
379485
943422 279 140.0 -55 155.2 94.0
14.0

2.06

94.0

4.0

1.51
BDD003
379485
943422 279 140.0 -55 155.2 101.0
7.0

3.03
BDD003
379485
943422 279 140.0 -55 155.2 114.0
2.0

1.86
114.0
1.0

3.05
BDD003
379485
943422 279 140.0 -55 155.2 121.7
4.3

1.20
121.7
1.1

3.62
BDD003
379485
943422 279 140.0 -55 155.2 134.0
11.0

1.23
134.0
11.0

1.23
BDD004
378381
943405 251 140.0 -55 175.2 131.2
9.8

1.48
131.2
4.8

2.53
BDD005
378380
943324 253 110.0 -60 130.0 83.5
6.5

1.80

83.5

6.5

1.80
BDD006
380846
944315 280 105.0 -50 202.6
BDD007
380460
943576 271 95.0 -60 166.9

29

==> picture [596 x 77] intentionally omitted <==

BDD008
380095
943371 288 116.0 -60 296.7 113.0
3.0

0.67
BDD008
380095
943371 288 116.0 -60 296.7 153.0
9.0

3.30
155.0
1.0
25.68
BDD008
380095
943371 288 116.0 -60 296.7 175.0
4.0

0.85
175.0
2.0

1.11
BDD008
380095
943371 288 116.0 -60 296.7 280.0
3.0

1.51
280.0
3.0

1.51
BDD009
379636
943272 297 116.0 -60 251.0 0.0
30.0

1.00

0.0

3.0

1.50
BDD009
379636
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BDD009
379636
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14.0

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BDD009
379636
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75.0

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379636
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44.0

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54.0

2.0

1.51
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70.0

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74.0

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0.0

2.0

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30

==> picture [596 x 77] intentionally omitted <==

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62.0

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18.0

2.0

1.27
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44.0

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50.0

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12.0

24.0

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40.0

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1.21
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1.10
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1.16

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1.16
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31

==> picture [596 x 77] intentionally omitted <==

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78.0

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6.0

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1.21

34.0

2.0

1.21

32

==> picture [596 x 77] intentionally omitted <==

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8.0

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2.31

56.0

4.0

2.31

33

==> picture [596 x 77] intentionally omitted <==

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1.27
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72.0

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2.20
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25.0

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1.17
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6.0

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46.0

2.0

1.79
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63.0

7.0

1.64
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BRC193 378848 942352 243 105.0 -60 80.0

34

==> picture [596 x 77] intentionally omitted <==

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2.0

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1.68
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80.0

4.0

2.02
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5.40

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5.40
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41.0

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1.42
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35

==> picture [596 x 77] intentionally omitted <==

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2.0

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51.0

8.0

1.02
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65.0

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62.0

2.0

1.28
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41.0

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1.04
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26.0

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63.0

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36

==> picture [596 x 77] intentionally omitted <==

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37

==> picture [596 x 77] intentionally omitted <==

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5.0

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1.85
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25.0

2.0

1.13
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38

==> picture [596 x 77] intentionally omitted <==

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49.0

1.0

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56.0

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92.0

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5.37

1.0

2.0

5.37
BRC397 380991 944481 280 115.0 -60 90.0 48.0
2.0

1.42

48.0

2.0

1.42
BRC398 380953 944489 280 115.0 -60 102.0
BRC399 380913 944499 280 115.0 -60 108.0
BRC400 380875 944508 280 115.0 -60 111.0
BRC401 380838 944518 280 115.0 -60 117.0 25.0
7.0

1.79

25.0

7.0

1.79
BRC401 380838 944518 280 115.0 -60 117.0 56.0
2.0

1.53

56.0

2.0

1.53
BRC401 380838 944518 280 115.0 -60 117.0 72.0
2.0

1.84

72.0

2.0

1.84
BRC401 380838 944518 280 115.0 -60 117.0 91.0
2.0

1.74

91.0

1.0

3.23
BRC402 380796 944530 280 115.0 -60 91.0
BRC403 380270 944257 281 115.0 -60 80.0
BRC404 380230 944266 281 115.0 -60 84.0
BRC405 380194 944278 281 115.0 -60 84.0
BRC406 380152 944287 282 115.0 -60 93.0
BRC407 380117 944301 281 115.0 -60 90.0
BRC408 380672 944979 282 115.0 -60 91.0 59.0
2.0

2.10

59.0

1.0

4.04
BRC409 380633 944990 282 115.0 -60 84.0
BRC410 380590 944998 282 115.0 -60 85.0
BRC411 380553 945010 282 115.0 -60 97.0
BRC412 380525 945030 282 115.0 -60 85.0
BRC413 380476 945034 282 115.0 -60 88.0
BRC414 380437 945041 281 115.0 -60 97.0
BRC415 380399 945052 281 115.0 -60 103.0
BRC416 380362 945061 281 115.0 -60 110.0
BRC417 381212 944832 276 115.0 -60 91.0
BRC418 381174 944843 276 105.0 -60 117.0
BRC419 380798 945150 282 115.0 -60 85.0
BRC420 380760 945162 282 115.0 -60 97.0
BRC421 380720 945173 283 115.0 -60 109.0
BRC422 380680 945183 283 115.0 -60 130.0
BRC423 380646 945194 283 115.0 -60 115.0
BRC424 380604 945207 283 115.0 -60 118.0
BRC425 380567 945217 283 115.0 -60 117.0
BRC426 380464 944829 281 115.0 -60 95.0

39

==> picture [596 x 77] intentionally omitted <==

BRC427 380425 944839 281 115.0 -60 115.0
BRC428 380386 944848 281 115.0 -60 109.0
BRC429 380349 944858 281 115.0 -60 91.0
BRC430 380310 944869 280 115.0 -60 116.0
BRC431 380272 944880 280 115.0 -60 82.0
BRC432 380233 944891 280 115.0 -60 85.0
BRC433 380194 944900 280 115.0 -60 91.0
BRC434 380157 944910 280 115.0 -60 110.0
BRC435 380115 944921 280 115.0 -60 125.0
BRC436 380073 944927 280 115.0 -60 121.0
BRC437 381597 944728 275 115.0 -60 97.0
BRC438 381558 944738 275 115.0 -60 80.0
BRC439 381520 944751 275 115.0 -60 93.0
BRC440 381480 944762 276 115.0 -60 111.0
BRC441 381443 944771 275 115.0 -60 132.0
BRC442 381403 944783 276 115.0 -60 124.0
BRC443 381366 944792 275 115.0 -60 106.0
BRC444 381327 944805 275 115.0 -60 102.0
BRC445 381290 944812 276 115.0 -60 109.0
BRC446 381251 944826 275 115.0 -60 102.0
BRC447 381134 944857 276 115.0 -60 121.0 17.0
2.0

2.39

17.0

1.0

4.13
BRC447 381134 944857 276 115.0 -60 121.0 95.0
3.0

0.71
BRC448 381094 944866 276 115.0 -60 133.0
BRC449 381935 943802 295 115.0 -60 100.0
BRC450 381894 943815 295 115.0 -60 85.0
BRC451 381857 943824 294 115.0 -60 85.0
BRC452 381823 943836 293 115.0 -60 91.0
BRC453 381784 943847 292 115.0 -60 82.0
BRC454 381746 943857 292 115.0 -60 91.0
BRC455 381706 943864 290 115.0 -60 80.0 56.0
4.0

1.90

56.0

3.0

2.29
BRC456 381668 943876 289 115.0 -60 82.0
BRC457 381630 943886 287 115.0 -60 85.0
BRC458 381592 943896 286 115.0 -60 85.0
BRC459 380750 943708 270 115.0 -60 82.0
BRC460 380708 943727 270 115.0 -60 84.0
BRC461 380670 943736 270 115.0 -60 97.0
BRC462 380631 943746 271 115.0 -60 85.0 3.0
2.0

1.61

3.0

1.0

3.14
BRC463 380589 943754 272 115.0 -60 94.0 18.0
2.0

4.33

18.0

1.0

8.61
BRC464 380554 943769 274 115.0 -60 92.0 64.0
2.0

1.31

65.0

1.0

2.49
BRC465 380514 943780 275 115.0 -60 56.0
BRC466 380476 943789 278 115.0 -60 102.0
BRC467 380438 943798 279 115.0 -60 93.0
BRC468 380398 943808 280 115.0 -60 115.0
BRC469 380361 943819 281 115.0 -60 91.0
BRC470 380320 943829 282 115.0 -60 97.0
BRC471 380283 943841 282 115.0 -60 99.0
BRC472 380244 943850 282 115.0 -60 100.0
BRC473 379810 943525 287 115.0 -60 87.0 51.0
2.0

2.28

51.0

2.0

2.28
BRC474 379710 943544 284 115.0 -60 100.0 89.0
2.0

2.19

89.0

2.0

2.19
BRC475 379611 943576 282 115.0 -60 103.0
BRC476 379509 943611 280 115.0 -60 88.0
BRC477 379409 943635 277 115.0 -60 88.0
BRC478 379308 943663 272 115.0 -60 109.0 0.0
2.0

1.87

0.0

2.0

1.87
BRC479 379179 943690 268 115.0 -60 85.0

40

==> picture [596 x 77] intentionally omitted <==

BRC480 378708 942795 252 115.0 -60 103.0
BRC481 378612 942815 254 115.0 -60 96.0
BRC482 378516 942844 255 115.0 -60 83.0
BRC483 378417 942871 255 115.0 -60 84.0 2.0
2.0

2.07

2.0

2.0

2.07
BRC484 378322 942903 254 115.0 -60 105.0 7.0
5.0

0.85

7.0

1.0

2.42
BRC484 378322 942903 254 115.0 -60 105.0 56.0
2.0

2.30

56.0

2.0

2.30
BRC484 378322 942903 254 115.0 -60 105.0 66.0
3.0

1.18

66.0

3.0

1.18
BRC485 378149 943156 250 115.0 -60 94.0
BRC486 378113 943165 250 105.0 -60 109.0 31.0
2.0

3.13

31.0

2.0

3.13
BRC487 378076 943174 248 105.0 -60 109.0 6.0
2.0

6.23

6.0

1.0
12.40
BRC488 378036 943186 247 105.0 -60 100.0 39.0
2.0
11.63
39.0

2.0
11.63
BRC489 378000 943198 246 105.0 -60 89.0 13.0
2.0

7.66

13.0

2.0

7.66
BRC490 377966 943205 246 105.0 -60 85.0 56.0
4.0

0.71

56.0

4.0

0.71
BRC490 377966 943205 246 105.0 -60 85.0 66.0
2.0

2.03

66.0

1.0

4.03
BRC491 377925 943220 244 105.0 -60 97.0
BRC492 377883 943230 243 105.0 -60 91.0
BRC493 378806 943375 260 105.0 -60 97.0
BRC494 378708 943410 258 105.0 -60 91.0
BRC495 380209 942771 286 105.0 -60 91.0 1.0
2.0

1.61

1.0

2.0

1.61
BRC496 380174 942777 287 105.0 -60 97.0 30.0
3.0

1.13

30.0

3.0

1.13
BRC497 380245 942757 283 105.0 -60 88.0 28.0
4.0

0.98

28.0

4.0

0.98
BRC498 379690 942941 285 105.0 -60 96.0
BRC499 379593 942965 279 105.0 -60 109.0 87.0
8.0

2.17

87.0

8.0

2.17
BRC499 379593 942965 279 105.0 -60 109.0 107.0
2.0

1.51
108.0
1.0

3.01
BRC500 379495 942994 273 105.0 -60 95.0
BRC501 379409 943019 269 105.0 -60 85.0
BRC502 379520 942572 265 105.0 -60 94.0
BRC503 379425 942595 264 105.0 -60 103.0
BRC504 379332 942622 263 105.0 -60 109.0 73.0
2.0

1.42

73.0

2.0

1.42
BRC505 379235 942651 263 105.0 -60 88.0
BRC506 380836 942608 267 105.0 -60 91.0
BRC507 380796 942620 268 105.0 -60 91.0
BRC508 380762 942643 269 105.0 -60 91.0
BRC509 380727 942727 270 105.0 -60 96.0 0.0
3.0

1.17

0.0

3.0

1.17
BRC510 380674 942672 271 105.0 -60 91.0 7.0
7.0

4.96

7.0

7.0

4.96
BRC511 380641 942682 272 105.0 -60 85.0 66.0
2.0

6.05

67.0

1.0
11.75
BRC512 380598 942690 274 105.0 -60 81.0
BRC513 380447 942962 283 105.0 -60 91.0
BRC514 380410 942970 286 105.0 -60 89.0
BRC515 380372 942980 287 105.0 -60 85.0
BRC516 379927 942875 289 105.0 -60 103.0 84.0
2.0

6.77

85.0

1.0
13.00
BRC517 379889 942887 287 105.0 -60 113.0 13.0
3.0

1.12

13.0

3.0

1.12
BRC517 379889 942887 287 105.0 -60 113.0 102.0
3.0

2.58
103.0
2.0

3.59
BRC518 379851 942900 287 105.0 -60 109.0
BRC519 379810 942906 285 105.0 -60 105.0 1.0
7.0

0.94

1.0

7.0

0.94
BRC519 379810 942906 285 105.0 -60 105.0 91.0
3.0

2.71

92.0

2.0

3.69
BRC519 379810 942906 285 105.0 -60 105.0 99.0
3.0

2.27

99.0

3.0

2.27
BRC520 379773 942913 287 105.0 -60 95.0 1.0
4.0

0.94

1.0

3.0

1.07
BRC520 379773 942913 287 105.0 -60 95.0 58.0
2.0

2.79

58.0

2.0

2.79
BRC520 379773 942913 287 105.0 -60 95.0 79.0
2.0

3.70

79.0

2.0

3.70
BRC521 380000 942853 294 105.0 -60 80.0 19.0
4.0

0.65

19.0

4.0

0.65
BRC521 380000 942853 294 105.0 -60 80.0 74.0
2.0

1.64

74.0

2.0

1.64
BRC522 379972 942861 291 105.0 -60 94.0 74.0
2.0

4.75

74.0

2.0

4.75
BRC523 380134 942789 291 105.0 -60 82.0

41

==> picture [596 x 77] intentionally omitted <==

BRC524 379831 942718 275 105.0 -60 97.0 20.0
5.0

1.31

20.0

5.0

1.31
BRC525 379796 942756 275 140.0 -60 100.0
BRC526 379770 942789 277 140.0 -60 67.0
BRC527 379745 942821 277 140.0 -60 87.0 8.0
4.0

1.38

8.0

4.0

1.38
BRC528 379720 942850 278 140.0 -60 89.0 1.0
4.0

1.09

2.0

2.0

1.62
BRC528 379720 942850 278 140.0 -60 89.0 9.0
2.0

1.68

10.0

1.0

3.22
BRC528 379720 942850 278 140.0 -60 89.0 15.0
2.0

1.36

16.0

1.0

2.61
BRC528 379720 942850 278 140.0 -60 89.0 45.0
3.0

1.21

45.0

3.0

1.21
BRC529 379695 942879 278 140.0 -60 85.0 9.0
5.0

1.94

9.0

5.0

1.94
BRC529 379695 942879 278 140.0 -60 85.0 33.0
3.0

3.40

33.0

3.0

3.40
BRC529 379695 942879 278 140.0 -60 85.0 67.0
13.0

1.16

67.0

13.0

1.16
BRC530 380049 942839 297 140.0 -60 102.0
BRC531 379672 942908 279 140.0 -60 85.0 2.0
3.0

2.77

2.0

1.0

7.47
BRC531 379672 942908 279 140.0 -60 85.0 83.0
2.0

1.48

83.0

1.0

2.92
BRC532 379639 942943 281 140.0 -60 85.0 1.0
2.0

0.58
BRC532 379639 942943 281 140.0 -60 85.0 62.0
2.0

1.43

63.0

1.0

2.47
BRC533 379615 942974 282 140.0 -60 94.0
BRC534 379563 943041 284 140.0 -60 85.0
BRC535 379544 943064 284 140.0 -60 91.0 46.0
2.0

1.03
BRC536 379522 943101 282 140.0 -60 94.0
BRC537 379502 943125 281 140.0 -60 85.0
BRC538 379472 943162 279 140.0 -60 85.0 0.0
4.0

3.43

0.0

4.0

3.43
BRC539 379440 943196 278 140.0 -60 58.0 0.0
7.0

2.40

0.0

7.0

2.40
BRC540 379376 943232 274 140.0 -60 71.0 15.0
2.0

1.24

15.0

1.0

2.21
BRC540 379376 943232 274 140.0 -60 71.0 32.0
2.0

3.59

32.0

2.0

3.59
BRC541 379515 943182 286 140.0 -60 85.0 0.0
8.0

3.59

0.0

8.0

3.59
BRC541 379515 943182 286 140.0 -60 85.0 20.0
2.0

1.75

20.0

2.0

1.75
BRC542 380138 942650 278 140.0 -60 76.0 11.0
2.0

1.05
BRC543 380111 942684 280 140.0 -60 88.0
BRC544 380084 942715 284 140.0 -60 97.0
BRC545 379587 943335 287 140.0 -60 82.0 77.0
5.0

1.00

77.0

5.0

1.00
BRC546 379608 943305 292 140.0 -60 67.0 50.0
11.0

1.01

50.0

4.0

2.62
BRC546 379608 943305 292 140.0 -60 67.0 57.0
4.0

1.59
BRC547 379554 943369 283 140.0 -60 115.0 65.0
2.0

1.19

65.0

2.0

1.19
BRC547 379554 943369 283 140.0 -60 115.0 76.0
6.0

1.20

76.0

5.0

1.32
BRC548 379518 943414 281 140.0 -60 127.0 14.0
2.0

2.04

14.0

2.0

2.04
BRC548 379518 943414 281 140.0 -60 127.0 66.0
6.0

0.92

66.0

5.0

0.96
BRC548 379518 943414 281 140.0 -60 127.0 109.0
2.0

3.89
109.0
2.0

3.89
BRC548 379518 943414 281 140.0 -60 127.0 120.0
4.0

1.72
120.0
4.0

1.72
BRC549 379493 943447 280 140.0 -60 99.0 1.0
2.0

1.02
BRC550 379466 943477 279 140.0 -60 91.0 0.0
3.0

1.06

2.0

1.0

2.11
BRC550 379466 943477 279 140.0 -60 91.0 20.0
6.0

1.14

21.0

1.0

2.39
BRC550 379466 943477 279 140.0 -60 91.0 25.0
1.0

2.90
BRC551 379440 943509 279 140.0 -60 85.0
BRC552 379417 943539 278 140.0 -60 85.0
BRC553 379417 943226 276 140.0 -60 85.0 4.0
9.0

5.01

4.0

9.0

5.01
BRC553 379417 943226 276 140.0 -60 85.0 26.0
13.0

1.04

31.0

8.0

1.36
BRC554 379388 943257 275 140.0 -60 91.0 56.0
10.0

1.94

56.0

1.0

3.36
BRC554 379388 943257 275 140.0 -60 91.0 62.0
3.0

4.70
BRC554 379388 943257 275 140.0 -60 91.0 73.0
10.0

1.57

80.0

3.0

4.17
BRC555 379364 943288 275 140.0 -60 81.0 77.0
2.0

1.06
BRC556 379340 943320 274 140.0 -60 116.0 48.0
4.0

0.69
BRC557 379314 943349 274 140.0 -60 127.0 2.0
4.0

0.69
BRC557 379314 943349 274 140.0 -60 127.0 59.0
31.0

1.18

59.0

1.0

5.85

42

==> picture [596 x 77] intentionally omitted <==

BRC557 379314 943349 274 140.0 -60 127.0 68.0
14.0

1.51
BRC557 379314 943349 274 140.0 -60 127.0 86.0
3.0

0.86
BRC558 379287 943380 273 140.0 -60 84.0
BRC559 379261 943411 272 140.0 -60 79.0 3.0
2.0

1.69

3.0

2.0

1.69
BRC560 379236 943440 272 140.0 -60 81.0 8.0
3.0

1.59

8.0

3.0

1.59
BRC560 379236 943440 272 140.0 -60 81.0 32.0
2.0

1.71

32.0

2.0

1.71
BRC560 379236 943440 272 140.0 -60 81.0 46.0
3.0

1.18

46.0

3.0

1.18
BRC561 379212 943473 271 140.0 -60 85.0 12.0
9.0

4.21

12.0

9.0

4.21
BRC561 379212 943473 271 140.0 -60 85.0 83.0
2.0

1.07
BRC562 379186 943503 270 140.0 -60 63.0 42.0
3.0

1.29

43.0

2.0

1.63
BRC563 379860 943315 304 140.0 -60 85.0
BRC564 379833 943348 300 140.0 -60 90.0 25.0
8.0

1.37

25.0

1.0

9.02
BRC564 379833 943348 300 140.0 -60 90.0 30.0
3.0

0.93
BRC564 379833 943348 300 140.0 -60 90.0 48.0
12.0

1.66

48.0

5.0

2.56
BRC564 379833 943348 300 140.0 -60 90.0 57.0
3.0

2.24
BRC565 379817 943368 297 140.0 -60 59.0 9.0
2.0

1.79

9.0

2.0

1.79
BRC565 379817 943368 297 140.0 -60 59.0 20.0
5.0

0.66

20.0

4.0

0.70
BRC565 379817 943368 297 140.0 -60 59.0 36.0
6.0

0.96

36.0

6.0

0.96
BRC566 379785 943414 292 140.0 -60 82.0
BRC567 379762 943446 289 140.0 -60 91.0 68.0
8.0

1.16

68.0

8.0

1.16
BRC568 379740 943471 288 140.0 -60 70.0 6.0
14.0

0.92

7.0

6.0

1.26
BRC568 379740 943471 288 140.0 -60 70.0 16.0
3.0

1.18
BRC568 379740 943471 288 140.0 -60 70.0 58.0
2.0

2.22

58.0

1.0

4.41
BRC569 380062 943062 316 140.0 -60 106.0 50.0
2.0

1.18

50.0

1.0

2.31

Section 1: Sampling Techniques and Data

JORC Code Criteria Commentary Explanation Nature and quality of sampling Sampling The drill data described in this report was not undertaken by PDI and is (eg cut channels, random chips, Technique historical data generated by previous explorers – Equigold, and Lihir Gold or specific specialised industry standard measurement tools Limited. The drilling appears to have been carried out in accordance with industry best practice, however sampling methods are not recorded in the appropriate to the minerals data held by PDI. under investigation, such as downhole gamma sondes, or handheld XRF instruments, Analytical certificates held by PDI indicate that analyses were generally etc). These examples should carried out by fire assay by ALS, SGS and Transworld Laboratories. 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

43

==> picture [596 x 77] intentionally omitted <==

sampling problems. Unusual
commodities or mineralisation
types (eg submarine nodules)
may warrant disclosure of
detailed information.
Drilling 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,bywhat method,etc).
Holes are recorded as either reverse circulation or diamond drilling. Hole
prefixes indicate the drill type I.e. DD = diamond drilling, RC = reverse
circulation.
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.
Sample recoveries are not recorded in the data held by PDI..
Logging Whether core and chip
samples have been
geologically and geotechnical
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/Trench,
channel, etc)
photography.
The total length and
percentage of the relevant
intersectionslogged.
Geological logging appears to have been carried out systematically on all drill
holes. With some re-logging and completion of infill drilling,, PDI believes that the
drill information may be useable in a future Mineral Resource Estimate.
Sub-Sampling
Technique 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 beingsampled.
Sample preparation information is not recorded in the data held by PDI.

44

==> picture [596 x 77] intentionally omitted <==

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.
Gold analyses were undertaken in reputable laboratories using fire assay, which
is a total analytical method . No company QC data is known to PDI however
there is data for laboratory inserted blanks and reference samples.
Verification of
Sampling and
Assaying
The verification of significant
intersections by either
independent or alternative
company personnel.
The use of twinned holes The
verification of significant
intersections by either
independent or alternative
company personnel. Discuss
any adjustment to assay data
No such verification data has yet been compiled from the available historical
database. Some holes were twinned. Intersections were generally obtained at
similar depths although there is a possibility that mineralisation orientation is
oblique to the drill direction.
Location of Data
points
Accuracy and quality of
surveysused tolocate 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
The database held by PDI indicates that hole collars were located by GPS.
Some hole elevations were estimated using 10m contour plans. The datum
employed is WGS84, Zone 30N.
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 beenapplied
The drill holes are largely located on lines which are spaced 200m apart.
Hole spacings along lines are typically 40m . The line spacing is too far apart
to warrant a Mineral resource Estimate. Infill drilling between lines is required.
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 orientation of drilling does not appear to have been at a high angle to dip
and strike of the mineralisation everywhere.

45

==> picture [596 x 77] intentionally omitted <==

Sample Security The measures taken to ensure
sample security
There is no information about security of the historical samples, however
reference samples are believed to be stored securelyat a mine site.
Audits or Reviews The results of any audits or
reviews of sampling
techniques and data
No audits or reviews of sampling techniques and data have been carried
out given the reconnaissance nature of this drill program.
Section 2 Reporting of Exploration Results
Mineral
Tenement and
Land Tenure
Status
Type, reference name/number,
location and ownership
including agreements or
material issues with third
partiessuch asjoint 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 Wendene permit application and the Bassawa granted permit cover 800
km2area in northern Cote D’Ivoire. The agreement which PDI has entered
with XMI SARL which made the permit application and holds the Bassawa
permit is as follows:

The agreement is subject to grant of the Wendene permit, which
is expected in the next few months.

Equity in the project will be earned through a holding company in
the UK - Exploration and Mining Investments Limited (EMIL).

On grant of Wendene, PDI will invest £27,000 (Approximately
A$58,000) into EMIL and obtain 15% of that company.

PDI will have an exclusive right for six months to raise capital to
progress the project. This capital may be provided in part or in
whole by PDI or third party investors arranged by PDI.

Subject to completion of a successful initial capital raising of at
least £500,000 within 6 months of the grant of Wendene,
Predictive will have the first right of refusal to raise funds into
EMIL for two years from the date of grant.

Predictive’s team will manage exploration of the project.
There are no national parks over the permits.
The Wendene permit will only be secure once the application has been
granted by the Council of Ministers of Cote D’Ivoire. This is expected in a
few months from the date of this release.
Exploration Done
by Other Parties
Acknowledgment and
appraisal of exploration
by otherparties.
Extensive work which was carried out by Equigold and Lihir Gold Limited is
reported here.
Geology Deposit type, geological
setting and style of
mineralisation.
The permit lies within the southern extension of the volcano-sedimentary
Hounde Belt in Burkina Faso. The rocks are also intruded by granites and
diorites.
The mineralisation is interpreted as a variant of the orogenic gold
mineralisation style, which is known throughout the Birimian Belt of West
Africa.
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:

easting and northing of
the drill hole collar

elevation or RL (Reduced
Level – elevation above
sea level in metres) of the
drill hole collar

dip and azimuth of the hole

down hole length and
interception depth

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.
See Table 1 and the accompanying notes in these tables.
Data In reporting Exploration Drill sampling was generally either in one metre or two metre composite

46

==> picture [596 x 77] intentionally omitted <==

Aggregation
Methods
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.
intervals. No top cuts have been applied to exploration results
Up to 4m (down-hole) of internal waste is included for results reported at a 0.5g/t
Au cut-off grade and of up to 2m for results reported at a 0.75g/t Au cut-off grade.
Mineralised intervals are reported on a weighted average basis.
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 notknown’).
True widths have not been estimated as there is considerable uncertainty
about the orientation of mineralised zones.
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.
Appropriate plans and sections are included with this document
(Figures 3 to 7).
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.
Comprehensive reporting of the drill results is provided in Table 1.
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.
There is no other known exploration data which is relevant to the results
reported in this release.
Further Work The nature and scale of
planned further work (eg tests
for lateral extensions or large
scale step out drilling.
Diagrams clearly highlighting the
areas of possible extensions,
including the main geological
interpretations and future drilling
Planned work includes geological mapping, re-logging of drill holes,
metallurgical testwork and infill drilling after the Wendene permit has been
granted.

47

areas, provided this information is not commercially sensitive.

==> picture [596 x 77] intentionally omitted <==

TABLE 3 – HISTORICAL BOBOSSO AND BASSAWA SOIL SAMPLING RESULTS

Sample
numbers
Northing
(WGS84-
30N)
Easting
(WGS84 –
30N)
RL Hole
dips
Azimuth Hole Depth From Interval Au (ppb)
9246 samples
with numerous
prefixes e.g.
BBE, BBS, BKS,
BLS, BNS, BSB,
BTF, BTN, BTS,
BWD, BWS,
LGW.
Refer to
Figures 3, 8
and 9 for map
locations of all
samples
Refer to
Figures 3, 8
and 9 for map
locations of
all samples
See
notes
Not
relevant
to the
samples
described
in this
report
Not
relevant
to the
samples
described
in this
report
Soil samples are not known. Not
relevant
to the
samples
described
in this
report
Not
relevant
to the
samples
described
in this
report
See notes
and Figures
3, 8 and 9
Notes: Soil sampling is a reconnaissance exploration technique. Detailed of the soil sampling methods utilised by Equigold and
Lihir Gold Limited are not completely recorded in the data held by PDI, however the database does indicate that nearly all of
the samples were sieved. Recorded analytical techniques are both fire assay and aqua regia gold. RL ranges are not known for
the Bassawa permit and are recorded to range from 218m to 341m in the Wendene permit application. Individual RLs are not
reported in this announcement because theyare not relevant to interpreting geochemical data of this type.

Section 1: Sampling Techniques and Data

JORC Code Criteria Explanation Commentary

Section 1: Sampling Techniques and Data
Criteria
JORC Code
Explanation
Commentary
Section 1: Sampling Techniques and Data
Criteria
JORC Code
Explanation
Commentary
Section 1: Sampling Techniques and Data
Criteria
JORC Code
Explanation
Commentary
JORC Code
Explanation
Commentary
Sampling Technique
Drilling
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
downhole 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
detailedinformation.
The sampling described in this report refers samples obtained
from the Wendene exploration permit application area and the
Bassawa exploration permit in Cote D’Ivoire.
Depth of soil sampling is not known but thought to be shallow
(<=0.5m).
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-
samplingbit or other type,whether core
This is not relevant to a soil sampling program.

48

==> picture [596 x 77] intentionally omitted <==

is oriented and if so, by what method,
etc).
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.
This is not relevant to a soil sampling program.
Logging Whether core and chip samples have
been geologically and geotechnical
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/Trench, channel, etc)
photography.
The total length and percentage of the
relevant intersections logged.
Log descriptions of the soils are not held by PDI.
Sub-Sampling
Technique 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 beingsampled.
Sieving of soil samples is a standard appropriate method.
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.
The analytical method used had variable detection limits (2-10ppb)
which are acceptable for samples in this area because of the very
tenor of the target soil anomalies.

49

==> picture [596 x 77] intentionally omitted <==

Verification of
Sampling and
Assaying
The verification of significant
intersections by either independent or
alternative company personnel.
The use of twinned holes The
verification of significant intersections
by either independent or alternative
company personnel. Discuss any
adjustment to assay data
This is not relevant to a soil sampling program.
Location of Data points Accuracy and quality of surveysused
tolocate 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
Coordinates shown on the locality maps (Figures 3,8,9) are for
Universal Transverse Mercator (UTM), Datum WGS 84, Zone 30 -
Northern Hemisphere.
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 soil sampling grids were very variable ranging from
ranging from 200 x 50m to 2km x 200m. No Mineral
Resource can be estimated from these data.
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 samples were collected along lines which were appears to
have been designed to cross cut strike.
Sample Security The measures taken to ensure sample
security
Location of the samples is not known. It is assumed that they
no longer exist.
Audits or Reviews The results of any audits or reviews
of sampling techniques and data
No audits or reviews of sampling techniques and data have
been carried out given the reconnaissance nature of this
explorationprogram.
Section 2 Reporting of Exploration Results
Mineral Tenement and
Land Tenure Status
Type, reference name/number, location
and ownership including agreements or
material issues with third partiessuch
asjoint 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 Wendene permit application and the Bassawa granted
permit cover 800 km2area in northern Cote D’Ivoire. The
agreement which PDI has entered with XMI SARL which made
the permit application and holds the Bassawa permit is as
follows:

The agreement is subject to grant of the Wendene
permit, which is expected in the next few months.

Equity in the project will be earned through a
holding company in the UK - Exploration and
Mining Investments Limited (EMIL).

On grant of Wendene, PDI will invest £27,000
(Approximately A$58,000) into EMIL and obtain
15% of that company.

PDI will have an exclusive right for six months to
raise capital to progress the project. This capital
may be provided in part or in whole by PDI or third
party investors arranged by PDI.

Subject to completion of a successful initial capital
raising of at least £500,000 within 6 months of the
grant of Wendene, Predictive will have the first
right of refusal to raise funds into EMIL for two
years from the date of grant.

Predictive’steam will manage explorationof the

50

==> picture [596 x 77] intentionally omitted <==

project.
There is no national park over the area.
The Wendene permit will only be secure once the application
has been granted by the Council of Ministers of Cote D’Ivoire.
This is expected in a few months from the date of this release.
Exploration Done by
Other Parties
Acknowledgment and appraisal of
exploration by other parties.
Extensive work which was carried out by Equigold and Lihir
GoldLimitedisreportedhere.
Geology Deposit type, geological setting and
style of mineralisation.
The permit lies within the southern extension of the volcano-
sedimentary Hounde Belt in Burkina Faso. The rocks are also
intruded by granites and diorites.
The mineralisation is interpreted as a variant of the orogenic
gold mineralisation style, which is known throughout the
Birimian Belt of WestAfrica.
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:

easting and northing of the drill
hole collar

elevation or RL (Reduced Level –
elevation above sea level in
metres) of the drill hole collar

dip and azimuth of the hole

down hole length and interception
depth

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.
This is not relevant to a soil sampling program. Sample
coordinate information is provided on the maps included in this
release.
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.
This is not relevant to a soil sampling program.
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’).
This is not relevant to a soil sampling program.
Diagrams Appropriate maps and sections (with
scales) and tabulations of intercepts
should be included for anysignificant
Appropriate plans showing the locations of the soil
samples, classified by results, are shown in this release.

51

==> picture [596 x 77] intentionally omitted <==

discovery being reported These should
include, but not be limited to a plan
view of drill hole collar locations and
appropriate sectional views.
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
reportingof Exploration Results.
Results from all assayed soil samples have been reported.
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.
The relevant historical exploration data is reported in this
release.
Further Work The nature and scale of planned further
work (eg tests for lateral 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 commerciallysensitive.


Planned work includes geological mapping, re-logging of drill
holes, metallurgical testwork and infill drilling after the Wendene
permit has been granted. Reconnaissance follow-up of soil
anomalies will also be conducted on the Bassawa permit.

Predictive Discovery Limited (PDI) was established in late 2007 and listed on the ASX in December 2010. The Company is focused on exploration for gold in West Africa. The Company’s major focus is in Burkina Faso, West Africa where it has assembled a substantial regional ground position totalling 1,605km[2] and is exploring for large, open-pittable gold deposits. Exploration in eastern Burkina Faso has yielded a large portfolio of exciting gold prospects, including the high grade Bongou gold deposit on which a resource estimate was calculated in September 2014. PDI also has interests in a strategic portfolio of tenements in Côte D’Ivoire covering a total area of 1,533 km[2] .

Competent Persons Statement

The exploration results reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr Paul Roberts (Fellow of the Australian Institute of Geoscientists). Mr Roberts is a full time employee of the company and has sufficient experience relevant to the style of mineralisation and type of deposits being considered to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Roberts consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

For further details please contact:

52

==> picture [596 x 77] intentionally omitted <==

Paul Roberts Ric Moore Managing Director Company Secretary Tel: +61 402 857 249 Tel: +61 8 6143 1840 Email: Email: [email protected] [email protected]

TENEMENT STATUS – JUNE QUARTER, 2015

Name Number Location Area
(sq.
km)
PDI
equity
Changes in holding
during June Quarter,
2015
Fouli arrêté 2014-294
/MCE/SG/DGMGC
Burkina
Faso
186.2 100% None
Tantiabongou arrêté 2013-168
/MCE/SG/DGMGC
Burkina
Faso
93.9 100% None
Sirba arrêté 2014-296
/MCE/SG/DGMGC
Burkina
Faso
136.9 100% None
Madyabari arrêté 2014-295
/MCE/SG/DGMGC
Burkina
Faso
171.9 100% None
Tyekanyebi Arrêté 2015-
229/MCE/SG/DGMGC
Burkina
Faso
140 100% Renewed during the quarter
Tamfoagou arrêté 2015-
281/MCE/SG/DGMGC)
Burkina
Faso
238 100% Renewed during the quarter
Tangagari arrêté 2013-37
/MCE/SG/DGMGC
Burkina
Faso
127.5 Earning
95%;
current
equity 0%
(until final
cash
payment is
made)
Renewal in progress
Aoura arrêté 2011-405
/MCE/SG/DGMGC
Burkina
Faso
25 Earning
95%;
current
equity 0%
(until final
cash
payment is
made)
Special renewal in progress
Boussouma Arrete 2011-
059/MCE/SG/DGMGC
Burkina
Faso
116 Earning
95%;
current
equity 0%
(until final
cash
payment is
made)
Renewal in progress

53

==> picture [596 x 77] intentionally omitted <==

Bangaba Arrete 2015-109
/MCE/SG/DGMGC
Burkina
Faso
128 Earning
95%;
current
equity 84%
None
Kogodou
South
2015-
226/MCE/SG/DGMGC
Burkina
Faso
44.6 Earning
100%;
current
equity 0%
(until final
cash
payment is
made)
Renewed during the Quarter
Bira 2013-
33/MCE/SG/DGMGC
Burkina
Faso
21 100% None
Basieri 2013-
16/MCE/SG/DGMGC
Burkina
Faso
73.5 100% None
Kokumbo Mining exploration permit
No. 307
Cote
D'Ivoire
400 Earning
90%
None
Ferkessedoug
ou
Mining exploration permit
No. 310
Cote
D'Ivoire
387 100% None
Boundiali Mining exploration permit
No. 414
Cote
D'Ivoire
399 100% None
Kounahiri Mining exploration permit
No. 317
Cote
D'Ivoire
347 100% None
Cape Clear EL 5434 Victoria,
Australia
160 100%
(Cape Clear
Minerals
Pty Ltd JV
partner and
earning in
to 51% by
expenditure
of
$250,000)
None

54

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013

Name of entity

Predictive Discovery Limited

ABN 11 127 171 877

Quarter ended (“current quarter”) 30 Sept 2015

Consolidated statement of cash flows

Cash flows related to operating activities
1.1
Receipts from product sales and related
debtors
1.2
Payments for (a) exploration & evaluation
(b) development
(c) production
(d) administration
1.3
Dividends received
1.4
Interest and other items of a similar nature
received
1.5
Interest and other costs of finance paid
1.6
Income taxes paid
1.7
Other – security bond
Net Operating Cash Flows
Current quarter
$A’000
Year to date
(3 months)
$A’000
(231)
(129)
-
-
-
(10)
(231)
(129)
-
-
-
(10)
(370) (370)
Cash flows related to investing activities
1.8
Payment for purchases of: (a) prospects
(b) equity investments
(c) other fixed assets
1.9
Proceeds from sale of:
(a) prospects
(b) equity investments
(c) other fixed assets
1.10
Loans to other entities
1.11
Loans repaid by other entities
1.12
Other (provide details if material)
Net investing cash flows
1.13
Total operating and investing cash flows
(carried forward)
-
-
-
-
-
-
-
-
-
-
- -
(370) (370)
  • See chapter 19 for defined terms.

01/05/2013 Appendix 5B Page 1

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

1.13
Total operating and investing cash flows
(brought forward)
(370) (370)
Cash flows related to financing activities
1.14
Proceeds from issues of shares, options, etc.
1.15
Proceeds from sale of forfeited shares
1.16
Proceeds from borrowings
1.17
Repayment of borrowings
1.18
Dividends paid
1.19
Other (provide details if material)
Net financing cash flows
-
-
-
-
- -
Net increase (decrease) in cash held
1.20
Cash at beginning of quarter/year to date
1.21
Exchange rate adjustments to item 1.20
1.22
Cash at end ofquarter
(370)
718
-
(370)
718
-
348 348

Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities

1.23
1.24
1.23
1.24
Aggregate amount of payments to the parties included in item 1.2
Aggregate amount of loans to the parties included in item 1.10
Current quarter
$A'000
57
1.25
Explanation necessaryfor an understandingof the transactions
Non-cash financing and investing activities
2.1
Details of financing and investing transactions which have had a material effect on
consolidated assets and liabilities but did not involve cash flows
2.2
Details of outlays made by other entities to establish or increase their share in projects in
which the reportingentityhas an interest
Explanation necessaryfor an understandingof the transactions
Details of outlays made by other entities to establish or increase their share in projects in
which the reportingentityhas an interest
  • See chapter 19 for defined terms.

Appendix 5B Page 2

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities
3.2 Credit standby arrangements
Amount available
$A’000
Amount used
$A’000

Estimated cash outflows for next quarter

4.1
Exploration and evaluation
4.2
Development
4.3
Production
4.4
Administration
$A’000
60
120
Total 180

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as
shown in the consolidated statement of cash flows)
to the related items in the accounts is as follows.
Current quarter
$A’000
Previous quarter
$A’000
5.1
Cash on hand and at bank
5.2
Deposits at call
5.3
Bank overdraft
5.4
Other (provide details)
91 38
257 680
Total: cash at end of quarter(item 1.22) 348 718
  • See chapter 19 for defined terms.

01/05/2013 Appendix 5B Page 3

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Changes in interests in mining tenements and petroleum tenements

Tenement
reference
and
location
Nature of interest
(note (2))
Interest at
beginning
of quarter
Interest at
end of
quarter
6.1
Interests in mining
tenements and
petroleum tenements
relinquished, reduced
or lapsed
6.2
Interests in mining
tenements and
petroleum tenements
acquired or increased
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
Tenement
reference
and
location
Nature of interest
(note (2))
Interest at
beginning
of quarter
Interest at
end of
quarter
6.1
Interests in mining
tenements and
petroleum tenements
relinquished, reduced
or lapsed
6.2
Interests in mining
tenements and
petroleum tenements
acquired or increased
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
Tenement
reference
and
location
Nature of interest
(note (2))
Interest at
beginning
of quarter
Interest at
end of
quarter
6.1
Interests in mining
tenements and
petroleum tenements
relinquished, reduced
or lapsed
6.2
Interests in mining
tenements and
petroleum tenements
acquired or increased
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
Tenement
reference
and
location
Nature of interest
(note (2))
Interest at
beginning
of quarter
Interest at
end of
quarter
6.1
Interests in mining
tenements and
petroleum tenements
relinquished, reduced
or lapsed
6.2
Interests in mining
tenements and
petroleum tenements
acquired or increased
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
Tenement
reference
and
location
Nature of interest
(note (2))
Interest at
beginning
of quarter
Interest at
end of
quarter
6.1
Interests in mining
tenements and
petroleum tenements
relinquished, reduced
or lapsed
6.2
Interests in mining
tenements and
petroleum tenements
acquired or increased
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
Total number Number quoted Issue price per
security (see
note3) (cents)
Amount paid up
per security (see
note3) (cents)
7.1
Preference
+securities
(description)
7.2
Changes during
quarter
(a) Increases
through issues
(b) Decreases
through returns
of capital, buy-
backs,
redemptions
7.3
+Ordinary
securities
7.4
Changes during
quarter
(a) Increases
through issues
(b) Decreases
through returns
of capital, buy-
backs
650,584,343 650,584,343 Fully Paid
7.5
+Convertible
debt
securities
(description)
  • See chapter 19 for defined terms.

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Mining exploration entity and oil and gas exploration entity quarterly report

7.6
Changes during
quarter
(a) Increases
through issues
(b) Decreases
through
securities
matured,
converted
7.7
Options
(description and
conversion
factor)
7.8
Issued during
quarter
7.9
Exercised
during quarter
7.10
Expired during
quarter
2,000,000
8,000,000
-
-
-
-
Exercise price
15 cents
2.2 cents
Expiry date
30 October 2015
31 March 2017
500,000
6,000,000
-
-
31 cents
25 cents
11 July 2015
20 August 2015
7.11
Debentures
(totals only)
7.12
Unsecured
notes(totals
only)

Compliance statement

  • 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).

  • 2 This statement does / ~~does not*~~ (delete one) give a true and fair view of the matters disclosed.

==> picture [97 x 58] intentionally omitted <==

Sign here: ............................................................ Date: 30 October 2015 (Company secretary)

Print name: Eric Moore

Notes

  • See chapter 19 for defined terms.

01/05/2013 Appendix 5B Page 5

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

  • 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

  • 2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements and petroleum tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement or petroleum tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

  • 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

  • 4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

  • 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

== == == == ==

  • See chapter 19 for defined terms.

Appendix 5B Page 6

01/05/2013