SILVER MINES LIMITED — Capital/Financing Update 2014

Feb 24, 2014

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25[th] �February,�2014�

To: �Company�Announcement�Officer�

LARGE�GOLD�SILVER�TARGET�IDENTIFIED�IN�NEVADA�

HIGHLIGHTS

• Rock�chip�sampling�by�Silver�Mines�Team�indicates�wide�zones�of�gold�silver�mineralisation�at� the�Independence�project�in�southern�Nevada�

• 70�samples�taken�during�February�2014,�as�continuous�samples�over�widths�of�2�5m,�with�30� samples�yielding�greater�than�0.2g/t�Au,�with�highest�values�of�3.72g/t�Au�and�19g/t�Ag.�

• Mineralisation�and�higher�Au�Ag�values�generally�associated�with�a�shallow�dipping�quartz�vein� up�to�15m�wide�(true�width).�The�average�grade�based�on�12�samples�is�1.24g/t�Au�and�6.3g/t�Ag� or�1.34g/t�Au�equivalent.�

• Mineralisation�also�hosted�in�underlying�quartz�sericite�altered�quartzite,�schist�and�gneiss�with� stockwork�quartz.�This�zone�is�up�to�30m�wide�(true�width)�which�expands�the�mineralised�zone� up�to�approximately�45m�true�width.�

• The�mineralised�vein�and�footwall�zone�has�been�traced�for�approximately�1�200m�along�strike.� Most�of�the�vein�is�masked�by�alluvium.�

• SVL�has�started�the�permitting�process�to�drill�the�hypothesised�extensions�of�the�mineralisation� under�the�alluvial�cover.��

Silver�Mines�Limited�(ASX:SVL)�is�pleased�to�provide�an�update�regarding�its�due�diligence�studies�on�the� Independence�gold�silver�project�in�southern�Nevada.�Silver�Mines�is�reviewing�several�projects�in�the� USA�as�part�of�a�possible�acquisition�and�corporate�transaction�involving�private�Canadian�and�US� companies�who�currently�hold�the�properties.�

As�highlighted�above�and�described�below�the�Independence�project�has�demonstrated�potential�to�host� Au�Ag�mineralisation�and�as�such�SVL�is�planning�to�drill�the�project�as�soon�as�possible.�

Silver�Mines�CEO�Charles�Straw�comments;�

“The�Independence�project�has�rapidly�demonstrated�its�potential�to�deliver�a�relatively�low�entry�cost� and�highly�prospective�opportunity�for�SVL�to�enter�the�Western�US�and�deliver�tangible�results�in�a�very� short�period.�Our�assessment�of�the�property�and�re�interpretation�of�previous�work�highlights�how� prospective�this�part�of�the�world�is�and�we�are�very�enthused�by�the�excellent�results�to�date.”�

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LOCATION�AND�TENURE

The�Independence�Project�is�located�in�the�Mohave�Desert�in�southern�Nevada,�near�the�California� border�approximately�70km�south�of�Las�Vegas.�Access�and�infrastructure�around�the�project�is�excellent� (see�Figure�1).�

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The�project�is�contained�within�54�unpatented�mining� claims�located�on�US�Federal�land�which�is�administered�by� the�Bureau�of�Land�Management�(BLM).�These�claims� cover�a�total�area�of�approximately�4.5km[2] .�The�claims�give� rights�to�the�holder�for�‘Locatable�Minerals’�which�include� Au,�Ag,�Cu,�Pb�and�Zn�amongst�others.�Half�of�the�claims� are�held�by�Metalstorm�Resources�Corporation�(MRC),�a� private�Canadian�company�with�the�remainder�held�by� Cibolagold�Corporation�(Cibo),�a�private�US�company.�The� claims�are�currently�in�good�standing�with�the�BLM.�

All�claims�are�subject�to�an�agreement�between�Cibo�(the� project�holder)�and�MRC�whereby�MRC�can�earn�up�to� 100%�in�the�project�through�direct�expenditure�and�the� issuance�of�equity�in�MRC.�SVL�is�injecting�capital�into�MRC� in�exchange�for�equity�and�is�managing�the�exploration� from�now�on.�SVL�has�the�full�support�of�MRC’s�largest� shareholder�who�has�approximately�40%�of�the�current� issued�capital.�SVL�will�continue�to�fund�the�exploration�in� exchange�for�equity�in�MRC�with�the�intention�of�building�a� controlling�position�in�MRC.

GEOLOGY�AND�MINERALISATION

Basement�rocks�around�the�Independence�project�consist�of�Early�Proterozoic�orthogneiss�and� paragneiss,�schist�and�quartzite.�These�rocks�are�intruded�by�granitoid�rocks�from�about�1780�to�1,650� Mya,�again�by�granitic�rocks�at�1,400�Mya,�and�by�the�dolerite�at�about�1,100�Mya.�This�whole�sequence� represents�the�deformed�southwest�margin�of�the�North�American�Craton.�

In�the�Independence�region�late�Cretaceous�granites,�local�rhyolite�and�intrusive�breccias�are�locally� present.��Basaltic�volcanism�affected�the�southern�and�eastern�parts�of�the�region�during�the�Tertiary.�� Basalt�is�present�at�Independence.�Extensional�tectonics�dating�from�about�40Mya�to�the�present�has� formed�the�familiar�basin�and�range�physiography.��

Mineralisation�at�Independence�is�reasonably�well�exposed�in�an�old�quarry�previously�used�to�excavate� decorative�stone.�Gold�and�silver�mineralisation�are�hosted�in�a�shattered�,�locally�brecciated�quartz�vein� and�extends�into�underlying�quartz�sericite�altered�rock�resembling�quartzite�which�grades�out�into�fresh� augen�gneiss.�The�vein�is�parallel�to�sub�parallel�with�bedding�which�strikes�around�055magnetic,�and� dips�at�about�20�degrees�to�the�northwest.�The�true�width�of�the�vein�is�estimated�at�10�15m,�with�the� underlying�altered�footwall�zone�from�15�30m�thick.��All�mineralised�zones�are�moderate�to�strongly� oxidized�with�evidence�of�weathered�sulphide�minerals�in�the�vein�and�altered�footwall�zone,�where�iron� and�manganese�oxide�minerals�are�locally�abundant.�The�hanging�wall�zone�of�the�vein�is�not�exposed�in� the�quarry�or�surrounding�area�and�is�generally�masked�by�alluvium.�

2�

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A�prominent�north�south�striking�vertical�fracture�set�is�also�observed�in�many�exposures�and�appears� variably�mineralised.�Additional�mineralised�structures�have�been�mapped�and�sampled�100�200m�south� of�the�main�vein�and�represent�additional�potential.�

The�vein�and�associated�footwall�mineralisation�are�currently�interpreted�to�be�hosted�in�a�detachment� or�low�angle�normal�fault.�Some�mineralisation�may�also�be�hosted�in�steeper�angle�faults.�This�style�of� mineralisation�is�documented�in�the�region�and�extends�in�a�zone�from�eastern�California,�through� southern�Nevada�and�into�northwestern�Arizona.�

PREVIOUS�MINING�AND�EXPLORATION

There�are�scattered�old�prospecting�pits,�trenches,�shallow�shafts�and�adits�throughout�the� Independence�project�area.�These�probably�date�from�late�1800’s�to�early�1900’s.�There�is�no� documented�production�from�any�of�these�workings.�There�is�no�record�of�‘modern’�exploration�being� conducted�at�Independence�aside�from�some�bulldozer�‘scrapings’�and�some�old�sample�tags.�These�are� generally�located�well�away�from�the�prospective�target�area.�Results�from�these�programs�are�unknown� to�Silver�Mines.�

The�current�owners�of�the�project,�Cibolagold�conducted�rock�sampling�in�mid�2010�after�identifying�and� pegging�the�area.�Since�mid�2011�Metalstorm�has�conducted�rock�chip�sampling�and�soil�sampling� programs�and�reconnaissance�mapping.�

Many�of�the�rock�samples�collected�by�Cibo�and�MRC�in�and�around�the�old�quarry�are�considered�to�be� ‘semi�quantitative’�as�they�were�based�on�non�selective�sampling�and�used�10�or�more�sub�samples�to� generate�a�single�composite�sample�for�assay.�Samples�were�collected�from�old�mines�dumps,�quarry� stockpiles�and�outcrop.

The�55�samples�collected�returned�average�grades�of�0.90g/t�Au�(range�<0.001�9.8g/t�Au)�and�19g/t�Ag� (range�0.3�263g/t�Ag).��

The�work�done�by�Cibo�and�MRC�and�the�accompanying�assay�data�has�been�generated�utilizing�industry� standard�practices�and�is�of�acceptable�quality.�This�previous�work�supports�and�enhances�the�recent� work�by�Silver�Mines.�

WORK�BY�SILVER�MINES

Silver�Mines�CEO�and�Chief�Geologist�visited�the�project�in�early�February�accompanied�by�a�Nevada� based�consultant�geologist�and�a�Cibo�representative.��

Rock�chip�sampling�was�conducted�as�continuous�to�semi�continuous�traverses�across�exposures�of� outcrop�and�subcrop�in�the�old�quarry�(see�Figure�2).�Traverse�lengths�ranged�from�2,�4�or�5m,�most� commonly�5m.�The�traverses�and�accompanying�results�are�interpreted�to�represent�semi�quantitative� estimates�of�grade�over�the�specified�width.�A�total�of�70�samples�were�collected�over�a�cumulative� width�of�292m.�A�total�of�38�samples�returned�gold�values�of�greater�than�0.2g/t�Au,�with�22�samples� greater�than�0.4g/t�Au�(see�Table�1).�Samples�also�contain�minor�silver�and�elevated�Bi,�Te,�Mo,�W,�Sb� and�Ba.�Additional�details�of�the�rock�chip�sampling�program�and�other�project�details�are�located�in� Appendix�1.�

3�

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The�sampling�and�mapping�program�has�delineated�a�co�incident�geochemical�and�geological�zone.�The� vein�and�footwall�zone�present�in�the�quarry�has�been�traced�for�1.2km�(see�Figure�3)�extending� southwest�to�the�Californian�border�where�minor�exposures�exist�in�a�few�gullies.�However,�any�down� dip�extension�of�the�mineralised�zone�and�hanging�wall�is�masked�by�alluvium.�Additional�assays�are� awaited�for�samples�taken�along�the�zone�southwest�of�the�quarry.�Previous�work�by�Cibo�and�MRC� indicate�gold�and�silver�mineralisation�to�be�present�in�the�isolated�outcrops�that�have�been�sampled.�

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Figure�2 .�Rock�chip�samples�Independence�Project,�along�vein�and�surrounding�exposure�in�old�quarry.�

4�

ALLUVIAL COVER/WASH

~~3,973~~ ,50 ~~0 mN~~

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~~3,9~~ 7 ~~3,000 m~~ N

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0

125 250

meters

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Table�1 .�Independence�rock�chips�>0.2g/t�Au�

Sample	Sample	Au	Ag	AuEQ
Number	Length	(g/t)	(g/t)	(g/t)
	(m)
225648	5	3.72	7.4	3.84
225650	5	2.21	13.2	2.43
225641	5	1.91	4.1	1.98
225649	5	1.36	4.2	1.43
225657	5	1.14	6.5	1.25
225652	5	1.03	10.2	1.20
225605	2	0.95	10.9	1.13
225670	5	0.95	8.2	1.09
225656	5	0.91	18.5	1.22
225601	2	0.88	7.0	1.00
225647	5	0.84	6.5	0.95
225664	5	0.78	10.0	0.95
225669	5	0.72	7.5	0.85
225642	5	0.70	2.6	0.74
225640	5	0.60	4.6	0.68
225602	2	0.55	12.6	0.76
225651	5	0.54	3.9	0.60
225633	5	0.47	4.7	0.55
225604	2	0.45	1.3	0.47
225626	5	0.43	4.8	0.51
225638	5	0.40	2.5	0.44
225643	2	0.40	12.7	0.61

FUTURE�WORK

Apart�from�some�minor�follow�up�work,�Silver�Mines�believe�the�project�is�now�ready�to�be�drilled�and�is� currently�planning�a�drilling�program.��The�drilling�program�will�be�designed�to�test�the�down�dip� potential�of�the�mineralised�zone�which�is�masked�by�alluvium.�The�exact�nature�of�the�program�is�yet�to� be�formulated.�A�drilling�permit�will�be�required�from�the�BLM.�

Please�direct�any�queries�regarding�the�content�of�this�report�to:�Charles�Straw�(CEO)�on�+61�2�9253� 0900�or cstraw@silverminesltd.com.au

The�information�in�this�report�that�relates�to�Mineral�Reserves,�Mineral�Resources�and�Exploration�Results�is�based�on�information�compiled�by� Mr�David�Hobby,�consulting�geologist�to�SVL.�Mr�Hobby�is�a�Member�of�The�Australasian�Institute�of�Mining�and�Metallurgy.�Mr�Hobby�has� sufficient�experience�which�is�relevant�to�the�style�of�mineralisation�and�type�of�deposit�under�consideration�and�to�the�activity�which�he�is� undertaking�to�qualify�as�a�Competent�Person�as�defined�in�the�2012�Edition�of�the�‘Australasian�Code�for�Reporting�of�Exploration�Results,� Mineral�Resources�and�Ore�Reserves’.�Mr�Hobby�consents�to�the�inclusion�in�the�report�of�the�matters�based�on�his�information�in�the�form�and� context�in�which�it�appears.

6�

JORC Code, 2012 Edition – Table 1 report template

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling	 Nature and quality of sampling (eg cut channels, random chips, or	Rock chip samples were collected using geological picks, chisels and
techniques	specific specialised industry standard measurement tools appropriate	crack hammers, as continuous to semi-continuous, non-selective
	to the minerals under investigation, such as down hole gamma	traverse chip samples across outcrop and subcrop exposures in the
	sondes, or handheld XRF instruments, etc). These examples should	abandoned quarry.
	not be taken as limiting the broad meaning of sampling.	Samples were collected across total widths of 2-5m, with samples
	 Include reference to measures taken to ensure sample representivity	weights ranging from 2.5-6kg (average 3.6kg).
	and the appropriate calibration of any measurement tools or systems	The sampling and results are interpreted to represent semi-
	used.	quantitative estimates of grade over the width sampled.
	 Aspects of the determination of mineralisation that are Material to the	Samples were bagged on site and delivered by SVL personnel to
	Public Report.	ALS-Chemex in Reno Nevada for preparation and analysis
	 In cases where ‘industry standard’ work has been done this would be	Industry standard methods were used for sample collection,
	relatively simple (eg ‘reverse circulation drilling was used to obtain 1	preparation and analysis. That is; whole sample crushed to 70%
	m samples from which 3 kg was pulverised to produce a 30 g charge	passing -2mm, then riffle split to obtain 250g sub-sample which is
	for fire assay’). In other cases more explanation may be required,	pulveriesed to 85% passing 75 micron. A 50gram sample is taken for
	such as where there is coarse gold that has inherent sampling	fire assay for gold analysis.
	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	Not applicable. No drilling undertaken on property.
techniques	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 ifso, by what method, etc). _
Drill sample	 Method of recording and assessing core and chip sample recoveries	Not applicable. No drilling undertaken on property.
recovery	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/gainof fine/coarse material.
Logging	 Whether core and chip samples have been geologically and	Not applicable. No drilling undertaken on property.
	geotechnically logged to a level of detail to support appropriate
	Mineral Resource estimation, mining studies and metallurgical
	_studies. _

1

Criteria	JORC Code explanation	Commentary
	 Whether logging is qualitative or quantitative in nature. Core (or
	costean, channel, etc) photography.
	 _The total length and percentage of the relevant intersections logged. _
Sub-sampling	 If core, whether cut or sawn and whether quarter, half or all core	Not applicable. No drilling undertaken on property.
techniques	taken.
and sample	 If non-core, whether riffled, tube sampled, rotary split, etc and	Not applicable
preparation	whether sampled wet or dry.
	 For all sample types, the nature, quality and appropriateness of the	No specific sample preparation was undertaken by the company
	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	Samples were taken as traverse chip samples of outcrop and subcrop of bench faces and floor of the old quarry.
	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	No field duplicates were taken. Sample size deemed appropriate
	being sampled.
Quality of	 The nature, quality and appropriateness of the assaying and	Gold was determined by industry standard, 50gram fire assay which
assay data	laboratory procedures used and whether the technique is considered	is considered a total analysis. Silver and other elements were
and	partial or total.	determined by ICP-AES of a 0.5g charge. For silver this might be
laboratory	 For geophysical tools, spectrometers, handheld XRF instruments, etc,	considered a partial or near total extraction.
tests	the parameters used in determining the analysis including instrument
	make and model, reading times, calibrations factors applied and their
	derivation, etc.	Not applicable
	 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.	No external QC undertaken. Internal QA/QC by laboratory indicates acceptable levels of accuracy and precision.
Verification of	 The verification of significant intersections by either independent or	Results obtained are generally in line with those obtained by other
sampling and	alternative company personnel.	parties.
assaying	 The use of twinned holes.
	 Documentation of primary data, data entry procedures, data	Sampling data recorded as hard copy in the field and transcribed to
	verification, data storage (physical and electronic) protocols.	electronic format.
	 _Discuss any adjustment to assay data. _
Location of	 Accuracy and quality of surveys used to locate drill holes (collar and	Data recorded in GPS as latitude/longitude, UTM Zone 11, NAD27 to
data points	down-hole surveys), trenches, mine workings and other locations	an accuracy of 2-5m. Topographic control is not relevant.
	used in Mineral Resource estimation.
	 Specification of the grid system used.
	 Quality and adequacy of topographic control.

2

Criteria	JORC Code explanation	Commentary
Data spacing	 Data spacing for reporting of Exploration Results.	Samples were collected as 2-5m long traverse chip samples of
and	 Whether the data spacing and distribution is sufficient to establish the	outcrop and subcrop. This method is semi-quantitative for grade
distribution	degree of geological and grade continuity appropriate for the Mineral	estimates over the sample widths and should be used with caution in
	Resource and Ore Reserve estimation procedure(s) and	resource estimation.
	classifications applied.
	 _Whether sample compositing has been applied. _
Orientation of	 Whether the orientation of sampling achieves unbiased sampling of	Sampling was undertaken at orientations varying from perpendicular
data in	possible structures and the extent to which this is known, considering	to sub-parallel with interpreted ‘mineralised’ structures (veins, shears
relation to	the deposit type.	and fractures).
geological	 If the relationship between the drilling orientation and the orientation	Potential for sampling bias was not assessed given the nature of
structure	of key mineralised structures is considered to have introduced a	sampling undertaken.
	sampling bias, this should be assessed and reported if material.
Sample	 The measures taken to ensure sample security.	Samples collected in the field were securely stored overnight then
security		delivered by SVL personnel to ALS-Chemex in Reno Nevada.
Audits or	 The results of any audits or reviews of sampling techniques and data.	No audits or reviews undertaken, aside from comparison of SVL
reviews		results with those of previous explorers.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral	 Type, reference name/number, location and ownership including	Project contained on 54 unpatented mining claims on land which
tenement and land tenure	agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests,	administered by the Bureau of Land Management (BLM). These claims cover a total area of approximately 4.5km2. Half of the claims
status	historical sites, wilderness or national park and environmental	are held by Metalstorm Resources Corporation (MRC) with the
	settings.	remainder held by Cibolagold Corporation (Cibo). All claims are
	 The security of the tenure held at the time of reporting along with any	subject to JV between Cibo (the project holder) and MRC, whereby
	known impediments to obtaining a licence to operate in the area.	MRC has the right to earn a 100% interest in the project by spending
		$850,000 over 4 years and issuing Cibo up to 850,000 MRC shares.
		Cibo retain a 2% NSR, which MRC can purchase 50% for $1 Million
		dollars. Silver Mines are now providing funding to MRC in exchange
		for equity and is managing the exploration programs.
		The claims are currently in good standing. Normal environmental
		approvals will be required to operate in the area with special
		management plans required for possible Desert Tortise in the area.

3

Criteria	JORC Code explanation	Commentary
Exploration	 Acknowledgment and appraisal of exploration by other parties.	The project area contains minor old workings such as prospecting
done by other		pits, shallow shafts and short adits that probably date from the late
parties		1800’s. There is no recorded production from the area. Evidence of
		more modern exploration include some bulldozer ‘scrapings’ and
		some old sample tags. Results of this work are unknown to SVL.
		Cibolagold conducted rock sampling in mid-2010 after identifying and
		pegging the area. Since mid-2011 Metalstorm has conducted rock-
		chip sampling, soil sampling programs and reconnaissance mapping.
		Many of the rock samples cover the quarry target and surrounds are
		considered to be ‘semi-quantitative’ as they were based on non-
		selective sampling and used 10 or more sub-samples to generate a
		single composite sample for assay. Samples were collected from old
		mine dumps, quarry stockpiles and outcrop. This work is of
		acceptable quality and supports the recent work by Silver Mines.
		.
Geology	 Deposit type, geological setting and style of mineralisation.	The deposit type is interpreted as detachment fault related gold-silver
		deposit. This style of deposit is relatively well known in the basin
		range province in the southwest of the USA.
		Gold-silver mineralisation at Independence is hosted in a shallow
		dipping fractured/brecciated quartz vein and underlying quartz-sericite
		altered quartzite, schist and gneiss with stockwork quartz. Host rocks
		are Proterozoic age with veining and mineralisation of
		probableTertiary in age.
Drill hole	 A summary of all information material to the understanding of the	Not applicable, no drilling undertaken
Information	exploration results including a tabulation of the following information
	for all Material drill holes:
	o easting and northing of the drill hole collar
	o elevation or RL (Reduced Level – elevation above sea level in
	metres) of the drill hole collar
	o dip and azimuth of the hole
	o down hole length and interception depth
	o hole length.
	 If the exclusion of this information is justified on the basis that the
	information is not Material and this exclusion does not detract from
	the understanding of the report, the Competent Person should clearly
	_explain why this is the case. _
Data	 In reporting Exploration Results, weighting averaging techniques,	Reportedgrades relate to continuous and semi-continuous chip

4

Criteria	JORC Code explanation	Commentary
aggregation	maximum and/or minimum grade truncations (eg cutting of high	samples across outcrop and sub-crop. These may be reported as
methods	grades) and cut-off grades are usually Material and should be stated.	total traverse width and grade; which is sum of grade x sample width
	 Where aggregate intercepts incorporate short lengths of high grade	divided by sum of total sample width. No high or low grade cutting of
	results and longer lengths of low grade results, the procedure used	grades is 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	The mineralisation contains gold and lesser silver. A gold equivalent
	should be clearly stated.	(AuEQ) is reported using a gold silver ratio of 60:1.
Relationship	 These relationships are particularly important in the reporting of	No drilling was undertaken. However rockchip traverse samples were
between	Exploration Results.	taken across widths of 2-5m. These where collected perpendicular to
mineralisation	 If the geometry of the mineralisation with respect to the drill hole	sub-parallel to the interpreted strike. Detail is given in the
widths and	angle is known, its nature should be reported.	announcement.
intercept	 If it is not known and only the down hole lengths are reported, there
lengths	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	Appropriate diagrams and tabulations of results are provided in the
	intercepts should be included for any significant discovery being	announcement.
	reported These should include, but not be limited to a plan view of
	_drill hole collar locations and appropriate sectional views. _
Balanced	 Where comprehensive reporting of all Exploration Results is not	Results for every sample taken are presented in the announcement.
reporting	practicable, representative reporting of both low and high grades
	and/or widths should be practiced to avoid misleading reporting of
	_Exploration Results. _
Other	 Other exploration data, if meaningful and material, should be reported	Other relevant data is reported in this announcement.
substantive	including (but not limited to): geological observations; geophysical
exploration	survey results; geochemical survey results; bulk samples – size and
data	method of treatment; metallurgical test results; bulk density,
	groundwater, geotechnical and rock characteristics; potential
	_deleterious or contaminating substances. _
Further work	 The nature and scale of planned further work (eg tests for lateral	A drilling program is being designed in order to test the strike and
	extensions or depth extensions or large-scale step-out drilling).	down dip extent of the mineralised zone. The exact nature and scale
	 Diagrams clearly highlighting the areas of possible extensions,	of this program has not been finalized. Additional environmental
	including the main geological interpretations and future drilling areas,	approvals will be required to conduct the drilling program.
	provided this information is not commercially sensitive.

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