SUREFIRE RESOURCES NL — Interim / Quarterly Report 2010

Oct 28, 2010

QUARTERLY ACTIVITIES REPORT – SEPTEMBER 2010

Western Australia – E57/420 (Unaly Hill).

As proposed in the previous quarterly report, BRD, completed the RC drilling programme at its 100% owned and highly prospective magnetite/ vanadium deposit at Unaly Hill, on time and, within budget.

On July 22nd the company announced that drilling had commenced after consultation with both CSA Global and Southern Geoscience, on a model specifically designed to achieve areas of inferred resource within the tenement, and followed the recent aeromagnetic survey which produced a higher resolution assessment of the strike zone.

At the same time, under the terms of the earlier announced Heads of Agreement with Meteoric Resources NL (ASX:MEI), some exploratory holes on their Four Corners Well prospect (E57/760) to the south of Unaly Hill, was undertaken for initial evaluation.

The agreement with MEI set out terms under which BRD could earn up to an initial 60% interest in E57/760 by spending $1,000,000 on exploration over a three year period and if required, an additional 10% by the spending of a further $500,000 within a further year. The first stage of the option encompassed spending $100,000 within 6 months of signing the agreement, as a preliminary investigation, prior to committing to the Joint Venture.

The magnetite-vanadium-titanium mineralization at Unaly Hill is associated with a pronounced aeromagnetic anomaly which can be traced for about 11 kms in BRD's exploration licence. This magnetic anomaly extends for at least 2 kms along the strike zone within the Meteoric tenement.

Subsequent to that announcement and programme, on September 22nd , BRD reported the results of the drilling programme with the following highlights

Wide drill intersections up to:-

• 50m @ 37.8% Fe 0.72% V2O5 - 10.01% Ti O2
• 5.5 kilometres of drill tested mineralisation identified.
• Further 7.5 kilometres of the same aeromagnetic structure yet to be tested.
• Confirmed mineralisation open both along strike and to a vertical depth of 300metres.
• Excellent beneficiation characteristics to produce high grade iron vanadium concentrate.

1

DRILLING RESULTS

BRD's Unaly Hill drilling programme comprised 13 Reverse Circulation holes for a total of 2066 metres (Refer Figure 1 next page). Drilling was designed primarily to test both the continuity and grade of magnetite and vanadium mineralisation present within a major north-south-trending magnetic survey. Anomaly detected from the interpretation and 3D modelling of detailed airborne mag.

Hole ID	From	To	Drill	Fe	V205	TiO2
	M	M	Intersection	%	%	%
			M
UHC 101	52	97	45	26.5	0.48	6.98
UHC 103	44	59	15	23.4	0.44	6.18
	76	91	15	24.7	0.44	6.44
UHC 104	12	21	15	19.3	0.33	5.15
UHC 106	67	85	18	28.1	0.52	7.68
	90	96	6	28.1	0.52	7.66
UHN 101	85	95	10	27.2	0.52	6.96
	135	140	5	20.8	0.40	5.34
UHN 102	45	50	5	31.5	0.63	8.09
	65	70	5	20.6	0.39	5.17
	35	45	10	21.7	0.42	5.42
UHN 108	60	65	5	25.0	0.47	6.57
	85	90	5	33.3	0.62	8.97
	100	115	15	25.5	0.46	6.96
UHN 103	40	55	15	19.7	0.36	4.99
	55	70	5	23.0	0.41	6.13
	40	55	15	30.3	0.53	8.30
UHN 104	65	75	10	26.2	0.46	7.33
UHN 105	55	105	50	37.8	0.72	10.00
	120	125	5	19.2	0.38	4.78
UHN 106	190	145	15	30.8	0.53	8.37
UHN 107	15	35	20	21.6	0.39	5.61
	45	70	25	26.1	0.45	6.94

Weighted average 27.00% 0.50% 7.34%

Table 1.

The holes were drilled at a dip of -60o and azimuth of 110o except UHN 105 @ 290o azimuth.

ASX ANNOUNCEMENT ASX Code BRD

ABN 48 083 274 024 Suite 10, 281 Hay Street Subiaco 6008 Western Australia T +61 8 9381 6922 F +61 8 9381 6060 E admin@blackridgemining.com W www.blackridgemining.com

3

To date, this major anomaly has been traced over a strike length of some 14 kilometres of which at least 11 kilometres fall within Black Ridge's E57/420. Some 7.5 kilometres of this anomaly still remains to be tested.

FOUR CORNERS WELL (E57/760)

E57/760 is adjacent to and south of Black Ridge's E57/410 covering some 2 kilometres of the same mineralised magnetic structure. Black Ridge has the option to earn 60% interest with Meteoric Resource NL ( ASX: MEI ) to carry out drill investigation of this tenement.

To date 5 holes UHS 01 – UHS 05 have been drilled for a total of 850 metres confirming the presence of iron and vanadium mineralisation (Table 2).

Hole ID	From	To	Drill	Fe	V205	TiO2
	M	M	Intersection	%	%	%
			M
UHS 01	109	133	24	25.2	0.48	6.54
UHS 02	62	95	33	27.9	0.51	7.34
UHS 03	39	63	24	24.0	0.45	6.19
UHS 04	29	56	27	28.3	0.51	7.58
UHS 05	98	104	6	19.5	0.37	5.15
	174	186	12	26.1	0.47
						6.65

Table 2

METALLURGICAL TESTING – UNALY HILL BULK SAMPLES

Earlier in the programme, Preliminary Test works confirm excellent beneficiation characteristics to produce High grade vanadium/iron concentrate (See table 3 below).

Size	Weight	Fe	V	V203	Si02	A1203
(Micron)	Recovery	%	%	%	%	%
500	62.19	55.28	0.64	1.14	3.3	3.13
235	57	57.49	0.68	1.21	2.18	2.35
152	54.98	59.1	0.70	1.25	1.55	1.88
76	53.03	60.7	0.72	1.28	1.05	1.41
44	51.12	61.7	0.74	1.33	0.72	1.04
34	50.79	61.31	0.74	1.31	0.64	0.94
33	50.5	61.71	0.74	1.33	0.64	0.9
28	50.15	61.61	0.75	1.33	0.62	0.86

Si02%	A1203%	TiO2%

Table 3

The Company proposes to commission experienced magnetite specialists to prepare a Scoping Study to better understand the various options for product specifications, production levels, capital and operating costs and port/rail planning solutions, for the above results, after careful consideration of the two separate prospects.

Overseas

With the ongoing work and further evaluation required on the Unaly Hill and Meteoric projects, the directors resolved to discontinue its attempts to identify opportunities overseas for the foreseeable future.

Corporate

Post quarter, on 15 October 2010, the Company completed a Placement to sophisticated investors of 137,000,000 shares at an issue price of $0.0074 cents per share to raise $1,013,800 before costs of the issue. 100,000,000 of the shares were issued pursuant to the approval granted by shareholders at the General Meeting of the Company held on 23rd August 2010.

The other 37,000,000 shares were issued under the 15% capacity available to the Company in accordance with ASX Listing Rule 7.1.

Patersons Securities Limited placed 50,000,000 of the shares to its sophisticated clients. The Company thanks Patersons for its support.

The funds raised from the issue will be applied to ongoing exploration and evaluation programmes, evaluation and acquisition of new opportunities, corporate and administrative activities and working capital and the costs of the issue.

Other Operations

During the quarter the Company continued to review a number of mining and exploration prospects, to seek opportunities that would enhance the shareholders wealth, and will report any developments in that area if successful.

GORDON S. HATCH Managing Director

Geological aspects of this report that relate to Exploration Results have been compiled by Dr Bryan Smith (MAIG, MAIMM), an independent consultant to Black Ridge Mining NL. Dr Smith has sufficient experience relevant to the style of mineralization and type of deposit under consideration and to the activity upon which he is reporting on as a Competent Person as defined in the 2004 Edition of "The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves." Dr Smith consents to the inclusion in this report of the matters based on the information compiled by him, in the form and context in which it appears

Information in this report that relates to metallurgical results reflects information compiled by Mr Brian Povey, who is a Principal Consulting Metallurgist with ProMet Engineers, a fellow of the AusIMM, and an independent consultant to the company. Mr Povey has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity upon which he is reporting on as a Competent Person as defined in the 2004 Edition of "The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves." Mr Povey consents to the inclusion in this report of the matters based on the information compiled by him, in the form and context in which it appears.