SUREFIRE RESOURCES NL — Interim / Quarterly Report 2009

Jan 28, 2010

QUARTERLY ACTIVITIES REPORT – DECEMBER 2009

Corporate

On 16 November 2009, the company ( BRD ) announced that confirmation had been received from the ASIC for the change of company type from a public company limited by shares to a public no liability company.

On 23 December 2009, BRD announced the issue of 29,420,000 shares at an issue price of $0.01 each. The placement of these shares was approved by shareholders at a general meeting held on September 21st 2009.

The placement raised $294,200 to fund ongoing exploration activities, working capital, corporate and administrative costs and the identification of new opportunities.

Western Australia – E57/420 (Unaly Hill)

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On 18 December 2009, BRD announced the results of the diamond drilling program to the south of the tenement in which wide intervals of high grade magnetite, vanadium and titanium were identified.

In particular, hole UH4 intersected multiple zones of high grade mineralization through to the down hole depth of 320 metres, at which time, it was decided to complete the hole, even though it was still in mineralization. The widest band of high grade mineralization was 117 metres between 170 and 287 metres down hole which produced an average of 34.56% Fe, 0.66% V2O5 and 9.56% TiO2 .

The 26 metres prior to completing the hole, still produced almost identical grades on average and further testing under a separate program, will determine the full depth of the ore body.

Of major importance to the company, was the high grade nature of the material throughout including 42 intervals between 30 - 40% Fe, and more than 70 intervals above 40%, with 19 intervals above 50% Fe .

Significantly, of those high grade zones, there were many in the 1-3 metre intervals with the following considered to be of special interest to the program

Between down hole depth	113.00	–	118.05m	(5.99	metres)	45.93% Fe ave.
	170.02	–	176.00m	(5.98	metres)	45.81% Fe ave.
	181.33	–	191.00m	(9.70	metres)	46.74% Fe ave.
	264.70	–	272.00m	(8.30	metres)	48.30% Fe ave.
	279.55	–	286.30m	(6.75	metres)	50.98% Fe ave.
	294.04	–	303.00m	(8.60	metres)	48.32% Fe ave.

The photo below is from the interval at 184 – 185 metres @ 49.70% Fe and is typical of all high grade zones

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As previously announced, BRD entered into an Exclusive Dealing Agreement (in association with Quest Minerals Ltd - QNL ), with the Chinese Donghui Group. The agreement allowed the Donghui Group 120 days to conduct further studies and to determine whether it will participate in the future development of Unaly Hill under a joint venture or, similar arrangement with BRD . This initial agreement was further extended for

an additional period of 120 days to allow continuing evaluation of the latest drilling results and metallurgical testing to be completed, both locally and, in China.

The company expects substantial progress on these discussions in the next quarter.

The Donghui Group is one of the largest producers of coal and associated products in the mining and industrial Shanxi Province. It produces 2.7million tones of metallurgical coke per annum. Representatives of the company visited Perth during the first week of October for a series of round table discussions and site visitation.

Although the main activity of the property is directed towards the magnetite, vanadium and titanium prospects, the area is still being evaluated for the prospectivity of gold which to date, has been the subject of discontinuous exploration activity in the past. It is considered that the tenement is clearly prospective for gold given that it straddles the regional scale Youanmi Shear Zone.

Overseas – Bengkulu Coal Prospect (Indonesia)

As announced on 7 December 2009, the company has entered into an Exclusive Dealing Agreement with Indonesian company PT.Inmas Abadi, in relation to their sub bituminous coal deposit in Bengkulu Province, on the island of Sumatra.

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Under the agreement, the company has the exclusive right for a period of five months to conduct Due Diligence in respect of legal and geological documentation for the concession area, presented by the vendor. The concession has a total area of 7,687 ha of which, preliminary investigation and historical atdepth testing has taken place on 1,000 ha only. Early documentary indications, lends weight to the claim by the vendor that an extensive resource may be present and will form the basis of the evaluation process by BRD , and all avenues of confirming credibility will be exhausted within the Due Diligence period.

The photo left is after signing of the EDA with Ir. Raymond W. Tuwanakotta representing the owners.

The Bengkulu Province is one of the most significant coal producing regions in Indonesia and the market for sub bituminous coal is largely directed towards local power utilities with the Indonesian government being a primary market for producers. Indeed, the government power utility PT Perusahaan Listrik Negara (PLN), is well into the first stage of fast tracking its 10,000MW power plant expansion and has declared it will be requiring in the next nine years, an additional 30,000,000 tons pa from present levels. Stage 2 of an additional 10,000MW would follow.

BRD will continue to explore the availability of more quality coal and gold deposits in Indonesia, and is presently broadening and strengthening the base for future opportunities in that market.

Other Operations

During the quarter, BRD continued to review a number of mining and exploration prospects both locally and overseas, with more emphasis placed on the overseas sectors.

The company continues to seek out opportunities for further entry into the mining exploration sector and is hopeful of bringing to the table, projects with merit for shareholders.

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Gordon S. Hatch Managing Director

Information in this report that relates to exploration results reflects information compiled by Mr Paddy Reidy, who is a consultant to Black Ridge Mining and a member of the AusIMM. Mr Reidy 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 Exploration Results, Mineral Resources and Ore Reserves.” Mr Reidy 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.