SUREFIRE RESOURCES NL — Interim / Quarterly Report 2013

Jan 31, 2013

31 JANUARY 2013

QUARTERLY ACTIVITIES REPORT – DECEMBER 2012

Mutnovskaya Gold and Silver project, Far Eastern Russia

In December, Black Ridge Mining NL ("Black Ridge" or "the Company") announced that it had secured due diligence rights in the Mutnovskaya gold-silver epithermal deposit ("the Project") on the Kamchatka Peninsula of Far Eastern Russia. The Project is favourably situated 90km from the port city of Petropavlovsk-Kamchatsky and 2km from an underutilised geothermal power station

Due diligence and desktop evaluation of geological data has commenced is expected to be completed during the 1st Quarter 2013 upon which formal documentation will be entered into.

The Project is located in the South-eastern tip of the Kamchatka Peninsula only 5km away from the Sea of Okhotsk and is comparatively well served by infrastructure.

Figure 1: Location

The main access for land freight to the project area will be from the port facilities at Petropavlovsk-Kamchatsky (the capital city of Kamchatka) which is located only 60km to the north of the project area. Petropavlovsk-Kamchatsky town and Mutnovskaya are connected by a combined tar-gravel all-season road for a total distance of 90km. The nearest village to the license area is Thermal some 45km to the north and is served by a gravel all-season road.

Figure 2: All season road Figure 3: Geothermal Power Station

A distinct advantage of the project location is its proximity to the Upper-Mutnovskaya Geothermal Station, which is only 2km to the west. The project already has secured a contract to draw power for running all mining operations, but at present the power output of the station is only 50% of capacity, giving the project potential access to extra power if demand so requires.

The Project has received a State approved TEO (which is broadly the Russian equivalent of a Pre-Feasibility Study) and includes the environmental approvals for the development of an underground, high-grade goldsilver mine with a 9 year mine life.

An existing database of completed exploration sampling includes 4,553 trench samples and 40 diamond drill holes totaling 9,232m has formed part of the due diligence information currently being evaluated..

Unaly Hill (E57/420), Western Australia – Vanadium-Magnetite

The Company has previously announced a Vanadium-Magnetite Inferred Mineral Resource with over 86 million tonnes of 0.42% V2O5 at a 0.30% cut-off grade and confirmation of similar mineralization type to Quest Minerals Limited's (ASX:QNL) Victory Bore Deposit. There are two significant high-grade zones and the deposit remains open along strike and depth with the potential to increase the estimated resource.

Following the announcement of the Inferred Mineral Resource in 2011, the Company has been investigating opportunities to maximize on its return before any additional exploration takes place, given that the project tonnages are already substantial. An option under discussion with its consultants is the processing of fine crushings by densimetric beneficiation involving jig and spirals, or heavy-media, rather than conventional fine-grind and magnetic concentration; which enables the transitional oxide zone as well as the primary BIF to be commercialized. The metallurgical validation of the densimetric process route is still under review.

Durminskoe Gold and Silver project, Far Eastern Russia

The Company continues to explore ways in which the returns from this project can be optimized and initiatives are underway to advance the project further. Current prices have added to the attractiveness of this project and the Company is reviewing with its consultants a number of options regarding its development.

The Company continues to actively pursue its objective of identifying value adding project opportunities and to create shareholder wealth. Discussions have been ongoing on a number of opportunities but have not yet reached a conclusion.

Corporate

The Annual General Meeting was held on 7 November 2012.

Unexercised options previously listed with ASX code BRDOA expired on 31 December 2012.

STUART THIRD Company Secretary

QUALIFYING STATEMENTS

JORC compliance

The information in this report that relates to the drilling data and geological interpretations is based on information compiled by Mr V Trashliev who is a member of the South African Council for Natural Scientific Professions ("SACNASP"). Mr Trashliev is responsible for the Mineral Resource modelling and reporting and is an employee of Gemcom Pty Ltd. The Competent Person responsible for the Independent Audit of the Mineral Resource is Mr Andrew Bewsher from BM Geological Services Pty Ltd and is a member of the Australian Institute of Geoscientists (MAIG). Both persons have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that they are undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and do consent to the inclusion in the report of the matters based on information in the form and context in which it appears.

Disclaimer

The initial documents and geological records relating to the Mutnovskaya Project were originally recorded in the Russian language, written in the Cyrillic alphabet and translated to English by Mr Vladislav Trashliev who is a member of the South African Council for Natural Scientific Professions ("SACNASP"). Mr Vladislav Trashliev is an employee of Gemcom Pty Ltd. He has sufficient experience that is relevant to the project under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Vladislav Trashliev has consented to the inclusion of this information in the form and context in which it appears.

The reports from the Russian authorities were prepared by informed individuals, who may or may not be considered qualified persons under the definition of JORC.

Appendix 5B

Rule 5.3

Mining 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

Name of entity

BLACK RIDGE MINING NL

ABN Quarter ended ("current quarter")

Current quarter $A'000

48 083 274 024 31 DECEMBER 2012

Year to date (6 months)

Consolidated statement of cash flows

Cash flows related to operating activities

			$A'000
1.1	Receipts from product sales and related debtors	-	-
1.2	Payments for(a) exploration & evaluation	(37)	(113)
	(b) development	-	-
	(c) production	-	-
	(d) administration	(192)	(347)
1.3	Dividends received	-	-
1.4	Interest and other items of a similar naturereceived	2	5
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Other (provide details if material)	55	55
	Net Operating Cash Flows	(172)	(400)
	Cash flows related to investing activities
1.8	Payment for purchases of:(a) prospects	-	-
	(b) equity investments	(50)	(50)
	(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	(50)	(50)
1.13	Total operating and investing cash flows
	(carried forward)	(222)	(450)

+ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows
	(brought forward)	(222)	(450)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.	1	1
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 (Placement fees)	-	-
	Net financing cash flows	1	1
	Net increase (decrease) in cash held	(221)	(449)
1.20	Cash at beginning of quarter/year to date	353	581
1.21	Exchange rate adjustments to item 1.20	-	-
1.22	Cash at end of quarter	132	132

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

		Current quarter$A'000
1.23	Aggregate amount of payments to the parties included in item 1.2	161
1.24	Aggregate amount of loans to the parties included in item 1.10	-

1.25 Explanation necessary for an understanding of the transactions Directors and Consulting Fees

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 reporting entity has an interest

+ See chapter 19 for defined terms.

Financing facilities available

Add notes as necessary for an understanding of the position.

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

Estimated cash outflows for next quarter

	Total	185
4.4	Administration	105
4.3	Production	-
4.2	Development	-
4.1	Exploration and evaluation	80
		$A'000

Reconciliation of cash

Reconciliation of cash at the end of the quarter (asshown in the consolidated statement of cash flows) tothe related items in the accounts is as follows.		Current quarter$A'000	Previous quarter$A'000
5.1	Cash on hand and at bank	2	26
5.2	Deposits at call	130	327
5.3	Bank overdraft	-	-
5.4	Other (provide details)	-	-
	Total: cash at end of quarter (item 1.22)	132	353

Changes in interests in mining tenements

		Tenementreference	Nature of interest(note (2))	Interest atbeginningof quarter	Interest atend ofquarter
6.1	Interests in miningtenements relinquished,reduced or lapsed	N/A
6.2	Interests in miningtenements acquired orincreased	N/A

+ See chapter 19 for defined terms.

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	Amount paid up per
				security (see note	security (see note 3)
7.1	Preference			3) (cents)	(cents)
	+securities
	(description)
7.2	Changes duringquarter	87,707	87,707
	(a) Increases
	through issues
	(b) Decreases
	through returnsof capital, buy
	backs,
	redemptions
7.3	+Ordinarysecurities	754,560,658	754,560,658
7.4	Changes during
	quarter
	(a) Increases
	through issues(b) Decreases
	through returns
	of capital, buy
7.5	backs+Convertible
	debt securities
	(description)
7.6	Changes during
	quarter(a) Increases
	through issues
	(b) Decreases
	throughsecurities
	matured,
	converted
7.7	Options(description and
	conversion
	factor)
7.8	Issued duringquarter
7.9	Exercised duringquarter	87,707	87,707
7.10	Expired during			Exercise price	Expiry date
	quarter	150,806,883	150,806,883	$0.015	31 December 2012
7.11	Debentures
	(totals only)
7.12	Unsecured
	notes (totalsonly)

+ See chapter 19 for defined terms.

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 give a true and fair view of the matters disclosed.

Sign here: ............................................................ Date: 31 January 2013

Company Secretary

Print name: STUART THIRD

Notes

• 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 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, 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.