SUREFIRE RESOURCES NL — Interim / Quarterly Report 2014

Jul 30, 2014

QUARTERLY ACTIVITIES REPORT JUNE 2014

New Project Review

During the quarter Black Ridge Mining NL (ASX: BRD or “the Company”) has continued to concentrate its efforts on reviewing acquisition opportunities both within Australia and overseas. Whilst a number of projects have been reviewed, an appropriate acquisition opportunity has not yet been identified.

Unaly Hill Project (E57/420), Western Australian – Vanadium, Titanium, Magnetite, Gold

During the June 2014 Quarter, investigations were furthered into the potential economic viability of the project, including extraction, processing and transportation of mineable ore. A preliminary Scoping Study is anticipated to commence during the next quarter to demonstrate the potential positive economics of the project based on the inferred resource (see BRD:ASX announcement, 21[st] /11/2011) of 86 million tonnes of 0.42% V205 at a 0.3% cut-off, hosted within a titaniferous magnetite.

Not only is the vanadium resource a potential mining operation for BRD but so is the iron, either via separation, or as a combined ferrovanadium product. The resource is completely open, both in strike and dip extent, and the company has acknowledged that an increase in the size of the resource is not just probable, but likely. Further, detailed airborne magnetic imagery shows the host units continue far beyond the limited extent of the RC and diamond drilling that has already taken place and elicited the resource.

The deposit consists of two separate high grade zones which remain open both along strike and at depth. The lease is adjacent to Quest Minerals Limited’s (ASX: QNL) Victory Bore Deposit and is metallurgically similar.

Gold Potential

The company continues to review the potential for further gold mineralisation at E57/420. The project covers 13 strike kilometres of the regional scale Youanmi Fault, a structure that forms the boundary between the Murchison Domain and the Southern Cross Domain of the Youanmi Terrane. Gold deposits associated with this structure include the +1Moz gold deposit at Youanmi to the south and is related to gold mineralization further NE at Sandstone Mining Center where

which includes the +1Moz Bulchina Gold Deposit within the +2Moz cluster of deposits at Sandstone.

In the vicinity of Sandstone, at the Two Mile Hill deposit, Troy Resources reported in 2009, intersections of significant mineralization associated with quartz stock-work veining within BIF and tonalite lithologies. Drilling by Battle Mountain Gold during the 1990’s identified strong gold mineralization at Victory Bore immediately north of Unaly Hill, and also revealed the presence of not just banded iron formations, but intermediate tonalite intrusions. The presence of these lithologies in the vicinity of gold mineralization provide an important model and target for future drilling campaigns for gold which may be concentrated at the contact between the volcanic and BIF units of the greenstone belt and cross cutting tonalite intrusions. At Two Mile Hill, this setting has created a conceptual target for high grade gold shoots and may be applicable at Unaly Hill.

Extension of Term Granted

During the March Quarter an Extension of Term/Renewal was applied for tenement E57/420 for a period of 2 years. On July 1[st] 2014, approval was granted by the DMP to extend the life of this lease. Following the outcome of a Scoping Study, expected to commence late during the next quarter, Licence E57/420 is expected to be converted to a Mining Lease.

Schedule of Tenements

Project	Tenement Details	Interest
Western Australia Unaly Hill	E57/420	100%

Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

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 48 083 274 024

Quarter ended (“current quarter”) 30 June 2014

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 (provide details if material) Net Operating Cash Flows	Current quarter $A’000	Year to date (9 months) $A’000
	(27) - - - - - - -	(80) - - (21) - - - - -
	(27)	(101)
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)	- - - - - - - - -	- - - - - - - - -
	-	-
	(27)	(101)

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

1.13 Total operating and investing cash flows (brought forward)	(27)	(101)
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 (Placement fees) Net financing cash flows	- - 34 - - -	- - 78 - - -
	34	78
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	7 2 -	(23) 32 -
	9	9

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

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
		-
		-
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 reporting entity has an interest

• See chapter 19 for defined terms.

Appendix 5B Page 2

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Appendix 5B Mining 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
	100	44
	-	-

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	40
	-
	-
	12
Total	**52 **

Reconciliation of cash

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)	1	1
	1	1
	-	-
	-	-
Total: cash at end of quarter(item 1.22)	2	2

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note (2))	Interest at beginning ofquarter	Interest at end of quarter
	N/A
	N/A

• See chapter 19 for defined terms.

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Appendix 5B Mining exploration entity quarterly report

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	754,560,658	754,560,658
7.5 +Convertible debt securities(description) 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
			Exercise price	Expiry date
7.11 Debentures (totals only)
7.12 Unsecured notes (totals only)

• See chapter 19 for defined terms.

Appendix 5B Page 4

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Appendix 5B Mining exploration entity quarterly report

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.

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Sign here: ............................................................ Date: 31 July 2014 Company Secretary

Print name: Graeme Smith

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.

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