SUREFIRE RESOURCES NL — Interim / Quarterly Report 2015

Jul 30, 2015

Black Ridge Mining NL

ASX Code: BRD ACN: 083 274 024

Registered Office

c/ Ground Floor 63 Hay Street Subiaco WA 6008

t: +61 (8) 9 322 7822

www.blackridgemining.com.au

Capital Structure

854,561,658 ordinary shares

Board Members

Peter Elliott Non-Executive Chairman

Thomas Gilfillan Non-Executive Director

Vladimir Nikolaenko Non-Executive Director

Graeme Smith Company Secretary

Quarterly Report – June 2015

PROJECT HIGHLIGHTS

• MMI infill and extensional Mobile Metal Ion ("MMI") soil sampling completed at Unaly Hill Project yields strong gold and base metal results improving on the previous survey
• Gold anomalism up to 104RR, nickel up to 40.3RR, Magnesium up to 166.7RR

CORPORATE HIGHLIGHTS

• Entitlements Issue - $1.7million Entitlements Issue undertaken
• Appointment of Geoscience Technical Adviser
• Strategic Alliance signed for the utilization of PetroLocate Technology PL14

MINERAL EXPLORATION ACTIVITIES

Unaly Hill Project, Yilgarn Block WA (100% BRD)

Mobile Metal Ion ("MMI") Sampling Completed

During the June Quarter Black Ridge Mining NL carried out further MMI soil sampling at the companies Unaly Hill Project. This program followed a successful survey completed during the December 2014 Quarter which yielded several of multi-element anomalies, notably gold, nickel, and vanadiumtitanium-iron (BRD ASX Announcement 6/3/2015).

A total of 312 new samples were removed and sent to SGS Laboratories in Perth for multi element MMI analysis. The survey line spacing was reduced from 500m to 250m to test continuity of metal anomalies along strike while maintaining a sample spacing of 75m. Infill lines were also extended by 1km to the north where previously announced gold and base metal anomalies remained open.

The second round has confirmed and improved upon existing anomalies in terms of amplitude and strike length continuity, extending nickel and gold anomalies to the north by 1,000m where they effectively remain open. Peak anomalies were improved on from the first program, especially for gold with a Response Ratio ("RR") some 104 times the geochemical background (25th quartile).

Several new coincident vanadium, titanium, and iron anomalies were also discovered indicating a number the likelihood of several further vanadiferous titanomagnetite units present within the Atley Igneous Complex ("AIC"), a layered mafic intrusion.

The Unaly Hill Project (E57/420) is situated some 500km north east of Perth, Western Australia and is a single tenement covering over 13 kilometres of the strike length of the regionally significant Youanmi Fault. This structure represents the boundary between the Murchison Province and the Southern Cross Province of the Youanmi Terrane of the Yilgarn Craton. Immediately west of the Fault is the Atley Igneous Complex.

Figure 1 Regional Geology showing the Atley Igneous Complex

The initial program (December 2014) was implemented utilising the MMI technique for its ability to see anomalies concealed beneath transported soils. Historic conventional soil sampling surveys carried out at the project had largely been shown to be ineffective in defining significant metal soil anomalism. The MMI soil sampling and analytical method has been commercially developed to detect buried mineralisation beneath regolith and/or transported cover. Results are given in parts per billion (ppb) range with the lower (25th) quartile used as the statistical background and element anomalies calculated as a response ratio (RR) relative to the background. Samples were sent to SGS laboratories in Perth for analysis of a suite of 19 elements which included Ag, Al, As, Au, Cd, Co, Cr, Cu, Fe, Mg, Mn, Ni, Pb, Pd, Pt, S, Ti, V, and Zn.

RESULTS

Response ratios were calculated for each of the 19 elements. A response ratio measures the degree of enrichment of each element per sample, and is calculated by comparing each result per element per sample with the background in that element.

Targets warranting further investigation were grouped into base metal (nickel), gold, vanadiferous titanomagnetite targets.

Gold

Peaking at 104 RR, the gold anomaly from the 2014 MMI survey was infilled and extended by 1,000m to the north. New sample lines at 250m spacing served to strengthen the robustness of the anomaly, while several new lines further to the north have extended the strike length by 1km. The main north east gold anomaly, delineated by being greater than 20 RR, is now over 1.6km in strike length and open to the north. A central higher grade "core" of the anomaly, greater than 40 RR, is over 1km in strike length, bearing generally north-south. This well attenuated anomaly is situated just east of the Youanmi Fault structure and the strike direction of the anomaly may represent a mineralised secondary structural splay.

This anomaly has not been effectively tested by historic RAB drill traverses and represents a significant target which will be investigated further. The anomaly is open to the north, north-east and will be subject to further sampling to test its extent and amplitude.

Figure 2 MMI gold anomalies in the north east corner of the survey area on magnetic image

Nickel

The recent sampling program has extended a significant nickel anomaly situated adjacent to the aforementioned gold anomaly in the north east corner of the survey area. Several other moderate nickel anomalies exist, however the north east corner now has coincident high magnesium with a peak response of 166.7 times the geochemical background from a sample that yielded a nickel anomaly greater than 40 RR and 12 RR cobalt. This is highly significant as it suggests that the narrow tremolite-chlorite ultramafic units known to occur in the area may also be accompanied by higher MgO units which are considerably more fertile for bearing nickel sulphides and therefore targets for further investigation.

The nickel anomaly is strongly linear and consistent across a strike length of 1.7km and is open to the north.

Figure 3 Unaly Hill MMI Nickel Anomalies on GSWA Geology

These anomalies, particularly the gold and base metals, are highly encouraging and warrant further infill and extensional sampling surveys, scheduled to be carried out during the September Quarter 2015.

CORPORATE

Non Renounceable Entitlements Issue

On 5 June 2015 Black Ridge (Company) announced that the Company would be conducting a pro-rata nonrenounceable entitlement issue to shareholders of approximately 854,561,658 fully paid ordinary shares (Shares) at an issue price of $0.002 per Share on the basis of one (1) New Share for every one (1) Share held at 5:00pm (WST) on 15 June 2015 together with one (1) Free Attaching Option for each Share issued (Record Date), to raise approximately $1,709,123 before expenses (Entitlement Issue).

The Entitlement Issue will be made to all registered shareholders on the Record Date who are recorded on the Company's register as residing in Australia and New Zealand. All other shareholders are not eligible to participate in the Entitlement Issue and will be notified by the Company separately.

Black Ridge Signs Letter of Intent for Strategic Alliance

Black Ridge has, through its wholly owned subsidiary Oil & Gas SE Pty Ltd, has signed a Letter of Intent to establish a strategic alliance with Asto Geophysical Consulting Pty Ltd for the utilization of the Companies oil and gas exploration equipment, using the Seismoelectric PL14 technology.

This cutting edge new generation technology, PetroLocate PL14, is designed specifically for detecting resistive liquids (oil, gas and water) to a depth of up to 3,000 meters.

Asto Geophysical Consulting Pty Ltd is a geophysical consulting company which provides state of the art geophysical services to the Oil and Gas industry. It is actively engaged internationally, with an accent on South East Asia. These services include survey design, acquisition, processing, interpretation and integration of acoustic and borehole seismic data.

Their professional staff have a wealth of experience, many having spent their formative years with major international geophysics companies.

Appointment of Geoscience Technical Advisor

The Company is pleased to announce that it has appointed Mr. Trent Spry as Geo Science Technical Advisor to the Company.

Mr. Spry's role will be to progress through its wholly owned subsidiary company, Oil & Gas SE Pty Ltd, the Seismoelectric exploration technology, PetroLocate, to Oil and Gas exploration companies through the regions of Australia, Indonesia, Thailand, Malaysia, Myanmar and Cambodia.

This recently developed cutting edge new generation Seismoelectric (Patent Pending Pub. No: US2014/0111207 A1) technology is designed specifically for locating resistive liquids (oil, gas and water) to a depth of up to 3,000 meters and is having considerable success in a number of oil and gas drilling locations in the USA.

Mr Spry has over 20 years of global experience in the oil and gas industry. He has a broad technical background covering geophysics, remote sensing, geology, and basin modelling allowing him to integrate these different data sets to aid in prospect identification, evaluation and risk reduction and consulted for and technically advised international and national energy companies on oil and gas prospectivity and play analysis. Mr. Spry has an excellent track record of finding oil and gas and identifying quality prospects and hydrocarbon plays, having been involved in successful bidding and numerous oil and gas discoveries in Australia, throughout Southeast Asia, including India and in the US.

SCHEDULE OF TENEMENTS

Project	Tenement Details	Interest
Western AustraliaUnaly Hill	E57/420	100%

Competent Persons Statement

Information in this report relating to exploration results is based on information compiled by consultant geologist, Mr Martin Dormer, who is a member of the Australian Institute of Mining and Metallurgy. Mr Dormer 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 under the 2012 Edition of the 'Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Dormer operates as Martin Matthew Bruce Dormer and Pennelope Anne Dormer as trustees for the Dormer Family Trust trading as "Unearthed Elements". Mr Dormer consents to the inclusion of such information in this report and the context in which it appears.

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

48 083 274 024 30 June 2015

ABN Quarter ended ("current quarter")

Consolidated statement of cash flows

		Current quarter	Year to date
Cash flows related to operating activities		$A'000	(12 months)$A'000
1.1	Receipts from product sales and relateddebtors
1.2	Payments for(a) exploration & evaluation(b) development	(25)-	(75)-
	(c) production(d) administration	(16)	(61)
1.3	Dividends received	-	-
1.4	Interest and other items of a similar naturereceived	-	-
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	(41)	(136)
	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)	(41)	(136)

+ See chapter 19 for defined terms.

Appendix 5B Mining exploration entity quarterly report

1.13	Total operating and investing cash flows
	(brought forward)	(41)	(136)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.	53	103
1.15	Proceeds from sale of forfeited shares	-	-
1.16	Proceeds from borrowings	1	40
1.17	Repayment of borrowings	-	-
1.18	Dividends paid	-	-
1.19	Other (Placement fees)	-	-
	Net financing cash flows	54	143
	Net increase (decrease) in cash held	13	7
1.20	Cash at beginning of quarter/year to date	2	8
1.21	Exchange rate adjustments to item 1.20	-	-
1.22	Cash at end of quarter	15	15

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	-
1.24	Aggregate amount of loans to the parties included in item 1.10	-

1.25 Explanation necessary for an understanding of 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.

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	100	100
3.2	Credit standby arrangements	-	-

Estimated cash outflows for next quarter

		$A'000
4.1	Exploration and evaluation	10
4.2	Development	-
4.3	Production	-
4.4	Administration	20
	Total	30

Reconciliation of cash

Reconciliation of cash at the end of the quarter (asshown 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	15	2
5.2	Deposits at call	-	-
5.3	Bank overdraft	-	-
5.4	Other (provide details)	-	-
	Total: cash at end of quarter (item 1.22)	15	2

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
6.2	Interests in miningtenements acquired orincreased

+ 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 persecurity (seenote 3) (cents)	Amount paid upper security (seenote 3) (cents)
7.1	Preference+securities(description)
7.2	Changes during quarter(a) Increases throughissues(b) Decreases throughreturns of capital, buybacks, redemptions
7.3	+Ordinary securities	854,561,658	854,561,658
7.4	Changes during quarter(a) Increases throughissues(b) Decreases throughreturns of capital, buybacks
7.5	+Convertible debtsecurities (description)
7.6	Changes during quarter(a) Increases throughissues(b) Decreases throughsecurities matured,converted
7.7	Options (descriptionand conversion factor)
7.8	Issued during quarter	50,000,000	50,000,000
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.

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 July 2015

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.