SUREFIRE RESOURCES NL — Interim / Quarterly Report 2010

Jan 26, 2011

Appendix 5B

Rule 5.3

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of entity

BLACK RIDGE MINING NL

ABN Quarter ended ("current quarter")

Year to date

48 083 274 024 31 DECEMBER 2010

Current quarter

Consolidated statement of cash flows

Cash flows related to operating activities

Cash flows related to operating activities		$A'000	(6.months)$A'000
1.1	Receipts from product sales and related debtors	-	-
1.2	Payments for(a) exploration and evaluation	(18)	(300)
	(b) development	-	-
	(c) production	-	-
	(d) administration	(225)	(351)
1.3	Dividends received	-	-
1.4	Interest and other items of a similar naturereceived	8	11
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Other (GST Refund)	-	-
	Net Operating Cash Flows	(235)	(640)
	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	-	-
	Net investing cash flows	-	-
1.13	Totaloperatingandinvestingcashflows
	(carried forward)	(235)	(640)

+ See chapter 19 for defined terms.

1.13	Totaloperatingandinvestingcashflows
	(brought forward)	(235)	(640)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.	1,014	1,014
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)	(57)	(57)
	Net financing cash flows	957	957
	Net increase (decrease) in cash held	722	317
1.201.21	Cash at beginning of quarter/year to dateExchange rate adjustments to item 1.20	171-	576-
1.22	Cash at end of quarter	893	893

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	77
1.24	Aggregate amount of loans to the parties included in item 1.10	-

1.25 Explanation necessary for an understanding of the transactions Managing Directors salary / Directors 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	275
4.4	Administration	175
4.3	Production	-
4.2	Development	-
4.1	Exploration and evaluation	100
		$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	20	21
5.2	Deposits at call	873	150
5.3	Bank overdraft	-	-
5.4	Other (Security Deposit)	-	-
	Total: cash at end of quarter (item 1.22)	893	171

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	Issuepricepersecurity (see note	Amount paid up persecurity (see note 3)
7.1	Preference+securities			3) (cents)	(cents)
7.2	(description)Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buybacks,
7.3	redemptions+Ordinarysecurities	603,578,361	603,578,361
7.4	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthrough returnsof capital, buybacks	137,000,000	137,000,000	$0.0074
7.5	+Convertibledebt securities(description)
7.6	Changes duringquarter(a) Increasesthrough issues(b) Decreasesthroughsecuritiesmatured,converted
7.7	Options(description andconversionfactor)	10,500,0001,000,0001,000,0001,000,000	----	Exercise price$0.10$0.04$0.07$0.10	Expiry date31 December 201130 November 201230 November 201230 November 2012
7.8	Issued duringquarter
7.9	Exercised duringquarter
7.10	Expired duringquarter	101,150,0001,700,000	101,150,000-	$0.03$0.04	30 November 201031 December 2010
7.11	Debentures(totals only)
7.12	Unsecurednotes (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 4).
• 2 This statement does give a true and fair view of the matters disclosed.

Sign here: ............................................................ Date: 28 January 2011 (Company Secretary)

Print name: DAVID SEMMENS

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 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.
• 5 Accounting Standards ASX will accept, for example, the use of International Accounting 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.