EL008468 - Dingle

The area applied for under the Exploration Licence has a history of small scale reef mining. Not many
mines were developed below 30 metres and scope exists for determining if some of the more
productive lines of workings do in fact have depth potential. Exploration will primarily focus on
developing a ranking of potential structures worthy of future exploration as well as attempting to
identify new exploited structures using modern exploration technology.

The primary sources of the predominantly alluvial gold historically mined in the Beechworth and
Stanley areas has been identified as coming from quartz vein structures in the surrounding
Ordovician sedimentary rocks. While many historic mining sites are recorded, the presence of
multiple undocumented prospecting sites and isolated hard rock anomalies identified by previous
explorers represent initial points of interest.

Several geophysical anomalies have not been fully examined or tested to determine if they may be
the source of localised mineralisation.

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Year 1: Geological Review
Compilation and interpretation of all previous historical geological and surface geochemistry data,
literature and results into an internal Geological Assessment Report. This report will potentially also
include re-interpretation of all available geophysical data and the updating of any geological
mapping. The information in this Report will be used for exploration planning (refer Year 2).

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Year 2: Low Impact Exploration Program
Discussions with Earth Resources Regulation (ERR) to confirm the ability for Low Impact Exploration
(L.I.E.) to be undertaken on the licence. The proposed works under the LIE will include;

• On ground geological mapping,

• Identification and recording of historic prospecting activities and sites.

• Ridge and spur geochemical sample collection and analysis,

• Rock sample collection and analysis.

The aim of this program is to identify primary targets that can become the focus of future higher-
level exploration and for the basis for the lodgement of a formal Work Plan if required.

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Year 3: Formal Work Plan Exploration Program
Assuming that Year 2 work identifies multiple high-level target worthy of further follow exploration
work if activities are unable to be undertaken under L.I.E. guidelines then a Work Plan will need to
be developed in accordance with the Regulators to allow for the most appropriate method of testing
to be undertaken, this may include either geophysical surveying, trenching, drilling or similar.

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Year 4: Follow-up Exploration Program
Assuming positive results are attained in Year 3 exploration activities may include additional follow-
up drilling, infill drilling or step-out drilling. If no favourable results are returned during the testing of
the high-level targets, then testing will occur on the lower order targets. Additional geochemical
surveys may be undertaken if additional areas of interest are identified.

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Year 5: Follow-up Exploration Program
Assuming positive results are attained in Year 4 exploration activities may include additional follow-
up drilling, infill drilling or step-out drilling. If no favourable results are returned during the testing of
the high-level targets, then testing will occur on the lower order targets. Additional geochemical
surveys may be undertaken if additional areas of interest are identified.