Ann: 36% Increase to Ulysses Gold Project Mineral Resource, page-5

Latest Report Key Points:
Updated Measured, Indicated and Inferred Mineral Resource estimate completed for the 100%-owned Ulysses Gold Project in Western Australia, totalling: o 2.8 million tonnes at 2.3g/t Au for 206,400 contained ounces of gold 
This represents a 32% increase in tonnage and 36% increase in contained ounces compared with the previous (February 2016) Resource of 2.13Mt at 2.2g/t for 151,500oz.
The most recent limited mining campaign at the Ulysses West Open Pit has now been completed, with a total of 7,500 tonnes of high-grade material (~5g/t Au) successfully extracted. The ore has been hauled to the Paddington mill for processing. Payments for the more recent campaign expected in May and June.  Genesis is now evaluating the potential to undertake a further cut-back at the Ulysses West Open Pit to extract ~10,000 tonnes of high-grade material commencing in June. A decision will be made on this by the end of May. 
The Company is also now evaluating the potential for a small-scale underground mining operation to extract some of the deeper high-grade ore below the open pits. 
Any underground mining operation is likely to be undertaken via a mining partnership with an experienced underground contractor in order to minimise risk and capital requirements for Genesis. If a suitable development pathway is identified, a Feasibility Study will be undertaken in the second half of 2017