Ann: Contingent Liability Update, page-7

MPS is conducting a separate concept study to assess the viability of the Emmie Bluff Cu-Co-Ag prospect, located on the northern part of the tenements. Emmie Bluff has a historical non-JORC compliant mineral estimate which will be used to assess viability of the prospect. If positive, this may provide a significant exploration target for additional work. - A major exploration targeting campaign across the tenement package, which comprises over 800km2 of prospective ground, is underway to assess the potential for both additional sedimentary hosted mineralisation and IOCG mineralisation. - The South Australian government, in partnership with Geoscience Australia, has recently completed a highresolution airborne geophysical and terrain imaging programme over the Mt Gunson tenements, with the results expected imminently. The magnetic, radiometric and elevation data gained by this programme, combined with historic and new data compilation, will be used to refine and optimise exploration targeting work at Mt Gunsonwith


the results expected imminently.

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