Ann: Diamond Drill Program Commences at Ianna, Guyana, page-10

Chairman notes

"This has been an exciting year of growth and achievement for our Company with the acquisition of the Ianna gold project in combination with significant advancement of the Arakaka gold project. Following those two key developments, among several milestones achieved by the Alicanto team in the past year, the Company has never been better poised for opportunity to substantially add value through discovery.

The Arakaka Gold project continues to be progressed on both the Main Trend and Xenopsaris target areas with a high standard of technical work by Alicanto’s team and with strong technical support from Barrick Gold Corp. (“Barrick”). Barrick has incrementally accelerated exploration expenditure on the Arakaka project under the US$10m Earn-In Agreement announced 1 March 2016 as our exploration team continues to de-risk the exploration process and demonstrate significant bulk tonnage potential. Reconnaissance work reported over the past year has advanced Arakaka from a grassroots project to a more advanced targeted drill testing stage.

The recently acquired Ianna gold project is an advanced stage exploration target with several drilled zones of open-ended mineralisation requiring follow-up. Alicanto’s management sees potential to substantially increase the tonnage potential of this mineralisation. Additionally, the Company has recently expanded the Ianna project area by acquiring adjoining ground, providing further potential for growth through new discoveries on previously undrilled targets.

I thank our shareholders for their continued support throughout the year, and their support in the recent Rights Issue completed subsequent to the reporting period. I also welcome our more recent shareholders to the register. The team at Alicanto Minerals Limited has worked hard and diligently these past twelve months and I look forward to the coming year with enthusiasm. It promises to be an exciting and busy year for the Company as the Guyana Gold Projects continue to be advanced through focussed exploration."