Annual Mineral Resources Statement as at 30 June 2016

Review of Material Changes

There has been no change to the mineral resources at Wingina Well, Mount Berghaus, Amanda, Discovery and Orchard Tank between June 2015 and June 2016.

No material activity took place at Wingina Well, Mount Berghaus, Amanda, Discovery and Orchard Tank during the 2015-2016 financial year.

Governance and Internal Control

The Company’s procedures for the sample techniques and sample preparation are regularly reviewed and audited by independent experts.

Assays are performed by independent internationally accredited laboratories with a QAQC program showing acceptable levels of accuracy and precision.

The exploration assay results database is maintained and appropriate backed-up internally.

The mineral resource estimates at Wingina Well, Mount Berghaus and Amanda have been undertaken independently by Payne Geological Services Pty Ltd.

The mineral resource estimates at Discovery and Orchard Tank have been undertaken independently by Ravensgate Mining Industry Consultants.

Competent Person Statement

The information in this Annual Mineral Resources Statement is based on, and fairly represents information and supporting documentation prepared by Mr Andy Beckwith, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Beckwith is a the Executive Technical Director of the Company. Mr Beckwith has sufficient experience in that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Beckwith has approved the Statement as a whole and consents to its inclusion in the Annual Report in the form and context in which it appears.