Copper Hill Drilling Update GCHD473 & GCHD474

Golden Cross Resources Ltd, through its wholly owned subsidiaries Golden Cross Operations Pty Ltd (GCO) and Challenger Gold Li

ASX Announcement

25 November 2014

GOLDEN CROSS RESOURCES LTD

ABN 65 063 075 178

22 Edgeworth David Ave

Hornsby NSW 2077

Phone (02) 9472 3500

Fax (02) 9482 8488

Copper Hill Drilling Update - GCHD473 & GCHD474

 GCHD473, to test extensions to the high-grade drill hole GCHR107 on section 5450N, was completed at 507 metres. All assays have now been received.

 Deep extension: 58 metres at 0.64% copper and 0.68g/t gold from 386 metres

 GCHD474, on section 5300N, was completed on November 6 at a depth of

351 metres. All core has been sawn and half-core samples sent for assay.

GCHD473 has returned average to high grade copper and gold values beneath the substantial intersections in GCHR107 (e.g.107 metres @ 0.61% copper and 1.25g/t gold).
HQ core sample assays have been returned from the ALS laboratory in Orange. Intervals, using a range of copper cut-off grades, are set out below. Assay results are tabulated in full in this report.

0.4% copper cut-off grade:

From (m)	To (m)	Interval (m)	Copper %	Gold g/t (ppm)
60	68	8	0.71	0.95
386	444	58	0.64	0.68

0.3% copper cut-off grade:

From (m)	To (m)	Interval (m)	Copper %	Gold g/t (ppm)
56	68	12	0.58	0.73
156	168	12	0.39	0.29
294	328	34	0.34	0.52
378	446	68	0.59	0.62

0.2% copper cut-off grade:

From (m)	To (m)	Interval (m)	Copper %	Gold g/t (ppm)
24	68	44	0.32	0.30
144	168	24	0.33	0.25
244	262	18	0.29	0.29
292	350	58	0.29	0.37
378	450	72	0.57	0.60

Notwithstanding the extensive zone (almost 200 metres) of sheeted veining (quartz magnetite and B-veins) in 'crowded' tonalite porphyry the results indicate generally lower grades at depth vertically beneath GCHR107 but one zone, carrying 58m @ 0.64% copper and 0.68g/t gold from
386 metres downhole, indicates potential for a new, deep extension to current resources.

Cross-section 5450N showing previous drill hole traces with mineralised intervals and recent hole GCHD473 showing intervals and grades on a background of geology and 0.4% and 0.2% copper cut-off grade resource blocks

from the 2011 Copper Hill Resource Estimate.

The current program has further tested mineralised zones defined by historic drill-holes and has refined the Copper Hill geology model. The updated geology model will provide more precisely defined constraints for December's mineral resource estimation and has supported compliance with the JORC Code, 2012 Edition.

Once assays are received for GCHD474 an updated resource estimate for Copper Hill will be made at a range of cut-off grades. Preliminary financial modelling will then be run using various mine and mill throughput rates to determine potential viability.

GCHD473 Assay Results

Showing sample weights, QA/QC samples and intercepts, using a range of Cu cut-off grades

GCHD473	Au -AA26	ME-MS61	Cu % Cu toff	INTERCEPT	-MS61	-MS61	E-MS61	MS61
Hole ID	From (m)	To (m)	Lgth	Sample ID	Wt (kg)	Bit Size	Sample type	QA_QC	Comments	4m Comp	Au ppm	Cu ppm	0.2 % 8m	0.3 % 4m	0.4 % 4m	Cu%	Au g/t	Ag ppm	Mo ppm	Re ppm	S%
GCHD473	0	1	1	A34472	4.5	PQ	HCORE	U	Rubbl e	C32501	0.05	1070	0.4	16	0.003	0.03
GCHD473	1	2	1	A34473	5.0	PQ	HCORE	U	Rubbl e	C32501
GCHD473	2	3	1	A34474	4.7	PQ	HCORE	U	Rubbl e	C32501
GCHD473	3	4	1	A34475	5.4	PQ	HCORE	U	Rubbl e	C32501
GCHD473	4	5	1	A34476	5.4	PQ	HCORE	U	Rubbl e	C32502	0.07	1550	0.7	26	0.002	0.03
GCHD473	5	6	1	A34477	6.0	PQ	HCORE	U	Rubbl e	C32502
GCHD473	6	7	1	A34478	5.1	PQ	HCORE	U	Rubbl e	C32502
GCHD473	7	8	1	A34479	5.8	PQ	HCORE	U	Rubbl e	C32502
GCHD473	8	9	1	A34480	5.3	PQ	HCORE	U	Rubbl e	C32503	0.07	1340	0.6	20	0.036	0.90
GCHD473	9	10	1	A34481	5.3	PQ	HCORE	U	Rubbl e	C32503
GCHD473	10	11	1	A34482	5.5	PQ	HCORE	U	Cut Core / Rubbl e	C32503
GCHD473	11	12	1	A34483	6.2	PQ	HCORE	U	Cut Core / Rubbl e	C32503
GCHD473	12	13	1	A34484	7.1	PQ	HCORE	U	Cut Core	C32504	0.13	1400	0.6	21	0.121	0.92
GCHD473	13	14	1	A34485	7.4	PQ	HCORE	U	Cut Core	C32504
GCHD473	14	15	1	A34486	6.2	PQ	HCORE	U	Cut Core	C32504
GCHD473	15	16	1	A34487	6.7	PQ	HCORE	U	Cut Core	C32504
GCHD473	16	17	1	A34488	7.1	PQ	HCORE	U	Cut Core	C32505	0.06	952	0.6	13	0.107	1.53
GCHD473	17	18	1	A34489	6.3	PQ	HCORE	U	Cut Core	C32505
GCHD473	18	19	1	A34490	6.7	PQ	HCORE	U	Cut Core	C32505
GCHD473	19	20	1	A34491	7.1	PQ	HCORE	U	Cut Core	C32505
GCHD473	C32506	PULP	STD	CHLG_01	0.04 436 0.4 11 0.024 2.17
GCHD473	20	21	1	A34492	6.6	PQ	HCORE	U	Cut Core	C32507	0.07	1400	0.9	5	0.030	1.63
GCHD473	21	22	1	A34493	5.6	PQ	HCORE	U	Cut Core	C32507
GCHD473	22	23	1	A34494	6.1	PQ	HCORE	U	Cut Core	C32507
GCHD473	23	24	1	A34495	7.5	PQ	HCORE	U	Cut Core	C32507
GCHD473	24	25	1	A34496	6.9	PQ	HCORE	U	Cut Core	C32508 u	0.08	2240	1.4	5	0.033	1.34
GCHD473	25	26	1	A34497	6.5	PQ	HCORE	U	Cut Core	C32508 u
GCHD473	26	27	1	A34498	6.2	PQ	HCORE	U	Cut Core	C32508 u
GCHD473	27	28	1	A34499	4.8	PQ	HCORE	U	Core l os s 20cm C	C32508 u
GCHD473	28	29	1	A34500	4.7	PQ	HCORE	U	Core l os s 20cm Cu	C32509 u	0.11	3130	1.8	4	0.028	1.65
GCHD473	29	30	1	A34501	5.7	PQ	HCORE	U	PQ 30.2m -HQ 32m	C32509 u
GCHD473	30	32	2	A34502	7.9	HQ	HCORE	U	Core l os s 10cm C	C32509 u
GCHD473	32	34	2	A34503	6.4	HQ	HCORE	U	Cut Core	C32510	0.06	1740	0.7	12	0.127	0.66
GCHD473	34	36	2	A34504	6.8	HQ	HCORE	U	Cut Core	C32510
GCHD473	36	38	2	A34505	6.6	HQ	HCORE	U	Cut Core	C32511	0.12	1620	1.1	7	0.054	1.93
GCHD473	38	40	2	A34506	6.6	HQ	HCORE	U	Cut Core	C32511
GCHD473	40	42	2	A34507	6.4	HQ	HCORE	U	Cut Core	C32512	0.16	2780	1.2	7	0.065	1.38
GCHD473	42	44	2	A34508	6.8	HQ	HCORE	U	Cut Core	C32512
GCHD473	44	46	2	A34509	6.4	HQ	HCORE	U	Cut Core	C32513	0.13	2650	1.3	6	0.045	1.70
GCHD473	46	48	2	A34510	6.7	HQ	HCORE	U	Cut Core	C32513
GCHD473	48	50	2	A34511	6.2	HQ	HCORE	U	Cut Core	C32514	0.12	2190	1.2	5	0.027	1.02
GCHD473	50	52	2	A34512	6.6	HQ	HCORE	U	Cut Core	C32514
GCHD473	52	54	2	A34513	6.6	HQ	HCORE	U	Cut Core	C32515	0.15	2790	1.2	4	0.021	0.81
GCHD473	54	56	2	A34514	5.7	HQ	HCORE	U	Cut Core	C32515
GCHD473	56	58	2	A34515	5.4	HQ	HCORE	U	Cut Core	C32516	0.28	3280	1.3	4	0.015	2.45
GCHD473	58	60	2	A34516	8.8	HQ	HCORE	U	Cut Core	C32516
GCHD473	60	62	2	A34517	7.1	HQ	HCORE	U	Cut Core	C32517	0.98	9460	4.3	4	0.013	5.24
GCHD473	62	64	2	A34518	7.6	HQ	HCORE	U	Cut Core	C32517
GCHD473	64	66	2	A34519	7.2	HQ	HCORE	U	Cut Core	C32518	0.93	4810	8m @ 0.71% 0.95	1.6	6	0.046	3.01
GCHD473	66	68	2	A34520	7.6	HQ	HCORE	U	Cut Core	C32518	12m @ 0.58% 0.73
GCHD473	68	70	2	A34521	6.9	HQ	HCORE	U	Cut Core	C32519	0.03	147	44m @ 0.32% 0.28	0.2	8	0.044	3.77
GCHD473	70	72	2	A34522	7.2	HQ	HCORE	U	Cut Core	C32519
GCHD473	72	74	2	A34523	6.6	HQ	HCORE	U	Cut Core	C32520	0.03	109	0.3	13	0.058	3.43
GCHD473	74	76	2	A34524	6.0	HQ	HCORE	U	Cut Core / Rubbl e	C32520
GCHD473	74	76	DUP	C32520R 0.03 92 0.3 12 0.064 3.42
GCHD473	76	78	2	A34525	6.4	HQ	HCORE	U	Cut Core / Rubbl e	C32521	0.02	215	0.2	23	0.216	3.89
GCHD473	78	80	2	A34526	7.1	HQ	HCORE	U	Cut Core / Rubbl e	C32521
GCHD473	80	82	2	A34527	7.0	HQ	HCORE	U	Cut Core / Rubbl e	C32522	0.06	86	0.4	7	0.027	3.64
GCHD473	82	84	2	A34528	6.6	HQ	HCORE	U	Cut Core / Rubbl e
GCHD473	84	86	2	A34529	6.1	HQ	HCORE	U	Cut Core / Rubbl e	C32523	0.04	177	0.4	6	0.029	3.22
GCHD473	86	88	2	A34530	6.6	HQ	HCORE	U	Cut Core / Rubbl e
GCHD473	88	90	2	A34531	7.3	HQ	HCORE	U	Cut Core / Rubbl e	C32524	0.01	160	0.2	3	0.013	2.70
GCHD473	90	92	2	A34532	7.0	HQ	HCORE	U	Cut Core / Rubbl e	C32524
GCHD473	92	94	2	A34533	6.6	HQ	HCORE	U	Cut Core	C32525	0.01	290	0.2	5	0.035	2.37
GCHD473	94	96	2	A34534	7.4	HQ	HCORE	U	Cut Core	C32525
GCHD473	96	98	2	A34535	6.8	HQ	HCORE	U	Cut Core / Rubbl e	C32526	0.04	878	0.4	3	0.017	2.07
GCHD473	98	100	2	A34536	6.7	HQ	HCORE	U	Cut Core / Rubbl e	C32526
GCHD473	100	102	2	A34537	6.9	HQ	HCORE	U	Cut Core	C32527	0.03	625	0.4	3	0.019	1.23
GCHD473	102	104	2	A34538	6.7	HQ	HCORE	U	Cut Core	C32527
GCHD473	104	106	2	A34539	6.7	HQ	HCORE	U	Cut Core	C32528	0.07	332	0.5	3	0.033	1.82
GCHD473	106	108	2	A34540	7.5	HQ	HCORE	U	Cut Core	C32528
GCHD473	108	110	2	A34541	6.6	HQ	HCORE	U	Cut Core	C32529	0.16	482	0.5	3	0.022	1.26
GCHD473	110	112	2	A34542	6.9	HQ	HCORE	U	Cut Core	C32529

GCHD473	Au-AA26	ME-MS61	Cu% Cutoff	INTERCEPT	-MS61	E-MS61	E-MS61	-MS61
Hole ID	From (m)	To (m)	Lgth	Sample ID	Wt (kg)	Bit Size	Sample type	QA_QC	Comments	4m Comp	Au ppm	Cu ppm	0.2 % 8m	0.3 % 4m	0.4 % 4m	Cu%	Au g/t	Ag ppm	Mo ppm	Re ppm	S%
GCHD473	112	114	2	A34543	6.8	HQ	HCORE	U	Cut Core	C32530	0.03	48	0.1	0		0.39
GCHD473	114	116	2	A34544	7.2	HQ	HCORE	U	Cut Core	C32530
GCHD473	116	118	2	A34545	7.3	HQ	HCORE	U	Cut Core	C32531	0.16	43	0.1	0		0.38
GCHD473	118	120	2	A34546	6.8	HQ	HCORE	U	Cut Core END Batc	C32531
GCHD473	C32532	PULP	STD	CHMG_01	C32532	0.29	2420	1.4 7 0.055 2.46
GCHD473	120	122	2	A34547	7.2	HQ	HCORE	U	Cut Core .Start B2	C32533	0.02	47	0.1	0		0.03
GCHD473	122	124	2	A34548	6.8	HQ	HCORE	U	Cut Core	C32533
GCHD473	124	126	2	A34549	6.7	HQ	HCORE	U	Cut Core	C32534	0.05	127	0.2	1	0.005	0.72
GCHD473	126	128	2	A34550	7.0	HQ	HCORE	U	Cut Core	C32534
GCHD473	128	130	2	A34551	6.9	HQ	HCORE	U	Cut Core	C32535	0.05	194	0.2	2	0.007	1.33
GCHD473	130	132	2	A34552	7.2	HQ	HCORE	U	Cut Core	C32535
GCHD473	132	134	2	A34553	6.4	HQ	HCORE	U	Cut Core	C32536	0.07	349	0.3	7	0.048	1.80
GCHD473	134	136	2	A34554	7.4	HQ	HCORE	U	Cut Core	C32536
GCHD473	136	138	2	A34555	6.9	HQ	HCORE	U	Cut Core	C32537	0.06	793	0.4	24	0.106	1.46
GCHD473	138	140	2	A34556	7.2	HQ	HCORE	U	Cut Core	C32537
GCHD473	140	142	2	A34557	7.0	HQ	HCORE	U	Cut Core	C32538	0.10	1460	0.8	11	0.058	2.06
GCHD473	142	144	2	A34558	7.3	HQ	HCORE	U	Cut Core	C32538
GCHD473	144	146	2	A34559	7.3	HQ	HCORE	U	Cut Core	C32539	0.14	2410	1.0	19	0.124	1.32
GCHD473	146	148	2	A34560	6.7	HQ	HCORE	U	Cut Core	C32539
GCHD473	148	150	2	A34561	5.6	HQ	HCORE	U	Cut Core 45cm cor	C32540	0.29	2930	1.0	32	0.145	1.79
GCHD473	150	152	2	A34562	5.2	HQ	HCORE	U	Cut Core	C32540
GCHD473	152	154	2	A34563	7.2	HQ	HCORE	U	Cut Core	C32541	0.20	2590	1.1	20	0.106	2.33
GCHD473	154	156	2	A34564	7.2	HQ	HCORE	U	Cut Core	C32541
GCHD473	156	158	2	A34565	6.8	HQ	HCORE	U	Cut Core	C32542	0.24	3010	1.7	4	0.024	2.29
GCHD473	158	160	2	A34566	6.9	HQ	HCORE	U	Cut Core	C32542
GCHD473	160	162	2	A34567	7.6	HQ	HCORE	U	Cut Core	C32543	0.41	5660	1.9	6	0.033	1.53
GCHD473	162	164	2	A34568	6.1	HQ	HCORE	U	Core/Rubbl e	C32543
GCHD473	164	166	2	A34569	6.5	HQ	HCORE	U	Cut Core	C32544	0.23	3200	1.6	13	0.089	2.27
GCHD473	166	168	2	A34570	6.9	HQ	HCORE	U	Cut Core	C32544	12m @ 0.39% 0.29
GCHD473	168	170	2	A34571	6.8	HQ	HCORE	U	Cut Core	C32545	0.68	1620	24m @ 0.33% 0.25	1.4	5	0.032	2.11
GCHD473	170	172	2	A34572	7.3	HQ	HCORE	U	Cut Core	C32545
GCHD473	172	174	2	A34573	6.4	HQ	HCORE	U	Cut Core	C32546	0.11	567	0.4	4	0.015	3.43
GCHD473	174	176	2	A34574	6.6	HQ	HCORE	U	Cut Core	C32546
GCHD473	176	178	2	A34575	7.6	HQ	HCORE	U	Cut Core	C32547	0.13	961	0.9	3	0.015	2.26
GCHD473	178	180	2	A34576	7.5	HQ	HCORE	U	Cut Core	C32547
GCHD473	180	182	2	A34577	7.2	HQ	HCORE	U	Cut Core	C32548	0.19	1980	1.4	3	0.016	3.34
GCHD473	182	184	2	A34578	8.2	HQ	HCORE	U	Cut Core	C32548
GCHD473	184	186	2	A34579	8.3	HQ	HCORE	U	Cut Core	C32549	0.23	1210	0.8	3	0.012	1.71
GCHD473	186	188	2	A34580	7.2	HQ	HCORE	U	Cut Core	C32549
GCHD473	188	190	2	A34581	8.0	HQ	HCORE	U	Cut Core	C32550	0.13	805	0.5	3	0.014	1.46
GCHD473	190	192	2	A34582	7.2	HQ	HCORE	U	Cut Core	C32550
GCHD473	192	194	2	A34583	7.5	HQ	HCORE	U	Cut Core	C32551	0.15	1240	0.7	3	0.014	1.44
GCHD473	194	196	2	A34584	6.9	HQ	HCORE	U	Cut Core	C32551
GCHD473	DUP	C32551R	0.14	1320	0.7 3 0.016 1.45
GCHD473	C32552	PULP	STD	CHMG_01	C32552	0.31	2400	1.4 7 0.056 2.45
GCHD473	196	198	2	A34585	7.0	HQ	HCORE	U	Cut Core	C32553	0.06	583	0.4	3	0.015	1.24
GCHD473	198	200	2	A34586	7.6	HQ	HCORE	U	Cut Core	C32553
GCHD473	200	202	2	A34587	6.8	HQ	HCORE	U	Cut Core	C32554	0.09	2060	0.7	3	0.015	1.77
GCHD473	202	204	2	A34588	7.2	HQ	HCORE	U	Cut Core	C32554
GCHD473	204	206	2	A34589	7.5	HQ	HCORE	U	Cut Core	C32555	0.07	843	0.4	7	0.019	2.13
GCHD473	206	208	2	A34590	7.8	HQ	HCORE	U	Cut Core	C32555
GCHD473	208	210	2	A34591	7.0	HQ	HCORE	U	Cut Core	C32556	0.07	446	0.3	5	0.013	2.47
GCHD473	210	212	2	A34592	7.4	HQ	HCORE	U	Cut Core	C32556
GCHD473	212	214	2	A34593	7.0	HQ	HCORE	U	Cut Core	C32557	0.04	432	0.2	2	0.006	1.65
GCHD473	214	216	2	A34594	7.1	HQ	HCORE	U	Cut Core	C32557
GCHD473	216	218	2	A34595	7.1	HQ	HCORE	U	Cut Core	C32558	0.04	697	0.4	2	0.008	2.87
GCHD473	218	220	2	A34596	7.2	HQ	HCORE	U	Cut Core	C32558
GCHD473	220	222	2	A34597	7.4	HQ	HCORE	U	Cut Core	C32559	0.08	1540	0.9	2	0.012	1.97
GCHD473	222	224	2	A34598	6.6	HQ	HCORE	U	Cut Core	C32559
GCHD473	224	226	2	A34599	7.6	HQ	HCORE	U	Cut Core	C32560	0.05	1620	0.8	4	0.018	0.81
GCHD473	226	228	2	A34600	7.0	HQ	HCORE	U	Cut Core	C32560
GCHD473	228	230	2	A34601	7.1	HQ	HCORE	U	Cut Core	C32561	0.04	1250	0.7	3	0.018	1.68
GCHD473	230	232	2	A34602	7.0	HQ	HCORE	U	Cut Core	C32561
GCHD473	232	234	2	A34603	7.5	HQ	HCORE	U	Cut Core	C32562	0.08	1120	0.8	2	0.012	3.55
GCHD473	234	236	2	A34604	7.4	HQ	HCORE	U	Cut Core	C32562
GCHD473	236	238	2	A34605	7.0	HQ	HCORE	U	Cut Core	C32563	0.05	800	0.6	2	0.009	3.02
GCHD473	238	240	2	A34606	7.5	HQ	HCORE	U	Cut Core End B2	C32563

GCHD473	240	242	2	A34607	7.6	HQ	HCORE	U	Cut Core	0.08	1265	0.76	2	0.009	2.46
GCHD473	242	244	2	A34608	6.6	HQ	HCORE	U	Cut Core	0.14	1615	1.41	3	0.007	2.80
GCHD473	244	246	2	A34609	7.0	HQ	HCORE	U	Cut Core	0.12	2000	0.92	2	0.008	2.16
GCHD473	246	248	2	A34610	7.2	HQ	HCORE	U	Cut Core	0.12	2400	0.86	2	0.006	2.79
GCHD473	248	250	2	A34611	6.8	HQ	HCORE	U	Cut Core	0.41	4840	1.71	2	0.006	2.20
GCHD473	250	252	2	A34612	6.2	HQ	HCORE	U	Cut Core	0.38	3220	1.33	2	0.006	1.35
GCHD473	252	254	2	A34613	7.0	HQ	HCORE	U	Cut Core	0.45	4210	1.64	3	0.014	3.20
GCHD473	254	256	2	A34614	6.8	HQ	HCORE	U	Cut Core	0.32	2240	0.86	2	0.005	2.77
GCHD473	256	258	2	A34615	6.4	HQ	HCORE	U	Cut Core	0.25	2370	1.01	2	0.005	2.95
GCHD473	258	260	2	A34616	6.7	HQ	HCORE	U	Cut Core	0.25	2460	0.86	2	0.004	2.05
GCHD473	260	262	2	A34617	7.4	HQ	HCORE	U	Cut Core	0.35	2560	18m @ 0.29%	0.29	0.84	2	0.004	2.46
GCHD473	262	264	2	A34618	6.7	HQ	HCORE	U	Cut Core	0.18	1635	0.64	2	0.005	1.84
GCHD473	264	266	2	A34619	7.3	HQ	HCORE	U	Cut Core / rubbl e	0.07	858	0.54	2	0.004	1.17
GCHD473	266	268	2	A34620	7.5	HQ	HCORE	U	cut core / rubbl e	0.12	1785	0.80	2	0.003	1.47
GCHD473	266	268	2	A34620R	CRUSH	DUP	0.13 1750 0.77 2 0.003 1.48
GCHD473	268	270	2	A34621	6.9	HQ	HCORE	U	Cut Core	0.14	1915	0.78	2	0.003	3.43
GCHD473	A34622	PULP	STD	CHMG_01	0.32 2540 1.43 8 0.055 2.64
GCHD473	270	272	2	A34623	6.8	HQ	HCORE	U	Cut Core	0.09	1550	0.55	2	0.003	4.78
GCHD473	272	274	2	A34624	7.6	HQ	HCORE	U	Cut Core	0.26	3470	1.13	7	0.012	3.26
GCHD473	274	276	2	A34625	7.1	HQ	HCORE	U	Cut Core	0.14	1305	0.82	2	0.006	3.00
GCHD473	276	278	2	A34626	6.8	HQ	HCORE	U	Cut Core	0.14	897	0.63	3	0.005	3.21
GCHD473	278	280	2	A34627	7.0	HQ	HCORE	U	Cut Core	0.13	998	0.66	2	0.007	3.90
GCHD473	280	282	2	A34628	7.2	HQ	HCORE	U	Cut Core	0.09	976	0.44	1	0.003	3.79
GCHD473	282	284	2	A34629	7.0	HQ	HCORE	U	Cut Core	0.14	1960	0.79	3	0.007	3.38
GCHD473	284	286	2	A34630	6.7	HQ	HCORE	U	Cut Core	0.14	1280	0.70	3	0.008	3.46
GCHD473	286	288	2	A34631	7.0	HQ	HCORE	U	Cut Core	0.44	3470	3.03	2	0.006	5.58
GCHD473	288	290	2	A34632	7.2	HQ	HCORE	U	Cut Core	0.19	1390	1.16	2	0.01	2.51
GCHD473	290	292	2	A34633	7.2	HQ	HCORE	U	Cut Core	0.16	1740	1.07	2	0.006	2.76
GCHD473	292	294	2	A34634	6.7	HQ	HCORE	U	Cut Core	0.28	2450	1.39	2	0.009	2.76
GCHD473	294	296	2	A34635	6.8	HQ	HCORE	U	Cut Core	0.27	3550	1.73	3	0.01	2.18
GCHD473	296	298	2	A34636	6.8	HQ	HCORE	U	Cut Core	0.39	2510	2.32	3	0.01	2.94
GCHD473	298	300	2	A34637	6.0	HQ	HCORE	U	Cut Core	0.51	2040	1.29	2	0.011	2.07
GCHD473	300	302	2	A34638	6.8	HQ	HCORE	U	Cut Core	0.7	4040	2.33	6	0.02	3.46
GCHD473	302	304	2	A34639	6.8	HQ	HCORE	U	Cut Core	0.68	3560	2.29	2	0.007	2.34
GCHD473	304	306	2	A34640	6.8	HQ	HCORE	U	Cut Core	0.63	2110	1.50	1	0.006	1.59
GCHD473	304	306	A34640R	CRUSH	DUP	0.71	2320	1.63 2 0.008 1.64
GCHD473	306	308	2	A34641	6.4	HQ	HCORE	U	Cut Core / rubbl e	0.26	2300	1.71	3	0.011	2.28
GCHD473	308	310	2	A34642	6.4	HQ	HCORE	U	Cut Core / rubbl e	1.79	12200	5.10	43	0.036	3.75
GCHD473	310	312	2	A34643	7.4	HQ	HCORE	U	Cut Core / rubbl e	0.41	2360	1.39	2	0.005	4.35
GCHD473	312	314	2	A34644	7.2	HQ	HCORE	U	rubbl e / cut core	0.23	1170	0.64	2	0.006	1.46
GCHD473	314	316	2	A34645	6.5	HQ	HCORE	U	rubbl e / cut core	0.31	1770	0.57	1	0.004	1.14
GCHD473	316	318	2	A34646	7.4	HQ	HCORE	U	rubbl e / cut core	0.27	2930	0.76	1	0.007	1.35
GCHD473	318	320	2	A34647	6.2	HQ	HCORE	U	rubbl e / cut core	0.43	3580	1.37	2	0.007	1.18
GCHD473	320	322	2	A34648	6.4	HQ	HCORE	U	rubbl e / cut core	0.46	3210	0.95	1	0.005	1.04
GCHD473	322	324	2	A34649	6.6	HQ	HCORE	U	rubbl e / cut core	0.86	6760	1.84	2	0.006	3.24
GCHD473	324	326	2	A34650	.6.7	HQ	HCORE	U	rubbl e / cut core	0.21	1620	0.64	1	0.005	1.01
GCHD473	326	328	2	A34651	6.6	HQ	HCORE	U	rubbl e / cut core	0.51	3070	34m @ 0.34%	0.52	1.15	1	0.006	0.77
GCHD473	328	330	2	A34652	6.5	HQ	HCORE	U	rubbl e / cut core	0.3	2620	1.11	1	0.004	1.94
GCHD473	330	332	2	A34653	7.1	HQ	HCORE	U	rubbl e / cut core	0.26	2380	1.39	2	0.009	2.43
GCHD473	332	334	2	A34654	6.7	HQ	HCORE	U	rubbl e / cut core	0.14	2030	0.87	2	0.011	2.57
GCHD473	A34655	3.0	PULP	BLANK	47.2 0.08 2 0.03
GCHD473	334	336	2	A34656	7.2	HQ	HCORE	U	Cut Core / rubbl e	0.13	1960	0.63	2	0.012	1.18
GCHD473	336	338	2	A34657	7.0	HQ	HCORE	U	Cut Core / rubbl e	0.07	1480	0.52	4	0.02	1.48
GCHD473	338	340	2	A34658	6.4	HQ	HCORE	U	Cut Core / rubbl e	0.11	2540	1.19	3	0.009	1.64
GCHD473	340	342	2	A34659	6.7	HQ	HCORE	U	Cut Core / rubbl e	0.23	3630	1.69	9	0.022	1.87
GCHD473	342	344	2	A34660	6.5	HQ	HCORE	U	Cut Core / rubbl e	0.08	1840	0.71	5	0.037	1.37
GCHD473	342	344	A34660R	CRUSH	DUP	0.08 1775 0.64 5 0.034 1.28
GCHD473	344	346	2	A34661	6.6	HQ	HCORE	U	Cut Core / rubbl e	0.13	2260	1.01	8	0.055	2.85
GCHD473	346	348	2	A34662	6.8	HQ	HCORE	U	Cut Core / rubbl e	0.12	2340	1.00	14	0.161	3.00
GCHD473	348	350	2	A34663	6.6	HQ	HCORE	U	Cut Core / rubbl e	0.1	2160	58m @ 0.29%	0.37	0.99	6	0.041	1.83
GCHD473	350	352	2	A34664	6.3	HQ	HCORE	U	Cut Core / rubbl e	0.09	1250	0.77	4	0.023	1.05
GCHD473	352	354	2	A34665	6.8	HQ	HCORE	U	Cut Core / rubbl e	0.06	1255	0.48	3	0.018	1.01
GCHD473	354	356	2	A34666	6.2	HQ	HCORE	U	Cut Core / rubbl e	0.05	1000	0.47	4	0.019	1.31
GCHD473	356	358	2	A34667	6.8	HQ	HCORE	U	Cut Core / rubbl e	0.09	1845	0.74	9	0.046	2.23
GCHD473	358	360	2	A34668	6.3	HQ	HCORE	U	Cut Core / rubbl e	0.05	1240	0.42	7	0.033	0.96
GCHD473	360	362	2	A34669	7.3	HQ	HCORE	U	Cut Core / rubbl e	0.08	2040	0.75	3	0.017	1.00
GCHD473	362	364	2	A34670	7.1	HQ	HCORE	U	Cut Core / rubbl e	0.15	2170	1.65	4	0.015	3.37
GCHD473	364	366	2	A34671	7.1	HQ	HCORE	U	Cut Core / rubbl e	0.09	1920	0.98	6	0.026	2.73
GCHD473	366	368	2	A34672	7.1	HQ	HCORE	U	Cut Core / rubbl e	0.05	1075	0.45	3	0.012	0.39
GCHD473	368	370	2	A34673	7.1	HQ	HCORE	U	Cut Core / rubbl e	0.1	1540	0.77	8	0.042	1.37
GCHD473	370	372	2	A34674	6.6	HQ	HCORE	U	Cut Core / rubbl e	0.08	1255	0.51	4	0.013	0.88
GCHD473	372	374	2	A34675	6.8	HQ	HCORE	U	Cut Core / rubbl e	0.08	1400	0.71	4	0.011	1.10
GCHD473	374	376	2	A34676	6.5	HQ	HCORE	U	Cut Core / rubbl e	0.09	3100	0.84	4	0.014	1.43

GCHD473	376	378	2	A34677	7.0	HQ	HCORE	U	Cut Core / rubbl e	0.08	1680	0.49	5	0.016	0.83
GCHD473	378	380	2	A34678	5.9	HQ	HCORE	U	Cut Core / rubbl e	0.15	3020	0.62	2	0.005	0.87
GCHD473	380	382	2	A34679	7.5	HQ	HCORE	U	Cut Core / rubbl e	0.24	3050	0.98	4	0.011	1.11
GCHD473	382	384	2	A34680	6.5	HQ	HCORE	U	Cut Core / rubbl e	0.16	2250	0.68	4	0.014	1.39
GCHD473	382	384	A34680 R	CRUSH	DUP	0.15 2310 0.68 4 0.013 1.42
GCHD473	384	386	2	A34681	6.8	HQ	HCORE	U	Cut Core / rubbl e END BATC	0.18	3370	1.48	18	0.07	2.03
GCHD473	386	388	2	A34682	5.4	HQ	HCORE	U	Cut Core / rubbl e START BAT	0.22	4710	1.97	35	0.038	3.31
GCHD473	388	390	2	A34683	7.9	HQ	HCORE	U	rubbl e / cut core	0.27	4060	1.20	32	0.037	0.85
GCHD473	390	392	2	A34684	7.2	HQ	HCORE	U	Cut Core / rubbl e	0.21	4700	1.52	11	0.028	1.83
GCHD473	392	394	2	A34685	7.0	HQ	HCORE	U	Cut Core / rubbl e	0.17	3080	1.05	7	0.030	1.80
GCHD473	394	396	2	A34686	6.9	HQ	HCORE	U	Cut Core / rubbl e	0.29	4150	1.20	6	0.024	1.11
GCHD473	396	398	2	A34687	7.8	HQ	HCORE	U	Cut Core / rubbl e	0.81	4620	2.49	5	0.019	2.16
GCHD473	398	400	2	A34688	7.2	HQ	HCORE	U	Cut Core / rubbl e	0.40	5540	1.81	5	0.010	1.75
GCHD473	A34689	PULP	STD	CHHG_01	2.41 9210 3.65 2 0.008 1.51
GCHD473	400	402	2	A34690	7.1	HQ	HCORE	U	Cut Core	0.84	9190	2.47	13	0.023	2.04
GCHD473	402	404	2	A34691	7.5	HQ	HCORE	U	Cut Core	0.48	5360	3.20	2	0.005	1.81
GCHD473	404	406	2	A34692	7.8	HQ	HCORE	U	Cut Core	0.67	14300	9.03	7	0.008	4.71
GCHD473	406	408	2	A34693	6.8	HQ	HCORE	U	Cut Core	1.40	9630	3.51	6	0.008	1.58
GCHD473	408	410	2	A34694	7.7	HQ	HCORE	U	Cut Core	1.08	9230	2.90	4	0.006	1.57
GCHD473	410	412	2	A34695	6.9	HQ	HCORE	U	Cut Core / rubbl e	0.78	8000	2.74	4	0.006	1.56
GCHD473	412	414	2	A34696	6.8	HQ	HCORE	U	Cut Core / rubbl e	0.82	7790	3.17	2	0.007	2.11
GCHD473	414	416	2	A34697	7.5	HQ	HCORE	U	Cut Core / rubbl e	0.36	5510	3.03	7	0.018	2.30
GCHD473	416	418	2	A34698	7.6	HQ	HCORE	U	Cut Core / rubbl e	0.18	3060	1.59	10	0.025	2.06
GCHD473	418	420	2	A34699	7.2	HQ	HCORE	U	Cut Core / rubbl e	0.47	5370	1.66	12	0.037	2.15
GCHD473	420	422	2	A34700	7.2	HQ	HCORE	U	Cut Core / rubbl e	0.33	5010	1.67	6	0.020	1.06
GCHD473	422	424	2	A34701	7.6	HQ	HCORE	U	Cut Core / rubbl e	0.30	4510	1.23	7	0.016	1.26
GCHD473 422 424	A34701R	CRUSH DUP	0.27 4530 1.30 9 0.022 1.31
GCHD473	424	426	2	A34702	7.0	HQ	HCORE	U	Cut Core / rubbl e	0.58	9360	4.27	7	0.013	3.84
GCHD473	426	428	2	A34703	6.8	HQ	HCORE	U	Cut Core / rubbl e	1.02	6330	2.25	4	0.010	2.07
GCHD473	428	430	2	A34704	7.6	HQ	HCORE	U	Cut Core / rubbl e	0.41	5760	2.24	3	0.008	2.36
GCHD473	A34705	PULP	STD	CH_HG01	2.27 9350 3.72 2 0.010 1.55
GCHD473	430	432	2	A34706	7.2	HQ	HCORE	U	Cut Core / rubbl e	0.32	4140	2.38	7	0.012	4.33
GCHD473	432	434	2	A34707	7.0	HQ	HCORE	U	rubbl e / cut core	1.05	5890	2.27	1	0.004	1.97
GCHD473	434	436	2	A34708	7.1	HQ	HCORE	U	rubbl e / cut core	1.23	5860	2.03	2	0.005	2.04
GCHD473	436	438	2	A34709	5.6	HQ	HCORE	U	rubbl e / cut core 40cm Cor	2.07	8880	2.45	9	0.006	1.65
GCHD473	438	440	2	A34710	6.8	HQ	HCORE	U	rubbl e / cut core	0.82	8170	3.29	15	0.022	3.05
GCHD473	440	442	2	A34711	7.4	HQ	HCORE	U	rubbl e / cut core	1.10	7680	2.99	6	0.019	1.97
GCHD473	442	444	2	A34712	7.1	HQ	HCORE	U	rubbl e / cut core	1.09	6610	58m @ 0.64%	0.68	2.25	4	0.010	1.53
GCHD473	444	446	2	A34713	6.4	HQ	HCORE	U	rubbl e / cut core	0.64	3610	68m @ 0.59% 0.62	2.20	6	0.007	1.47
GCHD473	446	448	2	A34714	6.6	HQ	HCORE	U	rubbl e / cut core	0.21	1915	0.95	4	0.013	0.96
GCHD473	448	450	2	A34715	7.2	HQ	HCORE	U	rubbl e / cut core	0.53	2310	72m @ 0..57	0.60	1.16	3	0.008	1.96
GCHD473	450	452	2	A34716	6.9	HQ	HCORE	U	rubbl e / cut core	0.19	1285	0.73	8	0.024	1.90
GCHD473	452	454	2	A34717	6.1	HQ	HCORE	U	rubbl e / cut core	0.15	1530	0.71	6	0.021	0.94
GCHD473	454	456	2	A34718	6.5	HQ	HCORE	U	rubbl e / cut core	0.08	1220	0.68	6	0.012	1.76
GCHD473	456	458	2	A34719	6.0	HQ	HCORE	U	rubbl e / cut core	0.09	1990	1.06	5	0.003	1.85
GCHD473	458	460	2	A34720	5.0	HQ	HCORE	U	rubbl e / cut core 30cm Core	0.14	1190	0.65	12	0.023	1.85
GCHD473	A34721	PULP	STD	CH_MG01	0.32 2460 1.56 8 0.062 2.61
GCHD473	460	462	2	A34722	6.9	HQ	HCORE	U	rubbl e/ cut HQ	0.15	434	0.58	33	0.022	4.45
GCHD473 460 462	A34722R	CRUSH DUP	0.12 491 0.48 35 0.020 3.69
GCHD473	462	464	2	A34723	7.4	HQ	HCORE	U	Cut Core	0.07	1805	1.06	11	0.004	4.41
GCHD473	464	466	2	A34724	6.4	HQ	HCORE	U	Cut Core	0.03	923	0.43	3		3.65
GCHD473	466	468	2	A34725	6.4	HQ	HCORE	U	Cut Core	0.04	792	0.63	5		2.68
GCHD473	468	470	2	A34726	6.8	HQ	HCORE	U	Cut Core	0.06	2960	1.69	47	0.025	3.36
GCHD473	470	472	2	A34727	7.0	HQ	HCORE	U	Cut Core	0.07	1820	1.49	10	0.003	4.77
GCHD473	472	474	2	A34728	7.0	HQ	HCORE	U	Cut Core	0.05	1340	1.25	13	0.003	3.32
GCHD473	474	476	2	A34729	7.2	HQ	HCORE	U	Cut Core	0.04	751	0.52	2		2.45
GCHD473	476	478	2	A34730	7.0	HQ	HCORE	U	Cut Core	0.03	965	0.80	6	0.003	3.28
GCHD473	478	480	2	A34731	6.4	HQ	HCORE	U	Cut Core	0.17	707	1.24	3		5.39
GCHD473	480	482	2	A34732	7.0	HQ	HCORE	U	Cut Core	1.20	459	1.13	1		3.03
GCHD473	482	484	2	A34733	7.3	HQ	HCORE	U	Cut Core	0.12	531	1.17	5		4.30
GCHD473	484	486	2	A34734	7.2	HQ	HCORE	U	Cut Core	0.04	387	0.45	2		3.08
GCHD473	486	488	2	A34735	7.4	HQ	HCORE	U	Cut Core	0.03	546	0.47	2		3.05
GCHD473	488	490	2	A34736	7.3	HQ	HCORE	U	Cut Core	0.06	1490	0.87	6	0.002	2.71
GCHD473	490	492	2	A34737	6.8	HQ	HCORE	U	Cut Core	0.09	1250	1.32	6	0.003	3.23
GCHD473	492	494	2	A34738	7.0	HQ	HCORE	U	Cut Core	0.04	1110	0.76	14	0.008	3.71
GCHD473	494	496	2	A34739	7.0	HQ	HCORE	U	Cut Core	0.07	2250	0.93	26	0.025	3.44
GCHD473	496	498	2	A34740	7.1	HQ	HCORE	U	Cut Core	1.56	9500	2.92	7	0.010	3.00
GCHD473	498	500	2	A34741	6.9	HQ	HCORE	U	Cut Core	0.10	694	0.63	5	0.003	4.35
GCHD473 498 500	A34741R	CRUSH DUP 0.11 809 0.72 5 0.003 4.15
GCHD473	500	502	2	A34742	7.1	HQ	HCORE	U	Cut Core	0.03	193	0.33	6	0.003	2.96
GCHD473	502	504	2	A34743	6.8	HQ	HCORE	U	Cut Core	0.03	856	0.60	8		3.20
GCHD473	504	506	2	A34744	6.4	HQ	HCORE	U	Cut Core	0.02	728	0.42	6	0.002	3.53
GCHD473	506	507.6	1.6	A34745	5.0	HQ	HCORE	U	Cut Core EOH 507.6	0.04	923	0.74	13		3.94

JORC Compliance Statement

Set out below are Sections 1 and 2 of Table 1, JORC Code, 2012 Edition for GCHD473.

JORC Table 1

Section 1: Sampling Techniques and Data

Criteria

JORC Code explanation

Commentary

Sampling techniques

 Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools

appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

 Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

 Core drilling samples using PQ and HQ -sized core were cut using a Diamond saw and half core sent for assay. Broken sections (0 to 12

metres) were sampled using best efforts to maintain representative samples. Core losses were recorded and lost core zones given zero grade.

Drilling techniques

 Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter,

triple or standard tube, depth of Diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

 Core drilling (PQ & HQ triple tube.)

 Core orientation using Reflex ACE System

Drill sample recovery

 Method of recording and assessing core and chip sample recoveries and results assessed.

 Measures taken to maximise sample recovery and ensure representative nature of the samples.

 Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential

loss/gain of fine/coarse material.

 Core recoveries at Copper Hill are generally excellent. Interval 0 to

12metres: rubble then core/rubble combined. Is regarded as being

representative of the interval sampled.

 All samples are weighed

Logging

 Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate

Mineral Resource estimation, mining studies and metallurgical studies.

 Whether logging is qualitative or quantitative in nature. Core (or

costean, channel, etc) photography.

 The total length and percentage of the relevant intersections logged.

 Logging was carried out at a level commensurate with an advanced exploration/development program with lithologies, mineralisation,

alteration, faults, fractures and other geotechnical aspects noted sufficient for mining studies

 Logging was both qualitative and quantitative. Half core was retained

and all core photographed wet and dry.

 Hole GCHD473 was logged in detail over its full length.

Sub-

sampling techniques and sample preparation

 If core, whether cut or sawn and whether quarter, half or all core

taken.

 If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

 For all sample types, the nature, quality and appropriateness of the sample preparation technique.

 Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

 Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

 Whether sample sizes are appropriate to the grain size of the material being sampled.

 Core - sawn, half core sent for assay, half core retained

 All necessary steps taken to avoid contamination between samples.

 Nine duplicate and seven standards were inserted at irregular intervals (see table above).

 Pulps retained at lab.

Quality of assay data

and laboratory

tests

 The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is

considered partial or total.

 For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors

applied and their derivation, etc.

 Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

 All base metal assays tested after crushing to -80#, multiple acid digest and testing by ALS method ME-MS61 (48 elements, low detection

levels). All gold assays by 50g Fire Assay, ALS method Au-AA26

 Standard samples prepared by a qualified/registered laboratory (ALS)

 All samples tested by ALS Orange with internal checks, matching checks with other ALS labs and annual 'round robin' comparisons with competitor labs.

 Acceptable levels of accuracy and precision have been established

Verification

of sampling and assaying

 The verification of significant intersections by either independent or alternative company personnel.

 The use of twinned holes.

 Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

 Discuss any adjustment to assay data.

 No independent verification was carried out

 No twinned holes were drilled

 Drill logs are hard copy, assays stored as spreadsheets as reported by

ALS then matched to drill hole interval and stored digitally

 Weighted adjustments to assay data in lost core/rubble zones.

Location of

 Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other

 Drill hole collar locations by GPS and DGPS, down-hole Reflex Gyro

 MGA (GDA) grid system

Criteria

JORC Code explanation

Commentary

data points

locations used in Mineral Resource estimation.

 Specification of the grid system used.

 Quality and adequacy of topographic control.

 Topographic control adequate for exploration and Inferred, Indicated and Measured Resource calculations

Data spacing and

distribution

 Data spacing for reporting of Exploration Results.

 Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

 Whether sample compositing has been applied.

 Sampled at 1 and 2 metre intervals.

 4 metre composites to 30 metres, then 2 metre composites to EOH.

Orientation

of data in relation to geological structure

 Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known,

considering the deposit type.

 If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

 Copper Hill shows typical 'porphyry-style' mineralisation with

mineralisation disseminated and veined within porphyry intrusions and in veins and breccias within the adjacent country rock.

 GCHD473 was drilled to test zones between previous core and reverse circulation drill holes adjacent to a higher grade dilation zone within the overall Copper Hill igneous complex. The orientation of the mineralised zone is based on the previous drilling results and on structural mapping (Cyprus Minerals) and recent detailed core structural measurements.

Sample

security

 The measures taken to ensure sample security.

 No specific security measures were taken. The ALS Laboratory is 40

kilometres from Copper Hill and GCR's trained staff prepared and transported all samples.

Audits or

reviews

 The results of any audits or reviews of sampling techniques and data.

 No audits have been carried out specifically on the sampling techniques and data in this report but procedures followed the

techniques set out in a report to GCR by Dr Colin Brooks. Internal QA/QC reviews are made for each new drill hole to consider potential problems and an in-house procedure manual sets out all requirements.

Section 2: Reporting of Exploration Results

Criteria

JORC Code explanation

Commentary

Mineral tenement

and land tenure

status

 Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint

ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

 The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the

area.

 The Copper Hill - Molong Project is held 100% by GCR under EL6391 (33 units, 95 square kilometres).

 NSW Trade & Investment's Mineral Exploration Assessment

Department has granted renewal of 33 units (100%) to 10th March

2016.

Exploration

done by other parties

 Acknowledgment and appraisal of exploration by other parties.

 Since 1960's Anaconda, Amax Australia, Le Nickel, Homestake, Cyprus

Minerals, Newcrest and MIM Ltd.

Geology

 Deposit type, geological setting and style of mineralisation.

 Porphyry-style; tonalite-dacite intrusions into andesitic island-arc volcanics with copper-gold in disseminations, sheeted veins, stockworks and breccias

Drill hole

Information

 A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

o easting and northing of the drill hole collar

o elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

o dip and azimuth of the hole

o down hole length and interception depth

o hole length.

 If the exclusion of this information is justified on the basis that the

information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

Hole ID Easting Northing mRL Dip Azi(mag) Depth

GCHD473 674570 6341401 1,569 -65° 211° 507.6m

Data

aggregation methods

 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be

stated.

 Where aggregate intercepts incorporate short lengths of high

 0.2% copper cut-off grade with maximum internal dilution of 4m.

Minimum intercept length 4m. Calculations are weighted to reflect differing sample lengths where they occur.

Criteria

JORC Code explanation

Commentary

grade results and longer lengths of low grade results, the

procedure used for such aggregation should be stated and some

typical examples of such aggregations should be shown in detail.

 The assumptions used for any reporting of metal equivalent values should be clearly stated.

Relationship

between mineralisatio n widths and intercept lengths

 These relationships are particularly important in the reporting of

Exploration Results.

 If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

 If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known').

 Higher grade mineralised zones are sub-vertical to steeply east dipping in orientation within a broad envelope of weakly mineralised

intrusions with some barren dykes. In this situation discussion of the geometry does not have the same relevance as drilling veins or layers as in VMS deposits but with a 65 degree hole inclination the zone has been intersected at 60 degrees and the 'true width' will be approximately 65% of the reported width.

Diagrams

 Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of

drill hole collar locations and appropriate sectional views.

 Drill sections, plans and figures are included in the report

Balanced reporting

 Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades

and/or widths should be practiced to avoid misleading reporting of Exploration Results.



 All assay results are set out in the table in the report

Other

substantive exploration data

 Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations;

geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock

characteristics; potential deleterious or contaminating substances.

 Previously reported

Further work

 The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).

 Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

 This hole is the third in a planned program of 5000 metres of core drilling at Copper Hill. The next holes will test previously defined zones to support the 2012-JORC requirements for the next Resource

Estimate at Copper Hill.

Compliance Statement. The information in this report that relates to Exploration Results is based on information compiled by Mr. Kim Stanton-Cook, who is a member of the Australian Institute of Geoscientists, is a full-time employee of GCR, and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2004

Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr. Stanton-Cook consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

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