Sample No.

Easting

Northing

Au (g/t)

295104

762395

8538576

0.09

295105

762424

8538524

0.98

295106

762374

8538429

0.44

295107

762374

8538429

257

295108

762525

8538606

4.33

295109

762622

8538666

10.4

Details

Agreement

Agreement

Agreement

Agreement

Vendor

Glen Teece

NT Gold Pty Ltd

Wladimir Falko

CR & E Pty Ltd

Shares to be issued

2,571,429

4,428,571

4,428,571

2,571,429

Mining leases

MLN894 MLN893

ML30232

ML30232

ML29978

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.

• Aspects of the determination of mineralisation that are Material to the Public Report.

• In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

• Samples were collected from selected outcrops of quartz reef and old prospector pits.

• The samples are not considered as being highly representative.

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).

• Not Applicable - no drilling results reported.

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.

• Not Applicable - no drilling results reported.

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.

• Not Applicable - no drilling results reported.

Sub-sampling techniques and sample

• 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

• No sample preparation was completed by Monax on samples collected in the field. Samples were crushed and pulverised at the laboratory for analysis

Criteria

JORC Code explanation

Commentary

preparation

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.





The laboratory assay duplicates and standards as a standard procedure with all results within error of expected results.

The sample sizes are considered appropriate for reconnaissance sampling of quartz reefs.

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.







Rock chips were assayed in a commercial laboratory using standard methods for gold.

Gold was determined by fire assay with a nominal 40g charge analysed. Au is determined with AAS finish.

Laboratory QA/QC samples and sample duplicates were assayed by the laboratory with all results within expected error range. Samples were assayed at Bureau Veritas in Adelaide.

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.





Not Applicable - no drilling results reported. No assay results have been adjusted.

Location of data points

• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

• Specification of the grid system used.

• Quality and adequacy of topographic control.





Rock chip sample locations were collected using a hand held Garmin GPS (+/- 5m accuracy).

MGA94 (Zone 52)

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.





The data is not appropriate for use in estimating a Mineral Resource and is not intended for such use.

No sample compositing was undertaken.

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.



The samples were collected at selected sites and is is unknown if this results in biased or unbiased sampling.

Criteria

JORC Code explanation

Commentary

Sample

• The measures taken to ensure sample security.

• The samples were collected and transported to a Interstate transport

security

company for delivery to the Adelaide Laboratory by a Monax

representative. All appropriates measures were taken for sample

security.

Audits or reviews

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

• No audits or reviews have been completed.

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 areas sampled are located on Mining Leases held by private individuals. Monax has negotiated an Option to Purchase deal with each leaseholder the details of which are outlined within this ASX Release.

• The Leases are free of any known impediments.

Exploration done by other parties

• Acknowledgment and appraisal of exploration by other parties.

• A variety of exploration companies have undertaken work within the area of the two Exploration Licences. Western Mining (EL 2362) undertook exploration along the western boundary of the area. Exploration comprised helicopter reconnaissance and rock chip sampling, mapping, soil sampling and costeaning. Western Mining drilled 3 diamond holes at C3 anomaly and 5 RC holes at C4 anomaly with some elevated gold values reported. Anglogold Australasia and Acacia Resources explored the eastern part of the area. Limited rock chip sampling reported some elevated gold up to 10.9 g/t (CR 2001- 0225). The Goodall Gold Mine located adjacent to EL 29966 produced 4095 kg of gold with a head grade of 1.99 g/t Au between 1988-1993.

Geology

• Deposit type, geological setting and style of mineralisation.

• Sediment hosted quartz saddle reefs.

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:

  • easting and northing of the drill hole collar

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

  • dip and azimuth of the hole

  • down hole length and interception depth

  • hole length.

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

• Not Applicable - no drilling results reported.

.

Criteria

JORC Code explanation

Commentary

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.

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 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.



Not Applicable - no drilling results reported.

Relationship between mineralisation 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').



Not Applicable - no drilling results reported.

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.



Map showing tenement locations is included in Release and results are presented in Table format within the Release.

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.



Results of all samples are included in Table within ASX Release.

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.



Historical rock chip results are discussed in the text.

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.



Monax is planning detailed mapping and sampling with a view to possible drilling in early 2016.