The Company has sold the Munro Bore tenement to a private group which has excercised its option to purchase the tenement for $50,000 in cash payments (received) and a production royalty of $25 per ounce on the first 10,000 ounces produced and $10 per ounce uncapped on production in excess of 10,000 ounces of gold.

The Munro Bore project is located on a granted Mining Lease in Western Australia’s Murchison province. A total Inferred Resource of 270,000 tonnes @ 1.6 grams per tonne Au is estimated to a maximum depth of 70 metres below surface for the Northern and Southern zones at Munro Bore.