Centrex Metals Limited announced that Mining is proposed to commence at the Ardmore Phosphate Project in the near future, with 25,000 tonnes of Ardmore ore to be mined, stockpiled and marketed. All approvals have been granted for the mining and associated works, and quotes are currently being negotiated from contractors for the mining and ancillary activities. Work is also proceeding in parallel aimed at selling rock phosphate from the Ardmore project to domestic and overseas customers. Centrex is continuing work on several innovative concepts that may increase the potential for rock phosphate sales, particularly within Australia. Once the initial mining operation has been carried out and the actual costs of mining have been received, it is also proposed to progress work on updating the Definitive Feasibility Study (DFS) for the Ardmore Phosphate Project. As previously advised, there have been numerous changes to commodity prices, exchange rates and projections and other project costs (including timing of the development of the project) since the publication of the original DFS, and it is proposed to progressively incorporate updated information into a revised DFS. Over the course of the 2020 year there were substantial variations in exchange rates (eg AUD:USD from 57 cents in March compared to 77 cents recently) that continue to have a daily impact on the outcome of the original DFS, which was based on an AUD:USD exchange rate of 72 cents. Once this information is quantified, Centrex anticipates the previously anticipated timing of the full development of the Ardmore Phosphate Project will be rescheduled. Centrex holds several exploration licences in the Lachlan Fold Belt in New South Wales. Recent exploration by other companies has outlined significant gold results that may have important regional potential. Following a preliminary desk-top evaluation of the gold potential at the Goulburn Gold/Base Metal Project, work is now being undertaken to formulate an exploration program targeting gold mineralisation within Centrex's granted exploration licences. It is anticipated the exploration program will be carried out later this quarter following mining at Ardmore.