PVW Resources advised that it has secured new exploration and growth opportunity in one of the world's most prospective emerging REE provinces, the Gascoyne Province in north-west Western Australia. The Company has entered into a purchase agreement to acquire a 100% interest in a portfolio of five exploration tenements located in close proximity to a number of recent REE discoveries and the new Yangibana rare earths mine (Figure 1). The 316km2 Project consists of one granted Exploration Licence and four Exploration Licence Applications in highly prospective parts of the Capricorn Orogen within the Gascoyne Province.

Situated east of Gascoyne Junction township, the region has quickly become highly prospective for REE in a variety of geological environments. Hastings Technology Metals and Dreadnought have resource projects located approximately 120km north of PVW's closest tenement, while Kingfisher Mining has reported significant recent REE surface results within 15km along strike to the north-west from the same tenure. Other active explorers who have released very positive results in the region include Desert Metals and Krakatoa Resources.

While in the Gascoyne Province PVW will focus on carbonatite and other hydrothermal REE mineralisation, the monazite sands and clay-hosted deposits being discovered regionally are also viable targets that will be explored. Key terms of the Gascoyne Project purchase agreement include: the acquisition of the project tenement holders (being Rare Metals Group Pty Ltd. and Tiger Metals Pty Ltd); on execution of the purchase agreement, the payment of $40,000 cash and the issue 1,578,189 PVW shares (subject to 6 month escrow) to the project vendors; on the earlier of the date of grant of the pending tenements and 6 months after execution of the purchase agreement, the issue to the project vendors of PVW shares to the value of $200,000 (at an issue price equal to the 10-day VWAP of PVW shares as at the date of issue), a further issue to the project vendors of PVW shares to the value of $200,000 (at an issue price equal to the 10-day VWAP of PVW shares as at the date of issue) in the event PVW's drilling activity at the project results in an intersection of at least 5 meters @ 5,000 ppm TREO; and payment of an asset introduction fee of 550,000 PVW shares (excl. GST) to CPS Capital Group Pty Ltd. Previous work over the tenements has not focused on REE and exploration in general is limited.

Highly anomalous TREO results were returned by previous explorer Desert Mines and Metals in March 2012 during gold exploration activities. DMIRS Annual report A093121 reports 2 TREO anomalous BLEG (-2mm) stream sediment samples on now E09/2693 and one on now E09/2694. These surface samples provide confirmation of anomalous REE in the area.