Truscott Mining Corporation Limited provided drilling update. The plan illustrates the relationship of the structural model to an associated magnetic anomaly and the location of the cross-section A-A'. Extending three existing RC holes with diamond tails provided further observations and increased understanding in relation to the orientation and the potential depth extent of gold mineralisation.

Key references to publications and past reports that are part of a body of work, confirming data sources and supporting the interpretations of this announcement are provided in section 4 of this report. It is now possible to characterise footwall-zones of highly silicious dolomite that are located proximal to the targeted gold mineralisation. These footwall zones appear to be injected with late-stage silicious fluid flows that have exploited structure as illustrated by the blue arrows.

The next key observations were the identification of hematite shale zones that are maker beds widely documented in publications (Nobles Nob, Juno, TC8, etc.) as locators for high grade gold pods. These hematite beds are associated with a pre-gold mineralisation event and have been documented as typically exhibiting negligible gold mineralisation. The core photograph shows a hematite shale zone that, is welded by later stage silicification and less laminated than typical shale.

Progressing from 236.1 to 239.1 metres the hematite mineralisation in the shale is visually logged as having a relative abundance of 10-80% hematite. The observed hematite shales are therefore, at this time, not considered to have intrinsic commercial value. The drill holes progressed close to the interpreted footwall of the shear zone and the margin of the modelled gold pods where layers of siliceous dolomite transition into the characteristic chlorite, talc & magnetite associated with gold mineralisation.

The core in photograph was logged as one part sheared massive dolomite with relative abundance of 1-5% magnetite, with minor talc and chlorite alteration, and a second part sheared sediment with relative abundance of 10-12% magnetite, with talc and chlorite alteration. The final assays (Table 3) for the core in the photograph returned a maximum gold result of 0.64g/t Au over an interval of 0.55 metres. Those sections of the core that were logged as sheared sediment containing the higher (Grey shaded) metal values.

These observed down hole sequences of chlorite, magnetite and talc are consitent with the structural setting, and in the event that they increase in intensity towards the centre of the shear corridor at depth, then they would be typical of the host environment for high grade gold zones. The reader should however understand the future research risk associated with drill testing the thesis that potential high-grade mineralisation will be located within the centre of the shear corridor. Working towards defining mineralisation that is amenable to selective high-grade mining, Truscott utilises a cut off grade of 0.5g/t and only sperately reports drilled intersections that contain in excess 1.0g/t Au over intervals exceeding one metre.

Therefore the intersections described in the visual estimates or at any other location were not reported as signifcant intersections in this instance. The deeper drilling adjacent to the footwall zone and a review of earlier drilling allowed the overall dip of the controlling shear now being described as subvertical. This new finding being critical to frame working future deeper drilling.

Focusing Future Drilling on Significant Gold Mineralisation: The passage of drillholes 10WMRCD047 and 10WMRCD053 demonstrates the combined effect of drill drift and the subvertical mineralised shear corridor delivering the hole traces to the footwall margin of the shear zone.