Initial High Grade Resource at Copenhagen Deposit

The Copenhagen project was sampled using RC and diamond drilling from surface. Data for a total of 50 RC holes for 2875.5m were available to GeoServ. Holes were drilled in various orientations but most commonly to the south-west, orthogonal to the overall strike of the mineralisation. Holes were almost exclusively drilled at -60 degrees dip on a variable spacing approaching 25m x 25m.

Records show RC samples were collected at one metre intervals by a riffle splitter mounted to the drill rig cyclone where details exist. The method of sample collection in other cases is unknown. Diamond drilling was sampled at variable intervals constrained to observed features and the main vein. QAQC records were not sighted.

RC drill holes were sampled at one metre intervals exclusively and split at the rig to achieve a target 2-5 kilogram sample weight. Samples were prepared via the standard approach used by commercial gold labs, then assayed presumably using aqua regia.

Recent Keras RC drilling employed a diameter of 140mm (5.5"). Drilling was completed using face sampling hammer with hole depths 78m to 102m. Drilling completed prior to Keras used unknown hammer configuration with depths ranging 43m to 207m. Diamond core sizes drilled are not known, with holes ranging in depth from 133m to 418.2m. Core is assumed not to have been orientated as no structural information is available. Down hole surveys were completed using a single shot camera.

Where recorded RC sample recovery is noted as being generally good..

RC recoveries were visually checked for recovery, moisture and contamination.

Insufficient information is available to determine whether a relationship exists between sample recovery and grade. Available reports suggests that recovery was generally good and as such it is not expected that any such relationship would have a significant effect on any global estimate.

RC chips were geologically logged using predefined lithological, mineralogical and physical characteristic (colour, weathering etc) logging codes. RC logging was completed on one metre intervals at the rig by the geologist or on geological or lithological intervals for diamond core. It is reported that chip trays were collected for each of the RC intervals and that diamond core was placed into trays and stored on site. Neither the chip trays or diamond core were available to review for holes other than those drilled by Keras.

Logging was qualitative in nature.

100% of all recovered intervals were geologically logged.

Based on available reports diamond core was cut in half longitudinally with half submitted for analysis and the other half retained in core trays.

RC samples were collected from the full recovered interval at the drill rig by riffle splitter. Water content in historic RC samples is unknown. Keras RC samples were drilled dry.

The sample preparation techniques employed by each of the laboratories include oven drying at 120°C for 8 hours before being pulverised to achieve a grind size of 85% passing 75 micron. For pre-Keras drillholes, procedures are unknown.

Unknown.

Unknown.

The sample sizes collected are in line with standard practice however the high nugget nature of mineralisation suggests increased sample sizes would be more appropriate. As for all precious metals deposits, larger samples sizes provide better representivity.

Majority of assays were completed at unknown laboratories. Keras samples were analysed at SGS Kalgoorlie via fire assay.

NA.

Unknown.

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Keras holes were used as confirmatory holes. Results confirmed grades and widths of historic intercepts.

Earlier primary data was collected using paper logs and transferred into Excel spreadsheets for transfer into the drill hole database. MS Access is used as the database storage and management software and incorporates numerous data validation and integrity checks using a series of predefined relationships. GeoServ suspects not all drill data from the project may be hand.

Adjustments made to the assay data were limited to the replacement of below detection results with half the applicable detection limit.

Data provided by Norton Goldfields - accuracy assumed and verified during pickup of Keras collars using DGPS.

The grid system used is MGA94 Zone 50. All reported coordinates are referenced to this grid. Original data has been transformed from AMG84 Zone 50.

Topographic control is based on aerial survey data collected using 2m contours. Quality is considered acceptable.

Drilling has been completed on a variable grid approaching 20mX x 20mY, drilled orthogonal to the strike of mineralisation.

The degree of geological and grade continuity demonstrated by the data density is sufficient to support the definition of Mineral Resources.

Samples have been composited to one metre lengths using a minimum acceptable length of 0.75m. The majority of samples were collected on 1-metre intervals and as such very few composites were rejected for failing to achieve the minimum length. Those composites which failed to achieve this minimum were analysed and due to their small number and consistent assay statistics were not likely to introduce bias nor affect the quality of the resource estimate.

The gold mineralisation at Prince of Wales manifests as a main narrow quartz vein striking approximately 095 and dipping steeply (80°-90°) to the south. Several subordinate veins exist parallel and oblique to the main vein. Drilling is predominantly conducted at -60 degrees orthogonal to strike and as such drill holes intersect the mineralisation close to perpendicular. As such the orientation of drilling is not likely to introduce a sampling bias.

The orientation of drilling with respect to mineralisation is not expected to introduce any sampling bias.

Measures employed to ensure sample security are unknown.

The Copenhagen Gold Project is situated in the East Pilbara District of the Pilbara Goldfield of Western Australia, approximately 190km SE of Port Hedland and approximately 20km SE of the town of Marble Bar.

The project, comprising four mining leases and covering 6.0705 hectares, is located within the historic Warrawoona Mining Centre with 100% beneficial interest owned by Haoma Mining NL.

The tenements are in good standing and no known impediments exist.

The Copenhagen area is thought to have been discovered as a result of the gold rushes to the Pilbara in the late 1880s and is reported to have produced 4800oz Au. Modern exploration has been undertaken by the Geological Survey of Western Australia (GSWA) followed by a number of explorers in the mid-1980s and then from 1994 to the present day. During this period Fortuna and haoma were the preminent explorers. Drilling information from these explorers has been reviewed and included as part of this Mineral Resource estimate, with the respective confidence in the quality considered in assignment of the Mineral Resource classification applied.

The Copenhagen mining leases lie within the Warrawoona Group, one of the oldest greenstone belts within the Pilbara Craton. Composed largely of high-Mg basaltic lavas with lesser tholeiite, andesite, sodic dacite, potassic rhyolite, chert and banded iron formation (BIF), all metamorphosed to greenschist facies, the Warrawoona Group is sandwiched between the Mount Edgar Granitoid Complex to the north and the Corunna Downs Granitoid Complex to the south. Four deformation events are recognised in the area; the earliest is schistosity developed parallel to the margin of the Corunna Downs Batholith. The second deformation is local and involved tight isoclinal folding. The third deformation event is represented by intense shear zones which are associated with gold mineralisation. The shears are steep dipping to near vertical and are considered to have a reverse movement. The gold mineralisation is localised within the zone of intense shearing and carbonate and sericite alteration.

At Copenhagen, a strongly sheared, carbonated zone denoted the lode. It is hosted by a lesser altered ultramafic talc-chlorite schist, which is in turn bounded by chert.

Refer to Appendix 1

All reported assays have been length weighted. No top-cuts have been applied in the compilation of length weighted grades for reporting of exploration results. A nominal lower cut-off grade of 0.5g/t Au is applied, with up to two metres internal dilution.

High grade gold intercepts within broader lower grade intercepts are reported as included intervals.

No metal equivalents values are used for reporting of exploration results.

The gold mineralisation identified to date at the Copenhagen project consists of a number of interpreted mineralised veins striking approximately 120 and dipping sub-vertically. Resource drilling is predominantly conducted at -60 degrees orthogonal to strike and as such drill holes intersect the mineralisation close to perpendicular.

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Mapping has been completed and is presented in various reports. Some are reproduced in the following compilation.

Intensive exploration and resource development work is planned for 2017 as part of a concerted effort to re-establish the project, including RC drilling and geological interpretation.

Earlier primary data was collected using paper logs and transferred into Excel spreadsheets for transfer into the drill hole database. Details on the import of assay data are not recorded however is assumed that they are imported from digital files.

All drill holes within the Access database were imported into Surpac and plotted This process performs an internal check of the data and lists any areas where there are overlapping samples, inconsistent sample intervals, or negative intervals and visual checks completed to ensure all holes plotted correctly and that they aligned with the topography. This process did not identify any issues which may have a material effect on the result. Assays were plotted and reviewed on each hole together with the lithology logged for each interval.

The Copenhagen project was visited by GeoServ Perth Pty Ltd employees in 2012 during which time mapping and geological reconnaissance across all tenements was completed.

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Confidence in the geological interpretation is good given the strong visual nature of mineralisation.

The geological interpretation is based on available logging information and no assumptions have been made.

The strong structural control of mineralisation and its observed relationship to shearing effectively precludes any alternate interpretation. There remains possibility that higher grade zones may be related to secondary cross cutting structures however this is yet to be tested and insufficient information currently exists to reflect this.

Geological surface mapping including structural observations were incorporated into the Mineral Resource estimate and assisted with providing support for the mineralisation interpretation.

The presence of main lode and its outer ultrmafic host is considered a marker horizon, with mineralisation generally constrained to the Copenhagen Shear. The continuity of grade is likely to be affected by the nuggetty nature of gold mineralisation and the variable nature (width and continuity) of the host quartz veins.

A total of 2 individual lenses reflecting gold mineralisation above a nominal cut-off of 0.2g/t Au were generated. These lenses dip sub-vertically and strike approximately 120. Lenses vary in width from a few metres to tens of metres, although average 3-4 metres, and have strike lengths between 50m to 200m. Mineralisation extends to depths between 50 and 70 metres below surface.

Grade estimation was completed using Inverse Distance Cubed (ID3). Surpac software was used to generate the resource block model and to estimate the gold grades.

Drill hole sample data was flagged within the database with the corresponding domain as defined by the interpreted solids. Sample data was composited to 1m intervals within each of the flagged domains and investigated for the application of top-cuts.

Grade was estimated into each of the mineralisation objects, each flagged as a unique domain within the block model to allow appropriate constraint of the composite data and estimation.

Various historical mineral resource estimates have been completed on the Copenhagen project. Each has employed significantly different methodology and techniques however they broadly reflect the grade and tonnage obtained in this estimate. No recent mine production has been recorded.

No assumptions have been made regarding the recovery of by-products.

No estimates of elements other than gold, deleterious or otherwise, have been completed.

The Copenhagen block model employs parent blocks with dimensions 10mX x 10mY x 10mZ representing approximately half the average drill spacing in northing and easting. Sub-blocking down to 2.5mX x 2.5mY x 2.5mZ allowed accurate resolution of the wireframe volumes. Grades were estimated into parent blocks only, with sub-blocks being assigned the value of their corresponding parent. Discretisation was set to 3X x 3Y x 3Z for all domains.

Search distances for estimation were set at approximately the maximum continuity of the variogram model. The minimum (4) and maximum (16) samples were defined based on available composites and spatial distribution and were constant across all domains.

Selection of the block size was based on available drilling data and is therefore significantly larger than any anticipated SMU.

No assumptions were made about correlation between variables.

The geological interpretation was used to guide the generation of mineralisation domains. Domains are used as hard boundaries to constrain sample data and blocks for estimation.

Top-cuts were applied via the use of a relative difference approach in which the composites were ranked and their relative difference plotted graphically to determine values at which the continuity of grades disintegrated. Of the 2 domains, both had a top-cut applied. The relevant top-cut value was based on the highest value at which composites showed a constant distribution.

Validation of the block model involved graphical review of the assay data against the block grades. Overall this showed that generally the block grades reflected the assay grades, although with a smoother distribution. Also important was investigation of the respective tonnages being estimated, with good correlation between composites and blocks more important in those zones reflecting large tonnages i.e. the majority of the tonnes generate good correlations between composites and blocks.

No reconciliation data was available for inclusion in the validation.

All tonnages are estimated on a dry basis.

A nominal cut-off of 0.2g/t Au was applied to the interpretation of the Copenhagen prospect in order to assist with generating continuity of mineralisation. The reporting of Mineral Resources is done at 0g/t Au cut-off.

Given the shallow nature of mineralisation, existing pit void and flat topography, mining is likely to be completed initially using standard open pit mining techniques. No assumptions on mining methodology have been made.

Little metallurgical data has been sighted.

No assumptions have been made.

Assignment of bulk density values to the block model were assumed based on average measurements for the lithology types encountered at Copenhagen. Bulk densities are assigned based on weathering state.

Bulk density determinations have not been completed and instead use assigned values based on average densities of similar lithological units. Drilling has not identified the presence of any voids nor significant differences between lithologies and alteration zones.

Application of bulk density values was based on a series of surfaces representing  transitional and fresh oxidation RL's.

Classification of the Mineral Resource considered the interpretation confidence, drilling density, demonstrated continuity, estimation statistics (conditional bias, kriging efficiency), estimation pass and block model validation results.

Use of aqua regia may mean some undercall of grade especially in areas of coarse gold mineralisation. The validation of the block model shows good correlation between input data and block grades.

The assignment of the Mineral Resource classifications reflects the Competent Person's view of the deposit.

No audits or review have been completed for the Mineral Resource estimate.

The relative accuracy of the Mineral Resource estimate is reflected in the reporting of the Mineral Resource as per the guidelines of the 2012 JORC Code.

The statement relates to the global estimates of tonnes and grades.