Name and Location
Crater Mountain gold project, Papua New Guinea (PNG).

Client
Anomaly, a subsidiary of Crater Gold Mining.

Project Description
Crater Mountain comprises the Nevera, Nimi, Masi, and Awaunita prospects. The most advanced is Nevera, which is a former BHP tier-1 asset and offers the best prospectivity. There has been more than 14 500 m of diamond drilling conducted to date, the majority of which focused on the Nevera prospect, which hosts the high grade zone gold (HGZ) project.

Crater Mountain has a defined maiden inferred Joint Ore Reserves Committee-compliant resource of 24-million tonnes at 1 g/t gold using a 0.5 g/t gold cutoff for 790 000 oz. This includes an inferred resource of 9.4-million tonnes at 1.46 g/t using a 1 g/t gold cutoff for 440 000 oz. Importantly, the estimate does not include the HGZ or the porphyry intrusion feeder zone at depth.

Net Present Value/Internal Rate of Return
Not stated.

Value
Not stated.

Duration
Not stated.

Latest Developments
Anomaly has been granted a mining lease for the Crater Mountain project. This follows a rigorous technical and environmental assessment process involving the PNG Mineral Resources Authority and the Department of Environment and Conservation.

With the mill and gravity concentration circuit commissioned on site, mining activities and gold production can start in the current quarter.

Anomaly is finalising a landowner compensation agreement to clear the way for gold production. Cash flows generated will assist in developing its other Crater Mountain prospects.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Crater Gold Mining, tel +61 2 9241 4224, fax +61 2 9252 2335 or email info@cratergold.com.au.