ASX Additional Information

Shareholder Information

Issued Capital
As at 31st August 2007 the Company had on issue 106,507,071 ordinary shares and 500,000 partly paid shares issued at a price of 10c per share and paid to 1c on issue. The partly paid shares are not quoted on any exchange.

Substantial Shareholders
As at 31st August 2007 the Company had the following substantial shareholders:

Mr. Nicholas Garling                 21,254,984 shares
N.Garling – Super Fund A/c       7,017,447 shares
Ridgeview Nominees Pty Ltd      5,966,666 shares

Distribution of Shareholders
There were 1,118 shareholders. Each shareholder is entitled to one vote for each share held.

The analysis of the number of holders was:

There were 48 shareholders who held less than a marketable parcel. The top twenty holders held 58.83% of the Company capital.

Top twenty holders of ordinary shares as at 31st August, 2007

Quoted Options
As at 31st August, 2007 the Company had 53,226,643 options outstanding over unissued shares exercisable at 25c and expiring 31.12.08. issued to 582 holders.

Distribution of Optionholders
The analysis of the number of holders was:

The top twenty holders held 60.66% of the issued options.

Top twenty holders of options as at 31st August, 2007

Unquoted Securities
As at 31st August, 2007 the Company had 500,000 1c paid partly paid shares on issue to one director.

Corporate Governance Statement

All Directors, employees and consultants are expected to act with the utmost integrity and objectivity and to enhance the reputation and performance of the Company.

The Board of Directors
The Board held 5 formal meetings throughout the previous fi nancial year. At the date of this report the Board comprises five Directors; 3 executive and 2 non-executive.

The Board is responsible for the overall Corporate Governance of the Company and its primary functions include:

• the strategic direction of the Company approval of the long term goals for management
and monitoring the achievement of these goals on behalf of the shareholders;

• the approval of the annual and half-yearly fi nancial statements;

• the review and adoption of annual budgets for the fi nancial performance of the
Company and monitoring the results throughout the year; and

• ensuring the Company has implemented adequate systems to monitor compliance
activities, risk management and health and safety requirements.

Audit Committee
At the date of this report the Directors have not formed an Audit Committee. The Company is not of a size nor are its financial affairs of such complexity to justify a separate Audit Committee. All matters which might properly be dealt with by such a committee are subject to scrutiny at full board meetings.
An external audit is undertaken by Graham Abbott Associates, Chartered Accountants

Independent Professional Advice
Each Director has the right to seek independent professional advice, in relation to matters arising in the conduct of his duties, at the economic entity’s expense, subject to prior approval of the Chairman which is not to be unreasonably withheld.

The Environment
The Company also has in place an Environment Policy under which the Company, in seeking to locate and develop gold resources, is committed to achieving a high standard of environmental protection. This will be achieved while ensuring that the needs of the community and the values attached to natural and physical resources are taken into account in Company planning and the way in which business is conducted.

Shareholders
The Board aims to ensure that all shareholders are informed of signifi cant developments through regular shareholders communications. These include the Annual Report, Accounting Reports and the distribution of material covering major events when appropriate.