Whispering Ridge (MDL 298) and Sunday Creek (EPM 15896) Magnetite Deposits Exploration Update to December 2013 Queensland Australia

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Whispering Ridge (MDL 298) and Sunday Creek (EPM 15896) Magnetite Deposits

Exploration Update to December 2013

WHERE WE STARTED – Previous investigators (Western Mining Corp, CRAE, Shell and Snowmist Pty Ltd) hypothesized that the intersection of the two Mega-structures, the Palmerville Fault Zone and the Burdekin Fault Zone, was a major corporate metals exploration venue. Subsequent hands-on exploration discovered and drilled the Whispering Ridge Magnetite Deposits. An additional series of magnetite-rich rocks were discovered north of Sunday Creek as well as molybdenum enriched rocks in the vicinity of Boeing Hill.

WHERE WE ARE TODAY – M. J. Omodei acquired 100% ownership of Whispering Ridge (MDL 298) and was granted Sunday Creek (EPM 15896), which encompasses the above-described mega-structural fault zones intersection. Queensland Iron Development Corporation Pty Ltd (QIDC), as Operator, has been aggressively exploring within these tenements and has defined:-

Additional drilling targets within the Whispering Ridge Magnetite Deposits MDL 298 Zone “A” and surrounding border areas in EPM 15896 using the QIDC ground magnetic data generated by Gap Geophysics Australia Pty Ltd, including their Anomaly Zones “B” and “C”.

Refined and updated the detailed drilling targets at Whispering Ridge in preparation for an expanded RC drilling effort at Whispering Ridge.

Discovered and expanded magnetite-hematite prospects and poly-metallic prospects within EPM 15896 by detailed follow up of numerous, large magnetite anomalies displayed by the newly collected Gap Geophysics Australia Pty Ltd ground magnetic data set.

Evaluated and ground-truthed aero-magnetics and aero-electromagnetics data previously captured by Shell and BHPBilliton. These data sets specifically depicts the above-described Megastructures and their associated, embedded, magnetic anomalies.

Over the years 2009/2010, hands-on follow up exploration work (prospecting, geology, soils sampling and rock chip sampling) in the area has discovered significant iron, gold, copper, tin, tungsten, bismuth and molybdenum prospects. There are apparently at least four styles of metals deposits discovered:

1. Iron oxide copper – gold deposits (IOCG)

2. Porphyry molybdenum deposits

3. Poly-metallic skarn deposits

4. Magnetite deposits with skarn affinities

Technical geological evaluations by comparison of Sunday Creek (including Whispering Ridge MDL 298) to Tennant Creek and Olympic Dam-Prominent Hill styles of mineralization.

A Project Preliminary Draft Development Schedule for 2009 and 2010.

At Whispering Ridge Zone “A”, three R C drill holes were successfully drilled geologically in that the three holes WRD-3, 4 and 6 all intersected the magnetite lode near the targeted depth. This should increase the tonnage potential and give a more exact orientation of the lode zone. In addition, an R C drill hole JH #1 tested the Zone “B” anomaly.

In November 2010 a report by our mining engineer details the audited Whispering Ridge Zone A drill hole plans and sections. The original drilling model has been updated and a revised 3D live movie model covering all drilling works to date.

A draft accelerated program covering 2011/2012 for Whispering Ridge MDL 298 and surrounding areas has been updated.

The many similarities (geochemically) to Tennant Creek, and less so to Olympic Dam-Prominent Hill, means that the known ironstone lodes (such as Whispering Ridge) be drilled, targeting not only the iron, but also any gold that may occur on the base of such ironstone lodes.

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WHISPERING RIDGE MAGNETITE

PROJECT MDL 298

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Whispering Ridge Magnetite Project MDL 298 Far North Queensland

Sunday Creek Extension Project EPM18361 – Third Annual Report for the period 28 February 2013 to 28 February 2014

Whispering Ridge Iron (Magnetite) and Other Minerals Project MDL 298 – Sixth Annual Report for the period 1 January 2013 to 31 December 2013

Sunday Creek Iron (Magnetite) and Other Minerals Project EPM 15896 – Sixth Annual Report for the period 16 November 2012 to 16 November 2013

Sunday Creek Extension Project EPM18361 – Second Annual Report for the period 28 February 2012 to 28 February 2013

Whispering Ridge Magnetite Project MDL 298 – Fifth Annual Report for the period 1 January 2012 to 31 December 2012

Sunday Creek Iron (Magnetite) and Other Minerals Project EPM 15896 – Fifth Annual Report for the period 16 November 2011 to 16 November 2012

Sunday Creek Extension Project EPM18361 – First Annual Report for the period 28 February 2011 to 28 February 2012

Whispering Ridge Magnetite Project MDL 298 – Fourth Annual Report for the period 1 January 2011 to 31 December 2011

Sunday Creek Magnetite Project EPM 15896 – Fourth Annual Report for the period 16 November 2010 to 16 November 2011

Whispering Ridge Magnetite Project MDL 298 – Third Annual Report for the period 1 January 2010 to 31 December 2010

Sunday Creek Magnetite Project EPM 15896 – Third Annual Report for the period 16 November 2009 to 16 November 2010

Whispering Ridge Magnetite Project MDL 298 – Second Annual Report for the period 1 January 2009 to 31 December 2009

Sunday Creek Magnetite Project EPM 15896 – Second Annual Report for the period 16 November 2008 to 16 November 2009

Whispering Ridge Magnetite Project MDL 298 – First Annual Report for the period 1 January 2008 to 31 December 2008

Sunday Creek Magnetite Project EPM 15896 – First Annual Report for the period 16 November 2007 to 16 November 2008

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