Highlights

The Company now owns two highly prospective projects in two world class gold areas:

Derewo River, Indonesia

• High grade placer deposit at Derewo River is located approximately 110km north west of Freeport's Grasberg complex in the central highlands of New Guinea, Indonesia
• Early stage similarities with PNG discoveries including; Porgera, Edie Creek, Wau and Mt Kare
• The exploration target is a Porgera Zone 7 and Wafi/Gobu type deposit
• Independent geologists believe source of course nuggets within the alluvial gravels likely to be local, based on the size and shape of the nuggets discovered
• Three significant exploration targets determined; one gold/copper, one gold and one copper
• Extensive data secured from historic sampling programs completed by Freeport
• Data is a geochemical multi-element data set consisting of 2,486 samples (27,440 assays)
  - Significant panned concentrate assay of 6,864 g/t Au
  - Significant rock chips included 125 g/t Au, 19.1 g/t Au and 1.8% Cu
• The planned exploration program will involve extensive mapping and sampling work as well as the mechanisation and ramp-up of alluvial gold mining operations.

West Rand, South Africa

• Projects located on the West Rand, Johannesburg, South Africa
• Emerald Gold Project
  - Open pit project down to 50m
  - 59,000 oz @ 1.7 g/t JORC Probable and Proven Reserve (calculated @ US$1,220/oz Au)
  - Expected production of 17-20,000 ozs pa for initial 3 year period
  - 74,000 oz Monarch Resource delineated 1km along strike to south is
    expected to supplement current 3 year life of mine
  - Current NPV of $25m based on toll treating agreement
• West Wits currently has a further 426,800 @ 1.8 g/t in JORC near surface Inferred, Indicated and Measured Gold Resources
• Historical production from leases
  - 61.4m ozs of Gold
  - 37m lbs of Uranium
• West Wits currently assessing alternatives as to how best to commercialise existing SA projects.