Interests in Mining Tenements

LOCATION TENEMENT NAME TENEMENT (1) km2 HOLDER (2) % HOLDING JV PARTNER/NOTES
Panama Cordillera Alta 2007-81 240 GCRP 100 Application; MTI (3)
Santa Fe 2007-82 58 GCRP 100 Application; MTI (3)
Rio Cobre 2007-83 91 GCRP 100 Application; MTI (3)
El Cope 2007-95 98 GCRP 100 Application; MTI (3)
Rio Tabasara 2007-96 140 GCRP 100 Application; MTI (3)
Cerro Mejico 2007-97 163 GCRP 100 Application; MTI (3)
NEW SOUTH WALES
Broken Hill Broken Hill JV EL 7390 187 GCO 100 SCI (4)
Cargo Cargo EL 5238 60 GCO 100
Cobar Region Wagga Tank (Wagga Tank JV) EL 6695 170 GCO 49 MMG (5)
Wynwood (Wagga Tank JV) EL 7226 121 MMG 51 MMG (5)
  Emu Tank (Gilgunnia Rg. JV) EL 7320 113 GCO 100 MMG (6)
Kelly’s Tank (Gilgunnia Rg JV) EL 7323 143 GCO 100 MMG (6)
  Rast North (Gilgunnia Rg. JV) EL 6879 128 GCO 100 MMG (6)
Rast  Group Pine Ridge EL 6753 103 GCO 100
Kilparney EL 6852 9 GCO 100
Rast EL 6878 118 GCO 100
Guapa Tank EL 7051 84 GCO 100
Delaney’s Tank EL 7322 153 GCO 100
Burthong Creek EL 7389 9 GCO 100
Canbelego Region Fairview Tank EL 7065 144 GCO 100
Rosevale EL 7097 135 GCO 100
Burra EL 7389 15 GCO 100
Shango South ELA 3987 35 GCO 100
Cullarin Cullarin JV EL 6292 147 GCO/TRO 35% TRO (7), GCO holds 35%
  Cullarin JV EL 6686 52 TRO 100 TRO (7), GCO holds 35%
Molong Copper Hill EL 6391 95 GCO 100
Kempfield Kempfield JV EL 5748 121 GCO 100 ARD (8)
Kempfield Group 2 (Barite) EL 5645 8 GCO 100 ARD (8)
Kempfield JV EL 7134 54 ARD 100 ARD (8)
Kempfield JV ELA 3878 200 ARD 100 ARD (8)
Kempfield Assessment Lease ALA 0041 9 GCO 100 ARD (8)
Bean Lease PLL 519 0.66 ha GCO 100 ARD (8)
Henrys’ Leases PLL 517, PLL 727 & 728 2.4 ha ARD 100 ARD (8)
Sunny Corner Sunny Corner JV EL 5964 104 GCO 100 ARD (9)
  Sunny Corner JV EL 7135 88 ARD 100 ARD (9)
West Wyalong West Wyalong JV EL 5915 114 GCO 100 ARD (10)
Yellow Mountain Yellow Mountain JV EL 6325 110 TKR 30 TKR holds 40%/PDM 30%(11)
QUEENSLAND          
Mount Isa Quita Creek EPM 14905 276 KER 100

LGDI (12)

  Highland Plains EPM 14906 300 KER 100

LGDI (12)

  Lily & Sherrin Creek EPM 14912 300 KER 100

LGDI (12)

Chinchilla (Coal) Chinchilla South EPC 1655 9 GCR 100
  Chinchilla North EPC 1659 15 GCR 100
Dalby (Coal) Dalby EPC 1658 18 GCR 100
Boonah (Coal) Warwick EPC 1643 136 GCR 100
Warwick (Coal) Warwick Extended EPCA 1656 421 GCR 100

Competing Application (13)

Pentland (Coal) Pentland EPCA 1642 192.8 GCR 100 Competing Application (13)
Warwick (Coal) Warwick North EPCA 2082 51.5 GCR 100

Competing Application (13)

Boonah (Coal) Boonah EPCA 2068 39.5 GCR 100 New Application
SOUTH AUSTRALIA            
Coober Pedy Oolgelima Hill ELA 137-09 627 GCR 100 New Application
  Giddinna ELA 229-10 656 GCR 100 New Application
Olympic Domain Koolymilka EL 135-09 910 GCR 100
Warriner Creek EL 136-09 536 GCR 100
Codna Hill EL 143-09 747 GCR 100
WESTERN AUSTRALIA Mulga Tank E 39/988 104 KER 80 PWA (14)
East Yilgarn Mulga East E 39/1072 152 KER 75 PWA (14)
  Mulga R E 39/1439 3 KER 100
  Mulga O E 39/1440 3 KER 100
  Mulga G E 39/1441 3 KER 100
Mulga Eastside E 39/1442 12 KER 100
Mulga Central West E 39/1513 134 KER 100
ROYALTIES           ROYALTY TYPE
Adelong (NSW) Adelong Gold Project ML 1435, EL 5728, & EL 6372 198 TGX Royalty 1% gross up to 2,500 oz
Mt Boppy (NSW) Canbelego Mt Boppy Gold Mine (on C&M) 2.2 PLY Royalty 3% gross
Canbelego (NSW) Canbelego EL 5842 216 GCO Royalty 5% npi over old EL5131 (16)
Wyoming One (NSW) McPhails EL 5830 10 ALK Royalty Up to 5% nsr (17)
Yellow Mountain (NSW) Yellow Mountain Former EL 5721 110 GCO/TKR Royalty 2% net smelter return
BrightStar Alpha (WA) Merolia Former E 38/970 25 AAM Royalty 2% gross
Mt Weld Area (WA) Mt Weld Former E 39/636 20 AAM Royalty 2% gross

Notes

(1)        E/EL/EPM = Exploration Licence/Permit; ELA = Exploration Licence Application; EPC/A = Exploration Permit/Application for Coal (UCG); and ML = Mining Lease and PLL = Private Land Lease.

(2)        Full names for abbreviated names are as follows:

AAM A1 Minerals Limited (ASX: AAM) PDM Paradigm Metals Ltd (ASX: PDM)
ALK Alkane Resources Limited (ASX: ALK) Polymetals Polymetals Mining Services Pty Ltd (ASX: PLY)
ARD Argent Minerals Limited (ASX: ARD) PWA Paul Winston Askins Syndicate
GCO Golden Cross Operations Pty Ltd, wholly-owned subsidiary of GCR SCI Silver City Minerals Limited
GCRP GCR Panama, wholly owned subsidiary of GCR TGX Tasman Goldfields Limited (ASX: TGX)
KER King Eagle Resources Pty Limited, wholly-owned subsidiary of GCR TRO TriAusMin Minerals Limited (ASX: TRO)
LGDIMMG Legend International Holdings (OTC: LGDI)Minerals and Metals Group Australia TKR Triako Resources Limited, wholly-owned subsidiary of CBHResources (ASX: CBH)
MTI MapIntec Technologies Inc.

(3)        MapIntec Technologies Inc., a Panamanian company, has a 10% interest free carried to a decision to mine.

(4)        Silver City Minerals Limited can earn a 51% interest in gold, silver and base metals, (but excluding nickel – platinum group metals) by spending $600,000 by 8 October 2015; and to earn 80% SCI must spend another $400,000 on exploration and development activities in the subsequent two years to 8 October 2017.

(5)        Minerals and Metals Group Australia has spent $550,000 by 6 February 2011 to earn an initial 51% interest in the Wagga Tank Joint Venture at the end of Stage 2 over EL6695 and EL7226.  GCO will continue to dilute accordingly in Stage 3.

(6)        Minerals and Metals Group Australia has to spend a minimum of $1,500,000 by 12 November 2014 to earn an initial 80% interest at the end of Stage 1 over EL’s 7320, 7323, and 6879 for the Gilgunnia Range Joint Venture.

(7)        TriAusMin has now earned a 62.5% interest by spending $200,000 to 13 September 2010.  GCO will either contribute its share or continue to dilute accordingly.

(8)        Argent has earned a minimum of 51% in the Kempfield Joint Venture by spending $2,000,000 by 1 June 2011, and can earn 70% by increasing expenditure to a total of $2,745,000 by 1 June 2013

(9)        Argent Minerals can earn 51% in the Sunny Corner Joint Venture by spending $500,000 by 1 June 2011 in Stage 1.

(10)     Argent Minerals can earn 51% in the West Wyalong Joint Venture by spending $750,000 by 1 June 2011.  Barrick Gold Corp holds a 2.5% net smelter return.

(11)     TKR (CBH) has earned a 70% interest in the Yellow Mountain Joint Venture. Paradigm Metals (PDM) advised 22 July 2011 it earned 30% by spending $400,000 by 31 March 2012, and can earn 51% by spending a further $500,000 (total of $800,000) by 31 March 2013 when TKR will dilute to a 19% interest with GCR retaining its 30% interest to that stage.

(12)     Legend International Holdings Inc. is earning 80% in phosphate minerals only by spending $3,000,000 by 7 December 2012.  GCR has 100% rights to all other minerals and is free carried to a decision to mine for phosphate only.

(13)     GCR expects to know the outcome of all these competitive applications in the December quarter, 2010. EPC1639 Nebo has been assessed as second in line in the competitive application process as at the 8 October 2010, and hence unlikely to be granted unless the priority applicant does not accept the permit grant offer.

(14)     PWA has a 20% free carried interest to decision to mine in Mulga Tank.  Dilution of PWA’s interest in Mulga East due to non-payment by PWA of its 25% contribution to exploration expenditure is a matter of discussion between the parties.

(15)     GCO holds a 5% net profits interest over former EL5131.

(16)     GCO holds a royalty of $0.75/t (first 0.5 Mt), then 3% net smelter return (to 150,000 oz), then 5% net smelter return.  GCO’s royalty interest is subject to a 10% free carried interest held by Metallic Resources Pty Ltd.

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