The 5 tenements cover 3240km2 of pastoral grazing land centred approximately 45 km northeast of Peterborough within the Orroroo SI54-01 and Olary SI54-02 1:250 000 sheets, in north central South Australia. The Mt Grainger Project Area lies within the Nackara Arc, a regionally arcuate fold belt of Neoproterozoic age (Adelaidian) sediments. Exploration activities undertaken within the project area have targeted Neoproterozoic age clastic and carbonate sediments for epithermal Au and sediment hosted Cu type deposits. Annual Reports for the periods ending in 2000 and 2001 are currently missing. Combined first annual report for EL 2864 Mt Grainger, EL 2603 Nackara, EL 2605 Fred Dam, EL 2686 Paratoo and EL 2699 Blackrock for the period ending 31st January 2002, as part of the Mt Grainger Joint Venture. The Mt Grainger Farm-In and Joint Venture Agreement between Ian and Mark Filsell (“Filsell’s”) and Rio Tinto commenced on 26th July 2001. Rio Tinto is the manager and operator of the Joint Venture. Exploration activities undertaken within the project area have targeted Neoproterozoic age clastic and carbonate sediments for epithermal Au and sediment hosted Cu type deposits. Particular focus was made on the diapiric breccia complexes along the axial zones of the Mt Grainger anticline and Whydown Dome. Work undertaken during the reporting period has included: • Review of JV data from the Filsell’s and historical data from PIRSA, • Reanalysis of 564 historical samples from the project area using 32 element ICP and Fire Assay Au. • Collection of 700 soil samples and 96 rock chip samples. • Reconnaissance mapping and prospecting of selected areas within the project area. • 1:10000 scale geological mapping over selected areas at Mt. Grainger and Paratoo. • 15.3-line km of ground magnetic surveying at Big Bend – line spacing 100 m station spacing 5 m, 10 m, and 20 m. • 13.7-line km of dipole-dipole IP/resistivity surveying at Mt Grainger, Big Bend and Paratoo. • Drilling of 4 Reverse Circulation holes (for 620 m aggregate) at Mt. Grainger (RC01MG001 – RC01MG004). • Multi-element geochemical analysis of drill samples (310 samples). • Progressive rehabilitation of drill sites and establishment of plans to manage environmental issues in compliance with the conditions of the project area Exploration Licences. Reconnaissance mapping outlined a large zone of previously identified jasperoid breccia complex (Callana Group) sub-parallel to the axial plane of the Mt. Grainger anticline. Abundant sericite and hematite alteration is evident within the breccia complex and adjacent Saddleworth siltstone. Sporadic, anomalous Au values have been obtained from sericitic and hematitic jasperoids and altered siltstones within the core of the anticline. Soil geochemical surveys have delineated an approximately 5.5km long zone of elevated Au (>20 ppb, Max 220 ppb) coincident with jasperoidal breccia. Weakly chargeable IP anomalies were delineated within the jasperoidal breccia. Drill testing of coincident IP and geochemical anomalies and geochemical only targets failed to intersect anomalous Au values. Due to the negative results from the exploration program no further involvement with Rio Tinto is recommended. As a result, Rio Tinto will withdraw from the Mt Grainger Joint Venture. Range River Gold N.L. are the managers of the Nackara Arc project, under a farm-in agreement covering Exploration Licences (EL’s) 2603, 2605, 2686 and 2864. Total area is 2983km2 Exploration activity undertaken within the project targeted structurally controlled Au, sediment hosted Au, and intrusive related skarn Au/Cu. The work included: • Reviewing geology and past exploration. • Compilation of open file aeromagnetic and gravity data. • Reprocessing and interpretation of dipole-dipole IP/Resistivity data at Big Bend-Oodla Wirra, Mount Grainger and Paratoo. • Compiled ASTER Multispectral satellite images for the Nackara Arc area • Collection of 149 rock chip samples spread across the project area. • 1:10,000 scale geological mapping at Paratoo, Big Bend-Oodla Wirra and Mount Grainger. • Drilling 14 RC holes for 1976 m at Paratoo and Big Bend-Oodla Wirra. • Drilling 198 RAB holes for 8,544 m at Paratoo and Central Axis-Mount Grainger. • Multi-element geochemical analysis of drill samples. Exploration at Paratoo has defined low grade gold mineralisation, extending for 900 and 400 m respectively in a northeast direction from the old workings. Gold mineralisation returned 1 m @ 2.35 g/t from 47 m in PARC5, and 8 m @ 0.20 g/t from 36 metres in PARB12. Broad intervals of low-grade copper values were co-incident with the gold mineralisation, extending over 3000 m. Copper results included 12 m @ 1.3% Cu from surface in PARC7, 20 m @ 0.4 % Cu from 12 m in PARB 28 and 27 m @ 0.2% Cu from 24 m in PARB 89. Drill testing of geophysical targets and coincident geochemical anomalies at Big Bend-Oodla Wirra and the Saddleworth Formation in the Central Axis-Mount Grainger failed to intersect anomalous gold values. Interesting rock chip results of 9.58 g/t Au at Dustholes and 7.36 g/t Au at Mount Grainger North were achieved. During the third year of combined annual reporting, for the period ending 31st January 2004, work carried out across the Nackara Project during the reporting period consisted of: • RC Drilling (17 holes for 1516 metres) at the Dustholes, Mount Grainger, Oodla Wirra and the Flux Quarry. • Multi-element geochemical analysis of all drill samples. • Bottle roll analysis of selected anomalous drill intervals. • Soil sampling at Dustholes area. 63 samples were taken over a mineralised region. • Metallurgical studies of drill cuttings from the Dustholes -12 drill cutting samples were submitted to Amdel to undertake preliminary testing to evaluate the heap leaching potential of three samples of gold ore. Interesting results returned from the RC drilling at the Dustholes included: • 12 m @ 1g/t Au from 40 m depth in drillhole MTGC005. • A 20 m mineralised zone in drillhole MTGC006, including 4 m @ 1.4g/t Au from 52 m depth. • 20 m @ 1.3g/t Au from 8 m depth in drillhole MTGC007. • 4 m @ 2.4g/t Au from 24 m depth in drillhole MTGC008. • A 40 m mineralised zone in drillhole MTGC010, including 20m @ 1.5g/t Au from 64 m depth. Follow-up soil sampling across the Dustholes has returned a number of anomalous results that will be followed up as soon as is practicable. Bottle roll analysis was undertaken to test the variability in assays as a result of relatively coarse wire-like particle of gold that has been recovered in the Mount Grainger area. Results were compared with the original Fire Assay results, there was no major upgrade to the low grade gold values. During the reporting period Range River Gold Ltd (Range River) has entered into agreements with Mark Filsell, Ian Filsell, William Filsell and John Simnovec to acquire an interest in the following four tenements. The Nackara Arc farm-in agreement requires Range River to expend $500,000 on exploration within the first year of which at least $100,000 will be for drilling. Under the terms of the agreement Range River will earn a 51% interest in the four tenements by spending, in total, $750,000 over the four tenements within the first 2 years. The Company will earn a further 37% interest (taking its total interest to 88%) by spending a further $750,000 within an additional 18 months of the agreement (i.e., within 42 months of the Commencement Date). EL 2603 underwent a 25% reduction in area in July 2003. On the 14 January 2004 Range River Gold N.L. changed its name to Range River Gold Ltd. During the fourth combined annual report to 31st January 2005 for the Nackara Arc Project, tenement EL 2605 was surrendered and EL 2603 underwent a reduction in area and was subsequently renewed as EL 3225. Exploration activities across the Nackara Project during the reporting period included: • Data compilation and review – this work led to the surrender of EL 2605; and the partial surrender - and subsequent renewal - of EL 3225 (formerly EL 2603). • Geological reconnaissance -assess the exploration potential at Dustholes, Oodla Wirra and Mount Grainger. • Consultant geologist field visit and evaluation report – consultant Terry Leach was contracted to complete a report on the prospectivity of the Mount Grainger Anticline and the Nackara Project area. • Continuing assessment of the heap leach potential of the Dustholes mineralised horizon. • Soil sampling – 25 samples (DHS064 – 088) - The sampling followed-up sampling carried out in the previous year, and further delineated the mineralised basal quartzite horizon over a length of 3 km. • Drillhole rehabilitation. Follow-up soil sampling across the Dustholes has returned a number of anomalous results that require further exploration. During the fifth combined annual report to 31st January 2006 for the Nackara Arc Project, Range River withdrew from the joint venture agreement over the project area in January 2006. During this reporting period a thorough review of the exploration potential of the property was undertaken. Previous exploration was reviewed, and field assessment was carried out by Range River consultant geologist RJ Burke. Ian and Mark Filsell also carried out assessment activities – primarily looking at the heap leach potential of the Dustholes line of mineralisation. As a result of this work Range River geologists have recommended that no further work is warranted on the Nackara Project. No work was completed in the period to 31st January 2007 over the project area.