During the twelfth, 2013-2014 project year, work on the now combined licence holdings of the Terramin Group focussed on prospect evaluation done at Bird-in-Hand (environmental and hydrological studies), Wheal Barton and Golden Slope, plus the ongoing compilation of historic data into digital format, and doing in-field assessments of historic mines. Ground gravity surveys were read at Wheal Barton and Kapunda, and ground magnetic and EM surveys were acquired at Wheal Barton and Golden Slope, the latter with the assistance of TAFE SA geoscience students. Drilling, using open hole percussion methods for a total penetration of 1083.2 m, and wireline optical hole wallrock televiewer logging of five vertical water bores designed for the purpose of groundwater modelling were undertaken at Bird-in-Hand. Key outcomes of doing this water bore drilling were the confirmation that aquifers at depth are fracture hosted, that the groundwater flow rate in unfractured Brighton Limestone is in the order of 3 litres per second, and that two of the larger fractures (faults) within the Tarcowie Siltstone, that “host” the aquifers, appear to control the extent of the Bird-in-Hand mineralisation. An infill delineation drilling programme for Bird-in-Hand was designed, that would convert the top two-thirds of the current Inferred Resource to Indicated category. From Terramin’s 2013 Scoping Study, it was decided that approximately half of the current resource needs to be able to be converted to reserve (to comply with JORC requirements, only Resources classified as either Indicated or Measured can be used for a Reserve). 21 holes for ~5500 m were proposed, to infill a zone between 315 m RL (15 m beneath the historical workings) down to 140 m RL, to give a planar data density of <20 m between adjacent holes. They would be sufficient to convert 100% of the existing Inferred Resource, and would provide samples for metallurgical testing, besides supplying further information on geotechnical and hydrological conditions within the mineralised zone. Plans were also made to drill 3 additional holes for ~1100 m to infill beneath the 140 m RL, to reduce the planar hole spacing there to <60 m and increase confidence in the quantum of this part of the Inferred Resource. Further historic drillholes from Kapunda, and CRAE hole RC94TR19 from the Angaston district, which are stored at the DSD Core Library, were inspected and analysed on-site using two different makes of hand-help pXRF instruments, and 5 apparently copper-rich samples were taken from the latter drillhole to send for laboratory assaying. The majority of the new surface geochemical samples collected came from Wheal Barton and Golden Slope. Most were initially analysed using pXRF, and only a few selected samples were submitted for laboratory check assaying and determination of their gold content. During the year, Terramin began collecting baseline environmental data for satisfying the regulatory approval processes. Data were collected by contractors for the following topics and purposes: • groundwater – pump out tests and regional bore census • surface water – flow quantity and water quality • flora and fauna – via a primary Spring season survey • dust – atmospheric logger • noise – 24 hour logger recording magnitude • soil – in situ undisturbed profiles • traffic movement. The dust, groundwater, surface water and soil samples were analysed by various methods for pH, Eh, anions, cations, pesticides, herbicides, etc., to determine the baseline levels of contamination. Evidence of pollution caused by the historic mining was seen in the widespread elevated levels of lead within the drainage systems, and mercury and lead contamination was detected around the sites of retorts and tailing dams. Evidence of past and present farm use of pesticides and herbicides was seen in the surface water and groundwater. Because Terramin has been actively working in the Adelaide Hills for over ten years, the company well understands the importance and benefits of gaining and maintaining acceptance within local communities. A Social Licence to Operate (SLO) is only possible when communities feel they are adequately consulted and are receiving a fair share of benefits from mining projects. A SLO should never be taken for granted, as it is based on satisfaction with the fulfilment of promises and obligations. A SLO can be revoked due to various events such environmental damages or perceived or actual betrayal by non-fulfilment of promises or obligations. Terramin successfully negotiated access agreements with landowners for drilling that was undertaken during 2014 field season. During 2014, Terramin kept the Bird-in-Hand landowners and regional stakeholders informed, and complied with the negotiated access agreements. The current access agreements will expire prior to any work being undertaken in 2015. The positive relationship Terramin has built with the landowners should ensure ongoing access. During the reporting period Terramin held three meetings with the Inverbrackie Groundwater Focus Group. Meetings were held at both the Woodside and Charleston town halls and were typically attended by 50 to 70 people. The Bird-in-Hand Project falls with the precinct of the Adelaide Hills Council. Presentations were made to and meetings were held with council members to keep them informed of Terramin’s plans and of the progress made. In order to find additional sources of ore that can be transported to the Angas Zinc Project ore processing plant, and be compatibly blended with the Bird-in-Hand ore, detailed reviews were commenced on the following historic prospects: Bird-in-Hand, Bird Extended, The Ridge - Honeysuckle, and Blackbird - Lone Hand mines, Golden Slope, and the Palmer Goldfield. Furthermore, a review of the project area's copper potential was undertaken, with particular focus on the historic Kapunda, Wheal Barton, Lachymoor, Wheal Rothschild, and Hope copper mines. Preliminary work commenced on assessing the historic Torrens and Alexanders Section pegmatite reef tin mines located near Gumeracha. A small gravity survey was read at Kapunda for Terramin in March 2014, revealing a residual 3 mGal negative anomaly in the historic open cut mine area which was interpreted to reflect the intense kaolinitic alteration associated with the copper mineralisation, which is assumed to be the result of acid sulphate weathering. Rock chip geochemical sampling performed by Terramin within and around the mine pits revealed elevated rare earth oxides (+20%), gold (up to 3.54 ppm Au), scandium (up to 572 ppm Sc) and uranium (up to 2598 ppm U) associated with the copper mineralisation. The highest gold value (associated with 1.165% Cu) was obtained from a remnant of the Main lode exposed in the Main open cut. The highest assay values for REE, scandium and uranium came from sampled narrow ferruginous quartz veins exposed in the eastern wall of the Stockyard open cut. Within the Kapunda regional gravity low there are a few positive gravity features that Terramin thought might represent sulphides at depth. One of these features is located beneath East Terrace, between the Kapunda mine and the Kapunda East prospect. Drilling in the mid 1970s by Utah, partway between this feature and the Kapunda open cuts, encountered copper sulphide mineralisation at a depth of ~300 m, e.g. in hole KD011, from 399 m downhole, 38 m @ 0.85% Cu, including from 426 m downhole, 11 m @ 2.00% Cu; and in hole KD008, from 383 m downhole, 73 m @ 0.58% Cu. Terramin's modelling of the top of the sulphide mineralisation intersected in this drilling suggests a dip direction of 42 degrees to 120 azimuth. It was noted that these holes were not assayed for gold: therefore, going by the now known gold credit within the Kapunda Main lode copper orebody as just mentioned, the economic potential of other nearby low grade copper occurrences could be significantly boosted by a +1 g/t Au content. Terramin began evaluating the possibility of extracting the remaining copper at the Kapunda prospect by in situ recovery (ISR). The defined supergene copper mineralisation is up to 100 m thick and covers an area of 1200cm north-south x 500 m east-west. The depth to the water table as measured in monitoring bores located to the west of the old workings is recorded as 10 m. The ground water is currently not being used by the local community. Preliminary block modelling of the mineralisation (non-JORC compliant) indicated that at a cut-off of 0.05% Cu, and using an assumed density of 2.0 t/cubic m, there remains ~102 Mt @ 0.23% Cu containing 234 kt of copper metal. On ground which formerly was part of its Fleurieu Project, Terramin has identified significant potential for finding buried base and precious metal mineralisation at the Freeway, Glenalbyn, Angas Deeps Extension, Brinkley, Pipeline, Icon, Holmes Watson, Eckert and Anomaly 19 prospects. The current understanding of prospectivity factors for each is presented in some detail herein. Terramin undertook a review of the detrital heavy mineral sand potential in the north-eastern Fleurieu region using geophysical data from the Australian Commonwealth Department of Agriculture's 2004 Murray Basin Aerial EM and magnetic (TEMPEST) survey, and identified a few linear magnetic features within its licences which it surmised may be less HM prospective offshore bars, when their likely palaeogeographic setting is compared to the foreshore dunes hosting the Mindarie and other deposits being mined by Murray Zircon. With regard to diamond exploration, Terramin is considering whether to soon drill the Heingus and Jaensch prospects located north-east of Strathalbyn. They are defined by prominent SE-NW aligned linear magnetic anomalies which coincide with topographic lows and closely match in position to chromium, nickel and magnesium anomalies detected in the company's soil geochemical sampling. If these anomalies in fact do originate from lamprophyre or kimberlite dykes of the type seen in the Eurelia dyke swarm, such rocks may be the proximal source(s) for the 200 or so known alluvial diamonds that have been found in the Echunga gold diggings. During the thirteenth, 2014-2015 project year, none of the drilling that had been planned at Bird-in-Hand, Wheal Barton and Golden Slope was done. Instead, the funds assigned thereto (A$1.4 million) were spent on acquiring a parcel of land adjacent to the Bird-in-Hand gold deposit. The property purchased falls within Terramin’s intended Bird-in-Hand mining lease area. Ongoing spatial georeferencing of mapped historic drillhole collar locations plus drill sample data compilation from hard copy historic reports added another 1431 assay results from 54 holes to Terramin’s project digital database. The data came mostly from past work that had been done at the Ukaparinga, Lyndoch Valley and Enterprise copper mine prospects. Eleven holes drilled by Thiess Bros Pty Ltd in 1979 were inspected at the DSD core library and analysed using pXRF instruments. A this time, Terramin began to collect some surface geochemical samples from publically accessible locations outside of its project area, to obtain data which might help it better understand the regional prospectivity, and to take advantage of the limited bedrock outcrops within the Murray Basin western margin region. With varying degrees of success, small ground geophysical surveys were collected by TAFE SA geoscience students at the Bird-in-Hand, Brind, Ridge, Kapunda and North Rhine mine prospects. The students acquired a combination of ground magnetic and EM readings using a CMD electromagnetic conductivity meter, but the instrument appears to have malfunctioned during some of the surveys. The company's contractors continued to collect baseline environmental data at the Bird-in-Hand site, with the addition of meteorological data gathered by a dedicated weather station. A number of additional firms of consultants were engaged to progress the mining prefeasibility studies in their applied fields of specialisation. A meeting was held in July 2015 at the offices of the DSD, with attendees from both DSD and DEWNR, to discuss prospectivity and conservation value of six separate proposed conservation parks; Frahns, Boundary Road, Cromer, Monarto, Browns and Narrinyeri Hills, all of which impinge wholly or markedly into Terramin's subject mineral exploration licences. Terramin had previously specifically reviewed the mineral prospectivity in these proposed conservation parks, to inform the meeting, and had raised strong objections (documented herein) against allowing four of them to be granted. At the end of the meeting, Jason Irving of DEWNR stated that creating a dual proclamation for the parks would be giving Terramin “false hope” about being able to continue to explore these places. Terramin is still waiting to hear on the outcome of the meeting. During the fourteenth, 2015-2016 project year, Terramin continued to focus on Bird-in-Hand (resource upgrade, geotechnical, mine design, environmental and hydrological studies), Kapunda, Deloraine, Murray Basin, and the compilation of historic data and assessment of historic mines. Thirteen diamond cored holes for 2206.1 m were drilled at Bird-in-Hand (BH047 - 059) to provide hydrological, geotechnical and metallurgical data about the gold deposit to enable Terramin to progress with underground mine planning. Several high-grade intercepts were reported from several holes including: in BH054 from 192.9 m, 5.8 m @ 37.43 g/t Au; in BH056 from 187.0 m, 8.0 m @ 26.90 g/t Au; in BH057, 7.4 m @ 41.64 g/t Au, and in BH058, 1.2 m @ 48.06 g/t Au plus 7.4 m @ 41.64 g/t Au. Two auger holes for a total of 1 m were also drilled at Bird-in-Hand (BHAUG001-002). On 8/8/2016, a revised Bird-in-Hand Indicated plus Inferred Mineral Resource estimate of 588 kt @13.3 g/t Au, for 252,000 oz of contained gold, was released to the Australian Stock Exchange. Just over one-third of the total resource, delineated by recent denser -spaced drilling of the deeper lodes, had now been assigned to the Indicated category. To progress the Bird-in-Hand mining feasibility studies, Terramin engaged several consultants who performed the following studies: • Ammjohn - Conveyor concept report • Mining One - Final Bird-in-Hand geotechnical investigation site visit, and Bird-in-Hand geotechnical assessment • MultiGrout - Groundwater control grouting pattern design • Student – Slava Zhukovskiy – BIH Mine Ventilation Study - June 2016 • Student – James Baylis - MobileMine Equipment Selection Study – Terramin Australia - July 2016 WIP • Tonkin - Transport assessment reduced (002), and Stormwater Management Plan. Ongoing compilation of historical data, and the assaying of selected samples of stored historic drill cores held by the SA State Core Library, saw cores of 8 holes scanned as a first pass with the pXRF spectrochemical instrument (264 readings), and new laboratory assays and petrological studies performed. Surface samples were collected from around the Bird-in-Hand and Giles Creek areas. 113 pXRF scan readings were taken (on samples comprising rock chips, soil and stream sediment) and 14 samples were submitted for laboratory assay work. Terramin continued to collect baseline environmental data from the around Bird-in-Hand for informing the regulatory approval process. Several small geophysical surveys, involving a combination of ground magnetic and EM methods, were collected by TAFE SA geoscience students at Brind (400 m west of Bird-in-Hand) and Kapunda, utilising a CMD electromagnetic conductivity meter. However, once again Terramin reported that this instrument appeared to have malfunctioned during some parts of the surveys’ coverage. Data from the 2010 Fleurieu - Gawler VTEM survey were reprocessed by Stephen Mudge of Vector Research Pty Ltd. Work on identifying additional sources of ore for treating at the Angas Zinc Project ore processing plant, and the review of the project area's copper mineralisation potential, are ongoing, with the review’s progress to date reported in detail herein. During the 2016-2017 project year, again Terramin’s primary focus was on the Bird-in-Hand Gold Mine and working towards submitting a mining lease proposal. Multiple consults were engaged to identify the best way to develop the project while taking in the local community, viniculture and agricultural activities and remnant native vegetation concerns. Work in the reporting period has focussed on community, metallurgical, geotechnical, mine design, environmental and hydrological studies. An Induced Polarisation (IP) survey was undertaken over Goldwyn (Bird-in-Hand), to map out the extent of secondary sulphides identified in the 2016 geotechnical drilling and to see if Brind and Blackbird mineralisation (associated with sulphides) could be identified beneath the secondary sulphide blanket. Progress was made on the in-situ leach potential on the Kapunda tenement, on the Murray Basin tenements, and on the compilation and assessment of historical exploration and mine data. Significant outcomes the data compilation has been the greater understanding of control of gold and copper mineralisation in the Adelaide Hills and the potential for porphyry copper gold mineralisation beneath the Western Murray Basin. In October 2016 Terramin was approached by First Quantum Minerals Ltd (FQM) looking to undertake a regional evaluation of the Adelaide Rift for sediment hosted copper. Under a confidentiality agreement Terramin provided Terramin’s database and allowed FQM full access to Terramin’s tenements. Sampling was undertaken by FQM from October to November 2016 and the results of their work provided in February 2017. In August 2017 Terramin announced that it had entered a joint venture with Environmental Copper Recovery Pty Ltd (ECR) to investigate the potential to extract copper through in-situ recovery (ISR) from the shallow mineralised halo around the historic Kapunda Mine workings. This work appears to be well accepted by the community. Terramin also has another third party currently undertaking “due diligence” on the eastern tenements that cover the central portion of the Padthaway Ridge. The confidentiality agreement prohibits the mention of their company name until a JV is formalised or they walk away. TAFE SA geoscience students collected ground magnetic (Adrian Williamson) data and surface samples (Lea Hodge) at Eureka (Woodside) and Sunter (Strathalbyn). No new drilling was undertaken during the reporting period, however the results for the previous years Bird-in-Hand auger geochemistry was received. Work was undertaken on drill core from the Kapunda and Murray Basin projects stored at the South Australian Drill Core Reference Library included collection of density measurements, fracture mapping, and the validation of existing assay data through visual inspection and pXRF analysis. In April 2017 the Department of the Premier and Cabinet, in collaboration with the Environment Protection Authority and Department of Environment, Water and Natural Resources published a Ministerial Determination specifically for a mining lease application for the Bird-in-Hand Gold Project. The Ministerial Determination was gazetted in the South Australian Government Gazette on 5th April 2017. The Determination specifies information that must be provided in a mining lease application and includes key information to be obtained from in-depth studies on the interaction between a potential mine and groundwater, local businesses, and the community. Terramin are also required to openly engage with all stakeholders (i.e., interested members of the public, local businesses etc.) when developing the mining proposal. Detailed evidence of all engagement activities must be provided along with an appropriate response to issues raised. All requirements of the Ministerial Determination must be provided in the mining lease application submitted by Terramin before it will be accepted. During the period Terramin relinquished tenements EL 5356 (Currency Creek) and EL 5784 (Langhorne Creek) to meet statutory relinquishment requirements. During the 2017-2018 reporting period Terramin’s primary focus was primarily on working towards submitting a mining lease proposal for the Bird-In-Hand Gold Project. In 2017 the Department for Energy and Mining (DEM) requested that the company undertake a Managed Aquifer Recharge (MAR) trial prior to lodging the mining lease application to demonstrate that MAR was a suitable method to manage groundwater in the area. The company was granted permission by DEM and the Department for Environment and Water (DEW) to drill three sets of paired reinjection and monitoring bores. Permission to use the bores (pump water from one bore and let it drain down the other) was not given during the period. The six open hole percussion holes had a total length of 637 m, eighteen samples were submitted for laboratory analysis. Two of the water bores intersected a quartz reef along strike from the historic Brind Mind, which returned results including BHMB001 from 45 m 2 m @ 1.9g/t Au and BHRIB001 from 46 m, 1 m @ 1.1 g/t Au. Terramin continued to undertake extensive environmental studies at the Bird-In-Hand project and to investigate how to avoid/minimise potential negative impacts of the operation. In February 2018 the company announced an Inferred Resource estimate of 47.4 million tonnes grading 0.25% Cu containing 199,000 tonnes of copper for the Environmental Copper Recovery Pty Ltd JV in-situ recovery from the historic Kapunda Mine workings. See included report produced by Environmental Copper Recovery for the first year of work undertaken at Kapunda. The evaluation of areas elsewhere in the broader project area has continued with the compilation of historic data, XRF analysis of surface (Kapunda) and drill hole samples and the collection of environmental samples for analysis. During the period Terramin relinquished tenements EL5985 (Hartley) and EL 5252 (Kinchina) to meet statutory relinquishment requirements.