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Update on Merger with Polymetals - Notice of Meeting

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BDO CORPORATE FINANCE (WA) PTY LTD<br />

<strong>Polymetals</strong> Mining Limited and Southern Cross Goldfields Limited<br />

Technical Specialist's Report<br />

Tenements and Expenditure by M<strong>on</strong>th<br />

Type Number Project Registered Holder Date<br />

Granted<br />

Date<br />

Expiry<br />

Annual<br />

Expenditure<br />

Annual<br />

Rent<br />

Ha Blocks ($) ($)<br />

M M57/417 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 23/06/1999 22/06/2020 936.10 - 93,700.00 14,429.80<br />

M M57/439 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 8/10/2004 7/10/2025 648.85 - 64,900.00 9,994.60<br />

M M57/529 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 8/10/2004 7/10/2025 997.20 - 99,800.00 15,369.20<br />

M M57/530 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 8/10/2004 7/10/2025 999.00 - 99,900.00 15,384.60<br />

M M57/632 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 15/12/2009 14/12/2030 253.25 - 25,400.00 3,911.60<br />

M M57/68 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 8/02/1988 7/02/2030 638.25 - 63,900.00 9,840.60<br />

M M57/88 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 12/07/1988 11/07/2030 219.85 - 22,000.00 3,388.00<br />

P P57/1091 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 31/01/2007 30/01/2015 165.35 - 6,640.00 373.50<br />

P P57/1092 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 31/01/2007 30/01/2015 197.57 - 7,920.00 445.50<br />

P P57/1095 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 31/01/2007 30/01/2015 151.36 - 6,080.00 342.00<br />

P P57/1108 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 1/08/2007 31/07/2015 23.63 - 2,000.00 54.00<br />

P P57/1109 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 1/08/2007 31/07/2015 21.60 - 2,000.00 49.50<br />

P P57/1110 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 31/08/2007 30/08/2015 73.19 - 2,960.00 166.50<br />

P P57/1114 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 24/06/2008 23/06/2016 73.18 - 2,960.00 166.50<br />

P P57/1115 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 28/03/2008 27/03/2016 51.59 - 2,080.00 117.00<br />

P P57/1116 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 24/06/2008 23/06/2016 23.80 - 2,000.00 54.00<br />

P P57/1117 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 24/06/2008 23/06/2016 80.34 - 3,240.00 182.25<br />

P P57/1118 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 24/06/2008 23/06/2016 70.68 - 2,840.00 159.75<br />

P P57/1119 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 24/06/2008 23/06/2016 3.25 - 2,000.00 22.50<br />

P P57/1121 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 11/06/2008 10/06/2016 70.74 - 2,840.00 159.75<br />

P P57/1122 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 28/03/2008 27/03/2016 40.64 - 2,000.00 92.25<br />

P P57/1203 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 21/02/2008 20/02/2016 168.00 - 6,720.00 378.00<br />

P P57/1204 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 21/02/2008 20/02/2016 118.00 - 4,720.00 265.50<br />

P P57/1206 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 28/03/2008 27/03/2016 34.68 - 2,000.00 78.75<br />

P P57/1209 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 28/03/2008 27/03/2016 108.06 - 4,360.00 245.25<br />

P P57/1210 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 11/06/2008 10/06/2016 100.06 - 4,040.00 227.25<br />

P P57/1220 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 16/04/2008 15/04/2016 48.00 - 2,000.00 108.00<br />

P P57/1221 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 28/03/2008 27/03/2016 46.00 - 2,000.00 103.50<br />

P P57/1222 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 28/03/2008 27/03/2016 43.00 - 2,000.00 96.75<br />

P P57/1224 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 16/04/2008 15/04/2016 32.00 - 2,000.00 72.00<br />

P P57/1225 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 28/03/2008 27/03/2016 95.00 - 3,800.00 213.75<br />

P P57/1229 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 16/04/2008 15/04/2016 21.59 - 2,000.00 49.50<br />

P P57/1230 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 16/04/2008 15/04/2016 25.80 - 2,000.00 58.50<br />

P P57/1235 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 8/09/2009 7/09/2013 199.66 - 8,000.00 450.00<br />

P P57/1236 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 29/07/2009 28/07/2013 131.67 - 5,280.00 297.00<br />

P P57/1237 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 29/07/2009 28/07/2013 84.31 - 3,400.00 191.25<br />

P P57/1246 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 10/08/2010 9/08/2014 23.79 - 2,000.00 54.00<br />

P P57/1252 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 10/08/2010 9/08/2014 10.96 - 2,000.00 24.75<br />

P P57/1253 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 10/08/2010 9/08/2014 21.59 - 2,000.00 49.50<br />

P P57/1254 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 17/01/2011 16/01/2015 16.75 - 2,000.00 38.25<br />

P P57/1255 Sandst<strong>on</strong>e Southern Cross Goldfields Ltd 17/01/2011 16/01/2015 21.61 - 2,000.00 49.50<br />

E E77/1459 Windarling East Polaris Metals Pty Ltd 3/05/2011 2/05/2016 14,100.00 47 47,000.00 5,334.50<br />

E E77/2018 Windarling East Southern Cross Goldfields Ltd 11/12/2012 10/12/2017 2,400.00 8 20,000.00 933.60<br />

P P77/4170 Windarling Peak Southern Cross Goldfields Ltd - - 134.40 - - -<br />

P P77/4171 Windarling Peak Southern Cross Goldfields Ltd - - 200.00 - - -<br />

E E77/1353 Windarling Peak Polaris Metals Pty Ltd 9/05/2008 8/05/2013 2,700.00 12 30,000.00 1,588.50<br />

E E77/1462 Windarling Peak Polaris Metals Pty Ltd 3/05/2011 2/05/2016 21,000.00 70 70,000.00 7,945.00<br />

E E77/1275 Yilgarn Ir<strong>on</strong> Ore Polaris Metals Pty Ltd 1/05/2008 30/04/2013 2,400.00 34 30,000.00 1,412.00<br />

E E77/1380 Yilgarn Ir<strong>on</strong> Ore Polaris Metals Pty Ltd 19/05/2011 18/05/2016 1,200.00 4 15,000.00 454.00<br />

P P77/4185 Southern Cross Goldfields Ltd - - 191.71 - - -<br />

P P77/4186 Southern Cross Goldfields Ltd - - 172.00 - - -<br />

P P77/4187 Southern Cross Goldfields Ltd - - 196.33 - - -<br />

Area<br />

1.<br />

2.<br />

3.<br />

4.<br />

5.<br />

6.<br />

Explorati<strong>on</strong> Licence WA<br />

Prospecting Licence<br />

Mining Lease<br />

Miscellaneous Licence<br />

General Purpose Lease<br />

Retenti<strong>on</strong> Lease<br />

Appendix E-5

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