Australian Exploration

MRC, via its wholly owned subsidiary, MRC Exploration Australia Pty Ltd (MRCEA), holds interests in mining tenements and mining tenement applications. The Company is targeting lithium (Mount Edon) and gold (Doolgunna Prospect).

Doolgunna – Gold

MRCEA has the right to acquire up to a 90% interest in the Doolgunna Prospects in the Mid West Region through farm-in option agreements over a granted exploration licence covering approximately 62km2. The Doolgunna area is highly prospective for near surface stockwork gold mineralisation with historical workings located along strike of the DeGrussa copper mine within the Narracoota Volcanics and spatially associated with the Goodin Fault.

Mount Edon – Lithium/Tantalum

MRCEA has the right to acquire up to a 90% interest in the tenement package. The Mount Edon Prospect consists of a granted mining lease located in the Mid West Region near Paynes Find. The tenement package is within an area of known lithium/tantalum-rich pegmatites in Western Australia. The Mount Edon felsic pegmatites suite is located just southeast of Paynes Find.