Red Sunset

WESTERN AUSTRALIA

Gascoyne Resources Limited 100%

Murchison Project - Tenement Location Map

Pegging of open ground. 6 new tenement applications made.

Three applications are located at the northern end of the Big Bell greenstone belt.

One application covers the central part of the Tuckanarra gold mining centre.

Further south an application is located approximately 20 Km south of the Hill 50 gold deposits at Mount Magnet.

WESTERN AUSTRALIA

Gascoyne Resources Limited 100%

Higginsville Project - Tenement Location Map

Pegging of 7 tenement applications on open ground.

Located at the southern end of the Widgemooltha Dome that hosts extensive nickel deposits currently being mined by Mincor Resources and significant gold deposits in the area including Chalice to the south and Higginsville.

Of particular interest within E15/1280 is the Footes Find gold deposit that was explored by Resolute-Samantha in the late 1980s and early 1990s.

Subsequently gold production was undertaken from a shallow open pit as a satellite operation to the Higginsville operation.

WESTERN AUSTRALIA

Gascoyne Resources Limited 100%

One tenement along strike from Sherlock Bay Nickel deposit (25Mt @ 0.4% Ni for 101,300t of contained Nickel) was discovered to have been dropped.

A 20 block exploration license has been applied for covering the area.

Grant expected late 2011.

WESTERN AUSTRALIA

Gascoyne Resources Limited 100%

North Perth Basin - Tenement Location Map

A review of coal prospectively in the area around Mullewa highlighted potential in the area for new coal discoveries. The area was open ground so a large (200 block) tenement was applied for.

It covers the northern portion of the Irwin terrace which hosts the Irwin Coal deposits (~1.1Bt of low grade coal).