SCORPION MINERALS LIMITED

Planned Exploration programme includes:

1. Airborne detailed photography and magnetics
2. Detailed Geological mapping
3. Rock chip sampling
4. RC drill testing (~1000 m programme) of targets identified

Two target areas have been identified in or adjacent to the Weld Range at Iron Ridge Extension and Ulysses on E20/948, and a third at Milliwarrie in the south of the Pharos project area on E20/953.

Iron Ridge Extension has been identified through interpretation of available air magnetic surveys that have highlighted a southwestern extension of the favourable iron formation stratigraphy.

The Ulysses target has resulted from the interpretation of historic Air Core, RC and Diamond drilling targeted at gold and base metal geochemical anomalies that also intersected significant widths of weathered Banded Iron Formation beneath an area of cover to the south of the Weld Range.