Proactiveinvestors Australia

Gullewa Project


Gullewa Tenements South Murchison, WA
Project Highlights:

- The project contains substantial existing resources totaling 650,000oz Au and 25,000 tonnes of copper including Measured and Indicated Resources of 230,000oz Au and 17 000 tonnes Cu

- There is significant potential through near mine exploration to increase these resources

- Infrastructure includes 300kt pa mill, camp, offices and other facilities

- One of the most prospective tenement holdings in the WA goldfields

- Significant pre-approvals, agreements and permits in place to commence mining

- The tenements contain significant Iron potential

About Gullewa

Gullewa is a mining centre located 450km north of Perth WA and 160km east of the port city of Geraldton.
Figure 1: Gullewa Project Location Map

The Project contains one relatively undeveloped mine (Deflector), 5 partially mined open pits, at least 5 areas of historical underground workings and numerous untested soil geochemistry, gravity and aeromagnetic anomalies.

Existing infrastructure includes a 300kt pa mill, extensive water bore fields and tailings facilities with ready capacity. The camp contains wet and dry mess and accommodation for 40 workers. The office and workshop facilities are extensive. In addition, a fully operational power station on site and haulage roads in good condition.



For more information about Gullewa Project click here

Deflector Deposit

Within the North Eastern part of the Gullewa Project South Murchison, WA


Deflector Deposit Gold/Copper Target

- 2.5 million oz of Gold (range 1.65m to 2.5m oz Au) and 40,000 to 80,000 tonnes of Copper

Three Stage Program:
1. Along strike
Open pitable of 2 to 4Mt of mineralisation grade 3-5g/t Au and 0.5 to 1%Cu for an additional 250,000 to 500,000 Au and 20,000 to 50,000 tonnes Cu.

2. Below 160m (RL) to 500m (RL)
Down plunge target of the order of 1 to 2.5Mt at 5 to 8g/t Au and 0.5 to 0.7% Cu for an additional 300,000 to 450,000 oz Au and 6,000 to 12,000 tonnes Cu situated between 120m and 500m from surface.

3. Below 500m to 1,000m
2.5 to 4Mt at grades between 5 and 8 g/t Au and 0.5 to 0.8% Cu for 500,000 to 1,000,000 oz Au and 18,000 tonnes Cu

For more information about Deflector Deposit click here

Beyond Deflector

Mutiny will commence exploration outside the Deflector corridor where significant anomalies have been identified.


In the planned exploration program the Company will test two of those anomalies:

 -  Spanish Galleon; and
 -  Pieces of Eight

The programme will consist of:

 -  RC and Diamond drilling
 -  Geophysics; and
 -  Geo Chemistry

White Well Project


Tuckabianna District Murchison Region, WA

Project Highlights:

- Scoping Study completed

- 113,000oz Au resource

- Mineralisation open at depth

- Financially robust

The White Well Project, located in the Tuckabianna Greenstone Belt about 30km east of the historical mining centre of Cue in the Murchison region of WA was acquired by Mutiny in 2008 via a farm-in agreement and the Company holds an interest in excess of 85%.

The total estimated resources are 113,000oz gold comprised of 91,000oz free-digging oxidised Indicated Resource (4.2m @ 0.67g/t) and 22,000oz Inferred Resources (0.3Mt @ 2g/t for 20,000oz of transition mineralisation and 0.07Mt @ 1 g/t of oxidised material in stockpile for 2,000oz).

Part of this project's success will lie in the free-digging nature of the ore. The majority of the gold at White Well occurs in vein quarts, which occurs within a deeply weathered granitiod. It is the deep weathering nature of the ore that allows for the majority of the deposit to be free-digging which negates much of the expensive drill and blast in conventional mines.

Metallurgical test work by Allan R.G Brown and Associates indicate that trommelling of the ore in assocation with a Knelson Concentrator would recover more than 90% of the gold bearing quartz. Gold recoveries from a CIL plant would be in excess of 98%. An overall recovery of approximatley 90% is expected.

The Company’s plan for unlocking the value of White Well includes open pit mining then trucking an ore concentrate of 8g Au /t to Gullewa for processing.

Widgie South Project

Widgiemooltha Nickel District, WA

Project Highlights:

- Strong mineralization potential

- World class nickel sulphide producing location

- Three known nickel sulphide deposits in close proximity -

- TEM surveys have indicated the presence of a conductor with an intensity similar to conductors associated with known nickelmineralisation

-George’s Anomaly confirmed to have steep dip within Mutiny tenement;

Mutiny has a farm-in agreement to earn a 51% interest in the highly prospective Widgie South Prospect. Once the 51% has been earned, the Company retains the right to acquire the balance of the Project for $700,000.



For more information about Widgie South Project click here

Brandy Hill Iron

Project Highlights:


The Company has identified a potential for hematite and magnetite ore production at Gullewa; there exists significant drill intersections at Rocksteady and Brandy Hill and the area contains extensive unexplored BIF units.

The Company is currently completing a review of the Iron potential at Gullewa.

The Brandy Hill Iron project has proximity to infrastructure (170 km from the port, 50km from the main road, and 35 km from the gas pipeline) and other Midwest Iron Projects in its favour.

Frank Lawson
Appointed 26 May 2003

Chairman

Frank LawsonDr Frank Lawson is a Chemical Engineer by training. He received the academic qualifications of ASTC (from the Sydney Technical College), BSc (from the University of New South Wales) and PhD and DEng (from Monash University). He is a Fellow of the Australian Academy of Technological Sciences and Engineering, a Fellow of the Institution of Chemical Engineers (UK) and a Fellow of the Australian Institute of Mining and Metallurgy.

Dr Lawson has worked in the Chemical and Mining Industries for many years. He now provides consultancy services in chemical engineering.


John Robert Greeve
Appointed 9 February 2005

Managing Director

John Robert Greeve As Managing Director, Mr Greeve took the Company to a successful listing on the Australian Securities Exchange on 10 July 2006. Recently, he led the Company’s investment into the White Well Project and was instrumental in the further capital raising.

Mr Greeve has a Bachelor of Business (Accounting) degree from Edith Cowan University. He is a Chartered Accountant, Certified Practicing Accountant, Fellow of the Taxation Institute of Australia and Tax Agent. He has 24 years experience in public practice and is currently the senior partner at the firm of Jackson Greeve, providing business advisory services. As a professional accountant, he has been involved with a wide range of industries. In particular, since the mid-1980s, he has been involved in providing financial, taxation and secretarial advice to a number of public mining companies. Mr Greeve also acts as Australian agent for USA Investment Fund, Cornell Capital Ltd and has assisted their investment in several mining companies.


Allan Richard George Brown
Appointed 21 July 2003

Non-Executive Director

Allan Richard George BrownMr Brown is a Metallurgist with over 40 years experience in a range of Australian metallurgical operations including base metals, refractory gold and diamonds. Mr Brown was the Resident Mine Manager of the Golden Grove Copper-Zinc mine from the start up in 1988. In 1993, he joined Wiluna Mines as the Resident Mine Manager of the Wiluna Gold Mine.

In 1998, he formed Allan R.G. Brown and Associates, a metallurgical consulting business and since then has provided metallurgical consulting services to companies in Australia, Sweden, Finland, Uganda and China.


Benedict Kusni
Appointed 27 January 2006

Non-Executive Director

Benedict Kusni Mr Kusni has spent more than 18 years in funds management with various institutions in South East Asia and his previous roles include research, key financial calculations and quality control on comparables analysis of various industries and companies for pre-merger and acquisition target screening. He has considerable expertise in corporate finance matters; he has contributed to the depth analysis and intensive profiling of numerous industries for the equity research divisions of several major investment banks.

Mr Brown has a BSc (Hons) in Metallurgy from the University of NSW, is a Fellow of the Australasian Institute of Mining and Metallurgy, a Chartered Professional (Metallurgy) and a Member of the Mineral Industry Consultants Association.


Cecilia Tyndall
Appointed 27 September 2004

Company Secretary

Cecilia TyndallMrs Tyndall has over 15 years experience working as an accounting and finance professional in public practice, publicly listed companies and other private organisations. Roles include responsibilities as a company secretary, financial controller and advisor to the Board and senior management. She is a member of Chartered Accountants Australia and Chartered Secretaries Australia.

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