31 October 2013 ASX Limited Company Announcements Office SYDNEY NSW 2000

QUARTERLY ACTIVITIES REPORT FOR PERIOD ENDING SEPTEMBER 30th 2013

HIGHLIGHTS Selaup Gold Project

To date 13 diamond drill holes have been completed for a total of

1545.95 metres.

Drilling has confirmed that mineralisation appears to be confined to

the sandstones where fractures and faults contain elevated levels of

gold, silver, copper, lead and zinc.

The altered sandstones occur in a zone approximately 800 metres

long by about 250 metres wide and hosts all the artisanal mines.

The latest drill holes (12SD022 and 12SD024) intersected un-

mineralised, hydrothermally altered breccias or fault zones.

The first Selaup drilling campaign has now finished and personnel

and equipment have been demobilized and a review of all exploration

data is now underway before planning the next stage.

Recently received assays from alluvial samples using cyanide leach

technique indicate that a portion of the north-draining alluvial area at

Selaup is prospective over about 1.5 kilometres in length.

Intertek Laboratory, Jakarta confirmed grades of between 0.10 g/m3

and 1.98 g/m3 with an average of 0.44 g/m3 over 1.5 kilometres.

A program of 5.1 line kilometres of follow up pit sampling and

mapping to identify volumes and layers of the mineralized alluvium is

planned.

Sintang Gold Project

Contract geologists are completing a mapping program around the

location of gold anomalies in the western part of the tenement over

an area about 6.5 kilometres by 4.25 kilometres in size

Queensland Coal

Exploration is continuing in the Gayndah area and Exploration Permit

application EPC2265 (located immediately west of EPC2044 coal

resource area) has now been granted.

Preparation work on the drilling and assay database for resource

estimation on EPC 2044 has begun. It is expected that the resource

estimation will be finished next quarter.

WAVENET INTERNATIONAL LIMITED ABN 50 087 139 428

Wavenet International is a new exploration company with a portfolio of coal tenements in Queensland as well as gold and polymetallic concessions in West Kalimantan, Indonesia. Update Selaup Gold Project, West Kalimantan showed initial samples from workings returning up to 53 g/t Gold, 39 g/t Silver, 2.9% Lead and 0.6% Zinc within epithermal vein systems in sediments and andesite intrusives. 13 diamond drill holes have been completed in this complex setting to date. Logging reveals repeated sulphide-rich zones and altered andesite sills. Hydrothermal breccia zones recently intersected do not appear to be mineralized. The inaugural drilling campaign has been completed and results are being assessed before further drilling is planned.

Sintang Gold Project, West Kalimantan is within sediments and andesite/ diorite intrusions. Epithermal quartz veins host Gold, Silver, Lead and Zinc minerals as seen in several workings. Soil sampling on this concession revealed many Gold anomalies, with some assays returning up to 1.68 g/t Gold. Mapping is continuing in the western area in order to identify drill targets.

Registered Office: 45 Quarry Street FremantleWA 6160 Telephone: (08 9435 3800) Directors & Management Chairman Mick Stroud Directors Laurie Holyoak Gregg Freemantle Company Secretary Laurie Holyoak Geological Consultants Geologica Pty Ltd

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SELAUP PROJECT The Selaup Project is situated approximately 50 km south-west of Putussibau, in the Kapuas Hulu district of northern part of West Kalimantan Province. The geological setting of the area comprises stratigraphic units and structures that have been conducive for the formation of oxide and primary gold mineralization. There are several shafts and adits into the hillsides and several sub-horizontal veins are being mined. The waste dumps around the workings contain galena, arsenopyrite, pyrite and minor chalcopyrite.

Figure 1 – Location Map for Selaup Project

Drilling to date has proven that the geology is more complex than initially understood and that several faults

oriented approximately North-South displace the andesite and sediment units up to 200m in the vertical

plane. The presence of “horst and graben” structures (fault-bounded uplifted and downthrown blocks)

suggests that there is a strong structural control on the location of mineralization.

Detailed mapping and exploration drilling of the artisanal mining area has confirmed that mineralization

occurs in flat-lying clay horizons through sandstones as well as in steeper structures, probably inclined

faults, orientated on a NW-SE strike confined within the N-S graben faults.

Drill holes 12SD22 and 12SD24 were completed to test fault zones thought to be conduits responsible for mineralising the artisanal gold mining area. The recovered core intersected several cataclastic breccia zones showing strong sericite and quartz hydrothermal alteration with minor pyrite. Assays to date indicate that these zones of structural disruption are not mineralised. When all assays are returned a review of all the drilling and rock chip data will be completed. Demobilisation of manpower and equipment from Selaup drilling campaign has been completed. In the interim period this first drilling campaign at Selaup has finished and planning for the next phase of exploration will continue. An alluvial mapping program is in progress and 190 samples have now been collected from the alluvial

deposits in the drainage system in the western half of the concession. Approximately 75 samples showed

visible gold during panning (39.7%). The main area of interest is in the north-western part of the concession

where assay results from Intertek Laboratory, Jakarta confirmed grades of between 0.10 g/m3 and 1.98

g/m3 with an average of 0.44 g/m3. Samples were taken at an average depth of 0.38m from surface. This is

part of an ongoing investigation of potential areas for alluvial mining. See maps on Figure 2 and Figure 3.

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Figure 2 - Alluvial Sampling Map. Yellow crosses represent samples containing visible gold in panning

The next stage is to test the potential for alluvial mining by sampling the area in more detail using lines of pits at 100m line spacing and dug at 25m intervals on lines. This will establish whether:

There are multiple gold-bearing layers

There is a consistent depth for mining

There is a consistent gold distribution within layers

Figure 3- Alluvial Sampling Map. Yellow area and lines represent location of detailed sampling by pits

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SINTANG PROJECT The Sintang Project is situated approximately 250km east of Pontianak, in the Sintang Regency of the central part of West Kalimantan Province. The geological setting of the area comprises stratigraphic units and structures that have been conducive for the formation of oxide and primary gold and silver mineralization. The Sintang Project also has excellent indications of polymetallic mineralization from the exploration work so far completed. The reconnaissance work confirmed that gold-bearing ores were present within an epithermal mineralizing environment throughout the area of workings.

As a result of a geochemical survey using a 400m grid over the entire concession geochemical anomalies for gold, silver, copper, lead, zinc, arsenic and barium were identified. This indicated several zones of coincident metallic anomalies, particularly on the western part of the concession and formed the basis for ongoing target definition. Target areas have been identified for detailed mapping of the gold and copper anomalies. The first mapping area is 6.5 by 4.25 kilometres (over 27 square kilometres) in area as seen on Figure 4. Mapping and sampling work is currently ongoing and is being completed by contract geologists.

Figure 4 – Mapping Area at Sintang (approximately 6.5km x 4.25km)

Comment It is common practice for a company to comment on and discuss its exploration in terms of target size and type. In addition surface sampling assays and drill sample results may also be discussed in the context of information describing the presence of anomalous mineral content. The above information relating to an Exploration Target should not be misunderstood or misconstrued as an estimate of Mineral Resources or Mineral Reserves. Hence the terms Resource (s) or Reserve(s) have not been used in this context. The potential quantity and grade is conceptual in nature, since there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the determination of a Mineral Resource. Declaration The information in this statement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by independent consulting geologist Brian Davis who is a Member of The Australian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr Davis is employed by Geologica Pty Ltd and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which is undertaken to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Davis consents to the inclusion in the report of the matters based on the information made available to him, in the form and context in which it appears”.

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