quarterly report june 2013 final · 496 497 1.0 0.07 1.64 2.66 6.2 0.02 504 505 1.0 1.17 0.04 0.26...

30 June 2013

JUNE 2013 QUARTERLY REPORT AND STATEMENT OF CASHFLOWS

About TriAusMin (ASX:TRO) (TSX:TOR) TriAusMin Limited (“TriAusMin”) is an Australian development-stage base and precious metals company focused on near-term production and future growth. The Company has a significant land holding in the Lachlan Fold Belt mineral province of New South Wales. Its Woodlawn Project near Goulburn holds the majority of the Company’s mineral resource assets. The Company also maintains a portfolio of advanced and early stage exploration prospects, including the Lewis Ponds polly-metallic prospect, located near Orange.

The Company has 11.2 million tonnes (Mt) of JORC compliant Proven and Probable Ore Reserves1,2(c) at the Woodlawn Retreatment Project and a further 16.7 Mt of JORC compliant Mineral Resources1,2(b)(c) at Woodlawn (10.1 Mt) and at Lewis Ponds (6.6 Mt). The in situ metal value of the Company’s resource portfolio is dominated by zinc and copper with the balance attributable to lead, gold and silver.

TriAusMin Limited ABN 22 062 002 475

Phone (61 2) 9299 7800 Fax (61 2) 9299 7500 [email protected]

Canadian contact: Phone 1 905 727 8688

[email protected] www.triausmin.com

_______________________________________________

STATE GOVERNMENT PROJECT APPROVAL AND NEW HIGH GRADE MINERALISATION

DISCOVERED AT WOODLAWN ___________________________________________________

HIGHLIGHTS WOODLAWN

On July 4th 2013 the NSW Department of Planning and Infrastructure approved the development of the Woodlawn Project covering both the Tailings Retreatment and the Underground Projects.

New high grade KATE Lens discovery: 32.0m @ 1.8% Cu, 1.2% Pb, 4.6% Zn, 22g/t Ag, 0.6g/t Au from 377m

Including – 9.0m @ 2.0% Cu, 4.0% Pb, 16.1% Zn, 52g/t Ag, 0.8g/t Au from 400m

Drilling continues to confirm high grade deposit extensions to depth:

I Lens - 7.7m @ 3.0% Cu, 0.1% Zn, 7g/t Ag, 0.3g/t Au from 542m 3.0m @ 0.5% Cu, 0.3% Pb, 10.3% Zn, 30g/t Ag, 0.9g/t Au from 507m 3.2m @ 0.4% Cu, 2.0% Pb, 3.3% Zn, 35g/t Ag, 3.0g/t Au from 450m

D Lens - 11.1m @ 0.9% Cu, 3.6% Pb, 8.3% Zn, 61g/t Ag, 0.5g/t Au from 675m

Geophysical conductors identified by downhole pulse EM survey.

EXPLORATION –

Lewis Ponds: EM conductor defined for the historical Mt Nicholas Copper Mine.

Calarie: Lachlan Gold Mine drilling was completed and awaiting assays.

CORPORATE –

Cash was A$1,501,000 at June 30th, 2013.

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June 2013 Quarterly Report

30 June 2013

1. WOODLAWN PROJECT Woodlawn Project The Woodlawn Project comprises the Woodlawn Tailings Retreatment Project, the Woodlawn Underground Project and the Woodlawn Regional Exploration Project. The Woodlawn Tailings Retreatment Project (the “WRP”) is expected to process approximately 11 million tonnes of tailings produced by the former Woodlawn Mine. Processing will produce separate zinc, copper and lead concentrates that contain by-product silver and gold. The WRP’s planned production rate is approximately 1.5 million tonnes per annum with an expected mine life of approximately 7.5 years. All metallurgical test work, engineering studies and financial modeling have been completed with the business case confirming a low-risk mining and processing project with strong economics at long term projected metal prices. The Woodlawn Underground Project (the “WUP”) involves the evaluation of re-establishing underground mining at Woodlawn. The former Woodlawn Mine’s historical production is reported as approximately 13.8 million tonnes at 9.1% zinc, 3.6% lead, 1.6% copper, 0.5 g/t gold 74 g/t silver. The high-grade nature of this deposit and the demonstrated potential to re-establish mining operations makes this a high priority project for TriAusMin. Drilling in 2012 at the WUP confirmed the potential to add resources down-dip to the previously mined ore lenses. The Company has defined an Exploration Targeta of 6-7 million tonnes for a 200 metre depth extension to the former operation based on historical mine production and remaining Resources. The WUP and WRP Projects are attractive on a standalone basis, however, consideration is also being given to developing the two projects at the same time therefore providing significant capital cost benefits, higher production rates and optimal operating flexibility as well as providing enhanced overall economics and a higher return on invested capital for shareholders. TriAusMin’s Woodlawn Regional Exploration Project is aimed at the discovery and delineation of additional base and precious metal resources along strike from the Woodlawn deposit and within 50 kilometres of the WRP/WUP processing infrastructure that would provide either satellite feed opportunities or be developed on a stand-alone basis. The Company’s objective is to re-establish mining operations at Woodlawn and provide long life, sustainable mineral production.

Woodlawn Project Approval - Environmental Assessment (EA)

On the 4th July, TriAusMin was granted final project approval for its Woodlawn Retreatment and Underground Projects from the NSW Department of Planning and Infrastructure (“DPI”) under the Part 3A Major Projects of the NSW Environmental Planning and Assessment Act. The approval sets out the terms for the construction and operation of the Woodlawn Tailings Retreatment Project (“WRP), and re-establishment of underground mining operations at Woodlawn.

a The Exploration Target is conceptual and, to date, there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. The Exploration Target assumes the continuation of down dip mineralisation and is based on the historical mine production (13.8Mt @ 9.1% Zn, 1.6% Cu, 3.6% Pb, 74g/t Ag & 0.52g/t Au) and the remaining Measured, Indicated & Inferred Resource (10.1Mt @ 10.2% Zn, 4.0% Pb, 1.8% Cu, 84g/t Ag & 0.51g/t Au) to the 2150mRL.

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Woodlawn Underground Project

On January 31st 2013, TriAusMin commenced a diamond drilling program that formed the next phase of exploration of the high grade Woodlawn Underground Mine. The drilling program was completed during the June quarter. Drilling results from this program included: KATE Lens (New Discovery) - 32.0m @ 1.8% Cu, 1.2% Pb, 4.6% Zn, 22g/t Ag, 0.6g/t Au from 377m (WLTD015)

Including – 9.0m @ 2.0% Cu, 4.0% Pb, 16.1% Zn, 52g/t Ag, 0.8g/t Au from 400m

I Lens - 7.7m @ 3.0% Cu, 0.1% Zn, 7g/t Ag, 0.3g/t Au from 542m (WLTD014W1) 3.0m @ 0.5% Cu, 0.3% Pb, 10.3% Zn, 30g/t Ag, 0.9g/t Au from 507m (WLTD017) 3.2m @ 0.4% Cu, 2.0% Pb, 3.3% Zn, 35g/t Ag, 3.0g/t Au from 450m (WLTD017W1)

D Lens - 11.1m @ 0.9% Cu, 3.6% Pb, 8.3% Zn, 61g/t Ag, 0.5g/t Au from 675m (WLTD014W1) In 2012 TriAusMin carried out a drilling program to expand the high grade resources at the past producing Woodlawn Mine. This program successfully extended the high grade I, D, J & B sulfide lenses below the existing mine workings and was in support of an Exploration Targeta of 6-7 million tonnes of high-grade mineralisation in the first 200 metres below the existing underground infrastructure. On the basis of the high grade mineralisation intersected in the 2012 drilling program, TriAusMin initiated a 2900 metre drill program designed to assist in expanding the resource base, establish the continuity of I & D lenses and to test a new geophysical anomaly which was interpreted to represent a new sulfide lens in the area immediately adjacent to the existing mine workings. A total of 3,091.5 metres were drilled in 7 holes consisting of WLTD013, WLTD014, WLTD014W1, WLTD015, WLTD016, WLTD017 and WLTD017W1 (see Figures 1 & 2). Significant results from the program are summarised in Table 1. Table 1: Significant mineralised intercepts in drill holes WLTD014, WLTD014W1, WLTD015, WLTD017 and WLTD017W12a.

WLTD014 From

m To m

Interval m

Cu %

Pb %

Zn %

Ag g/t

Au g/t

I Lens 534 540 6.0 1.55 0.02 0.31 4.2 0.23

584 585 1.0 0.12 2.16 3.44 21.7 0.29

D1 Lens 656 657 1.0 0.96 9.71 18.35 93.3 0.91

D2 Lens 665.8 666.7 0.9 1.84 7.25 12.50 154 1.09

WLTD014W1 From

m To m

Interval m

Cu %

Pb %

Zn %

Ag g/t

Au g/t

H/W Zone 522 523 1.0 1.42 0.19 2.15 6.8 0.58

I Lens 542.0 549.7 7.7 3.02 0.02 0.08 6.6 0.28

D Lens 674.9 686 11.1 0.87 3.64 8.28 61.2 0.45

689 690 1.0 0.14 0.18 2.59 4.2 0.12

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WLTD015 From

m To m

Interval m

Cu %

Pb %

Zn %

Ag g/t

Au g/t

266.2 266.6 0.4 2.63 0.10 1.30 13.9 0.32

318.9 319.4 0.5 0.43 2.48 4.51 13.0 0.17

322 323 1.0 0.37 2.02 2.59 9.7 0.15

353 354 1.0 0.20 0.01 4.01 0.6 0.10 KATE Lens

377 409 32.0 1.81 1.15 4.58 21.9 0.58

including 377 398 21.0 1.90 0.04 0.09 9.9 0.52

including 400 409 9.0 2.01 4.00 16.07 52.2 0.84

WLTD017 From

m To m

Interval m

Cu %

Pb %

Zn %

Ag g/t

Au g/t

422 423 1.0 0.24 0.01 3.07 5.9 0.07

452 453 1.0 0.23 0.77 0.75 14.6 0.70

471 476 5.0 1.49 0.05 0.95 10.5 0.86

496 497 1.0 0.07 1.64 2.66 6.2 0.02

504 505 1.0 1.17 0.04 0.26 11.4 0.08

507 510 3.0 0.45 0.32 10.29 30.5 0.94

WLTD017W1 From

m To m

Interval m

Cu %

Pb %

Zn %

Ag g/t

Au g/t

450 453.2 3.2 0.44 2.02 3.25 34.7 2.96

476 484 7.0 1.37 0.01 0.04 5.83 0.20 Note: Intercepts were calculated by the conversion of contained metal multiplied by US dollar metal prices: Zn $2204/t, Pb $2204/t, Cu $8300/t, Au $1,650/oz. and Ag $32/oz. Intercepts were then calculated by using a weighted average lower cut off value of $100 for contained metal, with a maximum of 2m consecutive internal waste. Higher grade intercepts are calculated on a $100 lower cut, with a weighted average value of > $500.

The drilling confirmed the continuity of the I & D lenses up plunge from the high grade mineralisation intersected in the 2012 drill program toward the previously defined resources outlined during the former mining operations. These results add support to the potential for establishing additional resources that could be easily accessed from the existing underground infrastructure and available for mining upon re-accessing the mine workings. The I and D lenses remain open both at depth and along strike where additional resources are expected to be defined. Drill hole WLTD015 tested an electromagnetic conductor identified by a downhole EM survey carried out as part of the 2012 drill program. This anomaly was located in the area adjacent to the old mine workings and had no previous drilling into it. High-grade mineralisation over a significant core length of 32 metres (estimated true thickness of 25.4 metres) was encountered in this drill hole and indicates that a new high grade sulfide lens has been discovered in the immediate area of the existing mine infrastructure (90 to 150 metres from existing underground development drives). The size and ultimate grade of this new discovery remain to be determined, however, a subsequent downhole EM survey of WLTD015 has indicated up and down dip and strike extensions. Should a material resource be defined it would be readily developed for production upon re-accessing the mine and add to the existing significant high grade resources in and around the existing mine infrastructure. F

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Figure 1: 2013 drill intercepts: D and KATE Lenses

Figure 2: 2013 drill intercepts: I Lens

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Holes WLTD013 and WLTD016 were abandoned due to hole trace alignment issues. 2013 Down-Hole Electromagnetic Survey The down-hole EM survey of WLTD012 in 2012 identified the geophysical conductor that resulted in the discovery of the KATE lens and confirmed that pulse EM surveys are an important exploration tool at Woodlawn. This method was again used to survey holes WLTD013, WLTD14W1 and WLTD015 from the 2013 drilling program and a number of conductors spatially associated with the I and D Lenses were identified by these surveys. The survey of WLTD015 (KATE Lens discovery hole) indicated that this new lens has both strike and up/down dip extensions which is considered prospective for the establishment of a resource. The newly identified geophysical conductors from this 2013 survey will assist in targeting for further drilling. Woodlawn Regional Exploration Project Cullarin Joint Venture (EL 7954, TRO 68.2%, Golden Cross Resources 31.8%) The Cullarin JV comprised of EL 7954 is centred 20 km due west of Goulburn and is the northernmost tenement within the Company’s Woodlawn Regional Exploration Project (Figure 3). The tenement covers a belt of NNW trending Silurian felsic volcanics and sediments fault bounded to the east by the Lake George Thrust and the Cullarin Thrust in the west. EL 7954 covers at least 30 mineral occurrences, many of which were historical mines (Figure 4). These include the Gurrunda barite deposit, the Wet Lagoon South gold deposit (drill intersections include 148.4 m grading 0.97 g/t gold) and a number of historical iron ore-copper (magnetite-chalcopyrite skarns) mines such as the Breadalbane (B1, B2 and B3) deposits. Within the northeastern portion of the lease, of particular interest is a 3 km long section of the Lake George Thrust that hosts at least 8 historical copper/pollymetallic mines (Figure 4) which have received limited exploration work. This zone corresponds to a large soil geochemical anomaly coincident with a strong IP anomaly, both of which are open to the north and west. Mineralisation here consists of massive and semi-massive chalcopyrite-pyrite in strongly sheared metasediments. Two weeks of reconnaissance mapping and sampling were completed during late June and early July. A total of 95 rock samples were collected during the field work and have been submitted for assay.

Figure 3: Woodlawn Project map showing tenements and major infrastructure

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Figure 4: Map of the Cullarin JV showing mineral occurrences/mines and areas of current work (circled in pink). Background is RTP magnetics and grid is GDA94 MGA Z55.

1. EXPLORATION PROJECTS

Lewis Ponds (EL 5585, 100% TRO)

During the quarter TRO completed work on prospects in the Icely Project area, located within the southeastern part of the Lewis Ponds tenement. This comprised resampling of selected historical drill core from the Williams Lode and mapping and prospecting of the Mount Nicholas Copper Mine. Both are former historical high-grade copper mines.

Williams Lode

A program to test for the potential of shear-hosted, mesothermal gold prospectivity of the copper lodes was undertaken in the Icely area by selecting 1970’s drill core from the Williams Lode for re-samplingi. A total of 58 core samples (sample numbers WRDD800 to WRDD860 excluding WRDD810, WRDD834 and WRDD854, lab batch OR13122210) were taken from core holes WL2, ALP1 and ALP2. ALP1 and ALP2 were drilled by AMAX Exploration in August 1971 and WL2 drilled by Esso in February 1975. A number of elements including gold, silver, arsenic, cobalt, chromium, copper, nickel, lead and zinc were moderately to strongly anomalous. Copper grades were confirmed from previous drilling assays and gold grades overall were subdued. Drill hole intersections are summarised in Table 2.

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Table 2: Summary of drill hole intersections from resampling of historical Williams Lode core holes. (1000 ppm Cu*m cut-off applied, 2 m minimum mining width and maximum internal dilution of 1 m).i

Hole ID From (m) To (m) Interval (m) Cu % Au g/t Ag g/t Zn ppm Comments

WL2 60.00 62.00 2.00 0.01 0.41 1 354 highest Au grade

WL2 171.50 180.50 9.00 1.00 0.07 8 1798

incl. 171.50 175.40 3.90 1.93 0.11 15 3217

incl. 171.50 173.50 2.00 2.77 0.19 23 5247

ALP1 117.65 133.65 16.00 0.45 0.02 4 624 EOH in mineralisation

incl. 117.65 124.66 7.01 0.95 0.03 8 1316

incl. 117.65 119.18 1.53 3.96 0.09 35 4993

ALP2 149.35 157.58 8.23 0.29 0.01 3 570

incl. 149.35 152.22 2.87 0.48 0.02 4 1206

Mount Nicholas Copper Mine

During the June quarter TRO successfully negotiated landowner access to the property that covers the majority of the Mount Nicholas Copper Mine. This mine is one of many in the Icely area and operated in 1888 and then again in 1907. NSW Geological Survey records state that over the mine’s life 4,000 tonnes of ore was mined which yielded 640 tonnes of copper, equating to an average grade of 16 % copper. The mine comprises several shafts ranging from “100 to 200 feet deep” with drives attaining maximum recorded lengths of 140 feet (MR2618). Mt Nicholas was and remains a stand out conductor in the 2010 airborne electromagnetics (AEM) survey and is yet to be drill tested. Two half days of mapping and prospecting focussing on the historical Mount Nicholas workings were completed over this prospect during mid-June.

At the Mt Nicholas Mine, 5 shafts, numerous shallow pits, a prominent adit and a substantial amount of mine waste material were mapped and sampled over a strike length of 250 metres (Figure 5). Additionally a number of small, shallow exploratory excavations and pits occur further north along strike. The workings are sunk on quartz-pyrite-chalcopyrite veins and their weathered equivalents.). A minimum of four veins striking ~330° have been interpreted from the work, three of these (Adit, Road and Footwall (FW) veins) lie within the trough of the VTEM conductor and the fourth (the Hangingwall (HW)) vein occurs east of the main zone (Figure 5).

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Figure 5: Map of the Mt Nicholas Mine workings showing rock sample locations, mapped and interpreted veins and location of the VTEM conductor (trough).

Figure 6: View looking SSE along the Adit Vein from the northern end of the Mt Nicholas Mine.

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Apparent metal associations in the Mt Nicholas Mine rock samples are gold-silver-bismuth-arsenic and cobalt-copper-chromium-lead-zinc. In summary the Adit and Road Veins appear to be well mineralised and the HW vein is weakly mineralised. Selected sample assays are summarised in Table 3. Table 3: Selected rock sample assays from the Mt Nicholas Mine (*Co-ordinates in GDA94 AMG Z55) Sample East* North* Type Method Vein

Au g/t

Ag g/t

Cu % Pb ppm

Zn ppm

Description

LPR1006 712676 6311260 mullock dump

grab HW 0.20 24 0.270 352 305 chl rich, strongly sheared & qtz vnd

LPR1007 712674 6311258 mullock dump

grab HW 0.37 44 0.227 593 901 gossanous qtz vnd material

LPR1008 712619 6311224 mullock float

grab ?Road 0.47 49 4.650 708 1385 gossanous "Fe‐stone", hem‐goe stnd w mn mal‐az


grab ?Road 0.33 16 1.225 1070 494 gossanous qtz vn

LPR1011 712579 6311274 ?subcrop chip NA 0.01 1 0.069 331 556 gossanous, vnd, flt bx, open space infill, ?subcrop, 290 str

LPR1012 712593 6311292 mullock grab ?Road 0.02 1 0.239 752 514 mullock in shallow pit, sild, vughy meta‐volcanic

LPR1013 712594 6311300 mullock grab Adit 0.19 37 1.505 569 729 mullock from shallow pit, gossanous qtz vnd, hem‐goe rich, mn mal‐az

LPR1014 712523 6311398 ?subcrop grab Road 2.53 26 0.563 2150 459 vughy sild, Fe‐ox coated veined FVOL, subcrop or float

LPR1015 712577 6311328 adit wall grab Adit 0.06 1 0.285 258 1740 lode at S end of adit , gossanous, Fe‐ox coated, bxd qtz vn


grab Adit 0.43 44 1.515 4310 3420 gossanous vnd mullock adjt to shaft

A conductor plate for the VTEM anomaly was modelled by geophysical consultants, Mitre Geophysics. The anomaly is a strong, double peak Z-component response and is 400 metres along strike by 150 metres depth extent with a gentle northerly plunge. It dips 70-90° towards the east and the depth to top is 50 to 100 metres. The local geology supports the inference that the VTEM conductor is due to pyrite/chalcopyrite/chalcocite massive sulfides. The plate model is shown on a long section drawn through the mine (Figure 7). Drill testing of this plate conductor is a priority activity for the next round of drilling on EL 5583.

Figure 7: Long-section through the Mt Nicholas Mine showing mine workings and the plate model position. The mapped mine workings (shafts and an adit) are shown in their correct locations, however their depth/length extents are unknown as no mine plans exist.

Note: MNDD001 does not pass through the VTEM plate model.

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Calarie (ML 739 & EL 7023, 100% TriAusMin, Kimberly Diamonds Farming-In)

Kimberly Diamonds (ASX:KDL, formerly Goodrich Resources GRX) completed a two diamond hole (GLM01 and GLM02) drilling program at the historical Lachlan Gold Mine on the Calarie Project in June-July 2013. The holes targeted the depth continuation of the previously-mined, high-grade ore shoot/s, below the existing, near-surface JORC-compliant resource defined by Kimberly in 2012. Drillhole GLM01 was completed at 238.6 m and GLM02 at 236.3 m. Samples were submitted for assaying and results are pending. Overflow (EL 5878 (90.8% TRO) and EL 7941 (100% TRO))

In April 2013, 14 man-days of reconnaissance regional field work was undertaken across the two Overflow tenements, the aim of which was to evaluate anomalies defined by the previous airborne VTEM geophysical survey. During the field trip 8 targets within the ELs were also visited and 36 rock samples collected over the two tenements.

A total of 33 individual EM anomalies were field-checked, of which 11 appear to be stratigraphic or formational, and 4 occur in areas of regolith cover with no outcrop, 7 are clearly sourced from cultural features (sheds, fences, piles of metal rubbish etc.) and 11 are considered false anomalies or of uncertain origin. The anomalies under cover (‘blind’) remain for further assessment. Rock samplesii were collected from outcrop, subcrop, structures, sulfide gossans and mullock dumps across the tenements. Overall many samples exhibited anomalism in various elements. Precious metal values for gold include 4 samples assaying > 0.1 g/t with a maximum value of 0.46 g/t in OFR036 coming from an epithermal looking silica vein outcropping on Prettyview South prospect. A sulfide gossan is developed on the regionally important Coonara-Bluff Structure occurs as the BRTS prospect. Three samples taken from this zone (OFR020 to _022) are strongly anomalous in a number of elements indicative of hydrothermal mineralising fluids. These include gold (to 0.16 g/t), silver (to 11.3 g/t), arsenic (2550 ppm), copper (201 ppm), lead (2360 ppm) and antimony (190 ppm). Cooper’s Hill samples (OFR023 to _028) exhibit consistently anomalous arsenic (5 of the 6 samples assaying > 200 ppm), lead, antimony and (weak) copper and zinc with maximum values of 683 ppm, 1370 ppm, 21 ppm, 140 ppm and 135 ppm respectively. This prospect features a single fence of drill holes off the northern end of it and subsequently appears to have not been adequately drill tested. Samples from Deeve’s Shaft and BO2 Area also displayed anomalism in pathfinder elements with strong bismuth and molybdenum values. Anomalous sample results are summarised in Table 4. Table 4: Selected assays for Overflow rock samples (*co-ordinates are in GDA94 MGA Z55).

Sample Type Prospect East* North* Description Au g/t

Ag g/t

As ppm

Bi ppm

Cu ppm

Pb ppm

Zn ppm

OFR018 grab Spooky Hill 470655 6419508 Qtz‐mal vein featuring shallow pits 0.01 0.4 5 8 392 69 43

OFR020 chip BRTS 468766 6432076 sild, sheared metased w qtz‐Fe‐ox vns 0.15 1.0 1575 21 175 538 20

OFR021 chip BRTS 468764 6432059 as pvs 0.02 11.4 456 19 76 259 8

OFR022 float BRTS 468760 6432055 same as pvs w 20% boxworks & str hem staining 0.16 9.3 2550 10 201 2360 33

OFR023 chip Cooper’s Hill 468233 6430189

sil‐ser‐py altd metaseds w 5% buck qtz vns 0.01 0.5 59 1 36 1060 39

OFR024 chip Cooper’s Hill 468315 6430023 sild phyllite w qtz stock‐working 0.01 2.3 683 4 113 748 94

OFR025 chip Cooper’s Hill 468321 6430001 as pvs 0.02 1.5 649 10 140 1370 135

OFR026 float Cooper’s Hill 468323 6429994 int sild host w str bxwrks 0.01 2.4 355 10 71 817 50

OFR027 chip Cooper’s Hill 468322 6429999

phyllite w abdt qtz vning <50% bxworks 0.05 1.6 522 5 94 942 44

OFR028 float Cooper’s Hill 468440 6430126

qtz vnd, ser‐sil altd felcis volcanic w str hem stained bxwrks 0.03 2.8 229 1 71 1160 12

OFR036 float Prettyview Sth 469396 6424252

chalcedonic silica vn w sulfide bxwrks 0.46 0.1 16 1 7 56 8

OFR039 chip NA 474456 6421295 qtz vnd gossanous metaseds 0.005 0.2 49 1 192 27 154

OFR040 grab NA 474465 6421300 sild, Fe‐ox stained stkwrk 0.03 0.2 35 1 40 134 231

OFR043 grab Deeve’s Shaft 471995 6422524 vnd, sild & bxd mullock 0.01 2.9 80 115 207 1905 104

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Sample Type Prospect East* North* Description Au g/t

Ag g/t

As ppm

Bi ppm

Cu ppm

Pb ppm

Zn ppm

OFR044 grab Deeve’s Shaft 471993 6422521

completely ser‐sil‐py altd rock, 30% py 0.16 1.6 175 56 43 438 35

OFR045

grab / chip BO2 Area 472056 6424122 qtz vnd gossanous volcanic 0.005 0.1 46 11 55 69 71

OFR046 grab BO2 Area 472033 6424106 grab from pit gossanous, sil‐ser altd lithic tuff 0.07 0.2 132 39 16 56 74

OFR047 chip Parkvale 472719 6420825 qtz bxworked sild, vnd gossanous meta‐siltstone 0.005 0.8 63 2 180 2300 342

Figure 8: Map showing Overflow Project VTEM anomalies (red dots scaled to conductive strength) and prospects/historical mines (purple polygons). Background image is VTEM channel 32. Black lines are roads and property boundaries (fences); blue and red lines are tenement EL boundaries for EL5878 and 7941 respectively.

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3. CORPORATE

Cash Position

Details of TriAusMin Limited’s consolidated cash flow and associated details for the June Quarter are contained in the “Appendix 5B – Mineral Exploration Entity Quarterly Report” which follows this activities report. At 30 June 2013, the TriAusMin Group’s net cash balance amounted to $1,501,000 compared to $2,614,000 at the end of the previous quarter.

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Appendix 5B Mining exploration entity quarterly report

Appendix 5B

4. CORPORATE DIRECTORY Directors James Gill*+

Chairman William Killinger, AM*+ Robert Valliant*+ Alan Snowden*+ Wayne Taylor *Denotes Non-executive +Denotes Independent Executive Management Wayne Taylor Managing Director & Chief Executive Officer Simon Smith Chief Financial Officer

Issued Share Capital As at the date of this report, TriAusMin Limited had 251,389,050 ordinary shares, 6,533,333 options. The options have expiry dates ranging from 24 June 2014 to 13 March 2018 and have exercise prices ranging from A$0.06 to A$0.25. TriAusMin trades on the ASX as ‘TRO’ and on the TSX as ‘TOR’. Monthly Share Price Activity

(A$ per share - ASX) Month High Low Close Jan 13 0.08 0.06 0.08 Feb 13 0.08 0.065 0.07 Mar 13 0.08 0.062 0.065 Apr 13 0.065 0.05 0.05 May 13 0.10 0.045 0.045 Jun 13 0.056 0.028 0.05

(CA$ per share - TSX)

Month High Low Close Jan 13 0.095 0.07 0.095 Feb 13 0.095 0.06 0.08 Mar 13 0.08 0.055 0.055 Apr 13 0.065 0.045 0.065 May 13 0.06 0.035 0.055 Jun 13 0.07 0.04 0.042

Registered Office and Address for Correspondence Suite 702, 191 Clarence Street Sydney NSW 2000 Telephone (02) 9299 7800 International +61 2 9299 7800 Facsimile (02) 9299 7500 Email [email protected] Website www.triausmin.com In Canada; Telephone +1 905 727 8688 Email [email protected] Website www.triausmin.com Share Registry (Australia) BoardRoom Limited Level 7, 207 Kent Street Sydney NSW 2000 Telephone (02) 9290 9600 Email: [email protected] Please direct enquiries regarding Australian shareholdings to the Share Registrar. Transfer Agent (Canada) Equity Financial Trust Company 200 University Avenue, Suite 400 Toronto ON M5H 4H1 Toll Free: 1 (866) 393-4891 Tel: (416) 361-0152 Email: [email protected] Please direct enquiries regarding North American shareholdings to the Transfer Agent.

For further information visit our Website: www.triausmin.com Or Contact: Mr. Wayne Taylor, Managing Director & CEO [email protected] +61 (0)2 9299 7800 (Sydney)

Compliance and Declarations Technical Information for sampling and assaying i Diamond core samples from the Williams Lode were cut on site (at the Londonderry Core Facility) using a diamond saw, then prepped and analysed by ALS Global in Orange for gold by method Au-AA25 and a suite of 35 elements by ME-ICP41. Over-range copper samples were re-assayed for copper by method Cu-OG-46. ii Rock samples from the Overflow Project and Mount Nicholas Prospect were analysed by ALS Global in Orange for gold by fire assay method Au-AA25 and a suite of 35 elements by ME-ICP41. Over-range copper samples were re-assayed for copper by Cu-OG-46.

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Appendix 5B

Competent Person Declarations 1. Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the ‘JORC code’), 2004 Edition, JORC (of

AusIMM, AIG & MC), December 2004. 2. Competent Person / Qualified Person

(a) The technical information in this news release relating to the exploration results at the Woodlawn Project is based on information compiled by Mr Roderick Arnold, who is a Member of the Australasian Institute of Geoscientists. Mr Arnold is a full-time employee of TriAusMin Limited and has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results and “qualified person” as this term is defined in Canadian National Instrument 43-101 (“NI 43-101”). Mr Arnold consents to the inclusion in this news release of the information in the form and context in which it appears. (b) The technical information in this news release relating to the Woodlawn Mineral Resources is based on information compiled by Mr Robin Rankin, who is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM) and accredited by the AusIMM since 2000 as a Chartered Professional (CP) in the geology discipline. Mr Rankin consultants to TriAusMin Limited as Principal Consulting Geologist of independent geological consultancy GeoRes. He has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results and “qualified person” as this term is defined in Canadian National Instrument 43-101 (“NI 43-101”). Mr Rankin consents to the inclusion in this news release of the information in the form and context in which it appears. (c) The information in this release that relates to Mineral Resources or Ore Reserves associated with the Woodlawn Retreatment Project is based on information compiled by qualified person, Mr. Richard Lambert, P.E. a professional engineer and Registered Member of SME. Mr. Richard Lambert is Principal Mining Engineer and Executive Vice President of Roscoe Postle Associates, Inc. He is independent of TriAusMin applying the test set out in Section 1.4 of NI 43-101. He has sufficient experience relevant to the style of mineralization and type of deposit under consideration, and to the activity which he is undertaking, 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’ (the JORC Code) and by reason of his education, affiliation with a professional association (as defined in NI43-101) and past relevant work experience, fulfils the requirements to be a "qualified person" for the purposes of NI43- 101. (d) The technical information in this news release relating to the exploration results for the Overflow, Cullarin JV and Lewis Ponds Projects is based on information compiled by Mr Erik Conaghan, who is a Member of the Australasian Institute of Geoscientists. Mr Conaghan is a full-time employee of TriAusMin Limited and has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results and “qualified person” as this term is defined in Canadian National Instrument 43-101 (“NI 43-101”). Mr Conaghan consents to the inclusion in this news release of the information in the form and context in which it appears.

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Appendix 5B


Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98. Name of entity

TriAusMin Limited ABN

Quarter ended (“current quarter”)

22 062 002 475 June 30th 2013 Consolidated statement of cash flows

Cash flows related to operating activities

Current quarter $A’000

Year to date (12.months)

$A’000 1.1 Receipts from product sales and related debtors - - 1.2 Payments for (a) exploration and evaluation

(b) development (c) production (d) administration

(863) - -

(268)

(2,676) - -

(1,134) 1.3 Dividends received - - 1.4 Interest and other items of a similar nature received 18 67 1.5 Interest and other costs of finance paid - - 1.6 Income taxes (paid) / rebated - 1,140 1.7 Other (provide details if material) - -

Net operating cash flows

(1,113)

(2,603)

Cash flows related to investing activities

1.8 Payment for purchases of: (a) prospects

(b) equity investments (c) other fixed assets

- - -

- -

(11) 1.9 Proceeds from sale of:

(a) prospects (b) equity investments (c) other fixed assets

- - -

---

1.10 Loans to other entities - -1.11 Loans repaid by other entities - -1.12 Other (provide details if material) - -

Net investing cash flows - (11)

1.13 Total operating and investing cash flows (carried forward)

(1,113)

(2,614)

1.13 Total operating and investing cash flows (carried forward)

(1,113)

(2,614)

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Appendix 5B

Cash flows related to financing activities

1.14 Proceeds from issues of shares, options, etc. - 2,934 1.15 Proceeds from sale of forfeited shares - -1.16 Proceeds from borrowings - -1.17 Repayment of borrowings - -1.18 Dividends paid - -1.19 Other - Share issue costs - (267)

Net financing cash flows - 2,667

Net increase (decrease) in cash held (1,113) 53

1.20 Cash at beginning of quarter/year to date 2,614 1,448 1.21 Exchange rate adjustments to item 1.20 - -

1.22 Cash at end of quarter 1,501 1,501

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

Current quarter $A'000

1.23 Aggregate amount of payments to the parties included in item 1.2 144

1.24 Aggregate amount of loans to the parties included in item 1.10 -

1.25 Explanation necessary for an understanding of the transactions

- Non Executive Directors’ fees $43,400 - Executive Directors’ salary(incl super) $105,512

Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and

liabilities but did not involve cash flows

N/A

2.2

Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

N/A

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Appendix 5B

Financing facilities available Add notes as necessary for an understanding of the position.

Amount available $A’000

Amount used $A’000

3.1 Loan facilities

Nil N/A

3.2 Credit standby arrangements

Nil N/A

Estimated cash outflows for next quarter

$A’000

4.1 Exploration and evaluation 150

4.2 Development -

4.3 Production -

4.4 Administration 250

Total 400

Reconciliation of cash Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.

Current quarter $A’000

Previous quarter $A’000

5.1 Cash on hand and at bank 501 614

5.2 Deposits at call 1,000 2,000

5.3 Bank overdraft - -

5.4 Other (provide details) - -

Total: cash at end of quarter (item 1.22) 1,501 2,614

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Appendix 5B

Changes in interests in mining tenements

Tenement reference

Nature of interest (note (2)) Interest at beginning of quarter

Interest at end of quarter

6.1 Interests in mining tenements relinquished, reduced or lapsed

N/A

6.2 Interests in mining tenements acquired or increased

N/A

Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates. Total number Number

quoted Issue price per security (cents)

(see note 3)

Amount paid up per security (cents)

(see note 3) 7.1 Preference +securities

(description) Nil N/A N/A N/A

7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

7.3 +Ordinary securities 251,389,050 251,389,050 N/A N/A

7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs

Nil

Nil

Nil

N/A

N/A

N/A

Nil

N/A

7.5 +Convertible debt securities - Performance Share

Nil

N/A

N/A

N/A

7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted

Nil

Nil

N/A

N/A

N/A

N/A

N/A

N/A

7.7 +Unlisted Convertible equity securities - Special Warrants

Nil Nil N/A N/A

7.8 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted

Nil

Nil

N/A

Nil

N/A

Nil

N/A

Nil

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Appendix 5B

7.9 Options Listed Unlisted TROAZ: 1 share for 1 option TROAK: 1 share for 1 option Options to acquire ordinary shares Options to acquire ordinary shares Option to acquire ordinary shares Options to acquire ordinary shares Options to acquire ordinary shares Options to acquire ordinary shares Options to acquire ordinary shares Options to acquire ordinary shares Options to acquire ordinary shares Options to acquire ordinary shares Options to acquire ordinary shares Options to acquire ordinary shares

Nil

2,933,333

50,000 100,000 100,000 500,000

2,000,000 50,000 50,000 50,000

200,000 200,000 200,000 50,000 50,000

Nil

Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil

Exercise price N/A

AU 25 cents AU 25 cents

AU 11.5 cents AU 11.5 cents AU 10.0 cents

AU 16 cents AU 11.5 cents AU 09.5 cents AU 06.0 cents AU 06.0 cents AU 06.0 cents AU 10.0 cents AU 07.5 cents AU 06.5 cents

Expiry date N/A

24/06/14 23/06/15 27/06/16 27/06/16 18/11/15 19/3/16 4/2/17

13/6/17 23/10/17 23/10/17 23/10/17 21/11/17 21/3/18 13/3/18

7.10 Exercised during quarter Nil Nil N/A N/A 7.11 Issued during quarter Nil Nil N/A N/A 7.12 Expired/Lapsed during quarter 7.13 Debentures Nil N/A 7.14 Unsecured notes Nil N/A

Compliance statement

1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).

2 This statement does give a true and fair view of the matters disclosed.

Sign here: Date: 29 July 2013 Chief Executive Officer

Print name: Wayne Taylor

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Appendix 5B

Notes

1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

3 Issued and quoted securities. The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.

4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.

5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

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quarterly report june 2013 final · 496 497 1.0 0.07 1.64 2.66 6.2 0.02 504 505 1.0 1.17 0.04 0.26...

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