Tenements - by Mining Title

Morning Star Gold's Eastern Victorian Tenements area covers approximately 200km².

Morning Star Gold NL (MCO) holds granted Exploration Licences (ELs) and Mining Licences (MINs) covering over 200km2 of the highly prospective and historically rich 'Woods Point Dyke Swarm', which runs roughly between Jamieson in the northwest to Walhalla in the southeast.

The areas shaded olive and orange on the tenement map below are MCO's granted Mining Licences (MINs 5009, 5299 & 5241) - all of which are accessed via main roads and are either at or within approximately 10kms of Woods Point. MCO's granted Exploration Licences, of which there are two (ELs 5079 & 4320), are depicted in grey and surround the three MINs.

MIN 5009 contains the company's key current gold production asset (Morning Star Goldmine) and the highly prospective Waverly line of workings of over 5kms in length.

See the image below for MCO's current tenement map by location noting historic production on some of the cuurent prospects.

See the pdf file attached for a tenement map by Mining Title Area of MCO's Tenements - 2010 (326.05 Kb)

MCO's granted ELs and MINs cover the three major 'shear zones' running northwest from Woods Point - thesde zones have historically hosted the major mineralisation in the district. The three zones run along the Ross Creek Line, the All Nations Line and the Tingha Line of dykes and workings. Many mines exist within these three MINs and two ELs, most of which were mined for rich returns of gold from shallow workings in the weathered zone above the water table historically.

MIN5299 known as the 'Dempsey Licence' near Gaffney's Creek, contains the historically rich Dempsey, Hunts and Rose of Denmark Mines which have produced ~87,000ozs Au - some recently. Exploration and development is underway on MIN5299 at the Rose of Denmark Mine and immediately adjacent to it, the Wallaby Dyke on EL5079 is being evaluated for a diamond-drilling program late in 2011.

Indigenous Land Use Agreements (ILUAs) covering MCO's entire tenement area have been executed by MCO and the traditional owners. These ILUAs have also been registered in perpetuity in the National Native Title Tribunal (NNTT), an adjunct to the Federal Court of Australia. This means MCO and the two Indigenous Peoples concerned (Taungurong & Gunai Kurnai Peoples) have binding agreements on mineral rights in perpetuity. This adds great stability and certainty to MCO's entire tenement package.