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Tenements - by Production

Morning Star's current mining tenements produced around 2 Million Ounces of Gold historically. The majority of producing mines in MCO's tenements, were worked only in the weathered zone above the water table due to isolated sites and difficult topography rendering it virtually impossible to get steam driven mining equipment to many sites. The Morning Star Goldmine is an exception, having produced gold historically ~700m below the water table to a depth of 940 metres. Diamond drilling conducted by WMC beneath the deepest production areas, returned mineralised gold assays in the 1950's. This gives MCO great hope of deeper mineralisation across its range of prospects beneath historic workings in many cases no deeper than 50-100 metres depth from surface.

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MCO's granted mining and exploration licences (ELs and MINs) cover the three major 'shear zones' running northwest from Woods Point. These 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, some of which were mined for rich returns of Gold from shallow workings historically only within the near surface weathered zone and above the water table.

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 at the Wallaby Dyke on EL5079.

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.

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