Surrender Report for CEP 54495, Loudon Hill Block 2015

This Coal Surrender Report outlines the work carried out on CEP 54495, Loudon Hill, from May 2013 to June 2015. During the last two years Oreti Resources has completed a literature review, compiled a GIS database, undertaken field mapping, spot sampling, a trenching programme and completed the first stage of a drilling programme. Analysis of the rock chip samples gave a coal classification ranging from sub‐bituminous A to sub‐bituminous C. However, with the decline in both price and markets (both local and international) for coal, Oreti Resources has come to the conclusion that to proceed with exploration in CEP 54495 is no longer commercially viable and as such has made the decision to surrender the permit.