D002-4 NEWCREST MINING LIMITED (Newcrest Operations Limited) EL20/2003 Queenstown-Mt. Darwin Annual Report for the Twelve Months to 26 May 2007 Compiled by: Joel Kitto June 2007 SUMMARY Newcrest Mining Limited commenced exploration for gold rich deposits on being granted EL20/2003 on the 27th June 2003. The tenement encompasses a large area of prospective Mount Read Volcanics from Mt Owen just outside of Queenstown, south to Mt Darwin. Exploration in this fourth year of work focused on refining untested geological-geochemical-geophysical targets over prospective volcanic and volcaniclastic units using surface geochemical sampling. 2.8 line kms of grid lines, comprising four new lines and an extension of one pre-existing line were constructed over the East Darwin prospect to extend the East Darwin grid, and a total of 135 C-horizon soil samples collected. At the Mt Ellen prospect, 130 C-horizon soil samples were collected over 3.9 line kms of pre-existing grid lines constructed during the previous reporting period. Work planned in the fifth and final year of exploration will be to conduct further drilling of geological, geochemical and/or geophysical anomalies generated during the current reporting period and/or by previous explorers. DIGITAL FILES EL20_2003_200705_01_Report.pdf (Report Text, Figures 1 - 3) EL20_2003_200705_02_Plans 1-3.pdf (Report Plans 1 to 3) EL20_2003_200705_03_Appendix1a.txt (Soil Sample Data – Amdel) EL20_2003_200705_04_Appendix1b.txt (Soil Sample Data – ALS) EL20_2003_200705_05_File Verification.txt (Report File Verification) Datum AMG - AGD66 Zone 55 Distribution Mineral Resources Tasmania Newcrest Mining Limited - S.E. Australia