Coonambula Resources Group Pty Ltd ACN: 607 591 168 (“CRG”) is a holding company for a group of companies formed to extract sand and gravel, precious minerals (“the Resource”) from Permitted and Licensed land for this purpose. Under our Mining License ML100132, stone we have a mineral resource project made up of a paleo glacial till (or channel) located on the “Cheltenham Station” Cheltenham Road, Eidsvold 4627 Queensland (“the Project). This is about 25 kms east of Eidsvold in Wide Bay Burnett Region, Queensland

Our Gold Project site is situated in a horticulturally developed area of  Queensland and has attributes sufficient to operate as long term stone products extraction project with associated low yield high volume mineral processing and alluvial gold recovery. When we commence our operations in 2023, we will extract alluvial material for processing. No hard rock and no underground mining will occur as we understand at this time in the projects history.

Our Gold Mining Project will operate on an initial site of approximately 7.5 sq. kms with an average depth of 10 metres to around 12 metres across an area of 600 acres. The Alluvial Gold resource will require specialised extraction technology to minimise water use which is scarce on our tenement.

The material from which we intend to extract alluvial Gold is made up of various types and grades of sand, clay, stone and minerals, including some veins of rare decorative gravels which our company extracts from a neighbouring property, “The Coonambula Station” under a separate Extractive Industries Permit. Our Mining License covers approximately 220 hectares of land and we estimate there is over 200,000,000 cubic metres of treatable material from which we may be able to potentially extract Gold.

Although we operate a Mining Lease, our primary business is Sand, Gravel and Stone of which we have estimated that the quantity and quality of sand and gravel present under our Extractive Industries Permit 175-09 is expected to support a potential minimum 60 years to 80 years of CRG extractive operations. For this reason we have taken small steps in our venture into Alluvial Gold extraction on the Cheltenham Station.

For many reasons, we do not expect earthshaking results from our Mining Lease ML100132 as we have a number of conflicting historical mining reports making our explorative excursion on our Gold Mining site, purely speculative at this point in time. From preliminary reports and some historic sampling, minerals there could see an extraction rate ranging between 0.25 gpt to 0.9 gpt for anticipated gold recovery from the initial area of 220 ha. The estimate is that all up more than 220 million tonnes of mineral bearing resource may be available.

Gold was discovered in the area of the Site in 1888. The presence of gold in the alluvial deposits of the glacial till have been identified by BRI and CRH and the records relate to the identical sand and gravel structures worked by the then traditional mining methods until the water table was encountered. The first gold production recorded from the Hungry Hill Creek McKonkeys Creek area was in 1889.