Projects: Overview

Syndicated's main projects lie in the Mount Isa region and are prospective for base metals, gold and uranium. The tenements contain targets ranging from advanced projects, with resources of copper, molybdenum, gold and rhenium, to more early stage conceptual targets.

The Company's key asset in this region is its interest in the advanced Kalman South molybdenum-copper-rhenium-gold deposit, situated about 60km southeast of Mount Isa within EPM13870. The project is being explored by Syndicated's joint venture partner, Kings Minerals NL. Kings has completed sufficient expenditure to earn a 51% interest in EPM 13870 and can earn up to a 70% interest by completing a final feasibility study.

Syndicated's 100% owned Mount Remarkable tenements are located northeast of Mount Isa and contain copper, gold, zinc and lead exploration targets. Syndicated's initial drilling at Mount Remarkable early in 2008 returned ore grade copper intercepts at the Barbara prospect and following further drilling the maiden copper-gold resource at Barbara was announced in October 2008.

A joint venture agreement known as the West Leichardt Joint Venture Heads of Agreement has been negotiated with Mount Isa Metals Limited on two separate tenements adjacent to the Company's 100% owned Mount Remarkable tenements. The Company will hold a 51% interest in and manage the joint venture.

The Company's Exmouth tenements, located approximately 1000km north of Perth in Western Australia, are considered prospective for base metals and silver mineralisation as well as uranium mineralisation similar to the Manyingee deposit located some 100km to the northeast.

During 2008 phosphate potential was identified at the Exmouth project and selected tenements at Exmouth and Dandaragan in WA as well as in the Georgina Basin in Northwest Queensland have been added to expand the phosphate portfolio.