Macphersons Reward Gold (MRP)

Shares / Stock Code

MRP

Stock Exchange / Sharemarket

ax

MacPhersons Reward Gold (MRP) is a gold exploration company which was successfully listed on the Australian Stock Market (ASX) on 24th December 2010. Strong interest resulted in the listing being over subscribed. The Company’s focus is to explore and extend the highly prospective MacPhersons geological domain of which the Company holds 100% interest in 7 Km of strikelength, which includes the namesake MacPhersons Open Cut mine.

MacPhersons Reward Gold has for one year operated as an unlisted public resource company that during 2010 reopened three open pits located 6km southeast of Coolgardie. These were three of six open pits acquired from, and previously operated by, the famous prospector Bill Powell during the mid-1980’s. In 2010, we completed pit floor due diligence drilling, a wall cutback and have commenced various pit studies on continued drilling and pit development in 2011.

Airborne ortho-imagery surveys were completed in January 2011. Airborne magnetic and spectral surveys are due for completion at the end of January. Drill rigs are scheduled to arrive from the 24th of January.

Initial drilling will be centred on the testing of the depth extensions to the Bakers Find Open Cut and along strike to the Franks Find high grade historical drillhole intercepts located within 40m of the surface and 300m east of the Bakers Find pit. A second programme of drilling will commence between the Powell and A-Cap Open Cuts extending and possibly joining both the outcropping mineralisation in the A-Cap pit and the deep visible gold intersections in the 2010 due diligence diamond drilling.