1.0 Introduction

Venus Metals Corporation Limited (‘Venus Metals’) has two strategic exploration licences in the Greenbushes region of Western Australia. These tenements are located adjacent to, and east of, the world-class Greenbushes Lithium-Tantalum mine. The tenement areas contain outcropping pegmatitic stratigraphy, the host rock for lithium-tantalum mineralisation in the region.

Yalgoo Iron Ore Project (YIOP) is centrally placed within Western Australia’s emerging Mid-West Iron Ore Province (Figure 1). During March 2010 Venus signed the Yalgoo Farm In and Joint Venture Agreement with HD Mining & Investment Pty Ltd (HD Mining), a subsidiary of Shandong Provincial Bureau of Geology & Mineral Resources based in Jinan, China. HD Mining has earned 50% in the iron ore rights at Yalgoo.