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WESTERN AUSTRALIA
King George Diamond Project

Mulgabbie Gold Project

Golden Valley Gold Project

Mt Keith Gold Project

Yilgarn Tenements (Lime Kilns & Hakes Find)

King George Diamond Project (50%)
Ellendale Resources NL (50% - Manager)

The King George diamond project is a 50/50 joint venture with Ellendale Resources NL ("Ellendale") who manages the exploration. The project is comprised of one exploration licence and is located in the North Kimberley province of Western Australia. (E80/1592)

The tenement covers part of the lower Bulgurri diamondiferous kimberlite fissure system, and also incorporates ground to the east of this fissure system which hosts the Hadfield's kimberlite sill and other inferred kimberlite bodies. The prospect is adjacent to the ground held by Striker Resources NL ("Striker").

The lower Bulgurri fissure system passes through the project area at the locality known as Anomaly A23. At this point, the dyke has increased in width to at least 7 metres, (measured by drilling). Exploration did not confirm the presence of individual dyke structures, but instead appeared to have delineated a much larger kimberlite body.

Encouraging drill results from Anomaly A23 previously reported by Ellendale and Oropa included the recovery of 59 macro diamonds and 13 micro diamonds from two aircore drillholes and one RC drill hole.

In August 2001, Ellendale and Oropa entered into an Option Agreement with Striker Resources NL, (“Striker”) for Striker to conduct exploration on Oropa’s and Ellendale’s behalf. Striker subsequently completed a series of field programs at King George during the 2001 and 2002 field seasons. This work included bulk sampling, loam sampling, gravity and EM geophysical surveys. Despite obtaining encouraging results from the exploration undertaken, Striker later elected to withdraw from the Option Agreement on King George.

Limited field work has been undertaken by Ellendale and Oropa during the 2003/04 filed season.

Mulgabbie Gold Project (95%)
Civil and International (Aust) (5%)

The Mulgabbie gold project (“Mulgabbie”) which comprises two contiguous P/Ls (P28/768 and P28/769) is located 130km northeast of Kalgoorlie, immediately to the east of SOG’s Carosue Dam gold mine. Mulgabbie was formerly subject to a Joint Venture Agreement (“JVA”) with Min-Tech 8 Ltd (renamed Telezon Limited “Telezon”), under which Telezon was earning a 75% interest by managing the project and solely funding the first $200,000 of the exploration costs at Mulgabbie. Telezon failed to fulfil its obligations under the JVA and management and the original equity interest of 70% reverted to Oropa in late August 2001. Civil and International (Aust) Pty Ltd (“Civil”), the third party to the JVA, holds a 5% free carried interest in the joint venture.

In 2002, Oropa reached agreement with a Kalgoorlie based company, Mulgabbie Mining Pty Ltd (“Mulgabbie Mining”) for Mulgabbie Mining to farmin into the project. Under the terms of the agreement, Mulgabbie Mining is to spend a minimum $100,000 on joint venture exploration over a 3 year period to acquire a 51% interest in Mulgabbie from Oropa commencing 26 June 2002. Under the terms of the agreement, Oropa has the right to claw-back a 31% interest in the project from Mulgabbie Mining if a proven and probable resource of a minimum 500,000 oz Au is established. Under such circumstances, Oropa is to pay Mulgabbie Mining three times its contribution toward the total costs associated with the exploration and development of this resource.

Since Mulgabbie Mining became involved in the project, Oropa reached settlement with Telezon for Telezon to relinquish its 25% interest in the project as full and final settlement of debt owed to Oropa. As a result, upon Mulgabbie Mining earning its 51% interest in Mulgabbie, Oropa will hold a 44% contributing interest, with Civil holding a 5% free carried interest. To date, Mulgabbie Mining has undertaken a number of geological mapping programs, reassessment of all previous data and limited drilling. A diamond drill program is currently being planned to test the postulated structural locations of ore shoots at the Ironclad workings towards the end of 2004.

Golden Valley Gold Project (5% free carried)

Polaris Metals NL (“Polaris”) and Western Areas NL (“Western”) have recently reached agreement to restructure the current joint venture in respect to their Bullfinch North Joint Venture, a portion of which covers the Golden Valley tenements (“GV tenements”), in which Oropa and Polaris were previously contributing towards exploration carried out by Western. The revised agreement also covers other areas aside from the GV tenements and for the package Polaris has agreed to issue 550,000 ordinary shares in Polaris to Western, valued at $100,000. Oropa will be free carried by Polaris for its 5% interest in the GV tenements to the completion of a bankable feasibility study. Oropa has also executed an agreement with Polaris for it to have a one off opportunity to clawback its interest in a portion of the GV tenements to a 15% participating interest by paying Polaris $50,000 cash consideration plus 15% of Polaris’ total expenditure on the designated area. Western is to receive a 2.0% NSR royalty on any minerals produced from the GV tenements other than the portion of the tenements in which Oropa has a clawback right. In this portion of the GV tenements, Westerns’ royalty reduces to 1.5%.

Mt Keith Gold Project (10% free carried)
KT Moore (80%)
Murchison Exports Ltd (10%)

The Mt Keith tenements (“Mt Keith”) comprising two mining leases (M53/490 and M53/491), are situated 5km north of WMC Resources Ltd’s giant Mt Keith nickel mine and host numerous old gold prospects and old workings. A number of exploration programs were completed by Oropa during the 1990s and other programs were undertaken by Gascoyne Gold Mines NL and Yandal Resources NL. In November 2003 Oropa reached agreement with vendors, KT Moore and Murchison Exports Ltd for Oropa to reduce its interest to a 10% free carried interest in the two mining leases, and KT Moore is required to maintain the project in good standing. KT Moore has the right to assign an interest in the project to a third party .

Yilgarn Tenements

Lime Kilns Project (85%)
Yellowmoon Gold Mines Pty Ltd (10%)
VW Strange (5%)

The Lime Kilns tenement (M77/559) is located 3km south of Southern Cross, immediately to the north of the Cornishman gold mine. Cornishman, (initial published reserves of 700,000t @ 5.75g/t Au) has been mined in four phases over the past few years under a joint venture agreement between SOG and Troy Resources NL. Oropa drilled 4 reverse circulation drillholes in July 2004 for 200m in the central portion of the block. The best intercept from this drilling returned 4m @ 14.7g/tAu from 36m.

Hakes Find Project (75%)
Bell River Pty Ltd (25%)

The Hakes Find gold project (M77/948) is located 8km south of Southern Cross and lies in a similar structural setting and on the strike extension of SOG’s Transvaal mining operation. A small inferred resource of 300,000t @ 1.15g/t Au has previously been outlined within the Devlin’s Reward prospect at Hakes Find. This project, along with others currently held by Bellriver Pty Ltd is presently under sale negotiations with a third party.

The Hakes Find gold project (M77/948) is located 8km south of Southern Cross and lies in a similar structural setting and on the strike extension of SOG’s Transvaal mining operation. A small inferred resource of 300,000t @ 1.15g/t Au has previously been outlined within the Devlin’s Reward prospect at Hakes Find. This project, along with others currently held by Bellriver Pty Ltd is presently under sale negotiations with a third party.


				*WESTERN AUSTRALIA* King George Diamond Project *Mulgabbie Gold Project* *Golden Valley Gold Project* Mt Keith Gold Project *Yilgarn Tenements (Lime Kilns & Hakes Find)*



			King George Diamond Project (50%) Ellendale Resources NL (50% - Manager) The King George diamond project is a 50/50 joint venture with Ellendale Resources NL ("Ellendale") who manages the exploration. The project is comprised of one exploration licence and is located in the North Kimberley province of Western Australia. (E80/1592) The tenement covers part of the lower Bulgurri diamondiferous kimberlite fissure system, and also incorporates ground to the east of this fissure system which hosts the Hadfield's kimberlite sill and other inferred kimberlite bodies. The prospect is adjacent to the ground held by Striker Resources NL ("Striker"). The lower Bulgurri fissure system passes through the project area at the locality known as Anomaly A23. At this point, the dyke has increased in width to at least 7 metres, (measured by drilling). Exploration did not confirm the presence of individual dyke structures, but instead appeared to have delineated a much larger kimberlite body. Encouraging drill results from Anomaly A23 previously reported by Ellendale and Oropa included the recovery of 59 macro diamonds and 13 micro diamonds from two aircore drillholes and one RC drill hole. In August 2001, Ellendale and Oropa entered into an Option Agreement with Striker Resources NL, (“Striker”) for Striker to conduct exploration on Oropa’s and Ellendale’s behalf. Striker subsequently completed a series of field programs at King George during the 2001 and 2002 field seasons. This work included bulk sampling, loam sampling, gravity and EM geophysical surveys. Despite obtaining encouraging results from the exploration undertaken, Striker later elected to withdraw from the Option Agreement on King George. Limited field work has been undertaken by Ellendale and Oropa during the 2003/04 filed season. Mulgabbie Gold Project (95%) Civil and International (Aust) (5%) The Mulgabbie gold project (“Mulgabbie”) which comprises two contiguous P/Ls (P28/768 and P28/769) is located 130km northeast of Kalgoorlie, immediately to the east of SOG’s Carosue Dam gold mine. Mulgabbie was formerly subject to a Joint Venture Agreement (“JVA”) with Min-Tech 8 Ltd (renamed Telezon Limited “Telezon”), under which Telezon was earning a 75% interest by managing the project and solely funding the first $200,000 of the exploration costs at Mulgabbie. Telezon failed to fulfil its obligations under the JVA and management and the original equity interest of 70% reverted to Oropa in late August 2001. Civil and International (Aust) Pty Ltd (“Civil”), the third party to the JVA, holds a 5% free carried interest in the joint venture. In 2002, Oropa reached agreement with a Kalgoorlie based company, Mulgabbie Mining Pty Ltd (“Mulgabbie Mining”) for Mulgabbie Mining to farmin into the project. Under the terms of the agreement, Mulgabbie Mining is to spend a minimum $100,000 on joint venture exploration over a 3 year period to acquire a 51% interest in Mulgabbie from Oropa commencing 26 June 2002. Under the terms of the agreement, Oropa has the right to claw-back a 31% interest in the project from Mulgabbie Mining if a proven and probable resource of a minimum 500,000 oz Au is established. Under such circumstances, Oropa is to pay Mulgabbie Mining three times its contribution toward the total costs associated with the exploration and development of this resource. Since Mulgabbie Mining became involved in the project, Oropa reached settlement with Telezon for Telezon to relinquish its 25% interest in the project as full and final settlement of debt owed to Oropa. As a result, upon Mulgabbie Mining earning its 51% interest in Mulgabbie, Oropa will hold a 44% contributing interest, with Civil holding a 5% free carried interest. To date, Mulgabbie Mining has undertaken a number of geological mapping programs, reassessment of all previous data and limited drilling. A diamond drill program is currently being planned to test the postulated structural locations of ore shoots at the Ironclad workings towards the end of 2004. *Golden Valley Gold Project (5% free carried)* Polaris Metals NL (“Polaris”) and Western Areas NL (“Western”) have recently reached agreement to restructure the current joint venture in respect to their Bullfinch North Joint Venture, a portion of which covers the Golden Valley tenements (“GV tenements”), in which Oropa and Polaris were previously contributing towards exploration carried out by Western. The revised agreement also covers other areas aside from the GV tenements and for the package Polaris has agreed to issue 550,000 ordinary shares in Polaris to Western, valued at $100,000. Oropa will be free carried by Polaris for its 5% interest in the GV tenements to the completion of a bankable feasibility study. Oropa has also executed an agreement with Polaris for it to have a one off opportunity to clawback its interest in a portion of the GV tenements to a 15% participating interest by paying Polaris $50,000 cash consideration plus 15% of Polaris’ total expenditure on the designated area. Western is to receive a 2.0% NSR royalty on any minerals produced from the GV tenements other than the portion of the tenements in which Oropa has a clawback right. In this portion of the GV tenements, Westerns’ royalty reduces to 1.5%. Mt Keith Gold Project (10% free carried) KT Moore (80%) Murchison Exports Ltd (10%) The Mt Keith tenements (“Mt Keith”) comprising two mining leases (M53/490 and M53/491), are situated 5km north of WMC Resources Ltd’s giant Mt Keith nickel mine and host numerous old gold prospects and old workings. A number of exploration programs were completed by Oropa during the 1990s and other programs were undertaken by Gascoyne Gold Mines NL and Yandal Resources NL. In November 2003 Oropa reached agreement with vendors, KT Moore and Murchison Exports Ltd for Oropa to reduce its interest to a 10% free carried interest in the two mining leases, and KT Moore is required to maintain the project in good standing. KT Moore has the right to assign an interest in the project to a third party . Yilgarn Tenements Lime Kilns Project (85%) Yellowmoon Gold Mines Pty Ltd (10%) VW Strange (5%) The Lime Kilns tenement (M77/559) is located 3km south of Southern Cross, immediately to the north of the Cornishman gold mine. Cornishman, (initial published reserves of 700,000t @ 5.75g/t Au) has been mined in four phases over the past few years under a joint venture agreement between SOG and Troy Resources NL. Oropa drilled 4 reverse circulation drillholes in July 2004 for 200m in the central portion of the block. The best intercept from this drilling returned 4m @ 14.7g/tAu from 36m. *Hakes Find* Project (75%) Bell River Pty Ltd (25%) The Hakes Find gold project (M77/948) is located 8km south of Southern Cross and lies in a similar structural setting and on the strike extension of SOG’s Transvaal mining operation. A small inferred resource of 300,000t @ 1.15g/t Au has previously been outlined within the Devlin’s Reward prospect at Hakes Find. This project, along with others currently held by Bellriver Pty Ltd is presently under sale negotiations with a third party. The Hakes Find gold project (M77/948) is located 8km south of Southern Cross and lies in a similar structural setting and on the strike extension of SOG’s Transvaal mining operation. A small inferred resource of 300,000t @ 1.15g/t Au has previously been outlined within the Devlin’s Reward prospect at Hakes Find. This project, along with others currently held by Bellriver Pty Ltd is presently under sale negotiations with a third party.