Pacific American Holdings Limited provided a technical update on the Porphyry North Gold Project that is a significant tenement of interest in a portfolio of tenements that form part of the Company's farm in agreement with Salazar Gold Pty Ltd. ("Salazar"). The Porphyry North Gold Project covers 113km2 of highly prospective tenure in the richly endowed Eastern Goldfields of Western Australia and is located between several growing gold deposits and projects. The Porphyry North gold project lies 15km north of the Porphyry gold mining centre (1.2Moz)1 and approximately 150km north east of Kalgoorlie in the world class Eastern Goldfields region of the Archaean Yilgarn craton in Western Australia. It is located in the Keith-Kilkenny Tectonic Zone which extends from north of Leonora to south of Carosue, a distance of over 200km. A large section of this zone is under cover by Lake Raeside Cainozoic sediments including the northern part of the Porphyry North Gold Project. Since the 1970s, several mining companies have explored for nickel and gold within and around the Porphyry North project area. However, most historical exploration, which comprised limited soil sampling and shallow RAB drilling, focused on areas of outcrop and shallow soil-covered terrain with little effective exploration undertaken in areas of deeper overburden. The only drilling completed on the Porphyry North project were Rotary Air Blast (RAB) programmes (drilled to blade refusal) completed in the Nugget Patch area and to the south just north of the Red Gate granite. Salazar completed a detailed airborne magnetic/radiometric/DTM survey merged with public datasets, reconnaissance rock chip sampling for gold and petrographic studies, several geophysical studies including a litho-structural basement interpretation, soil surveys over the Nugget Patch and Red Gate Targets, a ground gravity survey over the new Rainbow Dam target, a ground magnetic survey over One Tree Well historical gold workings, an airborne high resolution magnetic survey over part of the Rainbow Dam target and the northern extension of the One Tree Well workings under cover, and metal detecting mostly in the Nugget Patch area. No drilling has been undertaken but a Programme of Works (PoW) has recently been granted to drill the One Tree Well mine workings, and Salazar plans to lodge a PoW to drill the Nugget Patch and Rainbow Dam targets. The three gold targets include Rainbow Dam, the Nugget Patch and the Red Gate Shear. The exploration results from past explorers are significant in showing that potential fertile structures are present in the tenements, and provide evidence of gold mineralising systems. However, due to the limitations of historical open file data, the results are considered to be only indicative, though fit for purpose in flagging the prospectivity of the areas and supporting the need for high quality modern exploration. The Competent Person believes that a narrative approach of this nature is the most objective and balanced way to present the information associated with these projects for now.