The Leichhardt Creek alluvial deposit is located within Mining Lease Application 20615, 180 km north of Mount Garnet, 85 km from Mareeba and about 2 km from the Mulligan Highway , located approximately 10 km south-east of Mount Carbine.

Below is from independent Geologist Les Davis Report included in the Consolidated Tin Mines Limited Prospectus.

Previous Investigations

The tin dredging companies explored for large tin dredging projects away from the Mount Garnet area at the same time as they were establishing their Mount Garnet operations. RTD undertook drilling in the 1960s and 1970s in the Maryfarms area, 80 km by road from Mareeba. Tributary creeks of the Mitchell River, draining from the tin bearing Mount Carbine Granite, had formed a broad plain at the foot of the granite ranges. The Leichhardt Creek drainage, one of the tributaries, was found to be a potential dredging target. Higher alluvial grades were found at the point where the Leichhardt Creek emerged from the ranges.

In 1984 and 1985, reviews of the Leichhardt Creek were completed using previous drill information. In late 1985, further drilling was completed within the higher grade area to define an economic resource. After the tin price collapse in 1985, no further work was undertaken. RTD applied for a ML to hold the high-grade alluvial area.

The Leichhardt Creek tenements were included in the purchase of the Mount Garnet mineral properties by Norminco from Oakbridge in1995. Further drilling was commissioned within the ML. Alluvial areas were identified on either side of the current Leichhardt Creek channel, termed the North Terrace and the South Terrace, and resources, (see Figure 14) in accordance to the JORC Code, were quoted, using a 200 g/bcm tin cut-off, as:

• North Terrace (Blocks 1N, 2N and 3N) 416 000 bcm grading 512 g/bcm tin,
• South Terrace (Blocks 1 to 5) 934 000 bcm grading 393 g/bcm tin.
• South Terrace downstream blocks (Blocks 5-8) 350 000 bcm grading 391 g/bcm tin.
• Marginal grade South Terrace blocks (4A, 5A and 6A) 214 000 bcm grading 163 g/bcm tin (using a 100 g/bcm tin cut-off).

The alluvial wash was at shallow depth and for Blocks 1 to 5, waste to wash strip ratio was 0.75 to 1

Norminco started an alluvial mining project on the North Terrace in 1995 and stopped in early 1997.

The Leichhardt Creek Project was included in the 1999 Tin Australia prospectus. The prospectus records mining of the North Terrace by Norminco. The South Terrace was not mined. The South Terrace Indicated Mineral Resource used in the prospectus was 921 000 bcm grading 424 g/bcm tin.

Tin Australia did no work within the project area.

Conclusions - Mineralisation Potential and Future Work

All the resource areas are within the EPM 14579. The failed Norminco mining operation of 1995 to1997 was within the North Terrace. CTM will focus on the South Terrace mineralisation of the Leichhardt Creek Project.

CTM considers that more drilling is required to gain higher confidence for the resources for detailed mine planning. In doing so, the lower grade zones and downstream extensions can be examined. Norminco and Tin Australia were experiencing a tin price which is less than half of the current spot LME tin metal price.

Drilling at the Leichhardt Creek Project will be undertaken to confirm earlier drill results and extend the high-grade areas, which were estimated from the earlier drilling. The project area is well away from the Mount Garnet Projects and will need to be a “stand-alone” operation.