Australian United Gold - 3-Mar-05

Acquisition and Farm-in agreement with Fox Resources was executed on 24th February 2005. The company may earn up to 70% of Sherlock Bay Extended Nickel-Copper Project with the right to purchase 50% for the sum of $250,000 and the right to earn a further 20% by expending $500,000 over the next 3 years.

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