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Resource Statement

Table 1

The inferred mineral resource reported by Synergy in March 2009 was:

Gold

Location Note Tonnes Grade Au g/t Oz Gold
Glen Wills 1 338 200 7.04 76 550
Glen Wills tailings 2 112 000 2.60 9 350
Sunnyside 3 75 600 7.14 17 350
Totals . 525 800 6.11 103 250

Silver

Location Note Tonnes Grade Ag g/t Oz Silver
Glen Wills 4 338 200 10.86 118 100
Totals . 338 200 10.86 118 100

Note 1 – The Glen Wills resource is based on drilling to January 2009 and the modelling shows that the deposit is still open at depth and to the north.

Note 2 – The Glen Wills tailings consist of the sands from the Maude battery. The resource calculations for the Glen Wills sands were initially undertaken in 1990 and have been classified as acceptable at the confidence level of Inferred Mineral Resource.

Note 3 – The Sunnyside resource is based on drilling of the Central Line (United Brothers) to September 2008. The modelling shows that the Central Line is still open at depth and to the south. Additional drilling will be required on the Eastern Line (Antiope) to establish a resource on that line. The Western Line has not yet been drilled.

Note 4 – A maiden Inferred Mineral resource for silver has been established at Glen Wills.

The geological information contained within this report was compiled by Mr Peter de Vries, a consulting geologist, on behalf of Synergy Metals Ltd. Mr de Vries is a member of the Australasian Institute of Mining and Metallurgy and is a Competent Person as defined by the 2004 JORC Code, having more than five years experience which is relevant to the style of mineralisation and type of deposit described in the report, and to the activity for which he is accepting responsibility. Mr de Vries consents to the publishing of the information in this report in the form and context in which it appears.