Wilton Resources

Wilton Resources: since Voyage's last snap report, Wilton has announced updated resource estimates and the recommendations of the scoping study to explore open pit mining methods. The new reports will be followed by a detailed feasibility study to be completed by 1H15 for the commencement of open pit mining. According to the latest resource estimate dated 30 Jun 2014, the Ciemas Gold Project contains 2,390 kg or 74,000 troy ounces (oz) (+6.5%) more gold resources than previously projected in May 2013. More importantly, measured and indicated resources grew by 6,346 kg (+31.1%) while inferred resources fell by 3,956 kg (-24.4%), suggesting higher confidence over the estimated resources following further exploration since May 2014. The estimated gold grade for measured and indicated resources also rose from 8.4 g/t to 8.8 g/t, implying higher resource quality. Resource growth was also well spread among all four key deposits, Pasir Manggu, Cikadu, Sekolah and Cibatu. Voyage maintains its Convincing Gem rating with TP $0.176. Will continue to study the company in preparation for an initiation report.