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1 Fr persnal use nly Quarterly Reprt Perid ending 31 March 2012 ASX Cde: AIV Issued Capital 165,295,993 rd shares (AIV) 70,714,369 ptins (AIVO) 3,900,000 unlisted ptins Market Capitalisatin $4.1M (30 April 2011, $0.025) Directrs Ian Daymnd (Chairman) Dug Yung (MD) Paul Crawfrd (Secretary) Cntact Details 117 Quay Street BRISBANE QLD 4000 PO Bx 217 PADDINGTON QLD 4064 Ph (07) Fax (07) Abut ActivEX ActivEX Limited is a Brisbane based mineral explratin cmpany cmmitted t the acquisitin, identificatin and delineatin f new resurce prjects thrugh active explratin. ASX Release 30 April 2012 Highlights Selwyn East Prject Clncurry district SAM survey cmpleted at Heathrw prspect, interpretatin pending Fllw-up wrk t cmmence at Heathrw prspect in May 2012 Mt Agate Prject Clncurry district QLD Gvernment drilling grant awarded fr Sterling prspect Drill clearances cmpleted, sites ready t drill Flrence Prject Clncurry district Further sampling fr REOs at Flrence Suth prspect Resurce drilling scheduled fr June 2012 Clncurry district - reginal Camel Hill EPM granted Esk Trugh suth-east Queensland 3DIP surveys cmpleted ver three target areas Drilling scheduled fr May 2012 The ActivEX prtfli is fcused n cpper and gld prjects, with substantial tenement packages in eastern Queensland and particularly in the Clncurry district f nrthwest Queensland. The Cmpany als has an advanced ptash prject in Western Australia where it is investigating ptimal methds f extractin f the ptash thrugh a scping study. ActivEX Limited ABN

2 Fr persnal use nly OVERVIEW Explratin activities recmmenced in late February in suth-east Queensland and in April in nrthwest Queensland, fllwing the wet seasn. In suth-east Queensland, mapping and sampling was cmpleted at Barambah and gephysical surveys were cmpleted in the Esk Trugh Jint Venture area. In nrth-west Queensland, native title clearances have been cmpleted fr drilling at the Sterling prspect and a sub-audi magnetic (SAM) survey has been cmpleted at Selwyn East. The Cmpany has been granted a new EPM during the quarter, EPM Camel Hill in the Clncurry district and three mre grants, including EPM Mt Leyshn in the Charters Twers district, are imminent. N activities were carried ut at the Pentland, Prspect Creek and Lake Chandler prjects. Cash At the end f the quarter the Cmpany held $0.826M in cash and receivables. Figure 1: Clncurry district, ActivEX (AIV) tenure including applicatin areas and shwing adjacent Ivanhe (IVA) tenure 2

3 Fr persnal use nly CLONCURRY DISTRICT The Cmpany has cntinued t fcus explratin activities n its three key prjects in the Clncurry District - Flrence, Mt Agate and Selwyn East, althugh field activities were restricted during the nrmal wet seasn. EPM Camel Hill was granted during the quarter. EPM Bulnga and EPM Brightlands are prceeding t grant with n native title bjectins received. EPM Rbur is being prcessed thrugh the native title prcess. Flrence Prject Clncurry District (EPM 15285, 17313, 17805, EPMa 17648, 17652, ActivEX 100%) Results f testing f the cpper and cbalt mineralised znes, reprted in the December 2011 Quarterly reprt, shwed a clse assciatin f cpper-cbalt and rare earth xides. Additinal samples utside the cpper mineralised znes have been selected fr rare earth testing. The samples are currently being analysed by Nitn handheld XRF. Samples with anmalus lanthanum (a light rare earth detectable by Nitn) will be submitted fr labratry assay, principally t analyse fr rare earth elements and Yttrium. Petrlgy wrk is being carried ut n selected samples t identify mineral species carrying the rare earth elements. Preparatin fr drilling in the Flrence area is in prgress with native title clearances cmpleted ver scut drilling sites adjacent t previus Flrence drill sites. Mt Agate Prject Clncurry District (Mt Agate Jint Venture EPM Carpentaria Explratin Limited 100%, ActivEX earning 75%) QLD Gvernment grant fr drilling awarded fr Sterling prspect Site clearances fr drilling cmpleted Drilling scheduled fr May 2012 The Sterling prspect is lcated in the nrthern part f EPM 14955, Mt Agate (see Figure 1). Previus mapping and termite sampling in 2011 has defined several znes f anmalus cpper (>200ppm Cu, up t 1040ppm Cu), mstly crrespnding t areas with partially utcrpping haematitic - granite breccia znes and/ r intense red rck alteratin f the granite, ver a strike length f 4.5 kilmetres (see Figure 2). Sub-audi magnetic surveys were als cmpleted ver the area during 2011, highlighting several f the cpper anmalies as znes f anmalus cnductivity. A prgram f 7 planned drill hles (1,200 metres) were the subject f an applicatin fr drilling assistance under the Queensland Gvernment Cperative Drilling Initiative. During the quarter ActivEX was awarded the grant f $74,000 fr half the allwable drilling csts f the prgram. This is the third such successful grant t the Cmpany n its varius explratin areas. 3

4 Fr persnal use nly Figure 2: Sterling prspect - SAM (EQMMR cnductivity) data shwing cpper anmalus znes, cnductrs and prpsed drill hles Selwyn East Prject Clncurry District (EPM ActivEX 100%) SAM Survey ver Heathrw prspect cmpleted An extensive sub-audi magnetic (SAM) survey was cmpleted ver the Heathrw prspect area. The survey is designed t cllect cnductivity and grund magnetic data ver the prspect which lies 5km east f Ivanhe s Merlin depsit (see Figure 3). The SAM survey, cmbined with additinal mapping and gechemical sampling, shuld assist in defining drill targets in the area. The Heathrw prspect cnsists f utcrpping, sulphide-bearing gssans ver 800 metres f strike length. These are assciated with dlerite intrusins which present as a significant magnetic anmaly ver 4.5km lng. Gssans are expsed n the suthern part f the magnetic anmaly with n utcrp fund t the nrth due t shallw cver f granite sands. Rck chip samples frm a prgram cmpleted in late 2011 returned anmalus cpper (up t 0.27% Cu), cbalt (up t 536ppm C), uranium (up t 300ppm U), gld (up t 0.17ppm Au) and mlybdenum (up t 652ppm M) frm the prspect area. Sme spt high values f rare earth elements (up t 0.9% REO) were als returned frm the general vicinity (see Figure 4). The survey cvered the knwn gssans, the aermagnetic anmaly and an adjacent smaller parallel magnetic anmaly. The survey was cmpleted n 28 April Cmpilatin f the data is in prgress and interpretatin f the results will be carried ut in the next tw weeks. 4

5 Mt Ellitt Fr persnal use nly Merlin decline Mt Dre prpsed pits Heathrw magnetic anmaly Figure 3: Oblique view f Selwyn East, EPM 18073, shwing the Heathrw prspect aermagnetic anmaly and lcatin f Merlin decline, prpsed Mt Dre pen pits and ther facilities Figure 4: Selwyn East, EPM 18073, shwing the Heathrw prspect and rck chip sample results ver aermagnetics SAM survey area highlighted in yellw 5

6 Fr persnal use nly BARAMBAH (Barambah Jint Venture EPM ActivEX 75%, Nrtn Gld Fields 25%, EPM ActivEX 100% ) A prgram f mapping, rck chip sampling and sil sampling frm the Barambah Vein area has been cmpleted. The prgram identified additinal high gld and silver values in a nrthern extensin f the main vein system, reprted in the December 2011 quarter. Rck chip sampling has suggested the crrespndence f higher grade gld and silver values with brecciatin rather than silica veining and epithermal textures. Further wrk is being directed twards an understanding f the rle f brecciatin and mineralisatin. Sil sampling was unsuccessful in accurately defining the vein systems and was discntinued. The mapping infrmatin is currently being incrprated int the 3D gelgical mdel prir t planning the next phase f drilling. ESK TROUGH (Esk Trugh Jint Venture EPM 14476, 14979, 16265, 16327, ActivEX 100%, Cppermly earning up t 70%) 3DIP surveys t define prphyry style mineralisatin cmpleted Drilling prgram scheduled fr May DIP surveys have been cmpleted ver three prspects in the Esk Trugh Jint Venture area. Jint venture partner Cppermly, thrugh gephysicist and Managing Directr Mr Peter Swiridiuk, bring their significant experience in prphyry systems in Papua New Guinea and in particular the use f 3DIP surveys at their Nakru Prject t the Esk Trugh Prject. The resultant prgram at Nakru, n New Britain Island in Papua New Guinea, intersected significant widths f prphyry style cpper-gld mineralisatin in their jint venture with majr gld miner, Barrick Gld. The Kakap prspect lies within the Bubyjan area (Figure 5) and has significant histrical drilling results including 0.47% cpper and 0.49g/t gld in drill hle KAKD1, and 2.12% cpper and 0.72g/t gld in drill hle BRADS26. The cpper mineralisatin intersected in drill hle BRADS26 is cincident with a lw resistivity anmaly detected in an histrical IP diple-diple survey line. The 3DIP survey is designed t help map the extent f sub-surface mineralisatin in three dimensins between survey access lines, cvering a 700m by 600m gldin-sils anmaly at Kakap. The Demnbanga prspect lies within EPM 16265, Blairmre (Figure 5) and ccurs as strng clay and silica alteratin thught t represent lithcaps assciated with buried prphyry intrusins. Grund magnetic surveys cnducted by ActivEX have identified the bundary f a large plutn, the margins f which may hst mineralisatin. The 3DIP survey will cver the nrthern cntact zne f the plutn in an effrt t define sulphide-related mineralisatin. The silicified lithcaps may themselves be detected frm the 3DIP survey as electrical resistivity anmalies which will help map sub-surface gelgy and prvide targets fr drilling. The Seftn prspect lies within EPM 14979, Dadamarine (Figure 5), and has maximum drill hle assays f 1,280ppm mlybdenum and 254ppm cpper in histrical drilling cmpleted by Jimbilly, which drilled t a maximum depth f 130m, with mst hles t less than 50m depth. Subsequent drilling by ActivEX int single line diple-diple IP gephysical anmalies intersected alteratin accmpanied in part by thin, mlybdenum-bearing quartz veins. 6

7 Fr persnal use nly The 3DIP survey is aimed t help map the vein densities and sulphide-related mineralisatin assciated with the alteratin in a cpper-in-sils anmaly. Cllectin f data frm the survey area was cmpleted in April 2012 and is nw being mdelled and interpreted. An RC drilling prgramme f 2,000 t 3,000 metres is planned t fllw the gephysical surveying. The drilling will test fr cpper extensins at Kakap and ther prspects within EPM 14476, Bubyjan. Figure 5: Esk Trugh Prject tenements shwing 3DIP survey areas 7

8 Fr persnal use nly PLANNED WORK PROGRAMS Activities planned fr the next six mnths:- Mt Agate JV: Selwyn East: Flrence: Scut drilling, Sterling prspect Gechemical extensin f Saddle Ridge grid t nrth Pssible fllw up drilling, Saddle Ridge Interpretatin f SAM data, sil sampling and mapping, Heathrw Gssan area, Merlin East blck Fllw-up mapping and sampling, suthern half EPM Initial field inspectins, nrthern half EPM Deep drilling t test primary mineralisatin, Flrence Bre Nrth and Flrence Bre Suth Resurce estimatin Scut drilling t test remaining cnductive anmalies in SAM extensin area Barambah: RC drilling t test the high grade epithermal vein system between 150m and 200m belw surface Drill testing f eastern vein system Esk Trugh: RC drilling t fllw-up mineralisatin at Kakap, Kiwi, White Hrse Sil sampling, Stckhaven area Lake Chandler: Onging bench-scale testing and ther investigatins t simplify prcessing flw sheet, ecnmic analysis f the prject t identify csts savings. Fr further infrmatin cntact:- Managing Directr, Dug Yung r Cmpany Secretary, Paul Crawfrd Ph (07) r visit ur website at The infrmatin in this reprt that relates t explratin results and explratin targets is based n infrmatin cmpiled by Mr D. I. Yung, wh is a Fellw f the Australian Institute f Gescientists and Ms J. J. Hugenhltz, wh is a Member f the Australian Institute f Gescientists. Bth Mr Yung (Managing Directr) and Ms Hugenhltz (Explratin Manager) are full-time emplyees f ActivEX Limited and have sufficient experience relevant t the styles f mineralisatin and types f depsit under cnsideratin and the activities being undertaken t qualify as a Cmpetent Persn as defined by the mst recent Australasian Cde fr Reprting Explratin Results, Mineral Resurces and Ore Reserves. Mr Yung and Ms Hugenhltz cnsent t the inclusin f their names in this reprt and t the issue f this reprt in the frm and cntext in which it appears. 8