Viking Mines Limited

ABN 38 126 200 280

Annual report

for the year ended 30 June 2017

ABN 38 126 200 280 CONTENTS

Corporate information 3

Chairman's letter 4

Operations report 5

Directors' report 12

Auditor's independence declaration 19

Statement of comprehensive income 20

Statement of financial position 21

Statement of changes in equity 22

Statement of cash flows 23

Notes to the financial statements 24

Directors' declaration 38

Independent auditor's report to the members 39

ASX additional information 41

CORPORATE INFORMATION Directors

Executive Chairman: John (Jack) Gardner

Executive Director: Peter McMickan Non-Executive Deputy Chairman: Raymond Whitten

Company secretary

Michael Langoulant

Registered office

Suite 2, Level 1, 47 Havelock Street West Perth WA 6005

Website www.vikingmines.com Email: info@vikingmines.com Ph: (61-8) 6313 5151

Fax (61-8) 9322 8892

Share registry

Computershare Investor Services Pty Limited Level 11, 172 St Georges Terrace

Perth WA 6000

Email: web.queries@computershare.com.au Ph: 1 300 787 272

Fax: (08) 9323 2033

Solicitor

Jackson MacDonald

Level 17, 225 St Georges Terrace

Perth WA 6000

Auditor

Rothsay Chartered Accountants Level 1, Lincoln Building

4 Ventnor Avenue West Perth WA 6005

Stock Exchange Listing

Australian Securities Exchange (ASX code: VKA)

CHAIRMANS LETTER

Dear fellow shareholders,

Your Board of Directors is pleased to present the eighth Viking Mines Limited ("Viking" or the "Company") annual report.

As we go to press, I am pleased to report that your company is in a strong cash position, for a junior exploration & mining company. Of the USD 8 million cash component of the Akoase sale, USD 5 million has been received, with a further USD 3 million expected by December.

Your directors operate with low overheads so that most funds are applied to projects. We have been actively searching for mature projects rather than greenfields opportunities, as exploration can be a risky business.

Gold offers attractive opportunities when care is taken in selection. Your directors have concentrated on the extraordinarily endowed Ashanti Gold Belt in Ghana. I am particularly pleased to note that Viking will shortly be awarded the Tumentu lease, with its drill-ready targets. We are pursuing a number of other opportunities in the Ashanti belt with the view of building a world class suite of mature gold properties.

Viking is investigating hard rock tin-lithium opportunities in the world class regional belt stretching from Myanmar through Thailand into Malaysia, Hard rock tin associated with lithium rich micas is particularly attractive in Thailand where the Government is supportive of lithium battery development.. Tin itself has become an attractive commodity and lithium continues its strong growth.

As previously advised your company seeks particular minerals including gold, copper, zinc and manganese, in jurisdictions where it expects to operate safely. We have searched in Australia but to date have not found a project of value compared with going offshore, where we can bring the extensive experience of your directors to bear.

On behalf of the Board I also thank our new investors and existing shareholders for your continued support, and we look forward to keeping you informed of our progress during 2018.

Yours faithfully

Jack Gardner Executive Chairman

Viking Mines Limited published this content on 28 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 August 2017 08:02:09 UTC.

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