Venus Metals Corporation Limited (Venus) is engaged in the exploration of mineral tenements in Western Australia. The Company�s projects include Yalgoo Iron Ore, Argyle Smoke Creek Alluvial Diamonds, Telfer North (iron oxide-copper-gold), Argyle North (diamonds/base metals), Moodini (iron oxide-copper-gold) and Copper Hills. During the fiscal year ended June 30, 2012, the Company had 16 granted exploration licenses and 24 prospecting licenses. The Yalgoo Iron Ore Project (YIOP) is placed within Western Australia�s Mid-West Iron Ore Province, 80 kilometers north of the Gindalbie Metals� Karara Iron Ore Project. The Argyle Smoke Creek Alluvial Diamond Project area comprises 22 granted prospecting licenses (PLs). The Argyle North Project comprises granted exploration license E80/3253. The Telfer North Super Project comprises six granted exploration licenses: E45/3435 (Citadel), E45/3398 (Radi Hills), E45/3396 (Mt Morris), E45/3436 (Wallal), E45/3523 (Bulgamulgardy) and E45/3754.