Audalia Resources Limited is an Australia-based company, which is engaged in the mineral exploration and evaluation. The Company’s Medcalf Project is a vanadium-titanium-iron project located approximately 470 kilometers (kms) southeast of Perth near Lake Johnston, Western Australia. The Medcalf Project lies in the southern end of the Archaean Lake Johnston greenstone belt. The greenstone belt is a narrow, north-northwest trending belt approximately 110 kms in length. The Medcalf Project comprises of one granted exploration license E63/1855, two miscellaneous licenses L63/75 and L63/94, and two General Purpose licenses G63/10 and G63/12 as well as mining lease M63/656. Together these licenses cover a total area of 38 square kilometers. The Company has developed two products in the market from the Medcalf Project. The products include high titanium lump ore and concentrate fine ore. The Company also applied for three exploration licenses within a 30km radius of the Medcalf Project.