Summary of the SAMREC CodeThe South African Code for Reporting Exploration Results in terms of Mineral Resources and Mineral Reserves was established and shaped in the year 1998 on the JORG model, which is the Australian Mineral Resources and Mineral Reserves Code. The fundamental purpose of the code is to establish minimum standard recommendations and guidelines for any public reporting of an exploration project. The code was developed by the SSC Committee Working Group, with the help and support of the South African Institute of Mining and Metallurgy (SIAMM) and the Geological Society of South Africa (GSSA) (SAMREC, 2007). The Committee SAMREC is made up of various stakeholders such as SACNASP representing SAIMM and the Johannesburg Stock Exchange (JSE). The primary purpose of the SAMREC Code is to provide investors and their advisors with correct and actionable information and to meet regulatory requirements. This encourages companies to provide in their reports complete, relevant and material information necessary to achieve reasonable and balanced exploration results. (SAMVAL, 2008) The code lays the deep foundation for a meticulous, unmistakable and ethical account of all styles, thus offering a great service that is not misleading regarding the reported mineralization and also provides knowledgeable people with the important code to to undergo. The SAMREC Code is based on three pillars which form the basic principles of an exploration report (prepared in terms to address South African circumstances only.) (SAMREC, 2007) (SAMVAL, 2008) • Transparency, provides sufficient information and a clear and understandable and non-misleading presentation.• Materiality contains...... half of the document ......or the parties involved in the assignment;• A statement that the Competent Assessor has (or has not has) carried out a personal inspection of the property; and• A register of competent persons and experts who contributed to the assessment.• Market assessmentA full market assessment should be submitted.• Audits or reviewsThe results of any audits or reviews of the mineral resource assessment should be submitted, together with a comment on the results. It is very important that every company or competent assessor complies with the SAMREC Code. This provides a perfect platform for a successful exploration project.Works CitedSAMREC. (2007). The 2007 SAMREC Reporting of Exploration Results, Minerals Res. South Africa: n/a.SAMVAL. (2008). The SAMVAL CODE. South Africa: South African Working Group on Mining Valuation.