Year 2 Annual report, 3 May 2012 to 2 May 2013, Bing Bong EL 28319

Abstract

To delineate prospective areas for base metal and uranium mineralisation and define the next phase of exploration, Natural Resources Exploration ('NRE') has carried out extensive office-based studies of EL 28319, known to NRE as its 'Bing Bong' Prospect. NRE has conducted extensive desktop reviews of all previous exploration across the area including review of all previous historical exploration reports, acquisition and interpretation of ASTER imagery and other satellite data available. Although no mineral occurrences have yet been documented in the region now held by NRE, the Bing Bong Prospect is considered to be situated in a prospective locality between a number of mineralized zones. NRE has engaged specialists to design an Airborne Magnetic, Radiometric and DTM Survey over EL 28319 and its surrounding tenures. NRE believes an airborne geophysical survey will be the most beneficial in obtaining data due to the locality and difficulty of access to the tenure. It is anticipated that the processing and supply of magnetic, radiometric and digital terrain model will allow for the identification of any potential base metal or diamond anomalies within the area.