Annual exploration report Year 3 EL 9768 10 September 2004 to 9 September 2005

Abstract

This report details exploration activity for diamond bearing kimberlite intrusives carried out by North Australian Diamonds Limited (NADL) over Exploration Lease EL 9768 for the period 10th September 2004 to 9th September 2005. NADL acquired 100% of exploration lease 9768 in November 2004 from Rio Tinto. During the reporting period NADL was registered with Australian Securities and Investment as Striker Resources NL. The company name was changed to North Australian Diamonds Limited on 23rd August 2005. The tenement is held under Bulgurri Diamonds, which is a 100% wholly owned subsidiary company of NADL. Following acquisition of the exploration lease in November 2004 a review of available data was undertaken and a work program implemented. Field exploration activities were significantly restricted due to the timing of the acquisition and minimal opportunity for exploration until following the wet season. Field work during the period included ground reconnaissance and geological mapping of previously identified indicator anomalies.