Annual exploration report Year 1 EL 24192 7 December 2004 to 7 December 2005

Abstract

This report details exploration activity for diamond bearing kimberlite intrusives carried out by North Australian Diamonds Limited (NADL) over Exploration Lease EL 24192 for the period 7th December 2004 to 7th December 2005. NADL acquired 100% of exploration lease EL 24192 in February 2005 from Rio Tinto. During part of the reporting period NADL was registered with Australian Securities and Investment Commission 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 work during the period included ground reconnaissance and geological mapping of previously identified indicator anomalies, drill testing of one anomaly and the collection of three follow-up stream gravel samples.