Annual exploration report - year 2 Exploration Licence 24192 7th December 2005 to 7th December 2006

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 2005 to 7th December 2006. NADL acquired 100% of exploration lease EL 24192 in February 2005 from Rio Tinto. The tenement is held under Bulgurri Diamonds, which is a 100% wholly owned subsidiary company of NADL. Field work during the period included ground reconnaissance of identified indicator anomalies and the collection of fifty-five follow-up soil geochem, loam and stream samples.