EL 24993 Ooratippra Third annual report 11 August 2008 to 10 August 2009

Abstract

Southwestern Mining Company Pty Limited (Southwestern) was granted EL 24993 on the 11th August 2006. Principal reason for the acquisition was the Company's belief that the area is highly prospective for diamonds with some prospectivity for base metals. Subsequent work has reduced the prospectivity for diamonds but enhanced the area for base metals and phosphate. In 2007, the Licence was transferred to Acacia Minerals Pty Limited, a wholly owned subsidiary of public company, Adelaide River Resources Limited. In November 2009, the Company changed its name from Adelaide River Resources Limited, to NT Resources Limited and in December 2009, lodged an application to list on the Australian Stock Exchange (ASX) to raise funds from public investors for future exploration. Tenements will continue to be held and operated under the Company's wholly owned subsidiary Acacia Minerals Pty Limited. EL 24993 adjoins EL 25019 and EL 22488 which together with EL 24822, are explored simultaneously as the Ooratippra Diamond Project. In July 2009 the Licence was halved with the surrender of one hundred and six (106) blocks. On the 4th of August 2009 SEL 27526 was applied for covering all of the Company's Ooratippra Exploration Licences including EL 24993. On August 7th 2009, the remaining 50% of the licence was surrendered, thereby becoming part of SELA 27526. Exploration during the first 3 years of tenure indicates that, while the area is still prospective for diamonds, it is more prospective for base and noble metals. Future exploration will concentrate on the search for Olympic Dam style mineralisation. This report covers the exploration work carried out on EL 24993 for year three and during the tenure of the Licence to the 7th August 2009. Work done in year three includes: Satellite Image interpretation; Identification, reconnaissance and sampling of Circular features; Geophysical Interpretation; Identification of topographic features being possible kimberlites; Ground radiometric reconnaissance and sampling of magnetic anomalies; and Land-owner liaison.