Eighth and final report EL 22488 Ooratippra Area for the reporting period 3 December 2008 to 2 December 2009

Abstract

Acacia Minerals Pty Limited ACN 127 419 729 (Acacia), a Territory based exploration Company, purchased EL 22488 from Southwestern Mining Pty Limited (Southwestern). The dealing was approved under Section 173 of the Mining Act on the 4 of December 2007. Acacia is a wholly owned subsidiary of Adelaide River Resources Limited (ACN 127 411 796). Adelaide River Resources Limited changed its name to NT Resources Limited and listed on the Australian Stock Exchange, (ASX) on the 1 February 2010, raising $3,000,000 for exploration and related expenses in the Northern Territory. EL 22488 and adjoining Licences are worked as one project previously known as the 'Ooratippra Diamond Project' and now known as the Ooratippra Project. The Ooratippra Project area covers a major regional magnetic anomaly coinciding with a regional gravity anomaly within basement rocks of the concealed Altjawarra Craton that remain virtually untested. The gravity anomaly is of similar strength to those at Prominent Hill and Olympic Dam, two well-known examples of Iron Oxide Copper Gold Uranium ('IOCGU') style of mineralisation in South Australia. An alternative interpretation of the anomalies could be as either kimberlitic or carbonatite intrusions. EL 22488 expired on the 2 March 2009 and the area is now within SELA 27526. A major gravity survey and soil sampling programme are planned for July-August 2010 as part of the Company's search for an Olympic Dam style deposit. This is the eighth and Final Report covering all exploration carried out on the tenement during the eighth year and since the date of grant. EL 22488 is surrounded by competitors (Elkedra Diamonds NL, De Beers and Rio Tinto) who are actively exploring for indicator minerals and/or diamonds. The Licence area appears to be in a significant structural position and geophysical appraisal suggests that many magnetic responses within the EL could represent diamond bearing rock types. To progress these target areas further the Company is actively seeking a Joint Venture or Alliance partner. Acacia Minerals Pty Limited ACN 127 419 729 (Acacia), a Territory based exploration Company, purchased Exploration Licence 22488 from Southwestern Mining Pty Limited (Southwestern). The dealing was approved under Section 173 of the Mining Act on the 4th of December 2007. Acacia is a wholly owned subsidiary of Adelaide River Resources Limited (ACN 127 411 796). Adelaide River Resources Limited changed its name to NT Resources Limited and listed on the Australian Stock Exchange, (ASX) on the 1 February 2010, raising $3,000,000 for exploration and related expenses in the Northern Territory. EL 22488 and adjoining Licences are worked as one project previously known as the 'Ooratippra Diamond Project' and now known as the Ooratippra Project. The Ooratippra Project area covers a major regional magnetic anomaly coinciding with a regional gravity anomaly within basement rocks of the concealed Altjawarra Craton that remain virtually untested. The gravity anomaly is of similar strength to those at Prominent Hill and Olympic Dam, two well-known examples of Iron Oxide Copper Gold Uranium ('IOCGU') style of mineralisation in South Australia. An alternative interpretation of the anomalies could be as either kimberlitic or carbonatite intrusions. EL 22488 expired on the 2 March 2009 and the area is now within SELA 27526. A major gravity survey and soil sampling programme are planned for July-August 2010 as part of the Company's search for an Olympic Dam style deposit. This is the eighth and Final Report covering all exploration carried out on the tenement during the eighth year and since the date of grant. Work done included: Research; Satellite image interpretation; Geophysical Interpretation review; Sampling of magnetic anomalies; Review of results from sampling of circular topographic features; Diamond and Indicator Mineral assessment; Geochemical analysis; Land owner liaison.