Year 2 Annual Report 10 August 2011 to 9 August 2012 Jervois Project GR177, EL 27846, EL 27847, EL 27897 and EL 28082

Abstract

NRE has conducted extensive office-based studies and field work during the second term of Exploration Licences forming part of its Jervois Project. NRE conducted an extensive review of all previous exploration within the Project area, completed two (2) helicopter reconnaissance assisted field trips, geological mapping of the area, sampling programs (heavy mineral, soil and rock chip sampling) and a ground magnetics sub-audio magnetics (SAM) survey. Several copper mineralised lodes have been identified which represent the on-strike continuation of lodes currently being drilled with great success in Kentor Gold's Jervois copper-lead-silver deposit which is located in close proximity to NRE's Jervois Project. NRE believes that the Jervois Project offers the opportunity to delineate significant base metal mineralisation, positioned in a location close to Alice Springs which offers excellent logistics and access to infrastructure. NRE is looking forward to lodging and receiving approval of its Mining Management Plan in order to commence its limited drilling program and other exploration activities during the third term of its Jervois Project.