Year 2 Annual Report 26 July 2011 to 25 July 2012 South Nicholson Project EL 27640, EL 27817, EL 28056, EL 28058

Abstract

NRE has conducted extensive office-based studies and field work during the second term of Exploration Licences forming part of its South Nicholson Project. Review of NRE's first term exploration activities over its South Nicholson Project led to the assessment of subsurface mineralisation indicators in relation to EL 27640 as well as follow up work required in relation to other surface prospects within the South Nicholson Project. During the second term, NRE has continued to assess the prospectivity of the South Nicholson Project with a follow up helicopter reconnaissance and further sampling programs; in particular a more extensive soil sampling survey and heavy minerals sampling program. NRE's activities during the second term have been a great success and NRE look forward to its upcoming exploration activities to be conducted during the third term.