Proposed Acquisition of Copper Exploration Assets in Botswana

Colin Bird (CEO) said: "We are very pleased with this proposed Acquisition. The Kalahari Copper Belt has been the site of recent important large copper discoveries. The Licences include tenements proximal to these discoveries and the initial prognosis for further discovery is excellent.

Relative to the average copper grade of discoveries globally, this region has the potential to develop into a major copper supplier.

The Limpopo Mobile Belt tenements in eastern Botswana are close to important nickel-copper discoveries in the area and lie on a similar trend and strike to the historic major BCL's Selebi Phikwe nickel-copper mine (~2.5% nickel), which operated from 1970 to 2008. The Licence package is extremely well placed in a good geological jurisdiction and the propensity for discovery is high.

We look forward to commencing exploration in the near future.