Mount Clement Gold Project

The Mt Clement Gold Project is located approximately 35km south-southwest of NuStar Mining Corporation Limited’s 541,000 ounces Paulsens gold mine and consists of three mining leases covering an area of 1573 hectares and an application for an exploration licence covering 24 sub blocks.

The Mt Clement Gold Project has been reported to contain Indicated Mineral Resources of 526,000 tonnes grading 2.4 g/t Au for 40,600 ounces Au.

Previous metallurgical tests have shown recoveries of up to 90% in the oxide material and lower recoveries (approximately 30%) in the primary mineralised zones. The majority of resources discussed above occur within the oxide zone.

The Company intends to add value to the project by conducting further drilling aimed at upgrading the resource.