Nippon Mining of Australia Copper Joint Venture Projects

Targeting copper – gold in the world class Mount Isa Region (GBM 45.2% interest)

GBM is the manager of the Joint Venture and retains a free carried interest of 10% through to completion of a bankable feasibility study (BFS). These projects are part of a Farm-In JV arrangement and to date they have sole funded A$16.8 M of exploration on the JV. Nippon Mining Australia (a subsidiary of JX Metals Corporation) can elect to spend up to A$55 M and deliver a BFS to earn up to 90% of the projects.