• Extensive Moving Loop EM (MLEM) survey commencing over coherent nickel anomalies defined by recent drilling over an extensive area within the Pennor mafic intrusion.

• This will be the first test for the presence of sulphide accumulations within the Pennor Intrusion and the feeder zones to Pennor and HA2.

• Detailed analysis of geochemi cal data previously confirmed that magmatic processes have occurred which are likely to concentrate nickel – copper in the plumbing system of the intrusions or in the basal area of the magmatic chambers.

Shallow, first – pass drilling at Pennor in August successfully defined an extensive area spanning 1.8km 2 of anomalous nickel values within a substantial mafic intrusive body.

A review of geochemical data from this drilling indicated that the plumbing system of the intrusion and/or the basal areas of the magma chambers are the primary target for concentrations of nickel – copper bearing sulphides.

The EM survey will provide an initial test for electrical responses from possible massive sulphide accumulations below the d epths tested in the shallow drilling. A high – powered IP survey is also being designed to test for possible large disseminated sulphide bodies, which would not be detected by EM.

The surveys will also test for possible feeder structures between HA2 and Pe nnor, which have been shown to be co – magmatic bodies by trace element geochemistry from drill samples .

Planned survey locations are shown as green lines on Figure 1 along with drilling results (previously released 17 September 2014). It is anticipated the EM survey will take 2 – 3 weeks to complete with results expected in 3 – 4 weeks.

The results are expected to assist the Company to define follow – up targets for deeper RC and diamond drilling at the Pennor Prospect.