The Board of Noronex Limited provided an update on the exploration of its suite of copper projects in Namibia. Noronex's exploration package in Namibia covers over 5,600 km2 of the highly prospective but relatively underexplored Kalahari Copper Belt which runs from central Namibia to northern Botswana. The tenements contain 300 kilometres of strike length targeting the key NPF-D'Kar formation contact point where most copper deposits occur on the Kalahari Copper Belt.

The focus of the current exploration efforts has been at the Witvlei project, comprising two Exclusive Prospecting Licences covering 390 km2 that are prospective for sedimentary Cu-Ag mineralisation, where drilling has recently been undertaken to test the Daheim Prospect and extensions to the Malachite Pan deposit which contains an existing JORC resource. Planning is now underway to drill Noronex's extensive claim package to the east of Witvlei including the domal structure at the Helm prospect and the Humpback Project. Daheim Model Confirmation Drilling: A follow up program has been completed to test below the overturned sandstone with two RC holes for a total of 487 m drilled.

The drill program planning has utilised detailed geological interpretations from drilling and downhole logging to test down dip below the overturned sandstone and establish the downdip continuity of the system. Hole 22DHRC27 was drilled 100m northeast of 22DHRC06 where initial assays reported intercepts of: 27m @ 1.6 % Cu from 42m in 22DHRC06 incl. 10m @ 2.5% Cu, 29m @ 0.7 % Cu from 113m in 22DHRC04 incl.

4m @ 3.3% Cu and 10m @1.0% from 162m; 31m @ 0.7% Cu from 68m in 22DHRC02 incl. 7m @ 1.7% Cu. The holes both intersected the Eskadron Formation containing oxidised red sandstones, overlying a brown and grey-green siltstone sequence as predicted at 158m in 22DHRC27 and at 250m in 22DHRC28 demonstrating an overturned mineralised sequence with a 45-degree dip to the northeast.

Both RC holes intersected visible chalcocite and chalcopyrite mineralisation directly below the predominantly Sandstone sequence. The section is dipping from downhole logging which is interpreted to be a true strike and dip of mineralisation. Hole 22DHRC027 intercepted at 158m depth a zone of 3m @ 1.3% Cu with visual chalcocite, chalcopyrite with calcareous veining hosted in siltstones.

The interval contains only trace associated pyrite. Hole 22DHRC028 intersected two zones of 3m @ 2.2 % Cu and 6m @ 0.8% Cu with chalcocite and chalcopyrite at 250m and 261m depth respectively in siltstones that is interpreted to be the first reductant, overturned. Samples have been collected in 3m composites and at 1m intervals where mineralisation was visually noted.

Samples have been prepared in the ALS sample preparation facility in Namibia and assayed at their laboratory in South Africa. A new application at the Snowball Tail Project adjoining the Snowball JV has now been granted between the Witvlei and Snowball JV projects. The tenement EPL8624 contains three historically drilled prospect areas, Sachenswald North, South and Koedesloop.

Exploration was completed by explorer EISEB Prospecting & Mining a Namibian explorer between 2011 and 2014 in Joint Venture with Cupric Canyon Capital LP. Land Access agreements are being finalised. Three diamond holes and eight vertical Reverse Circulation holes have been reportedly drilled at the Saschenwald project.

Best intercepts reported were: EISDD-02: 3.1m @ 3.3 % Cu from 31m, EISDD-03: 4.3m @ 0.8 % Cu from 17m SACR-004: 18m @ 1.1 % Cu from 10m, Ten vertical open hole percussion tests were drilled at the Koedoesloop prospect to ~60m depth by EISEB in 2011 targeting soil geochemistry. The hole reported chalcopyrite in a mafic volcanic host rock, the best result reported was: EISP-079: 2m @ 2.5 % Cu from 15m.