The Board of Noronex Limited provided an update on the exploration of its suite of copper projects in Namibia. Witvlei Drilling: The focus of the current exploration efforts is on five targets on the Witvlei project, comprising two Exclusive Prospecting Licences (EPLs 7028 and 7029) covering 390 km2 that are prospective for sedimentary Cu-Ag mineralisation. The initial program has now been completed and further work is being evaluated and will be finalised when full results have been received for the drilling.

The program has included 71 RC holes for a total 13,947m. Daheim Results from the first eight holes completed have now been received from Daheim with results pending for the final five holes of 2,718m drilled. Intercepts include: 27m @ 1.6 % Cu from 42m in 22DHRC06 including 6m @ 2.9% Cu; 29m @ 0.7 % Cu from 113m in 22DHRC04 including 4m @ 3.3% Cu and 10m @ 1.0 % Cu from 162m; 31m @ 0.7 % Cu from 68m in 22DHRC02 including 7m @ 1.7 % Cu Results are reported above a 0.3 % Cu cut-off with 3m and 6m of internal dilution.

Including all of the mineralised intervals Hole 22DHRC04 now reports without dilution reports 153m at 0.39% Cu from 34m and Hole 22DHRC06 reporting 112m at 0.44 % Cu from 42m. The holes intersected the Eskadron Formation containing brown siltstone and at contact with a thick oxidised red sandstone. Mineralisation is strongly developed at the first siltstone above this sandstone reporting 27m @ 1.6 % Cu in 22DHRC06 with values up to 4% Cu over 1m.

The bedding and mineralisation is interpreted to dip steeply to the south but no orientated core is available yet to understand the mineralisation style. A diamond drilling program will be considered after further infill RC drilling. Malachite staining was intercepted from surface in hole 22DHRC005 and oxidation is down to approximately 20m vertically with fine pyrite, chalcopyrite and chalcocite developed in the siltstone horizons at depth below.

A fence of holes was drilled 400m east on a separate geochemistry anomaly and holes 22DHRC001 and 22DHRC007 have intersected a number of copper horizons including 3m @ 0.9 % Cu from 110m indicating the mineralisation is laterally extensive. The prospective Sandstone contact was not tested and further detailed mapping and soil sampling is underway to better define this target. A further fence of holes drilled 800m to the west demonstrates a 1.2 km strike of mineralisation where 22DHRC008 has intersected a number of copper horizons including 4m @ 0.4 % Cu from 40m.

The continuity and prospectivity between these zones is unclear and further work including soil sampling and ground magnetics is planned to assist in targeting the next phase of drilling. Samples have been collected in 3m composites and at 1m intervals where mineralisation was visually noted. Samples were prepared in the ALS sample preparation facility in Namibia and assayed at their laboratory in South Africa.

Results from holes 22DHRC009 to 013 are still pending. Drilling has been completed for the time being as the rigs move to Snowball. A further program is being planned to follow up anomalous geology intersected in the initial 13 holes drilled.

An infill soil survey is being planned prior to further work as samples are on a 400 by 80m grid which will be close up to 100m lines and 40m samples over anomalous areas with a combined pXRF and analytical survey. Snowball Joint Venture Drilling A program of nine holes have now been completed for 1,758m on the eastern tenement at Hennep to test the prospective NPF-D'Kar contact and the chargeability anomalies defined. Drilling intersected thick Kalahari sands of 70-90m depth which was successfully cased and the holes reached target depths of 200m intersecting a sequence of both oxidised sandstones and finer siltstone horizons.

No mineralisation or strong alteration was noted. The IP chargeability anomaly may have been caused by clay horizons within the Kalahari sand cover sequence. Further IP lines are being assessed but detailed ground magnetic surveys are now planned as this appears to define the prospective horizon most effectively.