Namib Lead Zinc Mine, Namibia

North River Resources holds 100% of the Namib Lead Zinc Project (NLZM), which is centred on the underground Namib Lead Mine which was previously operational from 1965-1992 The NLZM is located 25km from the town of Swakopmund and 55km from the port of Walvis Bay in Namibia. The project has a current JORC compliant resource of 1,527,000 tonnes, with resulting in-situ metal inventory of: 23,700 tonnes of lead, 65,500 tonnes of zinc and 1.48 million ounces of silver. Three ore bodies were mined previously, namely South, Junction and North ore bodies. The bulk of production was from the South and Junction ore bodies which were developed to 7.5 and 7 Level respectively (each Level being approximately 30m). The North ore body was developed to 2 Level. Additional occurrences of mineralisation are known at the N20 prospect and at numerous other surface gossan occurrences within the project area. The total LoM capital cost of the project is estimated at $27.78 and the reserve total at $278 million.