North River Resources Plc

North River Resources plc is an AIM listed emerging southern African focussed multi commodity resource development company. Its strategy is to identify, acquire and develop a portfolio of resource opportunities in sub-Saharan Africa at various stages of development in order to create value for its shareholders. Its current portfolio includes significant gold, base metal and uranium assets in Namibia and uranium, gold and copper assets in Mozambique. The Company’s key shareholder is AIM listed Kalahari Minerals plc, which holds a circa. 40% interest in North River. The relationship between the two companies was formed when North River acquired Kalahari’s gold and base metal assets in November 2009. The intention is now to develop these assets, on which £8 million has been previously spent by Kalahari on exploration and evaluation. The Company also has a joint venture agreement with major Australian uranium explorer, Extract Resources Limited, to develop three uranium licences in Namibia. Through this agreement, the uranium licences known as EPL 3327, EPL 3328 and EPL 3139, which have had preliminary drill testing demonstrating the potential to host secondary uranium deposits, will be advanced by the North River team and drawing upon the extensive experience in the uranium sector of the Extract team.