Bardoc Project - Base Metals

Recently the Company identified through the nickel drilling program, two zones of strong base metal mineralisation that may represent possible VHMS (Volcanic-Hosted Massive Sulphide) style deposits (such as the Jaguar Deposit 200kms to the north) at its Bardoc Project. Results received from the sampling of two previously drilled holes were up to 0.34% Copper, 1.06% Zinc, 6.2g/t Silver and 1.0g/t Gold. The two drill holes were initially used to test two very strong EM anomalies (Eastern and Western) each being approximately 4 kilometres long (see attached map).

On the northern end of the Eastern Anomaly the only hole to have tested it, intersected a sulphide rich zone of 3m @ 0.22% Copper, 0.86% Zinc, 3.9g/t Silver and 0.52g/t Gold from 183 metres. This intersection is 14 metres down the same hole that discovered the Marmont Gold prospect and consequently is also being followed up in the current drill program.

Similarly the only drill hole to have tested the Western Anomaly intersected a zone of 47 metres averaging 0.34% Zinc from 217 metres. This area has only been broadly drilled for gold and the potential to host a base metal deposit remains untested.

The Bardoc area is like much of the rest of the Eastern Goldfields Province of Western Australia which has not been explored for Base Metals for over 20 years (as seen similarly for Nickel). The geological region is broadly similar to the Superior Province of Canada which also contains World-Class deposits. The recent vast improvement in EM techniques now allows more effective exploration; hence opportunities such as the Eastern and Western anomalies can now be identified.

The Company is actively seeking Joint Venture Partners to fund further drilling campaigns to test the potential of these two large anomalies to host a high valued VHMS deposit rich in one or more of the elements Copper, Zinc, Silver and Gold.

Recent drilling by the Company for Gold at the Marmont prospect has intersected further VHMS (Volcanic-Hosted Massive Sulphide) style mineralisation with a best return of 1m @ 0.18% Copper, 0.96% Zinc, 2.0g/t Silver and 0.15g/t Gold from 69 metres within felsic volcanics intermixed with sediments.

In addition, surface mapping to the south of Marmont has identified the continuation of the base metal zone with gossanous grab samples returning values such as 0.33% Copper, 0.39% Zinc, 0.08% Lead, 16.2g/t Silver and 0.74g/t Gold and 0.54% Copper, 0.47% Zinc, 0.04% Lead, 0.3g/t Silver and 5.97g/t Gold in an area 400 metres to the south. In the second area a further 200 metres south, gossanous grab samples returned such values as 0.07% Copper, 0.29% Zinc, 0.3g/t Silver and 6.14g/t Gold and 0.09% Copper, 0.28% Zinc, 0.3g/t Silver and 13.5g/t Gold.

Nickelore believes these results are quite significant and that they further enhance the potential of the Bardoc project to host a high valued multi-commodity VHMS style deposit similar to the Jaguar Deposit some 200kms to the north. The Company continues to actively seek a Joint Venture Partner to fund further exploration on these targets.