North Australian Diamonds Limited

Kimberley Project

Within NADL's North Kimberley project area the Company had previously identified a total inferred resource of 1.57M carats, contained within the Ashmore and Seppelt 1 and 2 pipes. The Company holds these resources under mining leases, as they continue to retain commercial potential. The Company also retains 1 exploration license within this region, which is currently under application.

The Seppelt project comprises a number of related kimberlite dykes, blows and pipes constrained within a narrow corridor over a strike length of some 6km. The Seppelt 1 pipe consists of 2 lobes about 100m apart, with a combined area of approximately 0.7ha. The pipe is located 5km NE of Seppelt 2 and within the same structural corridor. An inferred resource of 1.7 million tonnes at an average grade of 38.7cpht has been identified to a depth of 140m in the North lobe and a depth of 110m in the South lobe. Peripheral breccias account for an additional 200,000 tonnes and are largely reported in the upper portions of each lobe.

Seppelt 2 is a kimberlite pipe comprised of both weathered kimberlite and infill gravels. The gravels have a variable grade of approximately 50cpht and persist to a depth of 36m. Beneath the gravels is weathered kimberlite with a grade of 211cpht. The Seppelt 2 pipe has an inferred resource of 200,000 tonnes to 200m depth. The largest diamonds recovered to date includes one 8.5ct and one 6.3ct diamond. The 8.5ct diamond, being clear, white and of gem quality, was valued at US$1,500 per carat (US$12,600).

Ongoing exploration at Seppelt is focused on the discovery of kimberlites within the already identified Seppelt structural corridor as well as the orbit area. Exploration to date has identified a number of areas where both indicator minerals and commercially sized diamond occurrences remain unresolved.

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• 7 February 2012 Appendix 3B - Issue of Shares > Read more

• 31 January 2012 Quarterly Activities Report for the period ended 31 December 2011 > Read more

• 25 January 2012 Appendix 3B - Issue of Shares > Read more

• 16 December 2011 Appendix 3X - Dr D S Tyrwhitt > Read more

• 16 December 2011 Appointment of Dr David Tyrwhitt as a Director > Read more

• 25 November 2011 Annual General Meeting November 2011 > Read more

• 25 November 2011 Results of Annual General Meeting 2011 > Read more

• 31 October 2011 Quarterly Activities Report for the period ended 30 September 2011 > Read more

• 25 October 2011 NADL Annual Report 2011 > Read more

• 24 October 2011 Notice of 2011 Annual General Meeting > Read more