North Australian Diamonds Limited

Corporate Governance

The Directors of North Australian Diamonds Limited support the establishment and ongoing development of good corporate governance for the Company and the consolidated entity. In August 2002 the Australian Stock Exchange established a Corporate Governance Council (CGC) and in March 2003 the CGC put forward a number of best practice recommendations.

These best practice recommendations are embodied in ten corporate governance principals which have been broadly adopted by the ASX and the Financial Community generally. The recommendations are not prescriptions and are intended as guidelines only.

The board has sought to apply the recommendations to the extent relevant to the consolidated entity's size and scale of operations. This statement sets out the corporate governance practices in place which comply with the recommendations of the corporate governance council unless otherwise stated.

The board has adopted the following policies:

• Board Charter
• Code of Conduct
• Audit Committee Charter
• Nomination Committee Charter
• Remuneration Committee Charter
• Communication with Shareholders Policy
• Continuous Disclosure Policy
• Trading in Securities Policy
• Risk Management Policy

• 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