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Agreement to Mechanise & Expand Terranova Hard Coking Coal Mine

Highlights

- Targeting hard coking coal production within 12 months - minimum design capacity of 300,000 tonnes per annum hard coking coal production

- NAE to mechanise and expand production at the Terranova hard coking coal mine (mining exploitation contract 887T) in Colombia - project team mobilised, scoping study underway

- Conceptual JORC Exploration Target of 4.7 – 5.8Mt of medium volatile hard coking coal

- Attractive entry cost of US$20,000 in cash and shares plus royalty payments of US$7-12/t  payable on saleable production

- Third successive coking coal transaction enhances NAE portfolio plus potential for material  synergies with existing coking coal assets in the Subachoque Syncline.


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