Fortnum West

In March 2011, RNI expanded its portfolio with an agreement to purchase the Fortnum West Project, which comprises a single Exploration Licence (E52/2568) covering an area of about 250sqkm in the Peak Hill Goldfield, about 120km north of Meekatharra.

Fortnum West lies immediately west of the cluster of gold deposits which formed Perilya Ltd’s Fortnum gold operations, which operated between 1994 and 2001 (Perilya) and 2006/7 (Gleneagle Gold). During that time the mines produced more than 500,000 ounces of gold from a number of open pit and underground operations.

Fortnum West lies immediately west of the Fortnum mining camp and includes more than 20km of the Fortnum Fault. Outcrop within the area is limited but the regional aeromagnetics suggest the sequence that hosts the Fortnum deposits should continue into the Fortnum West area. RNI’s initial exploration at Fortnum West will comprise a detailed aeromagnetic survey.

Three Rivers

RNI has the right to acquire 100% of Exploration Licences 53/2124 and 52/2562, which cover a combined area of 170sqkm located 35km north of the DeGrussa copper-gold discoveries and 15km north-west of the Plutonic gold mine in Western Australia’s Meekatharra region.

Results from a reconnaissance and orientation soil sampling traverse conducted in late 2010 at Three Rivers have shown the area to be substantially anomalous in copper, zinc, arsenic, uranium and palladium. RNI believes this broad multi-element anomalism may be related to a major hydrothermal system and could indicate the presence of a significant base and precious metals deposit. In addition, data from an aeromagnetic survey at Three Rivers identified a number of “bull’s eye” type anomalies with similar characteristics to kimberlites. This is considered significant because kimberlitic indicators minerals have been reported from previous exploration in the area.

As such, the Company believes the Three Rivers Project may also have the potential to host diamond deposits and has conducted a loam sampling program to test the magnetic targets. In January 2011, RNI commenced an intensive soil sampling program at Three Rivers which is expected to comprise more than 6,000 samples. Analytical results from this program will be released as soon as they are received by the Company.

Yule River

Under a joint venture with Brumby Resources NL, RNI holds the exclusive right to carry out exploration and mining activities on alluvial deposits on tenements covered by the Yule River Project, located in the Pilbara region of Western Australia.