Ministerial Visit to Mine Site June 2015

Ministerial site visit, June 2015 attended by a large delegation including the Namibian Minister of Mines and Energy in Namibia, the Honorable Obeth Kandjoze, and the Governor of the Erongo Region, the Honourable Cleophas Mutjavikua

North River is a mineral exploration and development company active in Namibia and Mozambique. The Company is focussed on re-opening its flagship asset, the Namib Lead & Zinc Mine, a fully permitted project near Swakopmund in Namibia and commenced construction in early 2018.

The project has a current JORC resource of 1,120,000 tonnes, with resulting underground in situ metal inventory of:

• 25,900 tonnes of lead
• 74,200 tonnes of zinc
• 1.66 million ounces of silver

NRR proposes a staged mine production development, with a reduced construction capital, ramping up in accordance with the resource expansion resulting from ongoing exploration activities. The new implementation plan proposes a Q1 2018 construction start and with an initial production of 7,200t zinc and 2,500t lead in phase 1 of the project development, with future expansion planned.

The construction period will be less than 1 year with an 8 year mine plan proposed based on a mining inventory of 885kt of ore mined.

The project has a JORC compliant Probable Ore Reserve of 611,000t ore containing 6.6% zinc and 2.3% lead. The project received a 10-year Mining Licence from the Ministry of Mines and Energy in May 2017.