North River has an agreement with major uranium explorer Extract Resources Limited to jointly explore certain licence areas for nuclear fuels.

The principal assets involved in this agreement were EPL 3327 and EPL 3328. Brandberg Energy completed a 1,500 metre drill programme to test two uranium targets identified by horizontal loop electromagnetic ('HLEM') surveys completed in 2011.

Results from the drill programme demonstrated the presence of minor secondary mineralisation in the area. The mineralisation is restricted to the top few metres (<5m) of sporadically developed surface calcrete sheets and patchily developed calcrete gravels in one major paleochannel identified by horizontal loop electromagnetic surveys.

These results have shown that the identified mineralisation does not constitute an economically exploitable secondary uranium deposit and therefore no further work is planned. The Joint Venture remains in place and should the application to add nuclear fuels to EPL 3139 ('Ubib') be granted, Brandberg Energy will commence exploration for uranium on that EPL.