Monument Diamond Project

Lac de Gras, NWT

The Monument Property is strategically located on the south shore of Lac De Gras NWT. Kimberlites of the Monument Property form part of the Lac de Gras cluster and occur within 40 km of both the Ekati Diamond Mine and Diavik Diamond Mines Ltd., which together produce a noteworthy percentage of the world’s diamond production.

The Monument property has twelve known kimberlites. Drilling on land based targets during recent programs found several new kimberlites including Genie, Bling and most recently the Trio, Gemini and Sparky kimberlites. Drill sampling in 2007 of RIP extracted larger samples where 2,201.7 kg of kimberlite produced 955 diamonds including the largest diamond found to date from the Monument property weighing 0.445 carats. On the DD17 kimberlite, 2,137.6 kg of kimberlite produced 964 diamonds.

Most recently, the Spring 2009 program conducted ground geophysics to establish targets prior to ice drilling. In the northern zone, land-based kimberlite Trio was tested with one diamond drill hole and 13 RC holes that cut kimberlite and host rock to define the dimensions of the Trio kimberlite dike. On the nearby DD42a kimberlite, drill core samples from three diamond drill holes resulted in a combined sample of 199 kg. Each drill hole stopped short in kimberlite due to technical problems encountered by diamond drillers. Additional diamond drilling on kimberlite magnetic targets DD42b, DD42c, and DD42d is required. Follow-up diamond drilling is also required on several narrow kimberlite intervals from prior drill programs where new strategically placed holes could prove the anomalies as kimberlite pipes.

The Monument project owners are 57.49% New Nadina Explorations Limited, 22.11% Chris and Jeanne Jennings and 20.4% Archon Minerals Ltd. (Stu Blusson). 1% NSR is payable to each DHK Diamonds Inc. and International Royalty Corp. New Nadina Explorations Limited is the operator of the project.

HISTORY RECAP

Property is located at Lac de Gras, 300 km north of Yellowknife, accessible by float and ski plane and winter ice road. It was staked in 1992 by DHK Diamonds Inc. (“DHK”) and worked from 1992 to 2003 by Kennecott Canada Exploration Inc. (“KCEI”). New Nadina acquired the property in 2004 at which time there were five known diamond bearing kimberlites on the property (DD17, DD39, DD42, DD2002, DD17-11). In 2004, the Company and partners took the three claims, DHK 16, 17, and 18 to lease, acquired a Land Use Type A Permit and commenced active exploration in 2005. A new permit application will be submitted prior to the next drill program as the current permit expires September 2011. The Monument Joint Venture has since discovered eight diamond bearing kimberlites: Sonja, Nic, Rip, Bling, Genie, Trio, Sparky, and Gemini. There are currently four reference zones or strings, the northern, central, southern and eastern, of kimberlite clusters. Along with diamond drilling, various types of geophysics have been conducted as well as closer spaced till sampling searching for kimberlite indicator minerals. An all season camp is positioned on the south shore of Lac de Gras.

Northern Zone: The Trio and DD42 string are in the north on the south shore of Lac de Gras. The DD42a is the most westerly and most recent under water target tested of the DD42 string of geophysical targets. A further winter program is necessary to test the remaining targets and acquire kimberlite for diamond content and analyses.

Central Zone: The largest kimberlite within the string is DD17 and is just over a hectare in size. It is located in the middle of the central zone in close proximity to two pipes to the west and three to the east. There are component similarities of the kimberlites in this string with diamond recovery ranging between 434 to 594 stones per tonne. The central zone is the most tested to date and consists of Sonja, Nic, DD17, RIP, Bling and DD17-11.

South Zone: The south zone contains kimberlites DD39, Sparky and Gemini. Within this zone remain at least two untested targets. The core samples from these pipes have produced samples of 473, 458 and 422 stones per tonne.

East Zone: There is also a cluster of small targets in the zone near the east boundary where the Genie kimberlite is located.

Monument property: Microdiamond recovery from core samples to date:

The largest diamond recovered from the RIP kimberlite measures 3.68 x 3.44 x 2.88 mm, weighs 89.129 mg. which is 0.445 carats.