West Kenya Project

In July 2010, Aviva Corporation Limited signed a Joint Venture Agreement with  AfriOre International (Barbados) Limited (AfriOre), a wholly owned subsidiary of Lonmin Plc, to acquire an interest in the development of its highly prospective West Kenya gold and base metals project.

Aviva has signed a Memorandum of Understanding (MoU) with AfriOre through which it can earn up to 75% of the West Kenya project.

The project area comprises two contiguous licences covering 2,800km² of the highly prospective Kakamega Greenstone belt in Kenya, part of the Tanzanian Archaean Craton. Previous exploration has identified significant potential for gold, as well as copper, lead and zinc.

The Project Area covers virtually all of the Kakamega Greenstone Belt situated in the Tanzanian Archaean Craton. It is prospective for:

• Gold: with more than 200 recorded artisanal gold prospects including historical production of more than 200,000ozs of gold. The gold potential has been confirmed by limited exploration drilling by past explorers at a number of prospects.

• Base Metals: The Bumbo Zn-Cu-Au-Ag deposit which was drilled out by the BRGM.

• Diamonds: Six known but poorly tested kimberlite pipes and several untested targets.

The licenses have retained the same boundaries since 1988 and variously held by underfunded junior explorers and/or large companies such as Lonmin focused on other commodities or regions. The project is well support by transport (road and rail to port), commercial and communications infrastructure.

Mmamantswe Project

In June 2007, Aviva Corporation Limited signed a Heads of Agreement with Mawana Minerals (Pty) Ltd (Mawana) of Botswana to enter into a Joint Venture over the Mmamantswe Coal Project, located 70km north of the capital, Gaborone.

The Mmamantswe Coal Project tenement area is positioned between the major infrastructure corridor of Botswana and the South African border. Rail, power and highway links to Gaborone and South Africa pass within 30km of the coal deposit.

Aviva and Mawana have entered into an agreement whereby Aviva will spend $US0.5M over 18 months upon which Mawana will grant it an exclusive right to earn a 90% Joint Venture interest in the project by undertaking a Bankable Feasibility Study.

Mawana will be free carried to production on its 10% interest and will have the right to take up a further 15% on a fully funded basis.  The project is an important step in building the company’s energy portfolio and would add value for shareholders.

Aviva has an established team of energy experts to develop the Central West Coal project in Western Australia and Aviva will have access to this team to advance the Mmamantswe Project.

Prior to 1983, exploration drilling by BP Coal and JCI intercepted three coal seams with a combined thickness of 23 metres between 30 and 110m depth.  The coal appears to have a very shallow dip and is structurally limited to an area approximately 7km by 4km. Coal quality test work returned energy values of between 15 and 20MJ/kg. No further exploration has been completed since 1983.

Coolimba Project

Coolimba Power is a 400-450MW base load coal-fired power station including an additional 360MW of gas fired power located 270km north of Perth in the rapidly developing Mid West region of WA. Coolimba also has plans to phase in up to 2.9 million tonnes per annum of carbon capture and sequestration (CCS) as a separate project when feasible. Coolimba will hold national and global significance if CCS is successfully integrated into the project. It will put the Mid West and WA at the forefront of setting the benchmark for a low emissions future.

It is being developed jointly by integrated energy company Aviva Corporation Limited and global power company AES Corporation, who have a diverse portfolio of thermal and renewable fuel sources, providing affordable and sustainable energy in 29 countries on five continents.

The Coolimba Power Project, based near Eneabba, will help to develop the Mid West by delivering a secure energy supply in a growing region; and energy is a key ingredient needed to make sure the region's vast resources are developed to their full potential.

Fuel for the Coolimba Power Project will be sourced from the Central West Coal deposit, 15km south of Eneabba and 150km south of the port of Geraldton. The deposit will provide a secure, long-term fuel supply for power generation and is the key to unlocking the potential of the Mid West region.

The Project will benefit from existing infrastructure in the region, including high voltage power, highway access, railway and an established mining township.

The Project is based on an existing minesite and will have minimal impact on native flora and fauna in the area. The entire Project area is encompassed by a mining lease and freehold title and is currently used for either agricultural or mining purposes.

The Project is being designed with the potential to capture and store its carbon dioxide emissions.  This would be a first for Western Australia and could potentially hold national and global significance as one of the first commercial carbon capture and storage projects in Australia.

Importantly, the Coolimba Power Project is located within the South West Interconnected System (SWIS). The SWIS services electricity customers north of Perth to Kalbarri and south of Perth to Albany. The vast majority of existing power generation in the SWIS is presently located south of Perth, in Collie.

The Project will underpin economic development and growth in the Mid West and add a third major energy source into the SWIS. It will provide base load power at competitive prices due to its low cost fuel and close proximity to growing demand.

The demand for electricity across the SWIS and particularly in the Mid West is growing rapidly. Customers for power from the Project will range from existing retailers operating in the SWIS, to large industrial and resource projects in the Mid West region. Existing and potential users in the Mid West total more than 500MW.

The Coolimba Power Station will provide approximately 8% of the installed capacity in the SWIS network and have an operating life of 30 years. Construction is planned to commence in 2010 and will extend over three years for completion in 2013/14.

Visit the project website at: www.coolimbapower.com.au

Other OpportunitiesIn addition to the Central West Coal deposit, Aviva continues to pursue other opportunities for integrated energy in Australia and Southern Africa.

Geoffrey Loftus-Hills – Chairman

Dr Loftus-Hills has 37 years’ mining industry experience, including 28 years with Western Mining Corporation and Normandy Mining Limited. His roles with Western Mining Corporation included that of General Manager Mineral Exploration (Australasia).

He has previously served as a Director of Aurora Gold Limited and Abelle Limited, Chairman of NGM Resources Limited, and is a Fellow of the Australasian Institute of Mining and Metallurgy.

Lindsay Reed, BE (mining), MBA, MAusIMM, MAICD – Chief Executive Officer

Mr Reed has more than 20 years experience in the resource sector as a mining engineer, resources analyst and business development executive. He worked for RGC Limited for eight years in a range of operational and management roles, before joining Perth stockbroker Porter Western Ltd for four years as a resources analyst. Mr Reed joined Murchison United Limited as a corporate development manager and was instrumental in the acquisition of the Renison Bell tin mine from RGC Limited. Mr Reed is also a director of MM Mining plc, soon to be listed on AIM (UK).

Robert Kirtlan – Executive Director

Mr Kirtlan has 10 years company management experience and spent seven years in Australian and global mining investment banking in Perth, Sydney and New York working for major global investment banks with a specialist role in the mining and natural resources sector.

He has a background in finance and management with small companies. He was a founding shareholder of Cooper Energy Limited, an emerging exploration and production oil and gas company, and is a substantial shareholder and director of Aviva Corporation Limited (3.5 years). Mr Kirtlan is currently a director of NGM Resources Limited (2 years) and has recently resigned from Cooper Energy Limited (4 years) and is a director of MM Mining plc, soon to be listed on AIM (UK).

Senior Manangement Stephen Jones – Chief Financial Officer

Mr Jones is a chartered accountant with over 15 years experience. He worked as an auditor with Arthur Anderson in Australia and overseas in adiverse range of industries. Before joining Aviva he was Finance Manager for Portman Ltd responsible for project analysis, corporate reporting and treasury functions. At Aviva he oversees the finance and accounting functions and is responsible the commercial, legal and financial modeling for project development.