1. NEVADA, USA

CARLIN EAST PROJECT

LOCATION: North Carlin Trend. 6km NNE from Leeville-Turf Deposits

The Carlin Trend in Nevada is recognised as host to the largest and most productive accumulations of gold deposits in North America and ranks as one of the richest gold regions in the world. Numerous mines occur within this 60-km trend and include Barrick's Post-Betze open pit and Meikle underground operations, and Newmont's Carlin and West Leeville/Turf underground operations.

The Carlin East Project comprises 247 claims held by Genesis Gold Corp over which Navaho Gold holds  an option agreement enabling it to purchase a 100% interest.  The claim block lies approximately 6km to the NNE of Newmont's Leeville gold mining operation and the adjacent Turf deposit. Notably, the Leeville-Turf mineralisation occurs at a depth of 480 -780m below surface.

Although some previous drilling was carried out there is no evidence that this drilling was deep enough to test the target Lower Plate carbonate rocks.  The favourable structural setting, proximity to known gold deposits and coincident anomalous pathfinder geochemistry coupled with the understanding that the prospective Lower Plate carbonate rocks have never been drill tested makes this a compelling exploration project.

UTAH CLIPPER PROJECT

LOCATION: Cortez-Pipeline sector of the Battle Mountain Trend.  2.5km NW from Pipeline open pit mine

The Utah Clipper Project is located directly adjacent to Barrick's Pipeline-Gold Acres gold mine complex, in the Cortez-Pipeline sector of the Battle Mountain Gold Trend, Nevada

Past production plus reserves at Pipeline-Gold Acres in addition, to Barrick’s nearby Cortez Hills deposit discovered in 2003, is more than 25 million ounces of gold. The project is subject to a farm-in agreement with Columbus Gold Corp whereby Navaho Gold can earn a 70% interest subject to third party net smelter return royalties.

Historic deep drilling at the Utah Clipper project has located Carlin-style mineralization in the Lower Plate rocks.  Further deep drill targets remain to be tested in a favourable structural setting with coincident Gold, silver, arsenic anomalism at surface. This anomalism is interpreted as possible “leakage” from underlying mineralisation in prospective Lower Plate rocks. Further adding to the prospectivity of this target are projected trends from geophysical data which suggest that the mineralisation at the Gold Acres and Pipeline deposits trend into the Utah Clipper project.

TOBIN PROJECT

LOCATION: 16km SE from Goldbanks deposit.

The Tobin Project is subject to an agreement with Genesis Gold Corp whereby Navaho Gold can acquire a 100% interest in the project. 

The claims lie approximately 16km to the SE of the Gold banks deposit hosting low-sulphidation epithermal gold mineralisation.  Tobin is considered prospective for both Carlin-style and low-sulphidation epithermal gold mineralisation.

Strong silicification with anomalous geochemistry (up to 2.3 g/t gold) has been delineated for over 3 kilometres along the Natchez Pass-Osobb Formation contact zone and presents an attractive target zone for follow-up work.  Exploration by Navaho Gold will include detailed geological mapping, rock chip sampling and grid-based detailed surface soil sampling along the contact zone.  Exploratory drilling will be carried out on any resultant anomalous zones identified by the surface sampling.

STEVENS BASIN PROJECT

LOCATION: Battle Mountain-Eureka Trend.  9km SW from Barrick's Archimedes/Ruby Hill mine

The Stevens Basin Project is located in Eureka Mining District on the Battle Mountain Trend. The area is subject to a farm-in agreement with Columbus Gold Corp whereby Navaho Gold can earn a 70% interest in the project.   

Stevens Basin is an unusual gravel-filled semi-circular basin, approximately 10-13 km² in area. Surrounding this basin are hills of Palaeozoic sedimentary rocks which, along its northern margin, consist of mainly Devonian limestone containing areas of altered and mineralised intrusive rock and siltstone float.

Samples of outcrop/float of jasperoid (silicified limestone) return assays of up to 2.5 g/t gold.  Grid-based surface geochemical sampling highlighted a pronounced gold anomaly (>100ppb) which arcs around the base of a small hill for 760m. The strong tenor of the geochemical anomaly and its trend, coincident with potential major structural features, make it a compelling prospect.

Exploration activities by Navaho Gold include a ground gravity survey and acquisition of airborne magnetic data which has enabled a structural interpretation and the optimisation and selection of drill sites.  Under the terms of the agreement, drilling is planned to commence no later than May 2011 (weather permitting).

ROSE MINE PROJECT

LOCATION: Battle Mountain-Eureka Trend.  14km SW from Barrick's Archimedes/Ruby Hill mine

The Rose Mine Project lies on the Battle Mountain-Eureka Trend. Navaho Gold has entered into an agreement with a Renaissance Gold Inc whereby Navaho Gold can earn a 70% interest in the project.  The project is characterised by strong silver enrichment  along a zone over one  kilometre in length located on the edge of the pediment 12km SW of the Ruby Hill Mining District.

Previous drilling in 2007 intersected anomalous gold and silver in this zone with one hole (AR07-03) returning 6m of 3.38 g/t silver and 0.910 g/t gold from 122m depth and a second (AR07-02) hitting 44m of 3.07 g/t silver and 258 ppb gold from 24m depth.  Mineralisation in the latter drillhole remains open and indicates that mineralisation trends under pediment cover to the north and east. These results confirm that in addition to the high-grade silver mineralisation evident on the project, a disseminated gold style also exists.

Exploration by Navaho Gold will initially focus on drill testing the southern gold and silver anomalous area and the open-ended gold mineralisation especially where it trends to the east under pediment cover.

Exploration over the remainder of the project will include detailed geological mapping, rock chip sampling and grid-based detailed surface soil sampling together with detailed ground geophysical surveys namely gravity. The application of ground geophysics and soil sampling techniques will help in generating targets under the shallow pediment cover over areas previously unexplored. This will be followed by drill testing.

WHITEHORSE FLATS PROJECT

LOCATION: 8km NE from Kinsley Mountain Mine

The Whitehorse Flats Project is located 43 km south of Wendover. This project is subject to a farm-in joint venture agreement with Columbus Gold Corp whereby Navaho Gold can earn a 70% interest.

Detailed surface sampling within a large cap of silicification approximately 2.1 km long delineated a significant mineralisation area approximately 165m long and 60m wide with 16 samples ranging from 0.32 to 1.82 g/t gold. The silicification and mineralisation is thought to dip under shallow gravel pediment cover and provides an attractive exploration target.

Previous drilling in 1981 located a number of mineralised zones under the pediment.  Approximately 550m SW from the mineralised zone described above, a drillhole intersected 6.1m averaging 0.64 g/t gold from 43m. Another hole intersected 3m averaging 0.5 g/t gold from 18m within a wider interval of 9.2m averaging 0.24 g/t gold on the east side of the outcrop.

Exploration by Navaho Gold will focus on the silicified and anomalous gold area under the pediment.  Exploration will include detailed geological mapping, rock chip sampling and grid-based detailed surface soil sampling to define the overall shape and size of the anomaly.  Ground geophysical techniques such as gravity or magnetics will be used to trace structural trends under the pediment cover. Drilling will be carried out on any resultant targets.

TAZ PROJECT

LOCATION: Battle Mountain Trend.  3km E from US Gold's Gold Bar Deposits

The TAZ project is located on the southern portion of the Battle Mountain-Eureka Gold Trend, 25 km SE of the Cortez Hills deposit (a +10 million ounce Carlin-style gold deposit that went into production in 2009), a district with 14.1 million ounces in several Carlin-style deposits.

Navaho Gold has entered into a non-binding letter of intent with Miranda Gold Corp whereby the parties have agreed to negotiate a binding agreement whereby Navaho Gold can earn a 70% interest subject to a number of underlying net smelter return royalty rights.

Previous exploration by BHP Minerals involved drilling Hole (VC96-8) which intersected 21.3 m of 1.44 g/t gold from 65.5 to 86.9 m, within a zone of 41.2 m averaging 0.86 g/t gold from 65.5 to 106.7 m within Devils Gate Limestone.  Step-out drilling proximal to VC96-8 returned lower grade gold over narrower intervals. The units known to host the gold mineralisation in the nearby Gold Bar deposits (>1 million onces gold) are located stratigraphically below the Devil's Gate Formation.

This suggests that the previous drilling at TAZ has not been deep enough to intersect the most prospective host sequence.

An immediate drill target involving deeper drilling in the vicinity of hole VC96-8 to explore potential mineralisation hosted in the underlying prospective formations will be Navaho Gold’s initial focus.

2. QUEENSLAND, AUSTRALIA

TEXAS PROJECT

LOCATION: SE Queensland

The Texas Project comprises four granted tenements and eight tenement applications covering approximately 3,273 km² located approximately 80km SW from Warwick in southern Queensland.

A particular feature of the Texas area is the presence of gold-(silver) mineralisation with Carlin-like affinities. Both of the Twin Hills/Silver Spur silver deposit (owned by Alcyone Resource Ltd) and, Warroo gold-copper deposit (where Navaho Gold have a competing application) have similarities to Carlin-style mineralisation and together with the Company's large tenement position offers the opportunity for Navaho Gold to discover new gold mineralisation on the district-scale.

In 2010, Navaho Gold conducted first–pass, broad-spaced stream sediment geochemical sampling over a large part of the previously un-sampled area and has generated several multi-element (including arsenic and gold) anomalies. One area in particular stands out as being of high interest near the Catfish Creek gold prospect. This anomaly extends over a strike length of approximately 10km on a major structural trend 30km NW from the Silver Spur deposit.

Navaho Gold intends to carry out geological mapping, surface geochemical sampling and possibly geophysical surveys to follow-up existing arsenic anomalies to identify targets for drilling.

BOWEN PROJECT

LOCATION: Bowen Basin, Queensland

The Bowen Project comprises two granted tenements and seventeen tenement applications covering approximately 4,045km² on the eastern edge of the northern section of Queensland's Bowen Basin.

The Bowen Project has many of the geological parameters to be prospective for a new gold province hosting Carlin-like mineralisation.

A first-pass broad-spaced drainage sampling program  carried out by Navaho Gold in 2010 has identified a significant multi-element (As-Sb-Hg-Bi-Cu-Pb-Zn) anomaly extending over a distance of approximately 21km and defined from 14 samples.  This anomalous area occurs immediately north of mineralised jasperoids returning 17 g/t gold identified in historic work in an area of key structural intersections and south of a porphyry intrusion hosting copper mineralisation.

Navaho Gold intends to carry out further detailed geochemical surveys, geological mapping and ground geophysical surveys over the anomalous areas identified to date to identify targets for drilling.

CANDLOW PROJECT

LOCATION: Georgetown District,  NE Queensland

The Candlow Project comprises three tenement applications covering approximately 955 km² on the western edge of the Georgetown Inlier, NE Queensland.

The main target lithologies are the pyritic, carbonaceous sediments of the upper part of the Mesoproterozoic Candlow Formation which have similarities to the host rocks of the large Carlin-style gold deposits in Nevada.

Previous drilling in the 1970's identified the presence of spotty gold anomalism within the Candlow Formation with values in channel samples up to 17.8 ppm gold within black, carbonaceous, pyritic siltstone.

At the Munitions Creek gold prospect historic shallow drilling returned 4m averaging 2.73 g/t gold from 13m, 1m averaging 10.85 g/t gold from surface and 24m averaging 0.26 g/t gold from 19m within the Langdon River Mudstone which occurs stratigraphically above the prospective Candlow Formation.

The Munitions Creek prospect represents a drilling target to test the prospective Candlow Formation beneath the previous gold intersections in the overlying Langdon River Mudstone.  In addition geochemical sampling will be undertaken to trace potential extensions of the gold mineralisation under shallow alluvial cover to the east and to evaluate the other regional arsenic anomalies over the prospective Candlow Formation particularly where areas of thin alluvial cover are adjacent to such arsenic anomalies.

NICHOLAS MATHER
NON-EXECUTIVE CHAIRMAN

BSC (HONS,GEOL), MAUSIMM

Nick Mather’s special area of experience and expertise is the generation of and entry into undervalued or unrecognised resource exploration opportunities. He has been involved in the junior resource sector at all levels for more than 25 years. In that time he has been instrumental in the delivery of major resource projects that have delivered significant gains to shareholders. As an investor, securing projects and financiers, leading exploration campaigns and managing emerging resource companies Mr Mather brings a wealth of valuable experience.

Mr Mather is currently CEO (and co-founder) of Solomon Gold plc (AIM), Managing Director and co-founder of D’Aguilar Gold Limited (ASX), Non-Executive Director of Bow Energy Limited (ASX), AusNiCo Limited (ASX), and was Non-Executive Chairman and founder of Waratah Coal Inc (TSX-V) prior to its take-over in late 2008 by Clive Palmer’s Mineralogy Pty Limited group.

As an Executive Director (and co-founder) of Arrow Energy NL until 2004, Mr Mather was responsible for the generation of its Surat Basin Coal Bed Methane project. Arrow Energy now has a market capitalisation of over $3.5 billion.

Previously as CEO of BeMax Resources NL, Mr Mather was instrumental in the discovery of the company’s Pooncarie mineral sands project in 1998. BeMax Resources now has a market capitalisation of over $275 million.

Mr Mather has also been a Non-Executive Director of Ballarat Goldfields NL, having assisted with the recapitalisation of the company in 2002. Ballarat Goldfields was recently taken over by Lihir Gold Limited at a value in excess of $300 million.

MARK DUGMORE
CEO & MANAGING DIRECTOR

B.APP.SC, MSC, MAUSIMM

Mark Dugmore is a qualified geologist with in excess of 25 years experience in the resources industry.  Mr Dugmore has substantial exploration and operations experience having worked in a wide range of commodities and operating environments both within Australia and offshore where he has been involved in the discovery and commercial development of several mineral deposits.

A significant proportion of his career to date was spent with BHP where he held numerous senior technical and managerial roles.  As Manager Exploration, Global Base Metals he was responsible for setting the global strategic direction for his portfolio, management of a local and international network of offices and assessment of global opportunities. More recently, Mr Dugmore has been involved in project generation and project acquisition for numerous private and public companies that have involved gold, copper, tin, tungsten, molybdenum and coal acquisitions.

BOB SKRZECZYNSKI
NON-EXECUTIVE DIRECTOR

BSC, MSC, MAUSIMM

Robert Skrzeczynski has 38 years experience in the minerals exploration industry and has held numerous senior management positions.  Between 1971 and 1984, as District Geologist for Eastern Australia with Utah Development Company he was responsible for gold, base metal, tungsten and some coal exploration activities and the greenfields discovery of the Watershed tungsten deposit in North Qld

From 1984 to 2001, at BHP Minerals Exploration he held the positions of Group Leader Base Metals Australia, Group Leader SW Pacific, Exploration Manager Eastern Australia and SW Pacific, and Commercial Manager, Exploration for Australia, Africa, Asia.  He was team leader for the Greenfields discovery of the Eloise Cu-Au deposit, Cannington Ag-Pb-Zn deposit and Townsville Au deposit (Ok Tedi). Also responsible for exploration activities at Ofi Creek Porphyry Cu-Au deposit (PNG) and Reko Diq Porphyry project in Pakistan.  Responsible for numerous bench-mark commercial deals for BHP with both major and junior companies in Australia, Asia and Africa and negotiated the first commercial JV with an Indian company (Hindustan Zinc).

Mr Skrzeczynski has a successful exploration discovery record and extensive experience in commercial aspects of the exploration industry.  He has also assessed and negotiated commercial opportunities, and been responsible for global strategic direction and budgets, in addition to concept generation and testing.

BRIAN MOLLER
NON-EXECUTIVE DIRECTOR

LLB (HONS)

Brian Moller is a corporate partner in the Brisbane based law firm HopgoodGanim. He was admitted as a solicitor in 1981 and has been a partner since 1983. He practices almost exclusively in the corporate area with an emphasis on capital raising, mergers and acquisitions.

He holds an LLB Hons from the University of Queensland and is a member of the Australian Mining and Petroleum Law Association.

Mr Moller acts for many public listed resource and industrial companies and brings a wealth of experience and expertise to the board particularly in the corporate regulatory and governance areas.

Mr Moller is currently a Non-Executive Director of ASX listed D’Aguilar Gold Limited, Platina Resources Limited and AusNiCo Limited, and Solomon Gold plc, which is listed on the London Stock Exchange (AIM).

BEN HARRISON
NON-EXECUTIVE DIRECTOR

BSC, MAppFin

Mr Harrison is an associate director with Bizzell Capital Partners. Prior to joining Bizzell Capital Partners he worked in the corporate finance team at a leading corporate advisory firm where he was involved in a number of high profile capital market and M&A transactions in the resources and industrial sectors. Prior to this Mr Harrison worked as an equities analyst specialising in the minerals and energy sectors.

Mr Harrison commenced his career as a project manager for an international engineering consulting firm, working on a number of large infrastructure projects in Australia and Southeast Asia.   He has experience in project management, financial analysis, primary and secondary market transactions and M&A.  Mr Harrison also has experience in private equity and direct investments and is involved at board and management level in investee companies on behalf of Bizzell Capital Partners and its related entities.

Mr Harrison holds a Bachelor of Science, a Master of Applied Finance and Investment and is a member of the Financial Services Institute of Australasia.

PRIY JAYASURIYA
CHIEF FINANCIAL OFFICER

Priy Jayasuriya is a Chartered Accountant with over 15 years of experience in public practice and has broad experience over a number of industries. Priy has worked as a chartered accountant in Australia, Singapore and the United States of America and brings a range of expertise in the areas of due diligence, internal control, corporate governance, international financial reporting and statutory compliance.

Having started his career with Ernst & Young, Priy has gained significant experience in mergers and acquisitions, with a strong background in financial management and reporting. Priy holds a Bachelor of Commerce from the University of Queensland and is a member of the Institute of Chartered Accountants in Australia.

Priy works closely with the CEO, COO and Company Secretary on the day to day financial affairs of the company.

KARL SCHLOBOHM
COMPANY SECRETARY

B.COMM, B.ECON, M.TAX, CA, AICD

Karl Schlobohm is a Chartered Accountant with over 20 years experience across a wide range of industries and businesses. He has extensive experience with financial accounting, corporate governance, company secretarial duties and board reporting.  Over the past 5 years, Mr Schlobohm has acted as CFO and/or Company Secretary for a number of ASX-listed resource companies including Linc Energy Limited, Discovery Metals Limited and Meridian Minerals Limited.

He is currently contracted to act as the Company Secretary for ASX-listed D’Aguilar Gold Limited and AusNiCo Limited, and the LSE(AIM) listed Solomon Gold Plc.

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