Ann: CEO Letter to Shareholders, page-73

For those of you new to NVA. It's a fantastic growth play due to their large landholding full of very prospective targets. NVA could be a $1 to $2 stock based on production from Korbel / Cathederal.

Once that area is in cashflow it will self-fund development of other prospects. So NVA has speculative potential to be a long-term growth stock well beyond the initial project to be defined by PEA and then Feasibility Study.

NVA's plan is to develop an area near Korbel as a central processing hub. I envisage this will be near where the airstrip is located.



NVA won't have any trouble defining resources for growth. I mean for additional pits in the 2026 to 2035 timeframe, after they bring Korbel into operation (perhaps around 2025). Gold Road (GOR) have been heavily criticised by some shareholders and some observers for sometime due to their slow progress in adding ounces for growth. NVA won't have this problem.

I've highlighted the main target below.

• Korbel - will be the basis of the PEA and a Starter Pit operation, which in it's own right has a footprint as big as the superpit in Kalgoorlie. See Post #:49212104 .
• Cathedral - this is a higher-grade area (based on surface sampling and IP survey) at the edge of the Korbel Valley
• RPM - has a very promising historic drill hit which NVA. I think it will be easy for them to prove up 2 Moz here, maybe 4 to 6 Moz in time ( see Post #:48298586 ). It's the sheeted vein sets that are important.
• Shoeshine - this is very exciting due to some very high grade samples. One sample at 238 g/t and a 0.3m wide channel sample at 126 g/t.

RPM is about 25km to 30km from Korbel which gives you an idea of the scale of the property - and there are about 15 prospects defined by historic exploration between 1980 and 2013.




Shoeshine historic sampling below.