Woodlark Gold Project – Papua New Guinea

Status: Scoping Study/Drilling

In August 2007, PRRF together with RMB Resources Limited entered into binding agreements for the acquisition of Woodlark Mining Limited from LSE-listed Gem Diamonds Ltd.

Woodlark Mining Limited owns 100% of the Woodlark Gold Project on Woodlark Island, Papua New Guinea.  The Woodlark Gold Project is an advanced stage one million ounce (measured, indicated and inferred resource) project at the pre-production reserve delineation stage.  Subsequent to acquisition, a program of resource delineation drilling is ongoing and scoping study assessments of the likely project development plan are underway.