Scandinavia

A private company registered in Australia in October 2008, Newgenco Exploration (Fennscandia) Pty Ltd (“NEF“) is focused on Ni-Cu-PGE opportunities in Scandinavia.

In November 2008, NEF signed a 3-year strategic exploration targeting alliance with TSX- and LME-listed First Quantum Minerals to explore for large magmatic nickel-copper-platinum group element (Ni-Cu-PGE) sulphide resources in Finland, Norway and Sweden.

First Quantum is one of the world’s fastest growing copper producing companies and 100% owner of the Kevitsa Ni-Cu-PGE deposit in northern Finland.  Construction works and update of the resource model at Kevitsa have advanced on schedule during 2010 Q3

As at end Q1 2011, regional exploration in the area north of Kevitsa is returning encouraging results. Twenty-two geophysical targets have been tested by base of till drilling in 2,400 shallow holes. Several Cu-Ni-PGE anomalies coincident with magnetic features are highlighted. Three targets are currently being tested by diamond core drilling with seven holes completed. Disseminated and net textured magmatic Cu-Ni sulphides have been reported in several holes.

Regional reconnaissance exploration continues.

Officers

Managing Director: John Simmonds

Exploration Manager – Targeting: Rebecca Sproule

Exploration Manager – Projects: JP Hunt

Mailing address

Level 2, Suite 18, 100 Railway Road WA 6005 AUSTRALIA