Project Overview

Navigator Resources Limited's objective is to build value for shareholders by becoming a highly regarded and profitable gold producer with a pipeline of advanced projects.

To achieve this objective, Navigator's main focus is the 950,000 ounce Leonora gold project, Western Australia, where our goal is to commence a high-margin mining operation in early-mid 2010.

To facilitate early production, an aggressive drilling strategy has focused on shallow ounces amenable to open pit mining. This strategy has resulted in the discovery of three 2 kilometre gold systems that are in various stages of resource definition and which offer excellent scope for economic development.

Pre-feasibility studies have advanced to the stage where a preferred development scenario has been resolved. The Company envisages the establishment of a standalone carbon-in-leach (CIL) gold treatment facility, with a capacity to treat at least 1Mtpa, at Merton's Reward. Further metallurgical testwork is being undertaken to streamline the process parameters and independent resource estimates and mining studies are continuing. The pre-feasibility study is scheduled for delivery in February 2009.

Our strategy for our East Kimberley assets is based on low-risk value creation via joint venture and resource establishment. This strategy is typified by the definition of a rare earth resource from first pass drilling at Cummins Range and two free-carried nickel-platinum joint ventures with Magma Metals Limited.