Namibia, South Western Africa

The Kuiseb copper-gold project is located at the south western end of the Machless Amphibolite Copper Belt (MAB). The total known strike of MAB is 350 kilometres and Nimrod holds approximately 150 kilometres of that known strike. The 70% owned project is held through Takoradi's 100% owned Bahamas registered subsidiary, Nimrod Metals Limited.

The Kuiseb prospect was identified and explored in the past by previous tenement holders, JCI Limited and Goldfields Limited of South Africa. The company's principal objective is to establish an initial open pit, shallow underground copper/gold resource of an acceptable size and grade for early production.

The Kuiseb project covers several potential prospects, including Hope, Gorub, Anomaly and Vendome, however the Hope deposit is the principal target for the Company's current ongoing drilling program. The company commenced an exploration/evaluation drilling program on the project in September 2006 to verify and extend the known resources of the deposit by infill and step-out diamond drilling, together with a number of supporting geophysical surveys.

During the 12 months ended 30 June 2008, an additional 46 diamond drill holes had been completed at the Hope Deposit being a total of 15,918 metres of drilling. To date a total of 106 diamond holes for 34,000 metres of drilling has now been completed by Takoradi at the Hope deposit. Drilling depths have ranged between 82 metres and 627 metres.

Drilling results indicated that mineralisation at the Hope Deposit has been extended along strike for over 2,600 metres from the outcrop, 700 metres down plunge. Recent drilling has extended the known strike of mineralisation increasing the estimated Inferred Resource to 3.6 million tonnes at a grade of 2.5% Cu, 0.64g/t Au, and 8.72g/t Ag (at a cut off of 0.2% Cu).

Geophysics conducted over the project has also confirmed that the Hope mineralisation continues for over 3.2 kilometres, this being a further 1,700 metres down plunge, along strike, from the end of the current resource block estimated to date.

Geophysics has also confirmed the existence of large conductors/anomalies at the Gorob, Vendome and Anamoly prospects. These are important regional exploration targets with significant upside for potential mineralised resources that could add to the Hope deposit resource base. Limited drilling by previous tenement holder JCI, also identified Copper (Cu) and Gold (Au) mineralisation at these prospects. Further drilling at Gorob by Takoradi has confirmed the mineralised resource.

Takoradi is targeting an initial mineralised resource of 6 to 10 million tonnes at an average grade of approximately 2.5%Cu and 0.68/t As with the possibility of achieving +20 million tonnes of mineralisation based on geological analysis, thus enabling a commercial mining operation producing a mill throughput in the order of 750,000 to 1 million tonnes per annum.