Report prepared by AECOM on behalf of NZG Limited for the Phase 2 drilling investigations completed within MP 53078 during Nov 2013 and Jan 2014 near Mikonui River, West Coast. This investigation is a phase two of three phase drilling program to infill, extend and verify existing resources within the mine permit area. Total 37 drillholes were drilled, out of which 7 sonic drillholes were completed as part of the geology and geotechnical investigations to define ground parameters for mine and infrastructure design and to undertake groundwater monitoring. Rest are RC drillholes and were drilled as part of the resource drilling program. In addition, the company is progressing studies on resource estimate, select mining equipment, establish environmental baselines and other assessments necessary to apply for and obtain consents for mining.