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Red Hills, Nevada

The Nevada Project is located approximately 400km north of Las Vegas, Nevada and is highly prospective for large “multi-million ounce” Carlin-style gold-silver potential. It covers an area of approximately 10km2 and is located along an under-explored portion of the prolific +100Moz Carlin Trend. The project has shown encouraging gold and silver results in rock-chip sampling over at least 2km of prospective stratigraphy.

A programme of mapping, geochemical sampling and geophysical surveys is underway

and expected to be completed during August, with results anticipated in September.

Carinvale has entered into an Option Agreement and will have the right to earn 75% interest in the Nevada Project following its acquisition of Tojo Minerals. Carnavale has the sole right to elect to acquire all shares in Tojo, up to 28 February 2015.

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