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IMIAK HILL (Figures 4 to 6: http://media3.marketwire.com/docs/NAN0115.pdf)

Imiak Hill was explored in the 1960's by a company called Kryolitselskabet Oresund A/S (KO) who drilled thirteen holes totaling 1234 m. Many of the holes intersected Ni-sulphides but, with the notable exception of hole Im-9, the mineralization was sporadic and it was not possible to follow it more than 60 m below surface.

NAN's helicopter-borne electromagnetic (EM) surveys, conducted in 2011 and 2012, detected strong anomalies associated with Imiak Hill. The strike of the anomalies was subparallel to the azimuth of KO's drill holes indicating the mineralization may not have been properly tested. Using the helicopter EM data, NAN laid out holes MQ-12-001 to 004 to test the anomalies perpendicular to strike. A Crone 3-component borehole EM (BHEM) system was employed to follow the mineralization in the subsurface. The results of the drilling, combined with the BHEM and historical drilling, clearly show that the mineralization strikes to the north northwest, dips vertically to steeply east, plunges to the south and is open at depth.

Hole MQ-12-001 was designed to intersect the centre of coincident VTEM and SkyTEM conductors associated with the Imiak Hill showing. The hole intersected 26.98 meters of massive, net textured and disseminated sulphide mineralization averaging 0.98% Ni, 0.44% Cu and 0.04% Co. The mineralization occurred from 5.32 to 32.30 meters down the hole, which was inclined at 45 degrees, and included a 16.64 meter interval averaging 1.36% Ni, 0.52% Cu and 0.05% Co that, in turn, included a 5.12 m section grading 2.20% Ni, 0.55% Cu and 0.07% Co.

MQ-12-002, collared at same location and azimuth (275 degrees) as MQ-12-001 and inclined at 70 degrees, intersected 66.08 meters of intermittent massive, net textured and disseminated sulphide mineralization averaging 0.55% Ni, 0.20% Cu and 0.02% Co, including a 5.15 meter section grading 1.22% Ni, 0.49% Cu and 0.04% Co and another 14.18 meter interval averaging 1.33% Ni, 0.38% Cu and 0.04% Co.

MQ-12-003 was designed to intersect the mineralized zone approximately 75 m down plunge from holes MQ-12-001 and MQ-12-002. The plunge (55 degrees south) was interpreted from BHEM data. A large exotic inclusion of unmineralized rock occurred within the norite host rock at the target depth (125 meters) A BHEM survey of the hole detected a conductor situated immediately south of the hole at the target depth suggesting that the mineralization was blocked out by the large inclusion. The only sulphide mineralization encountered in MQ-12-003 occurred between 59.29 and 67.00 meters and consisted of trace to 5% disseminated pyrrhotite and pyrite. This 7.71 m section averaged 0.18% Ni and 0.06% Cu. Historical hole Im-9 intersected 9.85 m of 2.67% Ni and 0.60% Cu approximately 12 meters beneath MQ-12-003 confirming that the mineralized trend remains open beneath the hole.

MQ-12-004 was laid out to test the top of the mineralized trend approximately 35 meters north of MQ-12-001 and 002 but did not hit any significant mineralization. BHEM results indicate that the hole passed beneath the mineralized trend. Nearby historical hole Im-2 intersected 5.51 meters of mineralization grading 1.17% Ni and 0.24% Cu approximately 20 m above MQ-12-004.

SPOTTY HILL (Figures 7 and 8: http://media3.marketwire.com/docs/NAN0115.pdf)