WRAY MESA PROJECT

Uranium and vanadium production in the district dates back to the early 1900's with the majority of the production derived from the Upper Salt Wash Member of the Morrison Formation (the 'Formation'). Work by previous operators discovered multiple areas of uranium-vanadium mineralization in the same geologic formation that accounted for the majority of production in the district (Upper Salt Wash Member of the Morrison Formation). Mineralization on the property occurs at depths of 500 to 750 feet with the drill-defined mineralization ranging from 25 to 75 feet in thickness. Mineralization is typical sandstone-hosted tabular deposits wherein the uranium occurs in reduced and altered sandstones and sandstonemudstones in major stream channels in the Formation. Historical work dates back to Atlas Minerals and Pioneer Uravan in 1976 to 1983, who drilled a total of 495 exploration holes (of which logs for 193 holes totaling 137,510 feet or 41,913 metres were preserved), and Homeland Uranium in 2007-2008 who drilled 15 holes. Past exploration was primarily focused on the Dylan, Ajax, Whiskey and Carlin targets. All of the mineralized areas are open to expansion. Historic drill data is not available for Carlin. Areas of the Dylan and Ajax targets are held by outside parties and are not included in the Wray Mesa project claims being acquired by NCLR.