The Company owns a 58% economic interest in the Ulugan Nickel project. This deposit is also located on the island of Palawan and consists of two Exploration Permit applications covering more than 16,000 hectares. Pending granting of the Exploration Permits little work has been undertaken on this property.

Together, Berong, Celestial/Ipilan and Ulugan represent world class projects with a combined pre-JORC1 resource of some 350 million tonnes at 1.3% Ni and an estimated total nickel content of more than 4.5 million tonnes. The deposits offer the potential to recover both limonite and saprolite ore.