The Langpan project is located in the province of Limpopo in South Africa, between the towns of Northam and Thabazimbi on the Farm Langpan 371KQ. The Langpan Farm is adjacent to Anglo American Platinum's Dishaba and Tumela Mines (previously known as Amandebult Mine as well as Northam Platinum Mine).

Samancor Chrome Limited (Samancor) hold a Chrome prospecting right over the farm Haakdoorndrift 374 which adjoins Memor's Langpan project to the east. Chronimet Mining AG (Cronimet owns and has been operating the Thaba Cronimet Chrome - Platinum Mine (Thaba Mine) to the west of Langpan project.

The project is accessible through the R511 road linking the towns of Brits and Thabazimbi. Infrastructure in the area is generally well developed due to the presence of the well-established platinum and chrome mines and the Kumba Iron Ore mine situated outside the town of Thabazimbi. This includes a railway line that passes to the immediate west of the project area.

Regional Geology:

The Kaapvaal and Zimbabwe cartons in Southern Africa are characterised by the presence of large mafic to ultramafic layered complexes. By far the most important and economically viable of these is the Bushveld complex (BC) which was intruded 2.06bn years ago into the rocks of the Transvaal Supergroup along the unconformity between the Magalieburg quartzites and overlying Rooiberg felsites. The total estimated area of the BC is 66 000km squared (about 55% of which is covered by younger formations. The mafic rocks of the BC can be divided into a number of units according to their representative gravity anomalies. These include the northwestern and southwestern lobes, separated by the Pilanesburg Alkaline complex; and the north eastern and south eastern lobes that are separated by the Steelpoort fault.

The mafic rocks (collectively known as the Rustenburg layered suit - RLS) can be divided into five zones known (from the top downwards) as the Upper Zone (UZ), Main Zone (MZ), Critical Zone (CZ) and the Marginal Zone. At the base, the marginal zone consists of generally finer grained rocks than those of the interior of the complex and contains an abundance of xenoliths.

It is highly variable in thickness, may be completely absent in some areas and contains no economic mineralization. The chromite layers are confined to the critical zone and are subdivided into the lower, middle and upper groups. All the layers of the lower group (LG) occur within pyroxenites of the lower critical zone. The middle group (MG) of layers occur at the transition from the lower to the upper critical zone, at a level where plagioclase first becomes persistently cumulus within the whole BC sequence. The Mg chromite layers are either hosted by pyroxenites or by plagioclase-rich norites and anorthosites. The UG of layers occurs within the upper critical zone below the Merensky Reef. The western BIC contains seven LG, four MG and two UG layers.

The most productive layers for chromite have been the LG6, MG4 and MG2 horizons.

Local Geology:

The project area comprises of two distinct chromite mineralisation areas, namely, a southeastern portion and a western graben in which the LG and MG chromites are exposed respectively. The majority of the project area's eastern side is covered by the pyroxenites of the critical zone with the northern parts being covered by quartzites, diabase rocks and shales of the Waterberg Supergroup.

The western block has the entire chromite sequence of the LG6, MG1, MG2, MG3, and MG4 seams. A major fault that lies in the South western portion of the farm displaces the chrome reefs by 1.7km's to the south east. This has resulted in the displacement of the MG chromites present in the south western corner of the project out of the Langpan farm boundary in the south east.

The chrome reefs, as intersected in the trenches, have a northeasterly/southwesterly strike and dip at 20-22 to the southeast. The LG is, on average, 0.83m thick and the thickness of the MG chromites ranges from 0.39 - 1.58m.

There are several exploration pits that were developed for the exploration of the Lower Group (LG) chromites on the Langpan project and the adjoining Hakdoorndrift farm.

The mineral occurrence reviewed on the Farm Langpan 371KQ concentrated on the LG and MG seams of the BIC. The seams described were the LG 1, LG 7 and MG 1 to MG 4. In addition, sub-seams were identified and designated with alpha numerical characters where principle seams had split.

The Langpan mineral deposit is classified as an Inferred Resource and Exploration Target. This conclusion has been determined through quantitative and qualitative interrogation of the exploration results, including geological modeling and statistical analysis of the exploration data available for individual seam quantities and qualities.

The mineral deposit has reasonable prospects for additional exploration programmes to improve the confidence in the mineral occurrences and could potentially upgrade the deposit to an economic mineral resource category, this is due to the continuity associated with this type and style of mineralisation.

To provide potential investors with a balanced view, it is noted that the potential quantity, quality and content of the Langpan mineral deposit, is at this point in time, conceptual in nature as additional exploration is required to define an economic Mineral Resource. In addition, the SAMREC code requires me to to inform potential investors that although the opinion is that there is reasonable potential for upgrade, it is uncertain if further exploration will result in the determination of an industry compliant mineral resource.