(NRRP) North River Resources

North River Resources plc / Ticker: NRRP / Index: AIM / Sector: Mining

18 January 2012

North River Resources plc ('North River' or 'the Company')

Update on Nuclear Fuels Agreement and Identification of Nuclear Fuels Targets 

North River Resources plc, the AIM listed resource company focussed on Southern Africa, is pleased to announce that the three conditions precedents to the joint venture agreement between Extract Resources Limited ('Extract') and North River, as set out in the announcement of 21 September 2010, have now either been satisfied or waived.

In accordance with the terms of the joint venture agreement, NRR Energy Minerals Limited, a wholly owned subsidiary of North River, will acquire a 50% interest in the issued shares of Brandberg Energy (Namibia) (Proprietary) Ltd ('Brandberg Energy'), a company established by Extract for the purpose of holding Exclusive Prospecting Licences ('EPLs') 3327 and 3328, following the payment of $800,000 by North River to Brandberg Energy, which should be completed within the next 4-6 weeks. A further announcement confirming payment of the subscription monies to Brandberg Energy and receipt of the shares in Brandberg Energy by North River will be made in due course.

Further to submission of a nuclear fuels application over the Company's licence, EPL 3139, on 27 March 2006, the moratorium on the issuance of new nuclear fuels exploration licences in Namibia remains in place and accordingly the nuclear fuel rights for EPL 3139 have yet to be granted.

North River is also pleased to announce the identification of two uranium target areas following completion of a horizontal loop electromagnetic ('HLEM') survey over EPL 3327 and EPL 3328, which are located near the old tin mining town of Uis in northwest Namibia.

A total of about 200 line km of ground geophysical surveys were carried out in 2011 using the HLEM method over areas identified as priority targets for palaeochannel style uranium within EPL3327 and EPL3328. Of these, 150 line km were carried out on EPL3327 and 50 line km on EPL3328.  HLEM traverses or lines were surveyed at 2km line spacing initially and this was reduced to 1km spacing in areas identified as having an electromagnetic response indicating possible buried palaeochannels.  Palaeochannels represent possible structural traps for secondary uranium mineralisation.

A number of target areas have been identified based on the HLEM results which are interpreted as palaeochannels of varying length, width and depth.  The most promising of these target areas are on EPL3327:

·    The priority target, 'Orawab' is interpreted as a palaeochannel at least 14km long, between 100-1000m wide and up to 50m deep.

·    A secondary target, 'Ringo' appears to include a less prominent but still significant palaeochannel to the southwest of the Orawab target; 7km long, 50-500m wide and 30m deep. The Ringo target is considered a possible downstream extension of the Brandberg uranium occurrence identified in historical literature.

Other minor palaeochannels are interpreted on EPL3327 and 3328, but the main focus for follow up will be the Orawab and Ringo targets.  No work is currently considered necessary on the historically identified Brandberg uranium occurrence due to its moderate to negative response in the HLEM work indicating a limited extent to any calcretised channel fill material.  A number of small historical pits and boreholes occur in the area, mostly within the area broadly defined as the historical Brandberg uranium occurrence, but none have been located to date in the priority target area at Orawab which is considered untested.

A 1,100m reverse circulation ('RC') programme is planned to drill test both the Orawab and Ringo targets to confirm the existence of the interpreted palaeochannels and determine whether any palaeochannel calcretised fill material identified is uraniferous.

Most of the drilling will be carried out on the Orawab target where 26 of the 36 planned vertical RC holes will test the palaeochannel along the central 9km portion, with sections approximately 1.5km apart and boreholes of between 10-75m depth spaced 200-400m apart along the section lines.

North River Managing Director David Steinepreis said, "We believe that the results of the HLEM are encouraging, indicating at least two palaeochannels of significant length, width and depth.  Both EPLs are located in a globally significant and highly prospective uranium district, and we look forward to the commencement of our 1,100 RC drilling programme, through which we hope to gain further insight into the resource potential of these nuclear fuel properties."

**ENDS**

For further information please visit www.northriverresources.com or contact:

North River Resources & the Brandberg JV

North River Resources plc is an AIM listed resource exploration and development company.  Its current portfolio includes gold, base metal and uranium assets in Namibia; uranium, and base and precious metal interests in Mozambique.  North River's strategy is to identify, acquire and develop a portfolio of resource opportunities in sub-Saharan Africa at various stages of development in order to create value for its shareholders.  The Company has a highly experienced board and management of industry and corporate professionals, led by David Steinepreis and Luke Bryan.

Brandberg Energy was established by Extract Resources Limited to explore for uranium within EPL3327 and EPL3328. The area was identified as having potential to host uranium mineralisation based on historical occurrences of primary and secondary uranium in the area and a broadly defined uranium bearing palaeochannel in literature from the early 1980s and known as the Brandberg uranium occurrence. No information is available for the historical Brandberg uranium occurrence other than its approximate location.

Horizontal Loop Electromagnetic Method

The HLEM method is a well known method for identifying palaeochannels for groundwater and has been successful in identifying palaeochannels associated with uranium mineralisation elsewhere in Namibia. While the method is qualitative in estimating depths of possible palaeochannels, experience in similar terrains allows a reasonably accurate estimation of widths and depths of such palaeochannels along the surveyed traverses.

Review by a Qualified Person

Mr. Jon Andrew, Manager-Geology for North River Resources, has reviewed and approved the technical information contained within this announcement in his capacity as a qualified person, as required under the AIM rules.  Mr. Andrew is a geologist with an Honours degree in Geology, has more than 15 years relevant experience and has been a Member of the South African Council for Natural Scientific Professions (SACNASP) for more than seven years.

North River Resources plc / Ticker: NRRP / Index: AIM / Sector: Mining

13 January 2012

North River Resources plc ('North River' or 'the Company')

Drilling Results from Tsawichas Prospect, Ubib Copper-Gold Project

North River Resources plc, the AIM listed resource company focussed on Southern Africa, announces the results of its 1,772m drilling programme completed at the Tsawichas Prospect ('Tsawichas') at its Ubib Copper-Gold Project in Namibia ('Ubib').

The objective of the Reverse Circulation ('RC') drill programme was to test the gold soil geochemistry anomalies previously identified at Tsawichas Prospect as announced on 10 October 2011.  The drilling programme was completed in November 2011 and all laboratory assays have been received for a total of 1,772m in 22 boreholes.

The drilling identified gold mineralisation in all three of the anomalous soil sampling areas (anomalies Ts1, Ts2 and Ts3).  Additionally, drilling in the river valley between anomalies Ts1 and Ts2, which was not included in the soil sampling programme, also indicated gold mineralisation.

The drilling campaign demonstrated generally low grades over narrow widths and confirmed previous diamond drilling results in the Ts1 area.  Despite proving gold mineralisation over at least 2km of strike length, the low grades and narrow widths suggest that no further work is necessary at the Tsawichas Prospect.

Best values in drill intersections were:

TSRC001               6m @ 0.87g/t (from 27 to 33m), including 2m @ 2.1g/t.

TSRC003               2m @ 1.42g/t (from 54 to 56m) and 2m @ 1g/t (from 82 to 84m).

TSRC005               2m @ 1.33g/t (from 49 to 51m).

TSRC007               4m @ 0.71g/t (from 53 to 57m), including 2m @ 1.1g/t.

TSRC008               2m @ 1.15g/t (from 11 to 13m).

TSRC012               2m @ 1.35g/t (from 3 to 5m).

TSRC015               8m @ 0.86g/t (from 53 to 61m), including 4m @ 1.5g/t.

TSRC016               2m @ 0.96g/t (from 73 to 75m).

Note: Sampling was carried out using 1m RC samples composited over 2m.

Intersections shown above are downhole thickness, not true thickness.

Bergrus and Tsawisis Soil Sampling Programmes

Further to the announcement on 10 October 2011, soil geochemistry results have been received for the soil sampling programmes completed at the Bergrus and Tsawisis Targets at Ubib ('Bergrus' and 'Tsawisis').

At Tsawisis, two areas were sampled over areas highlighted from regional magnetic data interpretation and historical reports of minor gold occurrences.  Sampling was conventional -180micron soil sampling from approximately 30cm depth (approximating to the 'B' horizon).

The sampling did not produce any anomalous precious or base metals values that were considered worthy of following up.

At Bergrus, two types of sampling were carried out over two areas of interest;

I. conventional -180micron from about 30cm depth (approximating to the 'B' horizon) over both areas (Bergrus North and South), and

II. TerraLeach™ (*) analyses were carried out on one of the areas (Bergrus South) using the -80micron sample fraction from the upper 10cm of the soil horizon.

(* TerraLeach™ is a partial digest analysis method offered by, and proprietary to, Intertek-Genalysis.)

The conventional sampling did not produce sufficient anomalous precious or base metals values for further immediate exploration work to be considered.

The TerraLeach™ sampling has defined a possible buried fault or lithological contact zone which has slightly anomalous gold values within the dataset.  These values, at present, are not considered to be of sufficient value for a follow up sampling programme.  Further work on the Bergrus South Target will depend on future results in areas along strike to the southwest.

Ongoing work on the Ubib Project in general will focus on the area southwest of the Bergrus Target where new regional targets have been identified as a result of a re-interpretation of the regional magnetics and reconnaissance visits to known copper and gold occurrences southwest of the Tsawichas Prospect.  No major ground programmes are however planned during the first two quarters of 2012.

North River Managing Director David Steinepreis said, "Following a period of exploration work across our portfolio of projects in Namibia during 2011, we look forward to receiving final results from these programmes during Q1 2012 and relaying them to the market.  Importantly, we remain well funded for ongoing exploration campaigns and look forward to providing investors with further details of our 2012 work programme over the coming months."

Review by a Qualified Person

Mr. Jon Andrew, Manager-Geology for North River Resources, has reviewed and approved the technical information contained within this announcement in his capacity as a qualified person, as required under the AIM rules.  Mr. Andrew is a geologist with an Honours degree in Geology, has more than 15 years relevant experience and has been a Member of the South African Council for Natural Scientific Professions (SACNASP) for more than seven years.

**ENDS**

For further information please visit www.northriverresources.com or contact:

Notes:

North River Resources plc is an AIM listed resource exploration and development company.  Its current portfolio includes gold, base metal and uranium assets in Namibia; uranium, and base and precious metal interests in Mozambique.  North River's strategy is to identify, acquire and develop a portfolio of resource opportunities in sub-Saharan Africa at various stages of development in order to create value for its shareholders.  The Company has a highly experienced board and management of industry and corporate professionals, led by David Steinepreis and Luke Bryan.