The Mt. Narlee Property (Exploration License 00016) consists of 822 Sq. Km in the O'Driscoll G2 Corridor of South Australia. The property is jointly owned by Caldera Resources and Ellendale Resources.

Simberi can earn a 60% interest in the Project by issuing 1,500,000 common shares and spending C$1,250,000 in exploration on the property over the next 3 years. The Project will then transfer to a joint venture with Simberi as operator.

• Simberi - 60%
• Caldera - 20%
• Ellendale - 20%

Mt. Narlee property has a regional gravity anomaly that requires detailed ground follow up and a Magnetic Geophysical Survey. Simberi will be conducting this work in the near future.

Simberi is expecting to complete its Aboriginal Work Clearance Survey on Mt. Narlee in December 2007 which will allow further work to be completed.