In April 2006 Impala Platinum of South Africa (Implats) withdrew from the Joint Venture with De Grey for the exploration of the Three Kings Platinum Project, which is located in the Turner River Province. Implats spent approximately $800,000 on exploration in the area but does not retain an ongoing interest.

Exploration activities for PGE mineralisation were concentrated largely at the Joshua, Joshua East, Abraham and Jacob Prospects over a 4.5 kilometre strike length. Drilling focused on delineating the continuity of a pyroxenite - peridotite contact and associated PGE mineralisation both along strike and down dip. Significant PGE (PGE = Pt+Pd+Au) mineralisation was intersected at the Joshua East Prospect with drill hole IERC46 intersecting 14 metres @ 1.32 g/t PGE from 58 metres depth. Similar widths and grades of PGE mineralisation have been intersected along strike at Joshua with,

• IERC04 intersecting 6 metres @ 1.58 g/t PGE,
• IERC05 intersecting 15 metres @ 1.39 g/t PGE,
• IERC15 intersecting 6 metres @ 2.01 g/t PGE

and at Abraham,

• IERC32 intersecting 7 metres @ 1.71 g/t PGE.