NTL Annual Report for the Year Ended 31 March 2021

Please see attached annual Report for the Year Ended 31 March 2021 Highlights as follows: Without doubt 2020 was a year of frustrations with the impacts of Covid-19 being felt across the New Zealand economy. The stop start of lockdowns and limitations to operating at various response levels made for a challenging operating environment. Much of the world is still severely impacted by the virus while NZ is now relatively back to normal. Despite these challenges we have made progress on our revised strategy. In the first half of the year your directors and management when Covid 19 restrictions limited activities, took the opportunity to review the Company's priorities and set a course for the future. The Board determined three key areas of priority: o Identifying a treatment route of the ore o Identify a secondary source of ore to allow for economic scale of operations o Identify additional targets within the Talisman Mine and leverage off the large inferred resource outlined in the Talisman Deeps work. In the second half of the year we have begun to execute on that plan by identifying opportunities for expansion of our resource base and locating a suitable site for development of a processing plant. The market climate for the minerals industry in New Zealand during 2021 remains generally less than optimal. Your company continues to operate the Talisman Mine project in the Karangahake Gorge in a manner that recognises the values of environmental sustainability and has successfully had its access arrangement and authority to enter and operate renewed by the Department of Conservation post balance date. While the year again has been a challenging one, it is never the less one which marks the achievement of several milestones in the development of your company. Of the numerous accomplishments during the year some require particular mention : o Strategic management review of the business complete o NZ based environmentally sustainable treatment options identified for gold ore processing. o NTL secures option to purchase Broken Hills Historical Mine Ltd o Authority to enter and Operate Talisman renewed o Access agreement with Department of Conservation renewed. o Mystery planning complete and blasting to commence shortly once processing route is finalised o Work programme for exploiting further identified targets for resource development o Mystery Vein drive planned and TFM engaged to recommence at Mystery o Coromandel Gold Limited to develop exploration projects and to be listed on NZX or ASX o Coromandel Gold identify additional assets on the NZ West Coast. o Company to leverage its extensive exploration database on mineral projects in NZ to look at critical minerals opportunities. Management and the directors greatly appreciate the continued support from existing and new shareholders and note that the share trading platform Sharesies now holds 7.24% of the Company giving small investors the opportunity to participate in the development of NTL's environmentally sustainable gold projects. End CA:00374854 For:NTL Type:ANNREP Time:2021-06-30 14:11:15