Description of Business:
Northern Minerals & Exploration Ltd. (“NMEX” or the “Company”) is an emerging mineral and resource exploration company focused on both domestic and international resource exploration and developmental projects. The Company is currently dedicated to building cash flow from oil and gas production in central Texas and exploration for gold and silver on the Winnemucca Mountain Property in Nevada.
The Company has completed a geological and engineering review of its first oil and gas project and has outlined its work program to rework/re-complete the three wells on the J.E. Richey lease located in Coleman County, Texas to place these three wells into production. The Company is currently evaluating other projects for potential acquisition and/or participation.
NMEX was incorporated on December 11, 2006 under the laws of the State of Nevada. Its fiscal year end is July and is a reporting entity to the Securities Exchange Commission and is current in its quarterly and audited filings. The Company had a name change and share consolidation of 10 for 1 in August 2013.
Management’s strategy is to increase shareholder value by building cash flow and by increasing resource asset values of its projects. We believe the best way for us to generate value is to grow the business by identifying, acquiring and developing resource properties/projects in known producing areas.
Winnemucca Mountain Property Exploration Strategy
- Complement the existing data collected on the Property by conducting further exploration as recommended by the Company’s consultants.
- Objective is to define the potential of 1,000,000 plus ounces of gold equivalent on the Property and to seek the development of this property through a joint venture.
- Pursue additional properties with significant mineral potential for exploration and development.
Oil & Gas Projects Exploration Strategy
- Seek leases and/or drilling prospects that are low risk preferably with in-field drilling.
- Establish a solid cash flow foundation from oil and gas projects.
- Purchase existing production with un-drilled locations.
- Pursue strategic acquisitions with significant oil & gas potential to joint venture and/or market.
- Utilize sources for entering into joint ventures for more exotic projects including international projects with significant focus on Australian concessions.
- The Company plans to pursue new oil & gas technologies for acquisition or joint venture (enhanced recovery and water recycling technologies)