Conico Ltd. conducted its first activities at the 100% owned Mestersvig Pb-Zn-Ag Project in East Greenland (Figure 1). The crew collected ground-borne gravity data, surface samples and conducted a review of on-site facilities and material. The licence area contains the historic Blyklippen Mine that produced 545,000 tonnes @ 9.9% zinc & 9.3% lead, hosted within a vein that varies in width from 2 - 50m. Surface samples identified a newly mineralised occurrence in the east of the licence area, referred to as the `Nuldal Prospect', with two samples of massive galena collected that grade >10% lead & 225g/t silver (Sample 4958), and >10% lead & 273g/t silver (Sample 4959). Historic exploration efforts in this location identified differing mineralisation grading up to 7% copper and 0.4% zinc, further elevating the Nuldal Prospect's status as a priority target. A ground-borne gravity survey was conducted at priority areas (Blyklippen, Sortebjerg & Nuldal), covering approximately 4% of the Mestersvig licence. The survey was conducted at 200m spacing between lines, and 50m between stations. The strongest anomaly was once again at the Nuldal Prospect, with a high- density linear feature following along strike of known vein outcrop. A thorough review of historic data is detailed in this report and includes assay results for: 15 diamond drill-holes at the Sortebjerg Prospect (over a strike length of 2.9km), and 3 diamond drill-holes beneath the Blyklippen mine, and surface sampling. Work has begun on creating a 3D model of the historic Blyklippen Mine and Sortebjerg Prospect. Field personnel traversed this vein from the coastline, up the mountainside where outcrop was discovered containing massive galena (lead sulphide), hosted in a quartz vein. Two surface rock-chip samples were collected and sent for analysis. The results are show below in Table 1, and a photo of sample 4958 in Figure 2. The lead contents for both samples were above the analytical method's limits of detection and both have been sent for re-analysis using an appropriate method. It is however known that the lead content exceeds 10% for both samples, and that the silver contents are as described. The results are particularly of interest as previous explorers collected four surface rock-chip samples2 from the same vein, 200m to the south and identified oxidised sulphides containing significant copper of up to 7%. Results are listed in Table 2. The vein also extends to the north into an area referred to as `Little Lead Valley'. While no analytical results are present, a report from 1952 states " several small fissure veins outcrop in the steep western walls of Blyryggen, between 600-700m above sea-level. Some of them contain lead sulphide ". The total strike length of the `Little Lead Valley' veins and Nuldal combined is 4.5km. The gravity survey was extended to the southern extent of the Nuldal Prospect, where the vein becomes obscured by scree. There is a distinct gravity high in this location, showing what appears to be a linear feature that then bends to the southwest and has a strike length of 2km (when combined with the `Little Lead mValley' and Nuldal veins, this gives a total prospective strike length of 6.5km. The gravity anomaly is in an accessible location on flat ground nearby to Mestersvig Bay. Based on these encouraging results, the Company submitted an application to enlarge the Mestersvig licence area, encompassing all of the geology of interest for the Nuldal Prospect. The Sortebjerg Prospect is located 10km south of the Blyklippen Mine and consists of a mineralised quartz vein that contains dominantly sphalerite (zinc sulphide) mineralisation, with subordinate galena and chalcopyrite (copper sulphide). The vein outcrops at surface in four locations, over a strike length of approximately 2.9km. The field team focussed on taking surface rock-chip samples for scientific analysis to determine ore genesis, however four samples were also sent for assay and the most anomalous results being 8.35% zinc (sample 4954), and 6.96% copper & 3.42% lead (sample 4956). Activities at Blyklippen consisted of the gravity survey and collecting samples of host rock for ore genesis research. An unexpected and welcome discovery was finding the historic mine's core storage facility that contains surface and underground drill core the mine and surrounds that is remarkably intact. It is the Company's intention to re-log this core and conduct technical analysis that will aid in understanding ore genesis, and pathfinders for locating additional mineralisation. The gravity response at Blyklippen has a pronounced gravity low which is likely due to the historic mining operation where the opencut and underground operations removed the mineralised vein. A review of 2011 historic diamond drilling4 has been conducted, where three diamond drill-holes were placed beneath the historic mine workings (Figure 7). While the drill-holes did intersect mineralisation, review has highlighted that they may not have been sufficiently deep to intersect the steeply dipping Blyklippen vein, only intersecting minor parallel vein(s) located prior. This reinvigorates the potential for additional high-grade ore to be discovered at depth. A summary of the drill-holes is as follows: BK001: No significant intercepts. BK002: 1.0m @ 3.66% zinc, from 321.9m downhole. BK003: 1.4m @ 5.96% zinc & 4.97% lead, from 263.0m downhole.