In 2005, MBMI entered into a joint venture agreement with Palawan Alpha South Resource Development Corporation (Alpha) under which MBMI can earn a major interest in the Alpha nickel property. The 3,277 hectare property is located in Palawan, Philippines and is adjacent to MBMI’s Bethlehem nickel laterite property.

Drilling and exploration was conducted during the 1970’s by Pacific Metals Company (Pamco) of Japan, Olympic Mining and Development Corp. and its affiliates, and in 2001 by QNI of Australia. Evaluation of historic drill results and geological data on the Alpha property has allowed MBMI’S Philippine subsidiaries to identify primary drilling and bulk sampling targets.