Annual technical report EL 24637 Eclipse Uranium Project 18 December 2011 to 17 December 2012

Abstract

In June 2012, a major managerial and geological staff change took part in the company with a completely new team taking over key positions. The new team was keen to explore the Ngalia Basin and has since taken office been involved in a thorough desktop geological analysis and re-assessment of all of EPM's tenements, including the Eclipse Uranium Project (and EL 24637). Due to time constrains, since taking office 8 months ago, no follow field work was feasible on the ground by the new technical team of EPM. This time has been used to start an in-depth desktop analysis of EL 24637's geology and associated data. Though still in progress, the analysis to date has already provided the new team with a strong base on which to build the new exploration program planned for the upcoming year. However, due to an inability on the part of Eclipse Metals Ltd. to pay the scheduled annual rent in December of 2012, EPM has been issued by the Northern Territory Department of Resources a cancellation notice. EPM is awaiting cancellation of EL 24637. Hence, no further exploration work will be planned in 2013 for EL 24637 by EPM.