ARNHEM LAND WEST MANYALLULUK PROJECT EL 9452 ANNUAL REPORT CONFIDENTIAL Date: June 2005 Report No.: ML05-01 Period: 4 May 2004 to 3 May 2005 Authors: Gavin Otto, Project Geologist Paul Melville, Senior Project Geologist Geoff Beckitt, Geophysicist Copies: Cameco Corporation (1) Cameco Australia Pty Ltd (1) DBIRD Minerals and Energy (1) Northern Land Council (1)