KING RIVER PROJECT

NORTHERN TERRITORY

Exploration Licence 5891


ANNUAL REPORT 2003


CONFIDENTIAL







Date:		May 2004

Report No.:	AW04-05

Period:	13 May 2003 to 12 May 2004

Authors:	P Melville Senior Project Geologist
		G Otto Geologist 111
		G Beckitt   Geophysicist

Copies:    	DBIRD Minerals and Energy
		Cameco Australia Pty Limited Master File
		NLC
		Cameco Corporation