Annual and final report for EL 2857, year ending 18 March 2007

Abstract

This report outlines exploration work undertaken on EL 2857 for the year ending 18th March 2007, the fifth year of tenure. This document also serves as a final report for the tenement, which Cameco will surrender effective 19th March 2007. For details of all previously conducted exploration work please refer to the annual reports compiled by Cameco for the period 6 September 2000 to 5 September 2005. Exploration work carried out during the reporting period consisted of a single diamond core hole drilled to a final depth of 293.7m. Initial targeting was based on airborne hyperspectral, which indicated the presence of illite alteration within a fault bounded block of partially exposed basement. The hole intersected coarse porphyroblastic granite throughout. A tabulation of all activities carried out during the life of the licence has been included.