Annual technical report on EL 25265 'Ngalia East', for the period 19 January 2007 to 18 January 2008

Abstract

Exploration License 26265 (Ngalia East), owned and operated by Metex Resources Ltd ('Metex'), is part of the Company's 'Alice Springs' Project, and is located approximately 200 km northwest of Alice Springs in the Northern Territory. The tenement area is believed to be prospective for sandstone hosted roll front uranium mineralisation similar to the Bigrlyi Deposit. EL 26265 was acquired following an Australia-wide generative program targeting uranium mineralisation. The tenement was granted on 19th January 2007, for a period of six years. Work by Metex on the tenement during 2007 included: - Open-file report and data review; - Acquisition, reprocessing and interpretation of available digital geophysics data by Southern Geoscience Consultants.