Annual technical report on EL 25266 Amadeus East, North Angela, for the period 19 January 2007 to 18 January 2008

Abstract

Exploration License 25266 (Amadeus East / North Angela), owned and operated by Metex Resources Ltd ('Metex'), is part of the Company's 'Alice Springs' Project, and is located 10 km southeast of Alice Springs in the Northern Territory. EL 25266 was acquired following an Australia-wide generative program targeting uranium mineralisation. The tenement is believed to be prospective for sandstone hosted roll front type of uranium mineralisation similar to the Angela and Pamela deposits. 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.