Annual report on EL 9928, EL 22368, EL 22369, EL 23247 EL 22447, EL 22825 and EL 22827, 20 July 2007 to 19 July 2008, Plateau Project

Abstract

During the 2007 field season Cameco conducted exploration for unconformity-style uranium mineralisation. The exploration program comprised geological reconnaissance and follow-up outcrop sampling of Tempest, Hyperspectral and radiometric anomalies. A summary of the 2007 exploration activities is provided in Table 3 on page 3 of the company report. In early 2007, Bell Geospace Ltd completed an Air-FTG(r) (Airborne Gravity Full Tensor Gradiometer) survey for Cameco Australia in Arnhem Land. The survey included three northerly oriented lines approximately 12 km long and 750 m apart, located in the western part of the project. The aim of collecting this data was to assist with understanding the regional gravity response. The only field activities carried out on the project area were geological reconnaissance, an airborne gravity survey over the western portion of the project area and outcrop sampling in the vicinity of geophysical (EM and radiometric) and hyperspectrally generated illite anomalies. Prior to the field work, data review and planning were carried out to ascertain priorities. Field work was restricted to ELs 22368, 22827, 9928 and 22447. The limited amount of work completed was governed by lack of personnel and time constraints.