Partial relinquishment report on EL 24115 and EL 24195

Abstract

The Bowgan Project is located in the Barkly Tablelands region of Northern Territory, approximately 250 km northeast of the regional centre of Tennant Creek. The Project consists of two contiguous exploration licences; EL 24115 Bowgan and EL 24195 Benmara. A third exploration licence; EL 24196 Creswell Downs is located southwest of the other two licences and is reported on separately. Exploration at the Bowgan Project is currently targeting the potential occurrence of economic Uranium, gold and base-metal mineralisation. During August 2010, a partial surrender was conducted consisting of 2 blocks on EL 24115 Bowgan and 12 blocks on EL24195 Benmara. The partial surrender was conducted as part of the tenement renewal 6th anniversary, date 25th August 2010. The current standing for EL 24115 is 33 blocks and for EL 24195 is 20 blocks. No exploration activity was conducted on the surrendered portion of EL 24115 (Bowgan) or EL 24195 (Benmara) by Bowgan Minerals Limited.