Relinquishment report EL 26006 Mount Hay for the period 14 February 2010 to 13 February 2011

Abstract

Callabonna Uranium's former JV partner Nupower Resources Ltd was responsible for management of the Mt Hay lease during the third year of its tenure. Nupower Resources Ltd collected 9 water geochemistry samples from stock bores within the exploration lease area which indicate elevated levels of uranium and vanadium. Nupower Resources Limited advised Callabonna Uranium that they had not completed the agreed work program for the Mt Hay lease shortly after the end the third year of tenure and subsequently the pertaining JV agreement has been terminated. The following data acquired by our former joint venture partners Nupower Resources Pty Ltd is presented to the NTGS for areas relinquished from EL 26006; Four water geochemistry samples; and a subset of the airborne electromagnetic geophysical data.