Partial relinquishment report over the West Batchelor Uranium Project

Abstract

The tenement was granted to Whitvista Pty Ltd on 29 April 2009 and on 18 January 2012 Eclipse Uranium became the owners of Whitvista through the acquisition of Central Energy Ltd. In March 2010, GPX Surveys commenced a fixed wing airborne magnetic and radiometric survey for Whitvista Pty Ltd over the West Batchelor project area in the Northern Territory. The survey area was approximately 10 km southwest of Batchelor. The survey was flown using a Cessna 210 fixed wing aircraft with registration VH-TIJ. Much of the area flown is still retained. During April 2013 consulting geologists Kastellco Geological Consultancy conducted a review of existing historical exploration data within the Northern Territory Geological Survey Database. This was conducted for over the Project area to identify any potential for base metal - uranium. The results identified of 2 major iron targets that warrant further work immediately. Based on the review a total of 62 percent of the tenement was to be relinquished based upon more favorable iron ore targets within Exploration Licence area.