Annual report for period ending 13 July 2011, EL 27519

Abstract

EL 27519 is held by Kurilpa Uranium Pty Limited, a subsidiary of Renaissance Uranium Ltd. The tenement is located approximately 120km west of Yuendumu and forms portion of Renaissance's Ngalia Basin Project. The project comprises this one granted exploration licence, and 3 exploration licence applications 200-400 km west-north-west of Alice Springs. Together the properties cover a combined area of about 1,022 km2 on the north-west and southern margins of the basin. Exploration is focused on targeting both sandstone hosted uranium deposits (Mt Eclipse hosted Bigrlyi style deposits) along the margin of the basin and shear hosted gold, base metals and uranium within the adjacent basement rocks. Consent to talk to the Traditional Aboriginal Owners on Renaissance's adjoining tenements was granted in July 2010 hence it was planned that from a general logistic and cost savings efficiencies Renaissance would wait on the availability of at least 3 tenements being granted before mounting its ground based exploration programme. Unfortunately the CLC have not held a meeting within the 12months to discuss access for these tenements. Therefore Renaissance has not yet commenced ground exploration activities and consequently the covenant of $80,000 was not met.