EL 10215 Jervois Project Annual report for year ended 5 December 2008

Abstract

Arafura Resources completed 4,840 metres of RC drilling in 45 holes in the northeast parts of EL 10215 in the first half of 2008. This exploration drilling program was designed to explore the Fe-Ti-V potential of various magnetic targets within the Attutra Metagabbro. The exploration program was cut short because of slow drill penetration rates, breakdown issues and a significant rain event. No assay results had been received at the time of writing this report. Hence in the absence of assay and DTR data, no geologically meaningful statements can be made as to the amount of vanadium or its recoverability based on the 2008 drill program. Addendum: the assays were put on hold in October 2008 and have not yet been done.