Annual combined report GR199 on EL 24561, EL 25283, EL 25334 Ngalia Project for the period 22 July 2010 to 21 July 2011

Abstract

During the reporting period, Element 92 Pty Ltd - Thundelarra Exploration Ltd commenced drilling and completed AEM survey of the project area. Samples retrieved during drilling were assayed for a suite of elements. Assay data supported last year's drilling campaign and discovered an important uranium prospect known as Afghan Swan. It also involved MMI soil sampling, assaying, data processing and data base development. During the next reporting period, it is expected that drilling campaign will continue along with assaying of samples retrieved. Further data processing and interpretation will be undertaken. In addition, subsurface geological map of the project area will be prepared in order to work out stratigraphic horizons for uranium mineralisation.