EL 24992 Mamadawerre Project Annual report, 2 September 2011 to 1 September 2012

Abstract

This report documents exploration work conducted during the fourth year of tenure. Exploration for unconformity style uranium mineralisation consisted of helicopter-supported outcrop sampling and reconnaissance work, historic data review and regional structural framework study. 25 rock samples were collected, of which 7 returned values of greater than 200 ppm U3O8, with the best result held in MW002 which returned 5612 ppm U3O8. A proposed Helicopter Diamond Drilling program designed to test mineralisation previously identified by Cameco was postponed, due to the inability to secure preferred chopper and drilling contractors post acceptance of the work program by the NLC, with the meeting not held until the 25 July 2012, and subsequent approval of the MMP (Authorisation received 17 August 2012) by DOR. Drilling on this tenement is expected to commence in May 2013.