Lucy Creek Project EL 24724 Johanssen Range annual report period ending 1 December 2007

Abstract

ELs 24724 and 24716 were granted to Arafura Resources almost simultaneously however that company naturally decided to drill test the more significant radiometric anomalies on EL 24716 before proceeding with exploration of this adjacent project tenement. As a result of the demerger process to NuPower of this asset and in delays in receiving results of that drilling and subsequent metallurgical testwork, no fieldwork has been carried out in the first two years of EL 24724. This will be addressed in Year 3 with reconnaissance of the radiometric anomalies present and assessment of the phosphate potential in the region and the potential for secondary uranium accumulation in the catchment of Arthur Creek.