Annual Reports EL 23937 for the period 13 February 2007 to 12 February 2008 and EL 24995 16 August 2007 to 12 February 2008

Abstract

This report details exploration activities conducted on tenements EL 23937 and EL 24995 between 13 February 2007 and 12 February 20086. EL 24995 is only a narrow sliver. The tenements are held by Washington Resources Limited and there is work being done by Northern Uranium Limited pursuant to an agreement in relation to uranium only. Washington Resources Limited retains the rights to all other minerals on the tenements and is solely responsible for activities directed at those other Minerals. During the reporting period, exploration activities were conducted on EL 23937 and EL 24995. These include desktop geological mapping and field verification, rock chip sampling, pegging of proposed drill holes and flagging drill access tracks, an aboriginal heritage survey, clearing of drill lines and access tracks, drilling of 23 reverse circulation drill holes and 7 air core holes with the analysis of 507 drill samples, 83 rock-chip samples and 24 petrographic samples for analysis and description. Exploration activities on EL23937 and EL24995 were also carried out by Washington Resources Limited during the reporting period. Their work completed in the current reporting period included; Air Core drilling, 171 bores for 1736 metres with 1736 x 1 metre samples assayed for Bi, La, Li, Mo, Sb, Sn, Ta, U, W and Hg; Rock chip sampling, 179 samples assayed for 50 elements; Termite mound sampling, 68 samples assayed for 16 elements; Geophysics; in addition to an airborne survey of total magnetic intensity and radiometrics flying between the lines of the earlier NTGS survey to provide detail, a ground-based scintillometer survey with 66 total-count readings taken with a hand held scintillometer; Air photo geology interpretation study commenced. In the Air Core drill program; at the Hill of Leaders significant W grades were intersected beneath alluvium up to several hundred metres from the historic mines; elsewhere within the Licence anomalous W grades were located up to 4.5 kms northwesterly and 17 kms southeasterly, respectively, from the Hill of Leaders. Termite mound and rock chip sampling were shown to have potential for pathfinder geochemistry. Ultraviolet night lamping located evidence of scheelite mineralisation away from the historic mines in the Hill of Leaders area. The work completed will provide a sound basis for further exploration.