Nabarlek Group Project EL 24564 Nabarlek West, EL 24868 Nabarlek North, EL 28245 Nabarlek West C Annual report for the period 27 September 2010 to 26 September 2011

Abstract

This report details exploration activities for the Nabarlek Group tenements comprising EL 24868, EL 24564 and EL 28245 for the 12 month term to 26 September 2011. The Nabarlek Group tenements are subject to a Joint Venture agreement between UXA Resources Limited 51% and RIL (Australia) Pty Ltd 49% where UXA has been appointed as the project operator. The tenements are considered prospective for unconformity style uranium mineralisation analogous to known unconformity related uranium deposits located throughout the Alligator Rivers Uranium Field. During the first year of tenure, exploration activities comprised a desk top review of historical works completed by previous explorers and research on known uranium deposits within the region, an orientation and field mapping exercise, a 1,927 line kilometre airborne GEOTEM electromagnetic survey covering all tenements, a hyperspectral remote sensing survey covering all tenements, a 548 sample point Alphatrack radon cup survey and coincident 559 sample point geochemical sampling survey covering an area approximately 19km2 within EL 24868, RC drilling of 27 holes totaling 2308m located within EL 24868 and adjacent to Cameco's U40 prospect , gamma logging of 22 drillholes, chemical assay of 559 soil samples, chemical assay of 42 one metre composite drill chip samples with elevated radioactive content and chemical and petrological analyses of 6 selected drill chip samples for lithological identification.