Kurundi Project GR77 Combined annual report for the period 13 February 2009 to 12 February 2010 EL 23937 and EL 24995

Abstract

During the reporting period, exploration activities conducted by Northern Uranium Limited targeting uranium and phosphate on EL 23937 and EL 24995 were restricted as a result of budgetary constraints brought about by the global financial crisis. No field work was conducted and work was limited to reviewing and interpreting existing data. Several new uranium targets to the south of the historical Munadgee uranium prospect were defined from this work. Recent interpretation of the eastern portion of EL 23937 suggest that this area is not underlain by the main phosphate hosting unit in the region, the Wonarah Beds, and are thus considered to have low phosphate potential. This report only describes work conducted by Northern Uranium Limited during the reporting period.