Eclipse Uranium Project EL 24808 Annual report for the year ending 9 August 2010

Abstract

This report details the exploration activities carried out over EL 24808, part of Cauldron Energy Ltd (Cauldron) Eclipse Project in the Northern Territory, during the period 10 August 2009 to 9 August 2010. During the reporting period the company continued to be involved in the Joint Systems Uranium (JSU) Ngalia Basin Project. A ground gravity survey has also commenced within the Eclipse Uranium Project, including EL 24808 and data produced will be included into the Ngalia Basin JSU Project. Cauldron is targeting sandstone hosted uranium mineralisation within the Mount Eclipse Sandstone, similar to the adjacent Bigrlyi uranium deposit, held by Energy Metals Ltd. Over the coming year a reconnaissance drilling program will be undertaken to test targets identified through the interpretation of geophysical surveys completed during the last two years.