Annual combined report GR201 on EL 24549, EL 25477 and EL 25479 Allamber Project for the period of 26 June 2010 to 25 June 2011

Abstract

During the year under review, a dedicated exploration program was undertaken to test the mineral potential of the project area. Exploration program involved specialised structural/geological mapping, high resolution geophysical survey, soil/rock chip sampling, drilling and assaying. A total of 18 RC holes for 1667m were drilled primarily at the Twin uranium deposit. Geological mapping and high resolution geophysical survey (magnetic, radiometric) has added much to our understanding of geological setting and has enhanced the prospectivity of the project area. To extend the resource base further, a drilling campaign will be conducted within EL 24549. High resolution geophysical survey along with mapping conducted by company geologist will be integrated in order to understand better geological setting of the project area, which may assist in finding new economic resources within project area. It is expected that geological mapping will be conducted within EL 25477 and EL 25479 along with soil/rock chip sampling. If encouraging results received then a drilling campaign will be conducted to test the full mineral potential of EL 25477 and EL 25479.