EL 24115 and EL 24195 Bowgan Project Seventh annual report for the period 13 October 2010 to 12 October 2011

Abstract

Exploration at the Bowgan Project is currently targeting the potential occurrence of economic uranium, gold and base-metal mineralisation. Exploration activity during the current reporting period included completion of 85.076 line-kilometres of magnetic surveying (on-foot), recording of 308 point readings by hand-held spectrometer, completion of reconnaissance and detailed mapping and outcrop sampling in 8 target areas. Data collation, processing and interpretation work is currently ongoing. Detailed evaluation of exploration data conducted during the reporting period has identified 6 key targets out of the 19 originally designated targets, plus 2 additional targets. On-going exploration proposed at the Bowgan Project aimed at the generation of drilling targets in each of these areas.