Year 5 Annual exploration report EL 25228 for period ending 22 November 2011 Howley Creek, Rum Jungle Pine Creek Project

Abstract

Interpretation on Territory Uranium's Rum Jungle - Pine Creek Project (EL 25224, EL 25228, EL 25229) in 2009/2010 has led to the identification of three similar target areas where uranium prospective 'Rum Jungle' stratigraphy exists (the same stratigraphy as at Thundelarra's Thunderball Uranium Prospect) under recent cover within EL 25228 and EL 25229. RAB and RC drilling on all three of these targets was planned for 2010 but only the two targets on EL 25229 were tested. Significant results were returned from one of these programs including the identification of gold, uranium (with grades upto 4,244ppm) and significant REE mineralisation at the Quantum prospect on EL 25229. Also this new discovery has confirmed and improved TUC's exploration model for uranium deposits undercover. The success of the program at Quantum led TUC to review Daly prospects for REE potential resulting in further REE discovery at its Energy and Green projects EL 25222 (now renamed to Stromberg and Drax respectively). TUC is now undergoing a review of its entire holdings and surrounds of the Daly and Pine Creek Projects and has made a number of new tenement applications for similar REE targets. EL 25228 holds a key position in TUC's growing REE strategy. Further interpretation and drill program design was undertaken during year 5 and a MMP was prepared (not yet submitted). Three main target areas have been identified from geological, structural and geophysical interpretation. RAB and RC drilling of the targets on EL 25228 is planned for 2012.