Point Stuart Project EL 27701 Annual Report for the year ending 8 October 2011

Abstract

This report details the exploration activities carried out over EL 27701, the Point Stuart Project in the Northern Territory, during the period 8th October 2010 to 7th October 2011. On 17 February 2011 Eclipse Uranium Limited acquired the Point Stuart Project upon its successful listing with the ASX. Since this date the company has focused predominantly on collecting background data for the project which includes open file reports, geophysical and geological data from the Northern Territory Geological Survey. This data has been used for project review and target generation. A field trip to the project area was planned with the purposed of understanding the logistical requirements of exploration on the project, geological mapping and sampling, where appropriate, and meeting the landowners to establish good working relations. This was completed In July 2011. It has recently been determined that this tenement may need to be re-granted to Eclipse as there has been a problem with the initial grant of the tenement. Eclipse currently awaits further information from the Titles Department. The tenement contains a historic radiometric anomaly called 'Jimmy's Creek' which was identified using radiometrics and requires further investigation.