PLATSEARCH NL

Marmota Energy Limited announce that high levels of uranium continue to be intercepted from drilling at its new uranium prospect on the Junction Dam uranium project in northeastern South Australia. In drilling completed last week, three more holes returned peak eU3O8 grades of more than 1000 ppm. The best hole was JDRM0121, in which a high grade intercept returned a peak grade of 3226 ppm eU3O8 (13040.8 counts per second). This hole is 200 metres south of the previous weeks high grade intercept of 7551 ppm eU3O8 (30,519.60 counts per second) in hole JDRM0118. Other drill holes that returned large distinct peaks of above 1000 ppm eU3O8 from the downhole gamma tool include holes JDRM0111 and JDRM 0120. Marmota has the right to earn 51% interest in the uranium rights from Teck Australia Pty Ltd, PlatSearch NL and Eaglehawk Geological Consulting Pty Ltd.