QUASAR RESOURCES PTY LTD

Mindax Energy Pty Ltd reports Scout drilling along the Yilgarn palaeoriver within the Mukinbudin Project area 200 km north-east of Perth has encountered economic grades of roll front sedimentary uranium mineralisation. The critical intercepts in the Jindarra area are YAA0184 37-38m 1m @ 1690ppm U (equivalent to 0.20% U3O8), and YAA0188 38-41m 3m @ 1243ppm U (equivalent to 0.15% U3O8). The intercepts occur on parallel, adjacent traverses separated by 2000 m.