ARIZONA CLAIMS

A new breccia pipe with highgrade uranium mineralization on the second VTEM geophysical anomaly was discovered. Discovery Hole A-20-01, the first hole to test the A-20 anomaly, intercepted a thickness of 34.5 feet averaging 0.37% U3O8 at a depth of 1,442 feet, including a high-grade zone of 6.5 feet averaging 0.63% U3O8 at a depth of 1,443 feet. The hole also intercepted a deeper zone of 13.0 feet averaging 0.46% at a depth of 1,567 feet that includes a higher grade interval of 10.0 feet averaging 0.58% U3O8.

Breccia pipe with high-grade uranium mineralization was discovered; discovery Hole A-01-31 intercepted a thickness of 57 feet averaging 0.33% U3O8 at a depth of 1,034 feet in a blind or “hidden” breccia pipe on the A-1 VTEM anomaly. The intercept includes a higher grade interval of 28 feet averaging 0.58% U3O8.

A total 10,400 feet during the quarter in 6 deep holes investigating Target A01 and four of the first stratigraphic holes to examine geophysical Target A51 located approximately 2 miles to the west of A01. Data from the stratigraphic drilling at A51 is as yet inconclusive but the deep holes at Target A01 continue to be encouraging.