ARIZONA/ TOURNIGAN

Uranium potential has been identified in 29 of the 120 breccia pipe targets on the Sweetwater-optioned properties. Permitting on nine of 18 Arizona locations identified as high-priority targets is complete.

The company has found anomalous pathfinder elements indicating the possible presence of uranium over 22 breccia pipes in the Northern Arizona strip uranium district. Especially significant are six anomalous uranium samples collected from five breccia pipe targets. Five samples contain 17 to 53 parts per million uranium, and a sixth sample, collected from annular faulting contains 1,240 parts per million uranium. Other significant pathfinder elements found over breccia pipe targets include copper, lead, zinc, silver, arsenic, barium, chromium, molybdenum, nickel and vanadium. Follow-up radiometric work conducted over the anomalous structures has defined 22 high-priority targets. Drilling of the priority targets is scheduled to begin during the second quarter of 2007.

A soil geochemical survey of 65 probable collapse breccia pipes has returned a number of pathfinder anomalies on 17 of the pipes, which may indicate the presence of uranium. Tournigan has initiated the next phase of exploration, to include select ground CSAMT and magnetics geophysical surveys as well as radiometric surveys in preparation for drill testing.