MBAMBA

A total of 21 trenches, testing five radiometric anomaly clusters (1S, 2S, 1N, 2N, 2NW), were excavated, mapped and sampled during the initial field reconnaissance program. Assay results returned from continuous channel sampling of the trenches showed that significant intercepts (>100ppm U3O8) were recorded in 15 of the 21 trenches

Announced that a helicopter-borne radiometric survey recently completed which revealed a suite of eight priority anomaly clusters within a 12km2 zone of anomalous uranium channel radiometric response associated with Karoo age sediments.

Initial work on the Mbamba Bay Project will include a detailed review of historical data and compilation of a GIS database in preparation for field work planned during 2007. The exploration work program will compromise geological mapping, ground radiometric surveys, trenching and sampling with a view to generating drill targets. The project area was part of a country-wide search for uranium conducted between 1978 and 1982 by a German company Uranerzbergbau GmbH (“UEB”). The exploration initiative commenced with a review of airborne geophysical data generated in a country-wide survey carried out by Geosurvey International Ltd between 1976 and 1979. Based on this work, three Karoo basins in Tanzania, including the Mbamba Bay Basin, were covered with exclusive prospecting licences in 1978.