Company Information for Mantra Resources Limited

ASX-MRU

www.mantraresources.com.au

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Company Statement

Mantra Resources Limited ('Mantra') is an emerging uranium company with a portfolio of quality projects in southern Africa.

The results of drilling at the Company’s flagship Mkuju River Project ('the Project') in southern Tanzania have confirmed the presence of multiple thick zones of sandstone-hosted uranium mineralisation at shallow depths at the wholly owned Nyota Prospect.

An Inferred Mineral Resource of 35.9 million pounds U₃O₈ has recently been estimated for the Nyota Prospect. This initial resource estimate is based on drilling that covers only a small part of the total area of the Prospect, and the potential exists to substantially grow the resource base with ongoing work. A Scoping Study is well advanced and expected to be completed in the second quarter of 2009.

Mantra is focused on aggressively pursuing the ongoing exploration, appraisal and potential development of this outstanding uranium Project, in order to fulfil its strategic objective of becoming a significant uranium producer in the near-term.

The Company’s interests include additional uranium, gold and copper projects in Tanzania, Malawi and Mozambique that cover a total area of approximately 20,800 square kilometres.

Mantra has an established strategic alliance with Highland Park S.A. (includes original founders and former executives of LionOre Mining International Limited) and strong cash reserves. The Company recently announced that it intends to seek a dual listing on the Toronto Stock Exchange ('TSX') later in 2009.

The Board of Mantra includes Directors experienced in the resources industry and the Company’s technical team has experience in uranium exploration as well as operating in African environments, in particular Tanzania and southern Africa.

Company Diagram

Current Operations

Tanzania Overview

Mantra has direct and joint venture interests in a portfolio of uranium exploration tenements in Tanzania. The prospecting licences and applications are largely within the highly uranium prospective Karoo-age sediments of southern Tanzania (Mkuju River Project, Mbamba Bay Project and Southern Tanzania JV's) and paleochannel associated calcrete and sandstone hosted uranium targets within the Bahi catchment of central Tanzania (Bahi North Project and Handa Project).

The uranium potential of Tanzania was established by a country-wide airborne geophysical survey conducted for the government in the 1970’s which generated a large number of radiometric anomalies hosted within different geological settings. Subsequent exploration undertaken between 1978 and 1982 resulted in the identification of numerous occurrences of surface uranium mineralisation and recognition of the potential for several uranium deposit types in Tanzania.

Mozambique Overview

The Company currently has a number of licences in northern Mozambique and has an established base in Tete (southeast of the Mavuzi Project).

The Boa Viseau Prospect at the Mavuzi Project has been the main focus of exploration to date where a program of geological mapping, stream sediment and soil sampling has generated a significant stream and soil gold anomaly with coincident copper and other indicator minerals.

The Niassa Project covers the upper Karoo sediments that are recognised in the adjacent countries of Tanzania and Malawi to host significant uranium mineralisation. The western and eastern licences within this Project are dominated by older, Proterozoic rocks which have the potential to host both gold and base metal mineralisation.

Malawi Overview

Mantra has a joint venture interest in the Chikangawa tenement in Malawi which covers a total area of approximately 100 square kilometres. The tenement is in igneous and metamorphic rocks of the Precambrian to Lower Palaeozoic Basement of the Mozambique Orogenic Belt within the Malawi Rift Valley System, which forms part of the greater East African Rift Valley System.

The setting is considered highly prospective for peralkaline intrusive-related uranium mineralisation which typically occurs with associated niobium and tantalum mineralisation.

Board of Directors and Key Management

Mr Ian Middlemas	Non Executive Chairman
Mr Robert Behets	Joint Managing Director
Mr Matthew Yates	Joint Managing Director
Mr Colin Steyn	Non Executive Director
Mr Mark Pearce	Non Executive Director
Mr Luke Watson	Company Secretary

Company Address

Level 9, BGC Centre
28 The Esplanade
Perth, Western Australia, Australia 6000


Telephone:	+61 8 9322 6322
Facsimile:	+61 8 9322 6558
Email:	info[at]mantraresources.com.au
Website:	http://www.mantraresources.com.au

Capital

Capital Structure (as at 12 March 2009)
Shares on issue (ASX Code: MRU):80,292,214
Listed Options (ASX Code: MRUO):19,308,007

Year End

30 June 2008

Broker/Analyst Reports

19/02/09 - Argonaut Research Report – Mantra Resources Limited.

Major Shareholders

HIGHLAND PARK S.A.	13,080,649	16.29
MERRIL LYNCH (AUSTRALIA) NOMINEES PTY LIMITED

Most Recent Statement

17/06/09 - SCOPING STUDY CONFIRMS ECONOMIC VIABILITY OF MKUJU RIVER
11/06/09 - Drilling Commences on Priority Targets at Mkuju River
29/05/09 - Appendix 3B and s708A Notice
05/05/09 - Amended Drilling Announcement with CP Statement
05/05/09 - Infill and Extension Drilling Commences at Mkuju River
14/04/09 - Mantra TSX Listing

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