Company Information for Uranex NL

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Company Statement

Uranex was incorporated on 4 July 2005 to acquire exploration and development projects with a sole focus on uranium.

The Company listed on the Australian Stock Exchange on 25 October 2005 after acquiring an extensive portfolio of uranium projects in Australia and Africa. These projects offer a balance of advanced and greenfields uranium targets which are considered by Uranex to offer potential for the participation in early resource definition and multiple discovery opportunities in prospective but poorly explored terranes.

Uranex's early recognition of the revival of the uranium sector allowed the Company to be relatively selective in choosing its exploration and development opportunities and therefore enhancing the probability of early success.

First year of exploration resulted in two new discoveries of uranium mineralisation in Tanzania.

Current Operations

Tanzania
MKUJU
The Mkuju and Songea projects are located in the south-west of Tanzania close to the country boarders of Mozambique and Malawi.  The project areas comprise 8 granted/offered tenements and 3 applications covering a total area of about 8,000km2.

The high grade surface mineralisation at anomaly 16 provides a priority target for follow-up drilling.  The Company plans to conduct about 3,000 metres of reverse circulation drilling at anomaly 16 and other targets within the 16 kilometre long radiometric trend.  Grid based scintillometer surveys and soil sampling will provide further targets for trenching and follow-up drilling.

The Company is also planning to conduct a 256 channel spectral radiometric survey over the remaining 5,000km2 of its land holding at Mkuju.

Australia
THATCHER SOAK
The Thatcher Soak uranium deposit is located 130km north-east of Laverton in Western Australia and covers an area of about 224km2.  Most of the deposit is located in granted exploration licence E38/1732 to which Uranex holds 100% of the uranium rights.  The mineralisation may extend slightly to the east into granted prospecting licence P38/3298.  Uranex has the right to earn a 65% equity in P38/3298 under a Joint Venture Agreement with South Boulder Mines Ltd.

A drilling contract has been let for an initial program of about 600 holes.  The program is designed to define the gross mineralised envelope and to close-up drilling within the envelope to allow the calculation of a JORC inferred resource.  The drill program will commence in late April.

BYNOE
The Bynoe uranium project area is located 60km south-west of Darwin. The project area is contained within eight granted exploration licences and one exploration licence application covering a total area of 500km2.
Uranex has recognised the potential for blind primary high grade mineralisation within its group of licences, in areas capped by laterites and other surface deposits. Historic drilling indicates that uranium mineralisation is hosted within the structures defined by Uranex. These structures will provide the targets for initial drill testing. Careful definition and targeting of potential host settings to highlight discrete targets for drill testing is proposed.

Following the cessation of the monsoon season (May) the Company plans to conduct a field program to investigate strong uranium responses identified by the airborne survey.

The program will investigate grid based ground scintillometer surveys, soil sampling, trenching and reverse circulation drilling.

ALLIGATOR RIVER
The project comprises one granted exploration licence and one exploration licence application covering an area of 930km2.  They are located on the western margin of the Kakadu National Park within the Pine Creek Inlier.

The Pine Creek Inlier contains the world class uranium deposits of the East Alligator Uranium Field and the smaller deposits of the South Alligator and the Rum Jungle Uranium Fields.

A reconnaissance survey will commence in July to assess the geological setting and scale of the airborne uranium responses.

Geographical Spread

Tanzania and Australia

Board of Directors and Key Management

Terry Ward	Non-Executive Chairman
John Cottle	Managing Director
Richard Udovenya	Non-Executive Director
Andrew Daley	Non-Executive Director
John Nethersole	Company Secretary

Company Address Level 3, 15 Queen Street Melbourne, Western Australia, Australia VIC 3000 Telephone: (+ 61 3) 9621 Facsimile: (+ 61 3) 9621 Email: info[at]uranex.com.au Website: http://www.uranex.com.au

Additional Address/Key Contact Head Office Level 3, 15 Queen Street Melbourne VIC 3000 Telephone: (+ 61 3) 9621 1533 Facsimile: (+ 61 3) 9621 1544 Technical Office Level 2, 100 Railway Road Subiaco WA 6005 Telephone: (+61 8) 9381 5033 Facsimile: (+61 8) 9381 3611

Broker/Analyst Reports

29/05/07 - Deutsche Bank

Related News

29/07/08 - Nimble In Tanzania, Strategic In Australia: Uranex’s Uranium Game Plan
07/08/07 - Mysterious Relationship Between Uranex And China National Nuclear Corporation
03/05/07 - Uranex Still Tends To Hide Its Uranium Light Under A Bushel

Most Recent Statement

05/09/08 - Africa Downunder Conference - Presentaion by Mr J Cottle
05/09/08 - Mining Journal special publication Tanzania - August 2008
02/09/08 - Appointment of Corporate Affairs Manager, Tanzania
20/08/08 - Bahi Pre-Feasibility Study
31/07/08 - Quarterly Report - 30 June 2008
31/01/08 - 31 December 2007 Quarterly Report and Appendix 5B