Company Information for Murchison United NL

ASX-MUR; AIM-MUU

www.murchisonunited.com.au

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ASX; MUR

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AIM; MUU

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Company Statement

Murchison United NL is an Australian-based minerals company focused on the exploration, evaluation and development of uranium and energy-related projects worldwide. The Company’s shares are listed on both the Australian Stock Exchange (ASX - MUR) and the Alternative Investment Market (AIM - MUU) of the London Stock Exchange.

Murchison has secured an extensive portfolio of uranium projects in the Republics of Guinea and Mauritania in West Africa, where it is pursuing intensive exploration programs during 2007 following a recent successful capital raising. The Company also holds copper and cobalt interests in Queensland and Western Australia, Australia.

Murchison conducted an initial program of 29 RC drill holes totalling 1,809m at its Firawa prospect in Guinea during May 2007. Highlights of the results received so far include a 10m section averaging 652ppm U3O8 with a best 1m assay of 1,325ppm U3O8. Drilling in Mauritania is expected to commence in September 2007 followed by further drilling in Guinea at the Company’s Bohoduo prospect.

Current Operations

Governments worldwide are increasingly turning to nuclear energy as a viable and attractive energy alternative to assist in reducing greenhouse gas emissions.

A persistent deficit between U308 demand and mining supply has existed for close to two decades and inventories are steadily being depleted. This international supply shortage of uranium has created a highly favourable environment for exploration.

Murchison holds a portfolio of strategic uranium exploration assets in West Africa and is currently progressing these assets and investigating other energy-related resource opportunities in Australia and internationally to further expand its asset base.

West Africa - Mauritania
The company has been granted six "group 4" uranium exploration licences in the Republic of Mauritania (West Africa) covering 8,200km2, with two more permits awaiting approval. The Company is well placed to secure additional exploration licences.

Mauritania represents an attractive opportunity for Murchison, with large tracts of prospective exploration ground, including historic uranium prospects located within Reguibate Massive, a part of the West African Shield.

Exploration is further enhanced by the availability of modern airborne geophysical data and modern geological maps from the “PRISM 1” project conducted by the World Bank.

Digital airborne data and processing of radiometric line data interpreted in Sweden has identified several strong uranium anomalies. Initial reconnaissance sampling of some of these anomalies has returned grades of up to 9500ppm U3O8 (0.95%).

In December 2007, the Company completed its first drilling programme in Mauritania, being a 4006m Reverse Circulation programme of 41 holes of between 50m to 150m. The drilling was carried out on one of its licences in the Bir En Nar area of the Zednes region of Mauritania, following up on the high sample results obtained previously by Murchison.

West Africa - Guinea
Murchison holds eight Uranium Prospecting Permits in the Republic of Guinea covering 3,563 km2 over three separate concession areas:

Firawa
Bohoduo
Sesse

Exploration activities have been conducted in-house by Mr Bosse Gustafsson, the Company's Tehcnical Director.

Firawa
Past airborne surveys have identified a 5 km anomaly lying in an East-West direction at the Firawa Prospect. This area was previously partly explored by means of detailed ground spectrometry, EM, magnetic measurements and soil geochemistry by Davy McKee.

Field visits by Murchison personnel have confirmed 25-year-old deep pits and trenches on the anomaly peaks.

An initial drilling programme was successfully completed during May 2007 and the Company is awaiting assay results for drilling samples sent to Canada for analysis. This programme comprised 31 RC drill holes for a total of 2,050 metres of drilling, targeting a highly prospective 2km section of a previously identified uranium anomaly which extends for over 5km within Murchison's Firawa exploration licences.
Final results were announced on 4 September 2007, including intersections of:

    * 12m @ 771ppm U3O8 (including 1m @ 995ppm U3O8),
    * 10m @ 652ppm U3O8 (including 1m @ 1,325ppm U3O8), and
    * 5m @ 749ppm U3O8 (including 1m @ 1,020ppm U3O8).

A follow-up 5,000m diamond drilling programme is being planned for September 2008 targeting a JORC compliant resource estimate for Firawa.

Bohoduo
Previous ground work by Davy McKee targeted a 700 metre long, irregular uranium anomaly at the Bohoduo Prospect. Previous work included uncompleted diamond drilling and extensive ground work, while a recent visit confirmed the presence of uranium mineralization. Airborne geophysical data indicates a 12 km long extension of the anomaly to the east.
An initial drilling programme is planned for the first half of 2008.

Sesse
Historical work at the Sesse Prospect was regional in nature and comprised grid geochemistry with radon gas analyses, ground magnetics and EM. Plans are being made for a reconnaissance field visit during 2008.

Australia - Queensland

Millenium
The Millenium mining leases are located some 35 kilometres west-north-west of Cloncurry in Queensland, Australia. The leases cover an area approximately 3.5 kilometres long and 500 metres wide.The area has old mine workings (early 1900's), as well as more recent exploration costeans and drill pad sites, which were directed to the exploitation of copper ore.

Murchison has received a contract geologist's report, which indicates promising levels of both copper and cobalt on the Millenium leases.

The recommendations of the report, including a proposed drilling programme, are currently being considered - as well as the appropriateness of the project in relation to the broader objectives of the company and taking into consideration the presence of established treatment facilities in the Cloncurry area.

Australia - WA

Maroochydore JV
The Maroochydore Copper Project in Western Australia is subject to a Joint Venture agreement with Aditya Birla Minerals Limited (ASX:ABY), which has a 50% interest in the Project and is the operator. The Project is located approximately 100km southeast of their Nifty Copper mine operations and 60km south southeast of the Telfer copper-gold mine

Maroochydore has a total estimated JORC compliant Indicated and Inferred Mineral Resource of 51 million tonnes at a grade of 1% copper and 0.04% cobalt for 0.51 million tonnes of contained copper and 20,000 tonnes contained cobalt (at a 0.5% Cu cut-off).

The Company's net attributable interest in this Mineral Resource is 25.5 million tonnes at 1% copper and 0.04% cobalt for 0.25 million tonnes of contained copper and 10,000 tonnes of contained cobalt.
In October 2007, assay results were announced, including 7m @ 2.45% Cu, from the first 7 holes of a planned 13 hole (1,500m) RC infill drilling program being undertaken by Aditya Birla Minerals Ltd. Drilling is expected to recommence in early Q2 2008, subject to drill rig availability. a 6-hole diamond drill program is also planned to obtain metallurgical test samples.

Geographical Spread

West Africa and Australia

Board of Directors and Key Management

Glenn Robert Featherby, B.Com., A.C.A. (Non Executive Chairman)

Mr. Featherby joined the board on the 2nd August 2004. Glenn has over 20 years' experience in corporate advisory work and has worked extensively in the resources sector. He worked with KPMG in Perth, Western Australia and London before establishing his own accounting practice in Perth in 1997. Glenn has previously held the positions of finance director for A.I.M. listed Regal Petroleum Plc and non-executive director of Canadian & A.I.M. listed European Goldfields Limited.

Lady Barbara Thomas Judge, B.A., J.D. (Non Executive Deputy Chairman)

Lady Judge joined the Board on 18 July 2008. A US-trained lawyer now based in London, Lady Judge has an exceptionally broad and successful international career as a senior executive, chairman and non-executive director in both the private and public sectors. She has been a regulator in both the US and the UK financial services industries, with particular expertise in energy and corporate governance. Current positions held by Lady Judge include Chairman of the UK Atomic Energy Authority, and Directorships with Massey Energy Company and Magna International Inc.

Mark David Reilly, B.Bus., A.C.A. (Managing Director, Chief Executive Officer and Company Secretary)

Mr. Reilly joined the board on the 2nd August 2004. Mark has over 15 years' experience in advisory work with extensive experience in the mining, banking and finance industries. He worked with Coopers & Lybrand in Perth before establishing a practice with Glenn Featherby. He is the former administrator of the company's previous subsidiary Renison Bell Limited.

Christopher David Grannell, (Non-Executive Director)

Mr David Grannell joined the board on the 4th April 2005. He was an Executive Director and Chief Financial Officer of European Goldfields Limited a company listed on the Toronto Stock Exchange and the AIM market of the London Stock Exchange. Mr Grannell is a fellow of the Chartered Association of Certified Accountants based in London. He has significant London capital markets experience focused in the natural resources sector.

Bosse Gustafsson (Technical Director)

Mr Gustafsson joined the board on the 3rd October 2006. Mr Gustafsson has over 35 years geological experience, including more than 10 years in uranium exploration, and is a life time member of the Geological Society of Sweden. He is presently employed by the Geological Survey of Sweden, as its Senior Geologist in the Mineral Resources Information Office, a position he has held since 1993. Mr Gustafsson has managed a number of exploration programmes for both the department and private companies on a secondment basis, in various locations throughout Europe, Africa and Latin America. Mr Gustafsson will manage and conduct the Company's exploration programme in Guinea and Mauritania, as well as any other regions in which the Company may apply for exploration permits.

Company Address

36 Outram Street
Western Perth, Australia 6005


Telephone:	+61 8 9322 4071
Facsimile:	+61 8 9322 4073
Email:	info[at]munl.com.au
Website:	http://www.murchisonunited.com.au

Capital

380,182,617 Fully paid ordinary shares (quoted)
2,250,000 Partly paid ordinary shares (unquoted)
18,000,000 Options (unquoted)

Year End

30 June

Nominated Brokers

Fairfax IS Plc

Nominated Advisors

RFC Corporate Finance

Most Recent Statement

29/09/08 - 2008 Annual Financial Report
15/08/08 - Investor Presentation August 2008
13/08/08 - Maroochydore Copper Project Scoping Study Update
07/08/08 - Mauritanian Political Situation
05/08/08 - Change of Director's Interest Notice
31/07/08 - Fourth Quarter Activities and Cashflow Report

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