Company Information for Mantra Resources Limited

ASX-MRU

www.mantraresources.com.au

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ASX; MRU

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Company Statement

Mantra Resources Limited (”Mantra”) is a mineral exploration company based in Perth, Western Australia. The Company commenced trading on the Australian Stock Exchange (ASX Codes – “MRU” and “MRUO”) in October 2006 after a successful IPO.

The Company has direct and joint venture interests in a portfolio of uranium exploration tenements in southern Africa. Mantra controls prospecting licences and applications in Tanzania that cover a total area of approximately 12,450 square kilometres and include sandstone hosted roll-front type uranium targets in the Karoo sediments of southern Tanzania (Mkuju River Project, Mbamba Bay Project and Southern Tanzania JVs) and palaeochannel associated calcrete-hosted uranium targets within the Bahi catchment of central Tanzania (Bahi North and Handa Projects).

Mantra also has interests in three uranium exploration properties (Chikangawa, Chintheche and Nanzeka) in Malawi. The tenements cover a total area of approximately 1,630 square kilometres and include intrusive-related and hydrothermal vein style uranium targets.

Mantra is focused on implementing an aggressive exploration program, with a strong emphasis on the application of modern exploration technologies and targeted drilling, to evaluate the potential of its uranium exploration projects.

In September 2007, Mantra announced that it had reached an agreement with Mavuzi Resources Limited (“Mavuzi”) to merge the two companies. The proposed merger, which is subject to Shareholder approval, will create a dynamic and well funded exploration company with:

a diversified portfolio of quality uranium, gold and copper projects in southern Africa covering approximately 15,250 square kilometres;
an enhanced and highly credentialed management team; and
strengthened technical, operational and financial capabilities to support continued growth through aggressive exploration and acquisition.

The Board of Mantra includes Directors experienced in the resources industry and Mantra’s technical team has experience in uranium exploration as well as operating in African environments, in particular Tanzania and southern Africa. The Board and management will continue to utilise this experience to identify both uranium and other resource opportunities, including potential acquisitions, joint ventures, or investments in the resources sector, which can enhance shareholder value.

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 cover a total area of approximately 13,550 square kilometres and include sandstone hosted roll-front type uranium targets in the Karoo 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.

The Company has established a strong in-country technical and operational capability and is implementing an aggressive exploration program, a strong emphasis on the application of modern exploration technologies and targeted drilling, to assess the potential of its uranium exploration projects in Tanzania.

Mozambique Overview

The Company currently has 48 granted licences covering approximately 9,200 km² in northern Mozambique. A regional base has been established in Tete (southeast of the Mavuzi Project) with an experienced exploration management team in place.

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 recently granted licences of the Niassa Project cover 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 joint venture interests in three uranium exploration properties in Malawi. The Chikangawa, Chintheche and Nanzeka tenements cover a total area of approximately 1,630 square kilometres in northern-central and central Malawi.

Uranium-channel airborne radiometric anomalies have been identified from regional survey data in each project area. The anomalies occur within an intra-cratonic mobile belt setting and represent intrusive-related and hydrothermal vein style uranium targets that have either not been previously investigated or have been subjected to only limited ground follow-up.

Malawi is an emerging uranium region within Southern Africa with significant recent activity by foreign producers and explorers. The Government of Malawi permits uranium mining and recently demonstrated its commitment to the development of a uranium industry by granting Paladin Resources Limited a Mining Licence for the Kayelekera Uranium Project in the north of the country.

Geographical Spread

Africa – Malawi and Tanzania

Board of Directors and Key Management

Mr Ian Middlemas	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 27 June 2008)
Shares on issue (ASX Code: MRU):79,682,513
Listed Options (ASX Code: MRUO):19,917,708

Year End

30 June 2008

Broker/Analyst Reports

28/09/07 - Resource Capital Research Report - Mantra Resources

Major Shareholders

MERRILL LYNCH (AUS) NOMINEES PTY LTD	10,582,937	13.99
HIGHLAND PARK S.A.	9,810,486	12.97
NATIONAL NOMINEES LTD	5,597,602	7.40
ANZ NOMINEES LMTD	5,237,221	6.92
J P MORGAN NOMINEES AUST LTD	4,934,483	6.52
HSBC CUSTODY NOMINEES (AUS) LTD	3,950,999	5.22
HSBC CUSTODY NOMINEES (AUS) LTD	3,947,720	5.22
CITICORP NOMINEES PTY LTD	3,896,647	5.15
NEFCO NOMINEES PTY LTD	2,666,666	3.53
DENISON MINES CORP	1,666,666	2.20

Most Recent Statement

31/10/08 - Quarterly Activities and Cashflow Report
30/10/08 - Annual Report to shareholders
20/10/08 - Leach Recoveries Exceed 90% in Test Work at Mkuju River
19/09/08 - New Thick Zones of Uranium Mineralisation Intersected at Mkuju River Project
22/07/08 - FURTHER THICK ZONES OF URANIUM MINERALISATION INTERSECTED IN DRILLING AT MKUJU RIVER PROJECT
17/06/08 - Thick zones of uranium mineralisation intersected in drilling at Mkuju River Project

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