Company Information for Wild Horse Energy Ltd

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Company Statement

WildHorse is an Australian based, international uranium company focused on the development of supplies to the two largest markets for uranium in the world – the United States and Europe.  The company aims to have uranium production by 2010 based on its projects in the United States and Central Eastern Europe, and has a portfolio of development and exploration projects that offer the potential for long term uranium production to contribute to the rapidly growing demand for uranium in these two markets.

Strategy
The WildHorse strategy is to explore and develop world-class uranium assets in countries that are pro-mine development and experiencing growing demand for supplies of uranium.

WildHorse aims to take advantage of the uranium and nuclear power outlook and rapidly advance its projects to decision to mine stage.

WildHorse primarily identifies and selects projects suitable for in situ recovery (ISR) mining, the cost effective and environmentally acceptable method of mining uranium.

WildHorse plans to add more projects to its portfolio through exploration and acquisitions in central western USA (around Wyoming) and central Europe (with Budapest as a base). These areas are advantageous in that they have established demand for uranium and WildHorse can leverage its existing infrastructure and teams.

WildHorse also has an early stage program in South America where the company is seeking to secure large exploration positions with known uranium occurrences which have experienced relatively little comprehensive uranium exploration and development.

Current Operations

United States
- Sweetwater Project
The Sweetwater Project is situated in the Great Divide Basin of south-central Wyoming, 53 kilometres from Rawlins and 117 kilometres from Casper. Local roads and tracks provide access to exploration and development. The project is in the south-central portion of the Great Divide Basin, which is a structural and topographic basin enclosed by a split in the Continental Divide.

WildHorse has five separate claim blocks, totalling over 400 claims, and covering more than 9,300 acres of land in Sweetwater County. This equates to approximately 70% of the ground covering the areas on or close to uranium trends REB, A and B. WildHorse intends to further explore its mining claims to discover the extent of the historical mineralisation present.

WildHorse has completed the second phase of drilling across the REB. Average grades for this phase of drilling ranged between 0.019 equivalent U3O8% and 0.134 equivalent U3O8%, which are in the target range for ISR production. The drilling program also identified a new mineralised horizon below previously drilled mineralisation.

The two phases of drilling are being used to determine the extent of the REB Trend boundaries, and their consistency with the historical information owned by WildHorse. A third phase of drilling is also being planned in 2008. Analysis is now underway to model the horizontal distribution of the mineralisation between the drill holes as a precursor to defining a JORC compliant resource.

- Bison Basin Project
The Bison Basin project area covers part of a roll-front uranium mineralised trend, previously explored with more than 2,500 drill holes. WildHorse has more than 350 claims in three separate blocks, covering more than 7,800 acres. These claims cover approximately half of the original project area, which was developed and operated as an in-situ leach mine in the early 1980s. The original project produced approximately 60,000 pounds (30 tonnes) of U3O8.

WildHorse has made substantial progress with the evaluation of this project, including the identification of the mineralised uranium trend associated with the original mine. In August 2007, WildHorse announced an initial JORC-compliant inferred resource for the West Alkali Creek Deposit, representing 10% of the Bison Basin Project area. The JORC inferred resource at Bison Basin is 0.91 million tonnes @ 0.089%, for 1.8 million pounds (810 tonnes) of U3O8, with a cut-off grade of 200 ppm.

WildHorse has commenced confirmatory drilling to upgrade this Inferred Resource to the Indicated category, and is continuing data analysis of additional drill hole data in other parts of the Basin to progressively add to the inferred resource. In 2008, the Company is aiming to complete a scoping study in preparation for bankable feasibility studies. WildHorse has an initial target resource of 4-5 million pounds, with a longer term target of 10 million pounds for the project

Europe
- Hungary: WildHorse has four projects in Hungary
The Pécs Project consists of 3,400 acres covering extensively explored ground, with uranium mineralisation, adjacent to the historic major uranium producing centre in the Western Meczek Mountain. The Pécs uranium mine was closed in 1997, with a cumulative production of 46 million pounds.

In July, WildHorse established an initial JORC-compliant inferred mineral resource of 17.0 million tonnes @ 0.08%, for 30 million pounds (13,600 tonnes) of U3O8, at a lower cut-off of 300ppm. The resource calculation has been independently verified by RSG Global. The resource area currently only covers a relatively small portion of WildHorse’s project area, and based on the geological modelling undertaken by RSG Global, there is considerable potential to extend the resource in all directions.

The Bátászék Project consists of 3,380 acres of explored ground with uranium mineralisation and exploration potential. Currently a small project with potential to grow, extensive drilling has intersected uranium mineralisation and defined a front roll.

The Dinnyeberki Project consists of 2,600 acres, previously drilled with experimental in situ leach testing carried out.

The Máriakéménd Project – potentially a very large resource (100 million pounds) at exploration stage. Orebody type is commonly low to medium grade (0.05% –0.4% uranium).

- Poland
WildHorse has lodged a proposal with the Ministry of Environment in Poland, outlining its interest in prospecting and exploration permits covering 1,980 km2 in the Sudetes Mountains of south western Poland.

The area of the Sudetes Mountains was explored by the Polish State and the former Soviet Union in the 1950s, resulting in the development of 12 underground uranium mines. WildHorse’s expression of interest covers the majority of these former mines.

South America
- Paraguay
WildHorse has been granted a 3,500km2 (865,000 acres) uranium concession in the Parana Basin, eastern Paraguay, which contains known uranium mineralisation, based on historical exploration.

WildHorse’s Paraguan project target was formerly part of a substantial uranium exploration project that generated extensive drilling and other data.

In the second half of 2007, WildHorse plans to evaluate this historical data to determine the most effective strategy for further exploration and potential development of the area.

Eurash
Mining of a wide range of commodities produces waste, typically the rock that has been crushed and the valuable minerals extracted. Over years of mining, this waste is accumulated close to mining operations, or used to backfill mines for rehabilitation. As commodity prices rise, and as technology improves, it becomes economically viable to reprocess these materials and extract lower concentrations of minerals.

WildHorse Energy’s team has experience in the identification and analysis of such opportunities for secondary processing, and it is reviewing a wide range of potential projects for the recovery of low levels of uranium from existing stockpiles. Secondary processing represents a fast tracked and low cost path to production, with limited mining costs and no exploration or development work required with recovery achieved through conventional processing plants.

This first project WildHorse has embarked upon is Eurash, a joint venture with Sparton Resources Inc to identify and progress the development of uranium extraction from coal ash in Europe. This is a further extension of WildHorse’s strategy to be a major uranium supplier in Europe, with a potential secondary source of uranium that could be developed more rapidly than mining.

Geographical Spread

Board of Directors and Key Management

Broker/Analyst Reports

16/05/07 - Argonaut Report

Major Shareholders

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