who's willing to predict close price, page-10

re: dawson project is the one to look for The Dawson Well project follows the Yeelirrie Deposit
target type (not held by U3O8 Limited) in similar
geological environments. The prospects represent
near-surface uranium concentrations in sediments or
soils. Uranium deposits in calcrete are the largest of
the surficial deposits.
The nearby Yeelirrie deposit was discovered in 1972
and is reputedly the world’s largest sedimentary
deposit of its kind.

The deposit extends over 9 kilometres, is up to 1.5 kilometres wide, up to 7 metres
thick and lies mostly at a depth of 5.5 metres below
the surface. It comprises a Proved Ore Reserve of 35
million tonnes with an average grade of 0.15% U3O8,
containing 52 000 tonnes of uranium oxide, which
could readily support a low-cost mining operation
producing a proposed 2500 tonnes per year of
uranium concentrate with 1000 tonnes per year of
vanadium oxide by-product.

Dawson Well is in the same geological environment
as the world class Yeelirrie deposit, and the Lake Way-
Centipede deposits on adjacent tenements to the east
which are the core asset in the recent Nova Energy
NL.

T10:)