Ann: 2009 Annual Financial Report , page-7

Fatsoh:

"A new joint venture has been negotiated between Monax Mining Limited and Marmota Energy Limited on its Melton
IOCGU project in the northern Yorke Peninsula. The Company considers this region prospective for the discovery of
new deposits of copper, gold and uranium. More recently the prospectivity of the region, in particular the Pine Point
Fault, has been demonstrated by the discovery of significant copper-gold-uranium mineralisation by Rex Minerals at their Hillside Project on eastern Yorke Peninsula.

Under the terms of the agreement Marmota Energy Limited has the right to earn a 50% interest across all commodities in the Melton tenement by spending a total of $400,000 over a
period of two years. As part of its earn in requirement, Marmota Energy Limited plans to immediately undertake a
program of detailed geophysical data acquisition across the tenements to better define anomalies and identify targets
intended for drill testing soon after."

i.e $400,000 for 2 years & $8m plus in cash; MOX has raised the cash to participate. It's on IMO and we hope for copper (and hopefully uranium elsewhere). It would be typically ironic if MOX's U spin off, became a highly sought after copper explorer. No doubt, assuming the global macros hold up and no further relevant U news comes through, we'll saunter away on speculation.