new acquisitions consolidate rpt's position at lak

Redport Limited A.C.N. 061 559 840
Redport Limited A.C.N. 061 559 840. Level 1, 8 Windmill Street, Millers Point, NSW 2000, Australia
4 October 2005 Company Announcements Office Australian Stock Exchange Limited REDPORT LIMITED (ASX CODE: RPT) Dear Sir/Madam NEW ACQUISITIONS CONSOLIDATES REDPORT’S POSITION AT LAKE MAITLAND URANIUM PROJECT Redport Limited (“Redport”) (ASX Code: RPT) is pleased to announce the acquisition of the Lake Maitland North and Lake Maitland West projects. The projects consist of a 100% interest in two tenements at Lake Maitland located directly adjacent to the Lake Maitland Uranium Deposit which contains 7,800 tonnes (17 million pounds) of U3O8 and increases Redport’s landholding in the region. Redport is earning an 80% interest in the Lake Maitland Uranium Deposit under a joint venture (“Lake Maitland JV”) and currently holds a 30% interest. The acquisition of these projects is in line with Redport’s strategy of making acquisitions and investments which have the potential to create shareholder value. This also underlines Redport’s objective to continue focused exploration at and around uranium projects and deposits to locate commercial quantities of uranium. Lake Maitland West Redport has purchased a 100% interest in E53/947 for $10,000 plus a gross royalty of 1% of the value of all minerals produced and sold from the tenement. E53/947 covers a portion of the northern and southern arms of Lake Maitland. Historical drilling from the 1970’s intersected carnotite (uranium-vanadium mineralisation) in a number of holes. Lake Maitland North Redport has purchased a 100% interest in E53/1060 for $10,000 plus a gross royalty of 1% of the value of all minerals produced and sold from the tenement. E53/1060 is located on the northern edge of Lake Maitland. No uranium has been yet to be discovered on this tenement. Historical data will be collected and investigated to determine the potential for uranium and to determine future exploration initiatives.
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Redport Limited A.C.N. 061 559 840
Drilling in Progress The previously announced drilling programme has commenced on the Lake Maitland JV. As a result of the above acquisitions, drilling will be extended onto Lake Maitland West. The object of this additional drilling is to delineate the uranium mineralisation and provide sufficient data such that a JORC compliant resource can be estimated on Lake Maitland West. Any resource so defined will directly enhance the viability of the Lake Maitland JV. The results of Redport’s drilling programme will be announced to the market when they are available. Uranium policy settings On 1 and 2 October 2005 during the Liberal Party state conference, the Western Australian Liberal Party unanimously endorsed uranium mining in Western Australia. The State Liberal Party view is now consistent with the Commonwealth Government’s position which recognises Australia’s strategic position in holding around one third of the world’s low cost uranium. Federal Resource Minister, Mr Ian McFarlane, has also commenced a three year Uranium Industry Framework examining ways over the short, medium and longer term to reduce impediments to uranium exploration and mining, ensuring an effective and efficient regulation regime for uranium mining and facilitating increased exploration and mining of uranium in Australia, amongst other things. Redport welcomes these developments and will monitor any future developments which arise from the Framework. The Framework has established a Steering Group comprised of industry, government and indigeneous organisaitons. About Redport Limited Redport is an Australian Stock Exchange listed company involved in the mineral resource sector with a focus on building its uranium resource base. Redport currently has projects in Western Australia and South Australia, and holds a royalty to the Langer Heinrich Uranium Project in Namibia which is expected to be in production in 2006. At the Lake Maitland project where exploration is currently being conducted Redport is earning an 80% interest in this project which contains a Resource of 7.800 tonnes of U3O8 (17 million pounds of U3O8). For further Information please contact: Richard Homsany, Chairman, Redport Limited Tel (02) 9375 0576 Malcolm Mason, Redport Limited Tel (02) 9375 0576 Kevin Kartun, RADAR Investor Relations Tel (02) 8256 3310 Redport website: www.redport.com Redport Limited A.C.N. 061 559 840. Level 1, 8 Windmill Street, Millers Point, NSW 2000, Australia
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Redport Limited A.C.N. 061 559 840
Redport Limited A.C.N. 061 559 840. Level 1, 8 Windmill Street, Millers Point, NSW 2000, Australia
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