Ann: Commencement of Pre-scoping Engineering Stud, page-2

re: Ann: Commencement of Pre-scoping Engineer... STONEHENGE COMMENCES PRE]SCOPING ENGINEERING STUDY
ON KOREAN URANIUM DEPOSIT
Stonehenge has appointed Clean TeQ Holdings Ltd (Clean TeQ) to complete a desk top pre]scoping engineering study of its Daejon Uranium Project in South Korea.

Clean TeQfs study will review historical Korean Government geological and metallurgical information and define a suite of testing to compliment and update past results.

Clean TeQ has initially outlined a potential process route whereby both the uranium and the vanadium could be effectively extracted from the mineralisation. This process concept will be refined and developed during the desktop study.

Stonehenge believes that there is the potential for the black shales of the Ogcheon Belt in South Korea to contain economic concentrations of both uranium and vanadium.

Stonehenge Metals Ltd (Stonehenge or the Company) is pleased to advise that Clean TeQ Holdings Ltd (ASX: CLQ) has been appointed to complete a desk top pre]scoping engineering study of its Daejon Uranium Project in South Korea. Clean TeQ is a recognised leader in Ion
exchange, Resin]in]Pulp and Resin]in]Leach processing designs and the delivery of turnkey processing facilities.

The study will draw on historical metallurgical testing completed by the Korea Resources Corporation (KORES) in the 1980fs, which was recently translated into English by Stonehenge. A significant body of additional geological information has also been translated and will be
incorporated into the study.

The primary aims of the study are to provide:
o a concise review of available geological and metallurgical information,
o a conceptual metallurgical flow sheet and process description, and
o a metallurgical test work program to compliment and augment the historical metallurgical
testing.

During preliminary discussions, Clean TeQ has initially outlined a potential process route whereby both the uranium and the vanadium could be effectively extracted from the mineralisation. Stonehenge believes that there is the potential for the black shales of the Ogcheon Belt in South Korea to contain economic concentrations of both uranium and vanadium; consequently the Company is now evaluating the option of extracting both products.
Stonehenge Executive Director Bruce Lane stated gIfm especially pleased that the historical work conducted is of sufficient depth and quality to justify commencing a pre]scoping engineering study. We see this independent study as the next logical phase of development for the project.
The results of the study will provide Stonehenge with a clear direction for future exploration and development.h