nice day for an announcement..., page-2

DOUBLING OF RESOURCE FOR TORO’S
NT URANIUM PROJECT
A new estimate based on 2007 drilling and assay results has doubled the
JORC-Inferred Resource estimate for the Napperby Uranium
Project, 150 kilometres northwest of Alice Springs in the Northern
Territory.
Toro Energy Limited (“Toro”) released the updated inferred resource of
4.6 million tonnes at 305ppm (0.031%) U3O8 for 1,420 tonnes
(3.13 million pounds) of contained uranium oxide (using a
200ppm U3O8 cut off), which is 112% more than the last Inferred
estimate prepared 18 months ago by Deep Yellow Limited (“DYL”)1. The
new figure compares with DYL’s December 2006 estimate of 1.9 million
tonnes at 360ppm (0.036%) U3O8 for 670 tonnes (1.48 million pounds) of
contained uranium oxide using the same cut off.
Toro holds an option to acquire 100% of the project from DYL on
certain commercial terms (see ASX Release dated 15/2/07 for details).
The new resource estimate was calculated by SRK Consulting for
inclusion into the Napperby Scoping Study. The mineralisation remains
open along the strike of the palaeochannel. The modifications to the
inferred resource estimate are due to assay results from samples from
the completion in 2007 of 305 holes for approximately 3,200m drilling.
Toro’s current drilling program is ensuring the broad mineralisation of
the deposit is captured as an inferred resource. SRK modeling suggests
closer spaced drilling combined with selective mining could make
significant improvements to the mined grades. A planned Scoping Study
this year is targeted to refine initial extraction parameters of the shallow
(<8m) deposit which lends itself to selective mining.