could this get to 10 cents fast!! the market really likes the...

could this get to 10 cents fast!! the market really likes the news

AUSTRALIAN STOCK EXCHANGE LIMITED
Dear Sir / Madam
Ellendale Resources NL to acquire Clarke River Basin Uranium Prospective Tenements
Ellendale Resources NL advises that it has entered into a binding heads of agreement to acquire all of
the issued shares and options to subscribe for shares in Northern Resources Australia Pty Ltd (NRA).
NRA has rights to 5 uranium prospective tenements in the Clarke River Basin in Far North
Queensland, approximately 180 kilometres west of Townsville (consisting of EPM14944, EPM14946
and 3 applications for the grant of the tenements EPM(A)15512, EPM(A)15531 and EPM(A)15532,
comprising 365 sub-blocks of approximately 1,100km²).
The consideration payable to the vendors of NRA is 80 million fully paid ordinary shares in the issued
capital of Ellendale.
Completion of the transaction is conditional upon satisfactory due diligence by Ellendale, receipt of
Ellendale shareholder approval at a General Meeting and any other Australian Stock Exchange or
regulatory approvals required. It is intended that the requisite General Meeting of shareholders will
be convened as soon as practicable for this purpose.
The NRA vendors have been invited to nominate 2 directors for appointment to the expanded Board
of Directors of Ellendale, conditional upon completion of the transaction.
Post transaction, Ellendale will have approximately 160M issued shares and sufficient cash to fund its
planned exploration activities in 2007. These activities include the committed exploration programs
for Currans Well (Nickel) and Nullagine (Gold) for an aggregate expenditure of approximately
$200,000.
All enquiries should be directed to David McArthur on (08) 9389 8799.
Yours faithfully
ELLENDALE RESOURCES NL
DAVID McARTHUR
Director