announcement read here

URANIUM SAMPLES RECOVERED
ERONGO PROJECT, NAMIBIA

Drilling has commenced to assess the potential for all commodities on the
Erongo Polymetallic Project. The first palaeochannel targeted has been drill
tested with 3 holes. Samples have been submitted for precious metals, base
metals, rare metals and uranium. Carnotite (uranium mineral) has been
located on the surface as exploration utilizing ground radiometrics, soil
geochemistry and drilling progresses.
HIGHLIGHTS
• Carnotite (uranium mineral) identified at surface and samples
submitted for analysis.
• Positive results continue from ground radiometric truthing of
Hakskeen Uranium Target C.
• 44% of the radiometric data is 2 times background indicating
an extensive anomalous structure.
• 5% of the radiometric data is 5 times background indicating a
highly anomalous uranium source.
• Initial results of wide spaced drilling show shallow anomalous
radiometrics downhole.
1st Floor, 47 Ord Street
West Perth
Western Australia 6005
Email: [email protected]
Website: www.reeftonmining.com.au
Tel: (61 8) 9322 7822
Fax: (61 8) 9322 7823
A.C.N. 010 546 675
Background
The deeply eroded Southern African terrain contains an abundance of world
class orebodies in regolith areas of deeply weathered profiles or large areas of
fresh outcrop. Alluvial systems both conceal orebodies and carry indicators of
precious metal, base metal, rare metal and uranium mineralisation.
Orebodies of the size of the Navachab Gold Mine (126,000,000 tonnes
containing 4,700,000 ounces of gold) located adjacent to the Erongo
concessions have been difficult to locate due to the erosional regime. The
detailed examination of these alluvial systems, particularly the deeper
concealed palaeochannels (deposited when the climate was humid
subtropical) is expected to present exploration targets for significant
mineralisation.
The first palaeochannel target is located in the south west corner of the
Company’s Erongo project area within Namibia’s uranium province. Uranium
mineralisation is typically found in palaeochannels and examination of this
system led to the Hakskeen Uranium discovery.
Uranium Development
The Company is pleased to announce it has recovered samples of carnotite
(yellow oxide mineral of uranium) from the surface of Hakskeen Target C at
the Erongo Project in Central Namibia, Africa.
The carnotite samples were collected during soil sampling of Target C and
they have been submitted for analysis.
Soil samples have also been collected from the radiometric lines of Target C
and submitted for assay.
A radiometric ground truthing initiated a ground radiometric survey to
investigate the Hakskeen area. Airborne anomalies cover over 68 square
kilometers.
Positive results have continued from a detailed radiometric survey of Target
C.
The ground radiometric survey has now tested a total of five lines and is
continuing. Each line was approximately 1,000 metre in length with 400
metre line spacing (reduced from 1,000 metre) and 20 metre spacing of
readings.
The radiometric data returned significant results with 44% of the data at +1
standard deviation or 2 times background (anomalous), and 5% +2 standard
deviations or 5 times background (highly anomalous).
Figure 1. Host rock containing carnotite (yellow mineral of uranium) at
Target C on the Erongo Project.
An RC rig has completed an initial 3 holes (TC3/RC1, TC3/RC4 and TC3/RC8)
of a planned 19 holes.
Figure 2. RC rig drilling at Target C on the Erongo Project.
The holes have been logged and the samples are to be submitted for assay.
Radiometric surveying, soil sampling and drilling are continuing at the Erongo
Project.
Award of Tender for Laboratory Work - SGS
Reefton has engaged SGS Lakefield Research of South Africa in Johannesburg
to complete all laboratory analysis of the samples recovered from the Erongo
Project.
SGS is recognised as the world leader in quality laboratory analysis.
This appointment further underpins the commitment of the Directors to
utilising the best resources available on the Erongo Project to ensure timely
results with confidence.
Namibia
Namibia is located in south western Africa and is politically stable with no civil
unrest and low sovereign risk. The country became an independent republic
in 1990 breaking away from South Africa. Namibia is a former German colony
and is governed by Dutch Roman law.
Under the Namibian Mining Act, Reefton tenure comprises Exclusive
Prospecting Leases and the Company has applied for the inclusion of uranium
in the development rights.
The country has been actively mining uranium for decades including Rio Tinto
Limited’s Rossing Uranium Mine (located to the south of Hakskeen) which
opened in 1975. Paladin Resources Limited’s Langer Heinrich deposit (also
located to the south of Hakskeen) is planned to start mining in 2006.
Yours faithfully
GR HEMMING Enquiries to:
Technical Director Mr Simon Gilbert
Chief Executive Officer
Phone: +61 (0)8 9322 7822
Facsimile: +61 (0)8 9322 7823
This report accurately reflects information compiled by Mr G.R. Hemming, MAusIMM.,MAIG., a Director of
Roscoria Pty Ltd, who has sufficient experience which is relevant to the style of mineralisation and type of
deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as
defined in the 2004 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserve’. Mr Hemming consents to the inclusion in the report of the matters based on his information in
the form and context in which it appears.

issued through
FIELD PUBLIC RELATIONS PTY LTD ABN 74 008 222 311
231 South Road, MILE END SA 5031
Ph: 08 8234 9555 Fax: 08 8234 9566
[email protected]
N E W S
• R E L E A S E •
FOR IMMEDIATE RELEASE
31 March 2005
REEFTON RECOVERS FIRST URANIUM SAMPLES
FROM WEST AFRICAN PROJECT
The first uranium samples have been recovered by diversified Australian base
metals and gemstone explorer, Reefton Mining NL, from its west African
targets in Namibia.
Reefton said today that surface samples of carnotite (the yellow oxide mineral
of uranium) - had been collected and submitted for analysis.
The samples are the first uranium retrievals for Reefton and come from
positive results from a detailed radiometric survey of the Target “C” within the
Hakskeen anomaly, part of the Company’s Erongo Polymetallic Project in
central Namibia.
Reefton also announced today that it had commenced a 19-hole reverse
circulation drilling program in the southwest corner of its Erongo project to
assess the potential for all commodities.
Samples from the first three holes are to be submitted for precious metals,
base metals, rare metals and uranium testing.
Reefton has engaged SGS Lakefield Research of South Africa in Johannesburg to
complete all laboratory analysis of the samples recovered from the Erongo project.
SGS is recognised as a world leader in quality laboratory analysis.
“This appointment further underpins the commitment of the Directors to utilising
the best resources available to the Erongo project to ensure timely results with
confidence,” Reefton’s Chief Executive Officer, Mr Simon Gilbert, said.
Hakskeen is one of four radiometric anomalies – the others being Vergenoeg,
Sukses and Hoopverloor - identified to date in an area of Erongo totalling 68
square kilometres.
issued through
FIELD PUBLIC RELATIONS PTY LTD ABN 74 008 222 311
231 South Road, MILE END SA 5031
Ph: 08 8234 9555 Fax: 08 8234 9566
[email protected]
The Board of Perth-based Reefton Mining discovered the uranium targets at
its wholly owned Erongo Project after radiometric surveying returned
significant readings up to 94,320 counts per minute, an indicator of the
presence of uranium bearing mineralisation.
The anomalies occur within alluvial basins interpreted to have developed on
palaeochannels similar to the developing Langer Heinrich uranium deposit
owned by Paladin Resources Ltd located to the south of Hakskeen.
Results announced by Reefton today from its Hakskeen work, included:
• Positive results continue from ground radiometric truthing of
Hakskeen Uranium Target C.
• 44% of the radiometric data is 2 times background indicating
an extensive anomalous structure.
• 5% of the radiometric data is 5 times background indicating a
highly anomalous uranium source.
• Initial results of wide-spaced drilling show shallow anomalous
radiometrics downhole.
The ground radiometric survey has now tested a total of five lines and is
continuing. Each line was approximately 1,000 metres in length with 400 metre
line spacing (reduced from 1,000 metre) and 20 metre spacing of readings.
The radiometric data returned significant results with 44% of the data at +1
standard deviation or 2 times background (anomalous), and 5% +2 standard
deviations or 5 times background (highly anomalous).
Soil samples have been collected from the radiometric lines of Target C and
submitted for assay.
The RC drilling program is expected to be completed early in April, with the drill
program following the detailed ground radiometric survey lines.
MEDIA CONTACT:
Simon Gilbert Kevin Skinner
Chief Executive Officer Field Public Relations
Reefton Mining (08) 8234 9555
(08) 9322 7822 04141 822 631