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EXCEPTIONAL URANIUM GRADES AT THUNDERBALL SEE SHARES SURGE


Sydney - Tuesday - September 29: (RWE Aust Business News)
*********************************


OVERVIEW
********


Shares of Thundelarra Exploration, the uranium explorer, have
steadily advanced over the month as drilling results look better and
better.
The company has told the ASX that mineralization remains open
down plunge and the numbers are very impressive at its Thunderball
uranium prospect, Hayes Creek project, Northern Territory.
Four RC holes were completed in August with one returning 15
metres at 1.5 per cent uranium including 1 metre at 20.3pc.
In addition, diamond drill hole TPCDD026 has intersected an
even more intense zone of mineralization.
The core from TPCDD026 is yet to be assayed, however the primary
mineralised intercept is visually estimated to grade 11pc over 4.5
metres.
Sub-intervals may return higher grades than the peak assay in
hole TPCRC019.
Mineralization at Thunderball appears to be shear hosted and
consists of massive veins and disseminations of uraninite (pitchblende).
A number of holes have intersected a second, parallel zone of
mineralization at shallower depths.
Although of lesser grade, this upper zone displays signs of
strengthening towards the north, consistent with the primary lower zone
of mineralization.
The exceptional uranium grades achieved at Thunderball are
amongst the highest ever reported in Australia and highlight the
significance of this discovery and the pre-eminence of the Pine
Creek uranium province.
Further drilling to step out from existing high grade
intersections and test both zones of mineralization down plunge is
scheduled to begin in two weeks.
Thunderball was discovered by Thundelarra in November 2008 and is
one of several new uranium occurrences identified by the company since it
commenced uranium exploration in the Pine Creek region in 2007.
The drill holes reported above are situated on exploration
licence EL23431.
Thundelarra holds a 70pc interest in the uranium rights on
EL23431 in joint venture with Crocodile Gold Australia Pty Ltd.
At the Diggers Dealers 2009 Presentation in August, Thundelarra
gave details of its operations and aspirations.
In fact it was so good, it produced a run on the shares and
lifted the shares from 17c in July to 27c during August.
But in September the Thundelarra shares took off and yesterday
added another 7.5c to 51.5c after touching 59c a high for the year.


SHARE PRICE MOVEMENTS
*********************


Thundelarra shares registered the high of 59c yesterday and a
low of 5.75 for the year. The company has 143.9 million shares on issue
with a market cap of $74.1 million. It has 9.5 million options (Mar 2013,
20c) and unquoted 18.9 million options.


Thundelarra's primary focus is uranium exploration and
development in the Northern Territory.
Its assets include:
Substantial uranium tenure in Pine Creek & Ngalia Basin, NT;
Four highly prospective uranium projects in WA & Qld;
Advanced base metals prospects in the East Kimberley, WA.

Its projects in Northern Territory are in an area billed as one
of the world's premier uranium provinces, hosting a number of world class
deposits including Ranger, Australia's largest uranium mine.
Thundelarra controls approximately 3,500 square kilometres of
tenure in the centre of the Pine Creek region.
Thundelarra is primarily targeting structurally controlled,
unconformity related uranium deposits and has achieved early
success with the discovery of a number of new uranium occurrences.
The project area is only 150 kilometres from Darwin and is
exceptionally well serviced by infrastructure including road, rail, gas
and port facilities.
*At Hays Creek, three uranium discoveries have been made on the
western limbs of separate antiforms adjacent to the Hayes Creek Fault.
Thunderball is the only prospect which has been drilled at depth.
Shallow drilling at Bella Rose intersected similar anomalism to
shallow Thunderball holes while Corkscrew has produced the highest grade
surface values, including rock samples of up to 2.3pc but is yet to be
drilled.
*The Ngalia Basin hosts a number of identified uranium
occurrences including the 20 million pound Bigrlyi deposit, where the Mt
Eclipse Sandsone has been thrust up into a sub-vertical dip and outcrops
on the margin of the basin.
A total of 95pc of the Mt Eclipse Sandstone remains under
Tertiary sand cover and has been subjected to very little exploration.
Thundelarra controls approximately 3,300 square kilometres of
tenure over Mt Eclipse Sandstone in the centre of the basin.
The project area is 350 kilometres north-west of Alice Springs
adjacent to the Tanami Highway, 150 kilometres from the Adelaide to
Darwin railway and 100 kilometres from a gas pipeline.



BACKGROUND
**********

Thundelarra Exploration Ltd joined the Australian Stock Exchange
on March 22, 2001.
The company is an active Australian focused exploration company
with a tenement portfolio of 15,000 square kilometres encompassing
advanced nickel, uranium and base metals prospects.
It made the transition to producer in 2008 with the commencement
of operations at the Copernicus nickel mine.
Thundelarra's board and management have extensive experience in
exploration, project development, mining operations and public company
administration.
Its top five shareholders are Ragged Range Mining Pty Ltd &
Associates 16.5pc, Fortis Nominees 9.2pc, Norilsk Nickel Australia Pty
Ltd 5.5pc, Mr Frank DeMarte 2.0pc and Panoramic Resources Ltd 1.7pc.
ENDS rx

cheers!