mining update : more good stuff, page-2

Summit scores in four out of five holes
15:18, Wednesday, 28 June 2006

Sydney - Wednesday - June 28: (RWE Australian Business News) -
Summit Resources Ltd (SMM) reports that four of the first five drill
holes at Tjilpa have intersected uranium vanadium mineralisation.
The Tjilpa deposit, one of eight uranium deposits being drilled
by Summit, is located 30 kilometres north of Mount Isa city in northwest
Queensland.
Tjilpa is 100% owned by Summit.
Multiple zones of uranium mineralisation have been encountered
in a wide low grade intersection in the first drill hole reported from
Tjilpa.
The 194 metre section grading 0.49lb/t (0.02%) uranium oxide
(U3O8) and 1.07lb/t (0.05%) vanadium pentoxide (V2O5) includes 5 metres
at 1.99lb/tU3O8 (0.09%) and 1.73lb/tV2O5 (0.08%) and 10 metres at
1.93lb/tU3O8 (0.09%) and 1.35lb/tV2O5 (0.06%).
Four metres grading 1.37lb/tU3O8 (0.06%) and 1.57lb/tV2O5
(0.07%) was intersected in TJDDH3.
Grades up to 5.48lb/tU3O8 (0.25%) and 1.97lb/tV2O5 (0.09%) over
metre intervals have been encountered in the Tjilpa drill holes.
Drill results reported from Tjilpa include: TJDDH1 194m 0.49lb/t
(0.02%) U3O8 & 1.07lb/t (0.05%) V2O5 including 5m 1.99lb/t (0.09%) U3O8
& 1.73lb/t (0.08%) V2O5 and 10m 1.93lb/t (0.09%) U3O8 & 1.35lb/t (0.06%)
V2O5 TJDDH3 4m 1.37lb/t (0.06%) U3O8 & 1.57lb/t (0.07%) V2O5 The Tjilpa
uranium deposit is one of the targets being drilled in Summit's Mount
Isa Uranium Project in northwest Queensland where resource definition
drilling and metallurgical testwork is now under way on the eight
separate uranium deposits.