REDPORTShare price (at March 17): 8.4cMarket cap (at March 17):...

REDPORT



Share price (at March 17): 8.4c
Market cap (at March 17): $40.58 million

1. Where is your mainstay project located?
Lake Maitland Uranium Project; which is in the Eastern Goldfields of Western Australia is Redport's main project. Redport has a number of other uranium projects including Kintyre Rocks and Edwards Creek Heraklion Prospect (SA) where the company is targeting an Olympic Dam Style Target.
Kintyre Rocks (100% Redport) is located 2.5 kilometres from Rio Tinto Limited's ("Rio Tinto") Kintyre Uranium Deposit unconformity-associated, vein-type uranium ore body which has a resource estimate of 35,000 tonnes of contained uranium oxide with an average grade of 2.75kg/t. The project area covers 197sq km. The Kintyre Uranium Deposit was discovered by Rio Tinto in 1985 and is considered to be world-class. The Rudall River region where the Kintyre deposit is located is recognised as one of the world's richest uranium provinces and now Redport has a stake here alongside two of the world's leading uranium companies, Rio and Cameco. The location of the Kintyre Rocks Project is considered significant because of the presence of major lithological units and structures present at the Kintyre Uranium Deposit are interpreted as extending into the Redport leases.

2. When was it discovered?
The Lake Maitland Uranium Deposit was discovered in 1971 and has been explored by a number of parties in the 1980s and 1990s including Mt Isa Mines Ltd (now Xstrata) and BP.

3. What is the company's stake in the project?
The company has a 100% interest in the project.

4. What work programs have been completed at the project? How much drilling has been carried out?
Previous explorers have drilled in excess of 700 holes and excavated 17 trenches. In the November 2005 Redport carried out a drilling programme comprising 590 holes for an advance of 6000m.

5. What style/type of uranium mineralisation is at the project?
Shallow calcrete hosted uranium deposit similar to the Yeelirrie and Langer Heinrich deposits.

6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
The mineralisation extends 6km north-south in length and between 300-1300m wide. It is in one single lens and is generally 1-3m thick. At a cut-off of 0.2kg/t uranium oxide the grade is 0.52 kg/t uranium oxide and contains a central core of higher grade mineralisation where average grades are above 0.75kg/t uranium oxide.

7. Is the project essentially a 'greenfields' proposition, or does it have a JORC-compliant resource? If it is not 'greenfields' and if it doesn't have a JORC resource, how much work needs to be done in order to establish one?
The Lake Maitland Deposit is one of the few advanced uranium deposits in Western Australia which has a resource which has been defined to JORC standard and comprises of around 7800 tonnes or 17 million pounds of uranium oxide in inferred and indicated categories.

8. What is the potential size of the deposit?
See question seven.

9. How much cash has the company budgeted to spend on the ground at the project during 2006?
The company will spend around $400,000 to complete an updated resource estimation, which costs include last year's drilling programme. Dependent on the results from the resource estimate the Redport board will decide whether to commence a pre-feasibility study.

10. What is the company's current cash position?
The company has $9.7 million in cash as at 31 December 2005.

11. Which contractors/consultants has the company been/intend using?
The company is currently in discussion with a number of consultants in relation to the project.

12. How is the project located in terms of infrastructure?
The project is located in the Wiluna Gold mining belt; where significant infrastructure exists around current and previous gold mines in the region( including Wiluna, Bronzewing and Jundee gold mines).
The project is located about 1 hour north of the Leinster Regional Airport.
Power and the Goldfeilds Gas pipeline are also located in close proximity to the project area.

13. How far away is a potential development? What is the potential size and timeline?
Potential development is subject to a change in uranium mining policy in Western Australia.

14. What are the potential capital/operating costs of the development? When will you likely know?
The company is not at this stage able to advise on capital and operating costs. However Resource Capital Research and Intersuisse stockbrokers have published some details on this which can be found at www.redport.com in the investor section.

15. What are the main hurdles to reaching a development decision?
Development decision will be subject to regulatory change.