namibia the uranium explorers paradise, page-12

it seems that investors need to get their heads around the lower average grades by WME, judging by what happened friday arvo that people might have realised that they area smack bang in downtown uranium central in Namibia and although the average grades are not huge at the moment, they have had some encouraging recent exploration results suggesting a higher grade zone extending to the southwest and northwest. They have only tested 30% of their tennement to date and even with the current shareprice rise there is no exploration success built into the shrareprice.

The following shows that even the smallest grades can become a mining operation. Feasibility Study on third uranium mine in Namibia using average grade of 127ppm which is lower than the average grade of WME.

SRK Consulting (U.S.) Inc (‘SRK’) is currently undertaking a Definitive Feasibility Study (‘DFS’) at
Trekkopje, which is due for completion in late 2007. In September 2006 SRK estimated Measured
and Indicated Mineral Resources totaling 61 million tonnes at an average grade of 137 ppm for 8,000
tonnes (18 million lbs) contained U308, reported using a cut-off grade of 80 ppm U308. SRK also
estimated a total Inferred Mineral Resource of 502 million tonnes at an average grade of 127 ppm for
63,100 tonnes (139 million lbs) contained U308, reported using a cut-off grade of 80 ppm U308.