omegacorp latest drilling at mutanga

OmegaCorp gets good support in latest drilling at Mutanga
08:41, Wednesday, 8 February 2006

Sydney - Wednesday - February 8: (RWE Aust Business News) -

OmegaCorp Ltd (ASX:OMC) has completed drilling at the Mutanga prospect of
the Kariba uranium project in Zambia.

The assays from nine of the eleven holes drilled have
been received and there is a good correlation between the holes drilled
previously by AGIP and those by OmegaCorp with two holes returning higher
grade intercepts than the original AGIP data.

The AGIP data had formed the basis of a resource estimation
completed by independent consultants in November.

This resource estimation currently totals approximately 11
million pounds uranium.

The company also completed geophysical logging as a further check
on five of the elevenholes drilled.

These preliminary results are also consistent with the original
data.

Limited further drilling will also now be conducted to assess the
areas where higher than anticipated grades have been intersected and this
is expected to lift the overall resource category at Mutanga.

OmegaCorp shares last traded at 28c.

ENDS