taken position in this one looks goodUranium play in NT...

taken position in this one

looks good

Uranium play in NT

PRINCIPAL ACTIVITY
Korab Resources Limited (KOR) is involved in the exploration for gold, copper,
zinc and uranium. Company operates in Western Australia and the Northern
Territory.

MELROSE PROJECT (OPTION TO ACQUIRE 100%): The project is located in the N-E
Yilgarn region of Western Australia. Korab has an option to purchase the Melrose
project from Discovery Capital Ltd for $50,000 in cash and the issue to
Discovery Capital Ltd of 5m shares. As at July 2005 project had resource of
306,000oz Au. Planned work includes metallurgical and drill testing to determine
the most appropriate development option. Previous drilling intersected 56m @
3.6g/t Au from 49m and 22m @ 11.6 g/t Au from 90m.

BATCHELOR PROJECT (RIGHT TO EARN 60%): The project is located 70km S-SE of
Darwin, NT and is prospective for gold, uranium, zinc and magnesium. Korab has
the right to earn a 60% interest in the tenements by sole funding the first
$600,000 in exploration within 4 years. Previous sampling returned 12m @ 2.98gt
Au and 7m @ 2.56g/t Au.

THROSSELL PROJECT (RIGHT TO EARN 70%): The project is located in the N-E Yilgarn
region of Western Australia and is prospective for gold and base metals. Subject
to the grant of the tenements, Korab has the right to earn a 70% interest by
sole funding the first $500,000 of exploration costs within 3 years from the
grant. Previous work identified anomalous magnetics and gravity.

DARLOT EAST: The project is located in the N-E Yilgarn region of Western
Australia and is prospective for gold. Geochemical sampling has produced several
targets for drilling with results of up to 18g/t Au in rock chip and up to 1.2
g/t Au in lag samples.

MT ELEPHANT (RIGHT TO EARN 70%): The project is located in the Ashburton Mineral
Field, 40km south of Paraburdoo, WA and contains a number of gold and base
metals targets. Korab has the right to earn a 70% interest in the tenements by
sole funding the first $500,000 of exploration costs within 3 years. Previous
drilling identified several zones anomalous for Cu and Au with intersections up
to 3m @ 1.32% Cu from 105m.


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