QUARTERLY REPORT (Second Quarter) OCTOBER – DECEMBER 2007Western...

QUARTERLY REPORT (Second Quarter) OCTOBER – DECEMBER 2007


Western Australia

1. Bungalow Well. This uranium project is a joint venture with Red River Resources Ltd and the
Exploration Licence (36/549) has recently been granted. A drilling program is planned for early
2008.

2. East Nabberu Basin. Recent Exploration Licence applications 69/2475 (Wanarairy) and 69/2476
(Hann Wells) along with ELA69/2336 (Fairbairn Hills) form UOG’s evolving iron ore exploration on
the under explored Frere Formation.

3. Northampton. A new Exploration Licence has been applied for to the north of Northampton. The
ground has had little modern exploration and the targets are deposits of lead-zinc.


Northern Territory

1. Ethel Creek. Site clearance has been requested from the Central Land Council. Once this is
approved then the drilling program can go ahead, weather permitting.


South Australia

1. Olary. The Olary Exploration Licence (3726) covers part of the Curnamona Craton, which is
prospective for lead-zinc (eg Broken Hill) and uranium (eg Radium Hill). Soil and rock samples
were taken during December. The samples are in the laboratory.

2. Moonta Exploration Licences 3718 (East Moonta) and 3719 (South Moonta) were researched in
detail prior to field activity. This will commence shortly. The targets are copper-gold deposits.


Victoria

1. Heavy Mineral Sands Exploration. UOG has 8 Exploration Licences for Heavy Mineral Sands in
the Murray Basin of Victoria centred around the township of Horsham. Research into past
exploration is ongoing. This should lead to drill targets.