re: ho ho ho merry christmas

So ture and there is more to come in 2007.

A very prosperous and Happy New Year.

Options Entitlement Issue
Due to a number of questions from shareholders the board would like to remind investors as to the terms of the proposed non renounceable issue of options. The Board has resolved that within six months of listing, the Company will, subject to compliance with the Corporations Act and ASX Listing Rules, undertake a nonrenounceable rights issue of options on the basis of one option for every two Shares held. The options will be issued at an issue price of 1 cent ($0.01) per option. These options will expire on 31 December 2009 and be exercisable at 25 cents ($0.25) per option.
Investors should note that only shareholders registered on the share register of the company at the record date (being a date yet to be determined but which will be
determined in accordance with the ASX Listing Rules) will be entitled to participate in the proposed non-renounceable rights issue. Details of the terms and conditions of the proposed issue of options are set out in Section 10.3 of the Northern Uranium IPO Prospectus.