revised exploration target sizes at lance proj, page-2

7 July 2008
Companies Announcement Office
Via Electronic Lodgement
REVISED EXPLORATION TARGET SIZES AT LANCE: 50–76 MILLION TONNES eU308
Highlights
• World Industrial Minerals have, after re-interpretation, estimated that the
global exploration target size for the Lance projects is 39-60 million short
tons at 0.05-0.07% eU3O8 for between 50-76 million pounds of U3O81,
including:
o Estimated exploration target size at the Ross Project of 6.35-9.52
million short tons at 0.05%–0.07% eU3O8 for 8-12 million pounds of
U3O81
o Estimated exploration target size at the Barber Project alone of 2.60-
3.90 million short tons at 0.07%–0.09% eU3O8 for 4-6 million pounds of
U3O81
o Estimated exploration target size within and between the other 11
projects of 30.2-46.8 million short tons at 0.05–0.07% eU3O8 for 38-58
million lb U3O81
• Drilling is planned to start in September 2008 to commence the conversion
of historic mineralisation to JORC compliant resource status.