Echelen Resources.Echelon Total Class Issue: 26,962,878Market...

Echelen Resources.

Echelon Total Class Issue: 26,962,878
Market Cap (Undiluted): 15,099,212

4 million additional shares will be released to raise 1.4 million to a number of Canadian and European investors and the funds raised will be used to fund an accelerated exploration program on the tenements.

This is my latest spec uranium play that I have picked up. Its prospects are based in Australia with 3 tenements 10 km directly to the south of BHP’s largest calcrete deposit in the world being the yeleerie deposit. (Based in WA) It also holds tenements to the North of Summit Resources Vahalla deposit(Queensland).

There are two other explorers in the Area being BLZ and ENR but Echelon have something that those two other explorers don’t have which is extremely promising radiometric readings on their epls. Not only do they have this but they also have tenements to the North of Summit resources Valhalla and Skal uranium projects. The Queensland tenements are 50% owned by PDN which I like because it brings a strong partner into play if they ever did find a deposit in the area. The experience Paladin would have in developing any future deposits found is priceless IMO. Lots of experience within the PDN management team will bring some guidance to ECH.

A lot may criticise this stock as it is based in WA and we know the stance of the government atm in regards to uranium mining..but the most attractive part of Echelon to me was the highly prospective land holding they have near MT ISA and its close proximity to Summits Valhalla deposit. Just recently there was also an announcement in regards to some historic drilling results being found. The promising results are below.

In 1971 Queensland Mines Ltd carried out a percussion drilling program on the Batman prospect within the Greenstone tenement with the best assay results from the 5 hole program (Table 1) being:

• 17.8m @ 0.123% U3O8 - Hole PNB 5
• 6.97m @ 0.091% U3O8 - Hole PNB 3
• 2.7m @ 0.048% U3O8 - Hole PNB 2

A number of small shafts have also been sunk, however production records are not available. Figures 2 and 3 indicate the radiometric signature over the project areas – Batman, Duke and Lily. In addition to these areas, a major 4.2 kilometre long structure has been identified using existing radiometric data. Follow up surface mapping and sampling of this anomaly will be carried out.

Below I have attached maps showing their EPLS and locations. One attachment for their Yeleerie EPLs which shows extremely promising radmiometrics and also one for their Queensland tenements. Remember this is a spec play but I believe it is has what it takes to bring great rewards. Strong radiometrics..some promising historic drilling and close proximity to two extremely large deposits. All the best.