URAMET HOME PAGE

Information as of May 2007

• Uramet Minerals Limited is an ASX listed exploration company targeting base metals and uranium in Central Australia.
  
• Uramet´s tenements cover 8,234 km2 (square kilometres) of which 6,976 km2 are in the Northern Territory, the balance in Queensland. Of the total area, only 339 km2 is yet to be granted.
  
• The Company raised $7 million in its initial public offering and commenced trading on the ASX on 19 June 2007.
  
• Since then, several major programs have been completed, including reconnaissance drilling, mapping, and major geophysics surveys (gravity, IP and VTEM).
  
• At the Box Hole lead-zinc project, very encouraging IP, gravity and VTEM targets are now ready for drill-testing commencing May 2008.
  
• Promising anomalies at base metal projects and the Wilora uranium project have been selected for ground follow-up to define drill targets.
  

Phosphorite-hosted Uranium Projects at Desert Syncline, Boat Hill-Red Heart and Thorntonia

"The Desert Syncline and Boat Hill-Red Heart projects are located approximately 500 km by road from Alice Springs or 350 km by road from Mt Isa (Fig. 4). The Thorntonia project is located 130 km by road from Mt Isa (Fig. 7). In all three projects, Uramet is targeting uranium mineralisation hosted in phosphatic limestone and phosphorite of early to middle Cambrian age. Uramet considers that there is also potential at Thorntonia for unconformity-hosted uranium mineralisation as described in section 2.4 above.

Sedimentary phosphorite can contain of the order of 100 ppm U and in Florida, USA, uranium has been extracted from phosphate ore as a by-product of the fertilizer production process. The concentration of uranium in phosphorite is generally too low for uranium to be mined as a stand-alone operation. However, Uramet believes that in the geological environment of the Georgina Basin the uranium concentration could have been upgraded by dissolution and re-precipitation of uranium within porous, organic-rich (bituminous) limestone analogous to the limestone-hosted uranium deposits of the Todilto Formation in New Mexico, USA, which have a historical production of more than 2,600 t of U3O8.

In all three project areas surface radiometric uranium anomalies are present. Limited rock chip sampling at Desert Syncline prospect has yielded up to 0.2 kg/t U3O8 (=167 ppm U). At Boat Hill–Red Heart there is over 30 km strike length of prospective stratigraphy to investigate and much of it is located under shallow sand cover masking any aerial radiometric response. At the Thorntonia prospect, aerial uranium anomalies are associated with both the basal Cambrian limestone near the contact with Proterozoic basement and with an adjacent fault zone wholly within Proterozoic basement. All three prospects also offer possibilities for discovery of high grade phosphate deposits. At Boat Hill high-grade phosphorite (32% P2O5) has been identified from a grab sample and at Thorntonia, high-grade phosphorite is known from the Lady Jane deposit located 6 km to the northwest, just outside Uramet’s tenement."

THEY HAVE A DRILL RIG AND ARE GOING TO BE DRILLING THIS COMING SEASON MAY-OCTOBER 2008 FOR BOTH LEAD/ZINC AND ROCK PHOSPHATE