uranium joint venture - toro energy

Uranium Joint Venture - Toro Energy

Announced by: HLX
Announced on: 02/02/2006 17:39:58
Words: 564
Status: Market sensitive (Y)
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Helix Resources Limited A.C.N. 009 138 738 Incorporated in Western Australia


2ndFebruary 2006
Manager
Company Announcements Office
Australian Stock Exchange Limited
10thFloor, 20 Bond Street SYDNEY NSW 2000

LAKE EVERARD (TUNKILLIA) PROJECT NEW JOINT VENTURE WITH TORO ENERGY LIMITED Helix Resources Limited ("Helix") is pleased to announce a new Joint Venture with Toro Energy Limited
("Toro") over the Lake Everard Project in South Australia.

Toro is a new company formed through the amalgamation of Oxiana Limited ("Oxiana") and Minotaur
Exploration Limited's ("Minotaur") uranium interests in the Gawler and Curnamona Cratons of South
Australia, one of the world's most prospective uranium regions.

The Joint Venture provides the Company with exposure to the new exploration campaigns currently targeting
uranium throughout Australia. The Joint Venture tenements cover a number of unexplored radiometric
anomalies within a chain of remnant lakes that follow a series of Tertiary Palaeo-channel Systems

Under the terms of the new Joint Venture, which covers the same tenements as the Gold Joint Venture with
Minotaur, Toro may earn a 51% interest in the Uranium Rights for an expenditure of $2 million over three years,
of which $400,000 is a minimum expenditure commitment.

Yours sincerely

Riccardo Vittino
Chief Operating Officer

FOR FURTHER INFORMATION CONTACT ROB MOSIG OR RIC VITTINO ON (08)93212644 P.O. Box 825, West Perth, Western Australia 6872 9 Richardson Street, West Perth, Western Australia 6005 Telephone +61 8 9321 2644, Facsimile +61 8 9321 3909, Email: [email protected], Website: helix.net.au
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