xstrata copper exercises seep option

13th June 2007
The Manager
Company Announcements Office
Australian Securities Exchange (ASX)
Electronic Transmission
4 page(s)
Dear Sir/Madam
ROSEBY SULPHIDE EXTENSION EXPLORATION PROJECT (SEEP)
XSTRATA COPPER EXERCISES SEEP OPTION
The directors of Universal Resources Limited (Universal) are extremely pleased to announce
that Universal has received notice from Mount Isa Mines Ltd, a wholly owned subsidiary of
Xstrata Queensland Limited (Xstrata Copper), of the exercise of the SEEP Option pursuant
to the Heads of Agreement – Roseby Project dated 11th March 2005.
The exercise of this option does not in anyway detract from Universal’s objective of
constructing a mine at Roseby. The exploration effort that will go into the SEEP will only
increase the probability of identifying additional Ore Reserves for feedstock for a processing
facility at Roseby.
It is most encouraging to Universal that Xstrata hold the view that the exploration targets in
SEEP are of sufficient appeal to warrant the exercise of the SEEP option.
The mineralisation which falls within the SEEP comprises primarily deeper sulphides below
our existing deposits at Roseby. The total footprint of the area enclosed by SEEP is
approximately 174sq km of the 1,810sq km of tenements in the Roseby tenement package.
The location of the lease package is in the Mt Isa Eastern Fold Belt of North West
Queensland. This is shown in figures 1 and 2.
HEAD OFFICE
Level 2
91 Havelock Street
West Perth, Western Australia 6005
POSTAL ADDRESS
P O Box 1466
West Perth, Western Australia 6872
Phone: +61 (0)8 9486 8400
Facsimile: +61 (0)8 9486 8700
Email: [email protected]
Website: www.universalresources.com.au
ASX Announcement 13 June 2007 UNIVERSAL RESOURCES LIMITED
ACN 090 468 018
2
Figure 1. Universal Project Locations
ASX Announcement 13 June 2007 UNIVERSAL RESOURCES LIMITED
ACN 090 468 018
3
Figure 2. Location of SEEP Area within Roseby Project Tenements
ASX Announcement 13 June 2007 UNIVERSAL RESOURCES LIMITED
ACN 090 468 018