Bigger and better resources at Bigrlyi

17 January 2007

Initial samples drilled at the Bigrlyi project in Australia's Northern Territory indicate that its uranium resource is much bigger and of a higher quality than previously thought, EnergyMetals Ltd announced. The company said that recent drilling suggests there is high-grade uranium at the site equivalent to the quality of the deposit mined at the Ranger mine in the north of the state. Also, the quality of the depositis estimated to be higher than that at South Australia's Olympic Dam and Beverley mines. Current esources at Bigrlyi total 11.4 million pounds U3O8. Although output from the mine may be small, Energy Metals executive director Lindsay Dudfield said, "What we're talking here is small tonnages of higher grade." The company hopes to conduct a feasibility study in 2008 on the prospect of establishing a mine at Bigrlyi. The Bigrlyi project is a joint venture with Paladin Resources' subsidiary Valhalla Uranium (41.7%) and Southern Cross Exploration (5%).

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