Uranium mineralization >100ppm eU3O8 identified in 39 of 50 holes drilled over the two prospects.

New area of mineralisation identified at Takardeit East which will be tested in the current program

Rob Kirtlan, NGM director, said “drilling at Takardeit and the new target area, Takardeit North, is continuing to provide a suite of high grade and broad mineralised zones.

“The program still remains small in nature with just 2,700m having been drilled and reported to date from the July and current program. The drilling at Takardeit and Takardeit North not only provides potential for economic mineralisation; it also highlights the highly prospective nature of our tenements in the Tim Mersoï basin. We hold 1,500km2 of which the current program is focusing on just 50km2.

“Fieldwork at nearby Takardeit East also suggests the opportunity for more mineralisation and test drilling will be undertaken at this site in the coming weeks.

“Diamond drilling of higher grade zones is currently being done to provide further geological information and check assay analysis. Drilling is anticipated to run well into December and we expect to report the next batch of results by late November with a further release upon completion of the program before Christmas” Kirtlan said.

Drilling Programme Results

On October 13, 2009 the rotary mud drilling campaign re-commenced with 1,211m drilled across 50 drill holes to date. The drilling has been undertaken on the Terzemazour Concession across two uranium areas, Takardeit and Takardeit North. Drilling is continuing. Currently the rotary mud program is scheduled to drill 4,000m.

Holes IND028 to IND062 are drilled on the Takardeit mineralization as a follow up to the mineralization intersected in drill holes IND010-14 as reported in August 2009.

Holes IND063 to IND077 are drilled at a new uranium prospect called Takardeit North which is located around six km north-west of Takardeit, and only 1km east of the main sealed highway between Arlit and Agadez.

Drill Results – Takardeit

The Takardeit drilling has intersected uranium mineralization in 25 out of 35 holes drilled to date in this target. Of these, seven holes have intersected high grade mineralization including;

IND031 0.7m at 1,528ppm eU3O8 from 13.2m depth;

IND035 1.3m at 1,258ppm eU3O8 from 15.4m depth;

IND036 0.9m at 1,053ppm eU3O8 from 6.7m depth;

IND036 0.6m at 1,553ppm eU3O8 from 14.3m depth;

IND037 0.4m at 1,034ppm eU3O8 from 14.3m depth;

IND042 3.0m at 1,231ppm eU3O8 from 4.5m depth;

IND050 1.1m at 1,051ppm eU3O8 from 15.1m depth;

IND053 0.7m at 1,819ppm eU3O8 from 13.2m depth.

Drill Results – Takardeit North

The drilling at the Takardeit North prospect has identified sandstone hosted mineralization over a zone approximately 1,500m northeast-southwest by 600m northwest-southeast and remains open to the southwest.

The Takardeit North drilling has intersected uranium mineralization in 14 out of 15 holes drilled to date in this target.

Of these, three holes have intersected high grade (>0.3m at > 400ppm eU3O8) mineralization including;

IND066 0.7m at 1,820ppm eU3O8 from 16.8m depth;

IND070 0.6m at 1,795ppm eU3O8 from 32.6m depth;

IND076 0.4m at 1,563ppm eU3O8 from 21.2m depth.

Takardeit Mesas

The volume survey and grid sampling of the Mesas to enable a resource to be estimated is still in progress.

The Mesas present an immediate target for outlining a very low strip ratio uranium resource adjacent to a sealed highway, and 18kms from the provincial city of Agadez with power, water and a residential labour force. The Mesas are within 2km of the Takardeit mineralisation.

Forward Programs

The company is working on the following programs: Continue drilling down-dip at Takardeit. Return to drilling at Takardeit North. Test drill at Takardeit East. Diamond drill at Takardeit to confirm radiometric grades and geology. Complete the volume surveys and pattern sampling of the Takardeit Mesas. Carry out airborne magnetic and radiometric surveys over the company’s three concessions. Continue the detailed mapping and field work programs.