Sue E — uranium project

Uranium deposit on the McClean Lake property supported by the 2005 McClean Technical Report, with the inferred resource estimated at a 0.10% U3O8 cut-off. The operator conducted confirmatory drilling on a portion of the Sue E resource outside the designated pit and in late 2006 submitted a preliminary analysis detailing an inferred resource of approximately 2 million pounds on a 100% basis in that area, against the 7.3 million pounds in the February 2006 technical report. The resource has not been re-estimated using the newer drill information.