MOVING FORWARD IN 2009 (Website being updated shortly)

2009 is shaping up to be NuPower's most significant year since listing in 2007. The purchase of the Eva and Cobar II Mineral Leases, which contain historical uranium and gold results, and the review of historical phosphate results on our Lucy Creek and Arganara tenements, mean the 2009 drilling programs will focus on the definition of four JORC resources. 

It is our aim, subject to regulatory approvals, to have an operational uranium mine in the NT by 2011.

KEY POINTS

• NuPower's tenements are all located in the NT, one of three states in Australia where it is legal to mine uranium.

• NuPower currently have two conceptual targets as summarised below:
  • Eva Mineral Lease - Uranium - Up to 120,000 tonnes @ 0.32% U₃0₈ containing up to 380 tonnes U₃0₈ (see ASX announcement dated 7 April 2009);
  • Lucy Creek Exploration Licence - Phosphate Target - Up to 43m tonnes @ 21% P₂0₅ (15% cut-off) (see ASX announcement dated 29 January 2009).
• In 2009 we will drill Eva, Lucy Creek, Arganara and subject to budget Cobar II.
• We anticipate that only small drilling programs are required to bring our conceptual targets and historical results to JORC compliant figures.