Western Uranium Limited

Western Uranium Limited is a Perth-based uranium exploration company which continues to actively search for new projects, both within Australia and offshore.

Acquisition is focused on drill-ready exploration projects through to advanced projects with existing resources and upside potential. Although the preference is for the major metals or bulks other commodities are being considered. There is no geographical constraint other than areas of unacceptable political risk. All deal structures will be considered, from joint venture farm-in through to direct project equity or corporate acquisition.

A number of interesting opportunities have been presented and are currently under review. Asset quality and valuations continue to improve as a result of continuing difficult conditions in equity markets. With this in mind, the Company is also evaluating the support that may be available to finance a potential acquisition.

Uranium prices are strong. Demand for uranium substantially exceeds supply and is predicted to remain so for the next decade, placing upward pressure on the price of uranium. Further, as world demand for electricity increases and global warming continues to be a critical issue, re-evaluation of uranium as a source of base load electricity generation becomes compelling.