INTERVIEW WITH MR. GEOFF EUPENE, CHIEF EXECUTIVE OFFICER OF CROSSLAND URANIUM MINES LIMITED (CUX)

“Initial Results Charley Creek Nt”

http://www.brr.com.au/event/50514

MONDAY, SEPTEMBER 1, 2008, 12:00 PM.

            BRR    Good morning and welcome to Boardroom Radio. Today we’re talking to

10                    Geoff Eupene, Chief Executive Officer at Crossland Uranium Mines. Good morning, Geoff. Thanks for taking the time to speak with me today.

            CUX     Good morning, Tom. It’s nice to be here again.

15        BRR    Geoff, you had some promising rock chip results from Charley Creek. Can you give us a little bit more detail on these results?

            CUX     Charley Creek is about 100 km to the northwest of Alice Springs that central part of the northern territory and these 37 rock-chip samples were

20                    collected to follow up on the results of a detailed airborne survey that crossed and undertook around the beginning of the year. The area has been known for some time to be quite radioactive but these samples, there up to 37 samples collected, we found that 30 actually had a uranium content of over 100 parts per million. That’s chemical uranium, determined in the laboratory.

25                    And furthermore, more than half, 19 of the 37 samples were over 300 parts per million uranium, including three that contained more than a thousand parts per million or 1 kg per tonne of uranium. The best result was 2,530 ppm uranium which is the equivalent of about the 3 kg of uranium oxide per tonne of U3O8.

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            BRR    Then, what are these results mean to Crossland?

            CUX     This means that Crosslands are normally in the Teapot Granite, which is where these results come from, extends over several square kilometers and

35                    we could have quite extensive occurrences of these sorts of grades at surface. It remains to be seen whether these values will continue to dip. We’re pretty encouraged by the nature of the distribution of these results. They’re all associated with the particular phase of the Teapot Granite and we can actually see the secondary uranium minerals as films on cracks in the

40                    specimens collected from the area, but it’s definitely large-grade uranium mineralization and it’s a matter of whether we can get it to hang together. If it hangs together, we’ve got a pretty substantial mineral ozone on our hands.

            BRR    And Geoff what would the next steps be?

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            CUX     Well, the first steps will be to continue the definition of the anomalies with the on-ground spectrometer surveys and mapping, as well as continuation of the prospecting, collecting of more rock chip samples of this nature. This is really just the start of sampling of the few square kilometers of the area of anomaly we have there. So, that work will be continuing but at the same time we’ll be applying for the next necessary permits we need to enable us to do the next stage of evaluation, which will be drilling. So, we’ll be applying to obtain the permits we need to drill the area. We have to continue that work probably

5                      through the summer months.

            BRR    Geoff, thanks for speaking with me today.

                        Listeners, that was Geoff Eupene, Chief Executive Officer of Crossland

10                    Uranium Mines. If you have any questions for Geoff or you’d like some more information about this broadcast, please email at brr@brr.com.au. I’m Tom McKay. Thanks for listening to Boardroom Radio.

INTERVIEW CONCLUDED

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