Project Status

• The Company’s Sweetwater project is adjacent to and interlinked with ground owned by Rio Tinto Energy America, owners of the nearby Sweetwater uranium mill. Rio Tinto Energy America, Inc. announced the potential sale of its assets, including the mill in late 2007. Pending the outcome of that sale, WildHorse has not proceeded with its planned drilling programs on the highly prospective REB Trends
• The Company commenced drafting a Plan of Operations, similar to Bison Basin, which is important to provide a long term approach to manage the exploration activities on the project.
• Comprehensive drilling programs for the various trends in the Sweetwater area were developed and are ready to be pursued.
• Analysed open pit and ISR mining options for the trends, standalone and consolidated.
  

Next Steps

• Plan to conduct resource definition drilling to define comprehensive JORC resource.
• Undertake work required to commence applications process including baseline monitoring.
• Complete Pre-feasibility study once JORC resource completed.

Land holdings of the Sweetwater Project

Geology
Uranium mineralisation occurs in a sequence of course fluvial, arkosic sandstones of the Eocene Battle Spring Formation. The sequence was deposited as a “wet” alluvial fan, shed south-south westerly from the Granite Mountains with mineralisation in a distal facies of the fan complex. The location of the main uraniferous trends within the WildHorse claims is shown in Figure 6 above. The stratigraphy of the mineralised interval in the REB trend was subdivided into five sand intervals separated by finer grained mudstone or shale intervals.