joint ventures

Taken from the Mega Uranium website (TSX-MGA)

Hindmarsh Resources

Property Overview

Mega’s wholly-owned subsidiary, Hindmarsh Resources Ltd, holds, or is earning interests in, exploration tenements totaling over 14500 km2 in South Australia.

In a number of the properties Hindmarsh has agreements with other parties as follows:

Tallaringa South/North (total 1495 km2): The Australian public company, Southern Gold Ltd, is earning 30% of the uranium rights from Hindmarsh through funding expenditure of A$400,000 by August 15, 2007 in exploration programmes managed by Hindmarsh.


Garford, Indooroopilly and Half Moon Lake (total 1510 km2): Hindmarsh can earn 51% of the uranium rights from Southern Gold through expenditure of A$250,000 in each property by April 26, 2007. Hindmarsh can then increase its interest to 80% through additional expenditure of A$250,000 in each property over a further 18 month period.


Peterlumbo Hill and Nuckulla Hill (total 955 km2): Hindmarsh can earn a 25% interest in each property from Southern Gold through funding A$250,000 in each property by April 26, 2008. Hindmarsh can then increase its interest to 35% through additional expenditure of A$250,000 in each property within a further two year period.


Corunna (260 km2): Hindmarsh can earn a 51% interest from the Australian public company, Intermet Resources Ltd, by incurring A$200,000 of exploration expenditure by February 2, 2008, and can increase to 80% through additional expenditure of A$400,000 over a further two year period.
South Australia is one of the most attractive uranium exploration targets in the world, based on its geological prospectivity, its favourable regulatory environment, and the State Government’s support and facilitation of uranium exploration. The state contains the world’s largest uranium resource (Olympic Dam), the world’s largest producing ISL uranium mine (Beverley), plus numerous smaller uranium deposits and occurrences of a variety of styles.

The Hindmarsh properties, which are at various exploration stages from grass roots to drill testing, contain potential for uranium discoveries of the Iron Oxide Cu-Au-U (IOCGU) deposit style similar to Olympic Dam, Unconformity-related types, and Sediment-Hosted deposits in Tertiary palaeochannels similar to the South Australian deposits of Beverley and Honeymoon.