SIM way too cheap at these prices...What a great day to announce...

SIM way too cheap at these prices...

What a great day to announce such good news....

Should be 60-70c on Yanrey alone let alone the exciting stuff they have in the NT! Do your research and you will jump all over the very low marky cap U company - I know I did!
___________________________

25th October 2006
ASX Release
Scimitar expands uranium mineralisation at Yanrey Uranium Project
The directors of Scimitar Resources Ltd (Scimitar) (ASX code SIM) are pleased to announce
that the second round of drilling has been completed at the Company’s 100% owned Yanrey
Uranium Project, situated 85 kilometres to the south of Onslow, Western Australia. A total of
22 holes have been completed for a total of 2,485 metres.
This program was a follow up to Scimitar’s first program conducted in June/July 2006 with
significant results from the September program including:

YNAC024 1.75m @ 695 ppm eU3O8
Incl. 0.65m @ 1511 ppm eU3O8
YNAC029 5.15m @ 227 ppm eU3O8
YNAC037 2.95m @ 508 ppm eU3O8
Incl. 1.45m @ 746 ppm eU3O8
YNAC042 1.10m @ 430 ppm eU3O8
YNAC044 2.85m @ 266 ppm eU3O8

The project was explored by CRAE in the 1970’s and early 1980’s where broad spaced
drilling identified roll front uranium mineralisation over four kilometres. The two drill programs
completed by Scimitar have expanded the known mineralisation and provided more detailed
information on the controls of the mineralisation. Mineralisation intersected to date is
indicative of a roll front redox style and reflects a contrast between oxidised quartz sands
(limonite dominated) and the reduced sediments (pyrite, carbon and lignite dominated) of the
Nanutarra Formation. This drilling has enabled a greater understanding of the Bennett Well
system, which will assist in future drill programs.
Results from the air core program are shown in Table 1. Higher grade mineralisation appears
to be present in three main areas or cells centred on YRH 142 (1.7m @ 4,680 ppm eU3O8)
and another to the north centred on YNAC037. YNAC024 is located one kilometre to the north east of hole YNAC037 and represents a new area of higher grade mineralisation that
requires further infill and exploration drilling and may also represent an additional channel
sequence.
The company is continuing to review the results to date and more detailed analysis will be
provided in the September quarterly report.

All holes were logged with an Auslog A75 total count gamma tool and selected holes were
cased with PVC pipe. The gamma tool was calibrated in Adelaide at the Department of
Water, Land and Biodiversity Conservation in calibration pits constructed under the
supervision of CSIRO. The gamma tool took readings in total counts at intervals of 5
centimetres with the highest being 3912 counts per second from 54.53 metres in hole
YNAC024 with an estimated grade of 2715 ppm eU3O8. The grade was calculated by
David Wilson BSc MSc with adjustments regarding hole diameter and water levels taken into
account. Samples will be analysed to confirm uranium grades and check for disequilibrium.

Yours faithfully
Terry Topping

Managing Director