'giralia continues to grow uranium portfolio' arti

Giralia grows uranium portfolio

Tuesday, August 30, 2005
GIRALIA Resources has added to its uranium portfolio with the acquisition of two new adjoining tenements in the Kimberley region, as the junior continues to flag the likelihood of spinning-out its uranium assets into a separate company.

The junior has agreed to purchase the two new exploration tenements, including the Mad Gap uranium prospect, from private undisclosed interests for a consideration of 60,000 shares and a further 200,000 shares in a proposed new uranium company.

The vendors retain rights to any diamond deposits found.

Giralia said historical rock chip sampling on the Mad Gap tenements during the 1970s returned assays up to 4.65% uranium oxide from pits on outcropping secondary uranium mineralisation located along joints and cracks within highly weathered sandstones.

The junior's uranium portfolio comprises projects over three states including Western Australia, Queensland and South Australia, with applications pending in New South Wales

Giralia is also involved in two joint ventures, namely a 25% interest in the Lake Frome joint venture in South Australia with producer Heathgate Resources, and a 51% stake in the Anglo joint venture in Western Australia involving Cogema subsidiary Mines and Resource Australia.

Shares in Giralia remained unchanged during the days trade to close at 31c.

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