43a Fullarton Road Kent Town SA 5067 Australia T: +61 8 8363 7970 F: +61 8 8363 7963 E: [email protected] W: www.uxa.com.au 3 September 2012 The Manager Company Announcements Office Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000 ASX ANNOUNCEMENT UXA granted Commonwealth Hill tenement near Challenger gold mine, SA UXA Resources Limited (ASX: UXA) is pleased to announce that it has been granted the Commonwealth Hill exploration licence (EL 4971) in South Australia. Commonwealth Hill is located 15km north of Kingsgate’s Challenger gold mine (3 million ounces of contained gold), and 150km north west of Tarcoola in central South Australia. The area has drawn recent interest with Trafford Resources acquiring a 51% interest in a joint venture with Kingsgate's Dominion Gold Operations on tenements adjacent to the Challenger mine last month. Commonwealth Hill is prospective for lode gold deposits similar to the Challenger gold mine and palaeochannel uranium deposits, similar to the Beverley uranium mine in South Australia. Previous exploration has identified the Garford palaeochannel (uranium) and the Nemesis gold prospect where a 1.5km long gold in calcrete anomaly has been inadequately tested by previous widely spaced shallow vertical drill-holes. With the licence now granted, negotiations with the Department of Defence are underway to enable access within the green zone of the Woomera Prohibited Area, where the prospect is located. Once access agreements have been executed, an exploration program will commence. For further information, contact. Russell Penney Managing Director. Tel: +61 8 8363 7970 Email: [email protected] Website: www.uxa.com.au Technical Information in this report is based on information compiled by Dr Russell Penney who is employed by UXA Resources Limited and who is a Fellow of The Australasian Institute of Mining and Metallurgy. Dr Penney has sufficient exploration experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (“JORC 2004”). Dr Penney consents to the inclusion in this release of the matters based on his information in the form and context in which it appears. ABOUT UXA RESOURCES UXA Resources Limited (ASX:UXA) is a diversified explorer with a pipeline of highly prospective tenements throughout Australia, all located within world class mining provinces and near existing infrastructure. UXA also owns GAA Wireline an independently managed borehole wireline logging company operating in Australia and the United States of America. The company has a three-pronged strategy to deliver growth and increase shareholder value, via: 1. Development of its flagship assets, Mundi Plains zinc-lead-silver project in NSW and SA and the Nabarlek uranium project in NT; 2. Retained exposure to advanced exploration projects via strategic joint ventures; and 3. Expanding markets for its 100%-owned GAA Wireline borehole logging business, which has exclusive global rights to the increasingly utilised PFN technology As a testament to the quality of UXA’s exploration portfolio, the company has attracted several highly regarded strategic partners from among the world’s most renowned and prominent resources companies, including Reliance Industries of India, and Teck Resources of Canada, as well as ASXlisted Straits Resources. These partners provide additional capital, scope and expertise to accelerate UXA’s major exploration programs. More information on UXA can be found on our website at www.uxa.com.au
TRF Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
