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Ezulwini Underground Mine Project

The following table is a summary of the estimated mineral resource of First Uranium’s Ezulwini Project as set out in the Technical Report – Preliminary Assessment of the Ezulwini Project as revised on May 9, 2007. A copy of the full technical report is available on this website (click on ‘regulatory filings’).

Measured Reef
Tonnes

(t 000s)
Gold Grade

(g/t)
U3O8Grade

(%)
Cont. Gold

(oz 000s)
Cont. U3O8

(lb 000s)
UE Shaft Pillar 2,490 7.7 - 615 -
Middle Elsburg 2,450 4.9 0.072 384 3,888
Total 4,940 6.3 n/a 999 3,888


Indicated Reef
Tonnes

(t 000s)
Gold Grade

(g/t)
U3O8Grade

(%)
Cont. Gold

(oz 000s)
Cont. U3O8

(lb 000s)
UE Shaft Pillar 3,640 5.8 - 683 -
Middle Elsburg 1,370 5.8 0.095 257 2,880
Total 5,010 5.8 n/a 940 2,880


Measured Reef & Indicated Reef
Tonnes

(t 000s)
Gold Grade

(g/t)
U3O8Grade

(%)
Cont. Gold

(oz 000s)
Cont. U3O8

(lb 000s)
UE Shaft Pillar 6,130 6.6 - 1,298 -
Middle Elsburg 3,820 5.2 0.080 641 6,768
Total 9,950 6.1 n/a 1,939 6,768


Inferred Reef
Tonnes

(t 000s)
Gold Grade

(g/t)
U3O8 Grade

(%)
Cont. Gold

(oz 000s)
Cont. U3O8

(lb 000s)
Upper Elsburg 64,550 5.8 - 12,055 -
Middle Elsburg Channel 4,810 2.3 - 351 -
Middle Elsburg 132,100 4.7 0.075 19,742 218,319
Total 201,460 5.0 n/a 32,148 218,319


Notes:

  1. CIM definitions were followed for mineral resources.

  2. Mineral resources in the Upper Elsburg shaft pillar are estimated at a 4.0 g/t Au cutoff grade.

  3. Mineral resources are estimated using an average long-term gold price of US$500 per ounce, and a US$/R exchange rate of 7.0.

  4. A minimum mining width of 1.53 m was used.

  5. Rows and columns may not add exactly due to rounding.

  6. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Click here to download the Ezulwini Technical Report