Dear all,
Please find below the highlights of an announcement made today regarding an updated Mineral Resource Estimate for the Nyota Prospect, part of the Companys wholly owned Mkuju River Project in southern Tanzania. Highlights: * Significant expansion of the Mineral Resource Estimate (MRE) to 101.4 Mlbs U3O8, an 20% increase from the previous statement (84.3 Mlbs); * Total Measured and Indicated Resources increased to 65.5 Mlbs U3O8 or 65% of the MRE; * A 200 ppm U3O8 lower cut-off grade has been maintained and the average grade of the MRE is 422 ppm U3O8; * Majority of the MRE is within 60 metres of surface; * Aggressive and successful drilling has lead to rapid growth in the MRE and the potential exists to continue to increase the resource base with ongoing work; and * Upgraded MRE to be fully integrated into the Phase 1 Definitive Feasibility Study (DFS).
Mkuju River Project - Nyota Prospect Mineral Resource Estimate as at 15 November 2010 Reported at a lower cut-off grade of 200 ppm U3O8
Tonnage (million tonnes) Grade (U3O8 ppm) Contained U3O8 (million pounds) Measured Resource 40.9 442 39.9 Indicated Resource 26.8 433 25.6 Total Measured & Indicated 67.7 439 65.5 Inferred Resource 41.2 395 35.9 Total Resource 108.9 422 101.4
The full announcement can be viewed by clicking on the following link:
http://mantraresources.com.au/upload/documents/releases/asx/20101116_101 116-MRP_MRE_final.pdf
Please dont hesitate to contact Peter Breese, Robert Behets or Alex Buck if you have any questions.
Regards
Peter Breese Chief Executive Officer
A: Level 9, The BGC Centre, 28 The Esplanade, PERTH WA 6000 T: +618 9322 6322 F: 618 9322 6558 in Australia T: +27 (0)11 467 2172 F: +27 (0)86 658 3476 M: +27 (0)82 888 6852 in South Africa E: W: www.mantraresources.com.au
Robert Behets Executive Director
A: Level 9, The BGC Centre, 28 The Esplanade, PERTH WA 6000 T: 618 9322 6322 F: 618 9322 6558 E: W: www.mantraresources.com.au
Alex Buck Investor Relations
T: +44 7932 740 452 E:
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