WHITE CANYON URANIUM LIMITED - ASX: WCU

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Description

White Canyon Uranium Ltd, headquartered in Perth, Western Australia is focused on exploration, recovery and production of U308 uranium. The company operates in North America as White Canyon Uranium, North America and holds multiple mining claims in the uranium rich area of Southern Utah and has been in production since 2009, one of only a few companies in the United States who have moved beyond exploration and permititng and into actual production. The company expects to participate in the growing demand for uranium as a safe, green energy source for the rapidly expanding development and construction of Nuclear power generation plants worldwide.

DANEROS AND LARK ROYAL

The Daneros uranium deposit is a “brownfields” virgin exploration discovery in close proximity to major past producing uranium mines of the Red Canyon mining area, including Lark, Bullseye, Spook and Radium King. The area is well endowed with production infrastructure and 100 km by road from the White Mesa Uranium Mill (Denison Mines). The Daneros Deposit was discovered by Utah Power & Light in exploration that concluded in the 1980s with an historical “reserve” calculation (details can be found in White Canyon's Dec 2007 IPO Prospectus). The deposit was not mined due to a fall in the uranium price.

In December 2008 White Canyon completed the purchase of 33 mining claims, known as the Lark-Royal Project, covering an area of 276 hectares (682 acres), adjacent to the Daneros mine development project, from Canadian-based Uranium One Inc. Lark-Royal covers the northern extensions of the Company’s Daneros uranium deposit. The Lark-Royal claims also cover the location of the Daneros decline portal as well as the surface facilities, including waste dump and an ore pad, for the Daneros mine. There will be considerable cost and operational benefits from the location of these facilities on the Lark-Royal claims rather on the original Daneros claims.

THOMPSON PROJECT, MOAB, UTAH

USGS 1950's

* 6 programs for >1,700 drill holes from 200,000 feet identified 140,000t (non-JORC compliant)
* Average drilling grades 0.25% U3O8 1.3% Va2O5

Deposits already defined and requiring drill-out, early potential for resource definition.

The Thompson Project is located near the junction of Interstate 70 and County Road 163, 30km north of the regional centre of Moab in Grand County, Utah. The project area covers the Yellow Cat area of the historical Thompson uranium mining district. Uranium mineralization in the Thompson deposits occurs in the Jurassic Morrison Formation, in four sandstone lenses and in conglomeratic sandstone, as the mineral carnotite (a vanadium-uranium mineral).

GEITUS URANIUM DEPOSIT

WCU holds a 100% interest in 7 tenements (6 Federal claims and 1 State lease) which extend over a total area of 196 ha (484 acres) in San Juan County, Utah.

The Geitus Deposit was discovered by Utah Power & Light in exploration that concluded in the 1980s with an historical “reserve” calculation (details can be found in pages 12-15 of White Canyon's Dec 2007 IPO Prospectus). The deposit was not mined due to the fall in the uranium price at that time. It is accessed by established county roads and is 50 km west of the White Mesa Mill.

As at Daneros, the Geitus Deposit is hosted within shallow dipping laminated sandstone units of the basal Shinarump Member of the Chinle Formation. The deposit is tabular, ranging up to several hundred metres in length and from 0.3 m to 4 m in thickness. The uranium mineralisation is associated with the contact between the Shinarump Member and the underlying Triassic Moenkopi Formation sedimentary sequence.

BLUE JAY PROJECT, BLANDING, UTAH

WCU holds a 100% interest in 14 claims which extend over a total area of 117 ha (289 acres) in San Juan County, Utah.

MARCY-LOOK PROJECT, BLANDING, UTAH

WCU holds a 100% interest in 44 claims which extend over a total area of 367 ha (907 acres) in San Juan County, Utah.

Mine For

uranium

Location of operation(s)

USA

Address

Se 101, 48 Outram St
WEST PERTH, WA, AUSTRALIA

Phone

(61 8) 9481 6004

Email

Website

http://www.whitecanyonuranium.com.au

Last Updated

5/5/2011