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About: The Isa Uranium Joint Venture, located 40 kilometres north of Mt Isa, in northern Queensland, consists of three major uranium deposits, namely; Skal, Odin and Valhalla. These uranium deposits are considered to be important to the future of the Queensland economy and to the general Australian economy, if world demand for uranium increases, as it is forecast to occur, in the latter half of the 2000's.

Isa Uranium Joint Venture Owned by Paladin Energy Limited

The Isa Uranium Joint Venture partners include; Summit Resources (Aust.) Pty Ltd (50 percent) and Mount Isa Uranium Pty Ltd (50 percent). Mount Isa Uranium Pty Ltd is a subsidiary company belonging to Valhalla Uranium Pty Ltd. Valhalla Uranium was formerly a public company but it is now fully owned by Paladin Energy Limited. Paladin Energy Limited therefore holds over 91 percent interest in the Isa Uranium Joint Venture because of its over 82 percent interest in Summit Resources.

Paladin Energy is a Global Uranium Resource Company

Paladin Energy Limited is listed on the Nambian Stock Exchange, the Toronto Stock Exchange and the Australian Securities Exchange. It also trades on the Frankfurt, Stuttgart, Berlin and Munich Exchanges. Paladin is an uranium producing resource company operating two mines in Africa and the Isa Uranium Joint Venture in Australia. It is aiming to become a major world uranium producer.

The Skal Deposit is Part of the Isa Uranium Project

The Skal uranium deposit was discovered 30 kilometres north of the regional centre of Mt Isa. The drilling of 57 holes totalling 9,592 metres of the deposit was completed in 2011. The drilling completed resource drill outs of 40 metres by 40 metres. The Skal uranium deposit consists of a number of ore lenses that are concentrated in four main zones within an area of two square kilometres.

Odin Uranium Deposit is Included in the Isa Uranium Project

The Odin uranium deposit is located 41 kilometres north of Mt Isa and just one kilometre north of the Valhalla uranium deposit. In 2010 a 99 hole totalling 16,044 metres resource definition drilling program was completed on the Odin deposit. The Odin deposit contains two mineral lenses and a strike length of 600 metres.

The Isa Uranium Project Includes the Valhalla Deposit

The Valhalla uranium deposit that is located 40 kilometres north of Mt Isa was discovered in 1954.

The first work on the deposit was carried out by MIM when it sunk an exploration shaft into the mineralised ore body. Queensland Mines Limited took over the project in the 1960's and carried out extensive drilling programs until 1992 when Summit Resources Limited acquired it. The Mt Isa Joint Venture with Valhalla Uranium Limited identified the Valhalla uranium deposit as being significant remaining open along strike to the south and north and at length.

The Isa Uranium Joint Venture program's further development will depend on political decisions on whether mining of uranium should be allowed to occur in Queensland as much as that of world demand for the product.

Paladin Energy Ltd

Paladin Energy is a uranium production company with projects currently in Australia and Africa.The Company's Queensland project, The Isa Uranium Joint Venture partners include; Summit Resources (Aust.) Pty Ltd (50 percent) and Mount Isa Uranium Pty Ltd (50 percent). Mount Isa Uranium Pty Ltd is more


Paladin Energy Ltd
Level 4, 502 Hay Street
Subiaco, WA 6008

Po Box 201
Subiaco, WA 6904



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