Exploration Projects

Permitted Mines »

Property Name	Generalized Location	Claims	Acres	Historic U₃O₈ Grades	Remarks
Whirlwind Mine Area
Whirlwind Mine	Unpatented BLM Mining Claims; Mesa County, Co. and Grand County, Utah	57	1,140	0.28%	Fully permitted and rehabilitated mine (Morrison Fm); currently on Stand-by. NI 43-101 compliant (Measured+Indicated) resource of 860,400 lbs U₃O₈ and 2,899,200 lbs V₂O₅ plus Inferred Resources of 2 million lbs U₃O₈ and 6.47 million lbs V₂O₅. Considerable potential for expansion. See filed 43-101 report for details.
Far West	Unpatented BLM Mining Claims; Mesa County, Co. and Grand County, Utah	114	2,280	0.28%	Included Above
Crosswind	Unpatented BLM Mining Claims; Mesa County, Colorado	45	900	0.28%	Included Above
Utah State Sec. 16	Utah State School Trust mineral lease; Grand County, Utah.		320	0.28%	Included Above
Energy Queen Mine Area
Energy Queen Mine	Private land and minerals, San Juan County, Utah		702	0.31%	Fully permitted mine (Morrison Fm); currently on Stand-by. NI 43-101 compliant (M+Ind) resources of 1,214,700 lbs U₃O₈ and 4,938,700 lbs V₂O₅plus Inf. Resources of 437,000 lbs U₃O₈ and 1,860,000 lbs V₂O₅. Considerable potential for expansion. See 43-101 report for details.
Redd Sec. 25/36 T28S R23E	Private land and minerals, San Juan County, Utah		320	0.31%	Exploration project near the Energy Queen Mine-along the Morrison channel trend.
Utah St. Lease — ML 51440	Utah State School Trust mineral lease; San Juan County, Utah		160	0.31%	Exploration project near the Energy Queen Mine-along the Morrison channel trend.
RM/Judas	Unpatented BLM Mining Claims; San Juan County, Utah	29	520	0.31%	Exploration project contiguous with the Energy Queen Mine-along the Morrison channel trend.

DOE Lease Tracts »

Property Name	Generalized Location	Claims	Acres	Historic U₃O₈ Grades	Remarks
C-SR-16A	Slick Rock Hill, San Miguel County, Colorado		585	0.29%	Historic producing area; low-priority Morrison exploration project.
C-AM-19A	Atkinson Mesa, Montrose County, Colorado		1.204	0.25%	Adjacent to large historic producer, King Solomon Mine. The AEC estimated resources (Non-43-101 compliant) of up to 1,500,000 lbs U₃O₈ in the Morrison Fm. when the tract was first offered for bid in 1974.
C-AM-20	Atkinson Mesa, Montrose County, Colorado		627	0.27%	Located in a prolific historic producing district. The AEC estimated resources (Non-43-101 compliant) of up to 800,000 lbs U₃O₈ in the Morrison Fm. when the tract was first offered for bid in 1974.
C-CM-24	Club Mesa, Montrose County, Colorado		201	0.25%	Active exploration project for uranium-vanadium deposits in the Salt Wash Member of the Morrison Formation; joins Henry Claims.
C-G-26	Calamity Mesa, Mesa County, Colorado		3,989	0.37%	Adjacent to a good historic producer (New Verde Mine). Drill indicated resources (Non-43-101 compliant) of 397,000 lbs U₃O₈ and 1,622,600 lbs V₂O₅in the Morrison Fm. Active exploration project.
C-G-27	Outlaw Mesa, Mesa County, Colorado		1,766	0.33%	Located in a prolific historic producing district. Drill indicated resources (Non-43-101 compliant) of 336,200 lbs U₃O₈ and 1,513,100 lbs V₂O₅in the Morrison Fm.

Magnum Uranium Properties »

Property Name	Generalized Location	Claims	Acres	Historic U₃O₈ Grades	Remarks
Utah
San Rafael (Green River) BM Claim group	Unpatented BLM Mining Claims and Utah School mineral lease, Emery County, Utah	205	4,870	0.19%	Historic producing district (Snow, Probe, and other mines) from the Morrison Formation. Two NI 43-101 compliant deposits combine for 1,392,500 lbs U₃O₈ M+Ind. and 1,337,200 lbs Inf. Additional drill-indicated non-43-101 compliant resources of approximately 734,000 lbs are estimated on the property.
Cedar Mtn. MUC Claim Group	Unpatented BLM Mining Claims and Utah School mineral lease, Emery County, Utah	29	1,220	0.05%	Non-compliant 43-101 resource estimate of approximately 2.2 mm lbs in the upper part of the Morrison Fm. Low-priority exploration project.
Wyoming
35-75 Project PACO Claims	Unpatented claims and two private leases (Two ranches and PacifiCorp) in Converse County, Wyoming.	26	1,160	0.12%	Known stacked roll front deposits in the Wasatch and Fort Union Formations with a potential (non-43-101 compliant) of 1,000,000+ lbs U₃O₈. Adjacent to Cameco's Smith Ranch ISL uranium operation.
Wild Buck HP Claims	Unpatented claims with private surface (PacifiCorp) in Converse County, Wyoming.	18	365	0.07%	A roll front deposit in the Fort Union with an estimated (non-43-101 compliant) 350,000 lbs U₃O₈. It is open-ended on both ends with excellent potential to expand.
Turnercrest WIMR Claims	Unpatented claims, some with private surface, and a State lease in Converse and Campbell counties, Wyoming.	28	565	0.10%	Exploration project for roll front deposits in the Wasatch and Fort Union Formations. Covers 1.5 miles of known redox front with shallow past production.
Wyoming St lease 0-41203			640
New Mexico
Martinez Canyon MAG & YESO claims	Unpatented claims on USFS land in Rio Arriba County, NM.	74	1,500	0.11%	Jackpile member of the Morrison Formation drill-indicated deposit (non-43-101 compliant) of about 700,000 lbs U₃O₈, still open-ended.
Canada
Two contiguous and one outlying mineral claims in NE Athabasca Basin; 75 km NW of McClean Lake and Rabbit Lake, Saskatchewan	Stony Road- Saskatchewan	3	31,713		Geology, geophysical, geochemical, structural, and other core-drill data suggest prospective host rocks occur for unconformity-type uranium deposits 500-600m deep.

Joint Venture Properties »

Property Name	Generalized Location	Claims	Acres	Historic U₃O₈ Grades	Remarks
West Lisbon JV
DAR Claims-West Lisbon	Unpatented BLM Mining Claims; San Juan County, Utah	60	1,240	0.30%	Historic drill-indicated mineralization occurs in the Moss Back Member of the Chinle Formation. Low-priority exploration project.
Colorado Plateau Partners JV
Hop Creek (LK claim groups)	Unpatented USFS Mining Claims; San Juan County, Utah	43	880	0.27%	Historic drill-indicated mineralization occurs in the Salt Wash Member of the Morrison Formation. Active exploration project.
Spud Patch (LG and LH claim groups)	Unpatented BLM Mining Claims and private surface land-San Miguel County, Colorado	36	740	0.15%	Active exploration area for Morrison potential near historic producing mines. Grades of past production exceed 2% V₂O₅.
Sage Plain-Utah State Leases	Utah State School lands; San Juan County, Utah		800	0.17%	Low-priority exploration project in the trend of large historic Morrison producing mines (Deramo, Calliham, Wilson-Silver Bell, Sage mines). High V₂O₅:U₃O₈ ratio (~9.2:1)

Other Exploration Properties »

Property Name	Generalized Location	Claims	Acres	Historic U₃O₈ Grades	Remarks
Torbyn Mine-Tenderfoot Mesa	Unpatented BLM Mining Claims; Mesa County, Colorado	70	1,400	0.31%	Historic producer (Morrison Formation); active exploration for potential reactivation. NI 43-101 compliant resource of about 89,300 lbs U₃O₈ and 323,100 lbs V₂O₅. See the filed 43-101. Drilling since the report was filed added about 43,100 lbs U₃O₈ and 161,100 lbs V₂O₅(non-43-101 compliant).
HC Claim Group-Calamity Mesa	Unpatented BLM Mining Claims; Mesa County, Colorado	42	840	0.36%	Historic producer(Morrison Formation-New Verde Mine), active exploration in conjunction with DOE lease tract G-26 for potential reactivation.
Henry et al Claim Group-Club Mesa	Unpatented BLM Mining Claims; Montrose County, Colorado	20	400	0.25%	Exploration project for uranium-vanadium deposits in the Salt Wash Member of the Morrison Formation; joins DOE lease tract CM-24.
Willhunt	Unpatented BLM Mining Claims; San Miguel County, Colorado	13	260	0.20%	Continuation of the channel trend of a nearby historic Morrison producer (Denison's Sunday-Carnation mine complex). NI-43-101 compliant resources (M+Ind) of 484,000 lbs U₃O₈ and 2,420,000 lbs V₂O₅. See the filed 43-101 report. Additional 66,000 lbs U₃O₈ and 330,000 lbs V₂O₅(non-compliant) was added by drilling after the report was filed.
Cliffdweller	Unpatented Mining Claims on US BLM Land-San Miguel County, Colorado	5	103	0.13%	Low-priority exploration project; part of the same lease as the Farmer Girl Mine.
Farmer Girl	Both patented and unpatented BLM Mining Claims; Montrose County, Colorado	19	235	0.24%	Historic producer (Morrison Formation); active exploration for potential reactivation. NI 43-101 compliant resource of about 74,200 lbs U₃O₈ and 371,100 lbs V₂O₅(plus non-compliant Inf. Resources of 135,000 lbs U₃O₈ and 495,000 lbs V₂O₅). See the filed 43-101.
Arths Pasture	Unpatented Mining Claims on US BLM land and Utah STILA mineral lease, Grand County, Utah	161	3,220	0.25%	Historic drill-indicated mineralization (~96,000 lbs U₃O₈ non-compliant) occurs in the Moss Back Member of the Chinle Formation. Low-priority exploration project.
Yellow Cat-Ethan Group	Unpatented BLM Mining Claims and Utah State School mineral lease, Grand County, Utah	32	640	0.26%	Historic drill-indicated mineralization occurs in the Salt Wash Member of the Morrison Formation. Low-priority exploration project. Non-compliant M+Ind resource estimate of 206,000 lbs U₃O₈ and 833,600 lbs V₂O₅.