Executive Summary
Murchison United NL continues to review existing assets and investigate resource opportunities in Australia and internationally to assess their appropriateness for the Company. The broader strategy of Murchison apart from its existing assets is to focus on energy related assets. The company owns Millenium Leases in Queensland Australia. The Millenium leases are located some 35 kilometres west-north-west of Cloncurry. The leases cover an area on some 3.5 kilometers long and 500 meters wide. The leased area has old workings (early 1900's), exploration costeans and drill pad sites which were directed to the exploitation of copper ore. Murchison is awaiting the finalisation of the contract geologist's report. This report will enable an assessment of the prospectivity of the area and, if warranted, would enable the preparation of a well targeted drilling program. Also, the company has been granted six Uranium exploration licences in the Republic of Guinea, and has applied for a further six licences in the Republic of Mauritania.
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