14 February 2014

Cauldron Energy to Urge Mines Minister to Grant

Licences

Cauldron Energy ("Cauldron" or "the Company") wishes to advise that it will urge the Minister for Mines and Petroleum not to follow the Mining Warden's recommendation to block the granting of three exploration licences to the Company.
The Mining Warden has today recommended that three uranium exploration licences (08/2385, 08/2386 and 08/2387) sought by Cauldron to conduct exploration on and adjacent to pastoral leases on the Minderoo pastoral station in Western Australia's Pilbara region be refused.
In his findings, the Mining Warden recommended refusal of the applications on grounds that, at the time of the hearing in December 2013, Cauldron did not have sufficient funding in place in order to undertake the proposed exploration on the licences.
Cauldron Executive Chairman Tony Sage said he was disappointed by today's decision and would be urging the Minister for Mines and Petroleum, Bill Marmion, to not follow the recommendation of the Mining Warden and to support greenfields exploration.
"However it is critical that the Warden found that based on the detailed independent expert evidence led by Cauldron that exploration could be carried out on the pastoral lease with appropriate conditions," he said.
"While the Warden found the Company does not have the financial capacity to undertake the proposed exploration at the time of the hearing, the Company remains confident it is able to raise funds in order to carry out future exploration."
Mr Sage added that today's decision would not hinder current operations at the Yanrey
uranium project.
"I wish to assure shareholders and the broader market that the decision doesn't impact on our assets in the Yanrey area," Mr Sage said.
"The applications were for extension of ground at the Yanrey project and our current
ground at Yanrey remains unaffected."
Cauldron intends to continue its active exploration in the Yanrey area to further develop the exciting Bennet Well uranium project. For further details regarding recent exploration results, refer to ASX announcement dated 31 January 2014 "Bennet Well Surpasses Expectations."
The Warden will now recommend that the Minister refuse to grant the exploration licences. The Minister is not bound to follow the Warden's recommendation and may grant the exploration licences irrespective of the Warden's recommendation.

ABN 22 102 912 783

32 Harrogate Street, West

Leederville WA 6007

PO Box 1385, West

Leederville WA 6901

ASX code: CXU

178,062,092 shares

7,300,000 unlisted options

Board of Directors

Tony Sage

Executive Chairman

Brett Smith

Executive Director

Qiu Derong

Non-executive Director

Catherine Grant

Company Secretary

32 Harrogate Street, West Leederville WA 6007 Ph: (+618) 9380 9555 Fax: (+618) 9380 9666

PO Box 1385, West Leederville WA 6901 Web: www.cauldronenergy.com.au

Cauldron will keep the market informed regarding developments.

End.

For further information, visit www.cauldronenergy.com.au or contact:

Tony Sage David Tasker/Colin Jacoby

Cauldron Energy Limited Professional Public Relations
Ph: (08) 9380 9555 Ph: (08) 9388 0944

32 Harrogate Street, West Leederville WA 6007 Ph: (+618) 9380 9555 Fax: (+618) 9380 9666

PO Box 1385, West Leederville WA 6901 Web: www.cauldronenergy.com.au