JORC-Compliant Inferred Resource of �30 Mlbs� (13,600t) U₃O₈ Established at Pecs Project, Hungary

19^th July 2007

International uranium developer, WildHorse Energy Limited (ASX:WHE) is pleased to announce its first JORC-compliant Inferred Mineral Resource at the Pecs uranium project in southern Hungary.

WildHorse has established an initial JORC-compliant Inferred Mineral Resource of 17.0 million tonnes @ 0.08%, for 30 million pounds (13,600 tonnes) of U₃O₈, at a lower cut-off of 400ppm, for the P�cs uranium deposits in southern Hungary.� The resource estimation has been independently completed by RSG Global Consulting, a subsidiary company of Coffey Mining.

WildHorse CEO Richard Pearce said the results were a major milestone for the Company and its shareholders.� “These results are highly encouraging for the project and WildHorse’s strategy to establish a major uranium producing company in Europe,” Mr Pearce said.

Although detailed studies will be needed to determine the economic and environmental consequences of potential mining, these results provide the basis to move ahead to the next stage.

The resource area currently only covers a relatively small portion of WildHorse’s project area and is based on the geological modeling undertaken by RSG Global.� There is considerable potential to extend the resource in all directions.� Work will commence as soon as possible, with targeted drilling in and around existing historical drill holes which contained uranium mineralisation.� As well as potentially increasing the size of the resource, this drilling will be used to bring the status of this deposit to an indicated resource.

The estimates are based on extensive historical drilling and radiometric and assay data that has now been verified by RSG Global, following QAQC procedure, and incorporated into new digital databases. �Surpac software was used to construct wire frames and block grades were estimated by ordinary kriging. �

The Company’s previously stated objective was to report 45 million pounds of JORC compliant uranium resource by November 2008.� As a result of this initial success at P�cs and the likelihood that the resource will increase significantly, together with the progress being made in Wyoming and elsewhere, WildHorse has increased its targeted JORC uranium resource to 100Mlbs by the end of 2008.

For further information and maps, see www.wildhorse.com.au or contact:

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The P�cs Project

Overview

WildHorse’s P�cs project is located in the western Mecsek Mountains of southern Hungary, approximately 170km south-southwest of the capital Budapest.� The project is located immediately northwest of the city of P�cs which has a population of some 170,000.� P�cs is an educational and industrial centre with a history of uranium and coal mining.

The initial JORC compliant inferred resource of 30 million pounds for the P�cs project is shown in Figure 2 below.

Figure 2: JORC compliant inferred resource for Pecs

The information in this report that relates to the Mineral Resource is based on information compiled by Jan Pieter de Visser, who is a Member of The Australasian Institute of Mining and Metallurgy and is employed by RSG Global Consulting Pty Ltd.�  Mr De Visser has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'.� Mr De Visser consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The P�cs Project comprises some 43km² (10,600 acres) covering extensively explored ground, with uranium mineralisation. �The Company has more than tripled its project area since listing on the Australian Stock Exchange in November 2006.�

WildHorse’s project area is immediately adjacent to the former Mecsek uranium mine which was operated by the state owned Mecsek Ore Mining Company (MOMC) prior to closing in 1997 due to the depressed uranium price.� At the time of closure, the spot uranium price was around US$10 to US$15 per pound, compared to the spot price today of US$130 per pound.� The Mecsek mine produced some 46 million pounds of uranium metal over a 50 year period.�

The resource area currently only covers a relatively small portion of WildHorse’s project area.� Based on the geological modeling undertaken by RSG Global, there is considerable potential to extend the total resource in all directions with targeted drilling in and around existing historical drill holes.� This potential to increase resources is in zones with incomplete information relating to earlier drill programs, and gaps in previous drilling patterns.

The Company’s project area includes 62 parent holes for 74,301 metres, 61 wedge holes for 26,323 metres and 5 twin holes for 7,258 metres.�

Geology

The Pecs project is situated in the western Mecsek Mountains, which comprise a series of Permian to Jurassic sediments overlying a Cambrian granitic-migmatic basement. �The basement and overlying sedimentary sequence occur as a dome, the result of regional tectonism during the Austrian orogeny (Cretaceous).� The overlying sediments outcrop as an east-west trending anticline, with the sediments enveloping an unexposed basement core. Deep drilling (>1,000m) has intersected the Cambrian basement, while isolated outcrops exist near the Dinnyeberki Project.� The geological setting represents a remnant foreland setting with sequences of Permian to Jurassic sandstone, conglomerate and limestone-dolomite overlain by younger Cretaceous basalt and Miocene to Pleistocene sediments.

Uranium mineralisation is located within Upper Permian sandstones of the K�v�g�sz�l�s Formation, between the reduced K�v�g�sz�l�s Sandstone and the oxidised Cserk�t Sandstone, the same stratigraphic horizon that hosts the Mecsek deposit.� MOMC named the stratigraphy hosting the ore bearing horizon the ‘productive formation’, which varies in thickness between 5m and 120m.� Within the productive formation, the mineralised lenses vary in thickness from <0.5m to 5m, with an average thickness of 1m.� Ore lenses along the redox front generally form amoeboid shapes, with more uniform mineralisation occurring along faults and fractures.� The horizon is offset by late normal faulting, resulting in the ore horizon being displaced.� There is strong consistency between the Company’s project area and the area previously mined by MOMC.

Mineralisation occurs in six different styles including:

�       banded bedding parallel;

�       replacement of microbedding;

�       replacement of fossilised organic/plant matter;

�       mottled-disseminated; and

�       fracture/fault hosted.

Based on the known depth of mineralisation in the former Mecsek mine, it is likely that the ‘productive formation’ occurs at a depth of between 500m and 1000m to the east, while to the north depths are likely to exceed 1200m, below surface.

The main ore minerals are uranium oxides uraninite, coffinite and pitchblende, with samples from drilling and underground mining returning values of between 0.03% to 3.0% U, with an average grade in the order of 0.11% to 0.12% U.

Description of modelling

This resource estimate is based on interpretation of geological observations derived from historical drilling.� Uranium mineralisation occurs within and adjacent to the main sandstone unit which was targeted by previous mining at the Mecsek mine.� The mineralisation is located at a depth of approximately 600m to 1,200m below surface.

Drilling coverage varies from 160m to 400m but most drill holes have one to several, closely spaced wedge holes.� A total of 40 diamond core holes and associated wedge holes have been used in the estimation.� Additional, drilling is available for the northern part of the area, but has been excluded from the resource as they are too widely spaced.

U₃O₈ grade is based on historical down-hole geophysical radiometrics, both continuous and point measurements.� The grade has been estimated by the calibration against XRF assays of core samples collected from adjacent, and partially mined, areas in the same geological setting.

Significant intercepts of more than 0.5m wide and above 200ppm U₃O₈ have been accumulated for each drill hole intersection.� This approach was necessitated by the occurrence of multiple mineralised bodies internal to the host horizon.� The total width of mineralised material was also recorded against the width of the host horizon.�

Statistical analyses on the accumulated composites, were completed and outliers reduced where appropriate.� Variography and search neighbourhood analysis were also conducted as input into the grade estimation.

The grade estimation method used was Block Ordinary Kriging.� Both the accumulated composites and their total width were interpolated followed by back calculation of the block grade.� Resource tonnage and grade were reported taking the local proportion of mineralised material into account.

Estimates of dry insitu bulk density are based on production records from the nearby former Mecsek uranium mine.� The average dry insitu bulk density used for the resource estimate is 2.5t/m³.�

Resource classification was developed from the confidence levels of key criteria including drilling method, geological understanding and interpretation, grade analysis, data density and location, grade estimation and quality.�

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