30 October 2013
ASX Market Announcements Office via electronic lodgement
Sale of Interest in Energia Minerals Limited
Uranium Equities (ASX: UEQ) advises that it has entered into an agreement to sell its
18.52% interest in Energia Minerals Limited (ASX: EMX) to ASX-listed uranium explorer
Enterprise Uranium Limited (ASX: ENU).
The Company's 37,280,714 Energia shares will be transferred to Enterprise Uranium for
2.2 cents per share for a total consideration of $820,176, payable on completion as follows:
$500,000 in cash; and
The balance in fully paid ordinary shares in Enterprise Uranium at an issue price of 4.0 cents (for a total 8,004,393 shares).
Upon completion, Uranium Equities will hold a 10.49% interest in Enterprise Uranium, a
Perth based explorer currently focussed on uranium assets in Western Australia.
Bryn Jones
Managing Director
Our Strengths
• Nabarlek - rare near mine exploration portfolio
• Multiple IOCGU targets to be drilled in November 2013
ASX: UEQ
About Uranium Equities
Uranium Equities Limited (UEQ) is a uranium explorer with exploration activities directed at high quality exploration assets in Australia's premier uranium districts.
UEQ's key asset, the Nabarlek Project, provides a rare near mine exploration opportunity surrounding the historical Nabarlek uranium deposit (previous production: 24 Mlb @ 1.84% U3O8). The deposit lies within an extensive uranium mineral system which extends over more than 50 square kilometres within the Mineral Lease and the surrounding tenements. The mineral system which contains widespread anomalous uranium geochemistry and ore grade mineralisation at several locations remains largely untested.
The Company's Oodnadatta and Marla projects are located on the Gawler Craton, the premier region for Iron-oxide Copper - Gold ± Uranium (IOCGU) mineralisation which hosts deposits such as Olympic Dam, Prominent Hill and Carrapateena. Multiple targets, characterised by coincident gravity and magnetic anomalism in areas of complex structural interactions, have been identified.
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