NIGER

Agelal Block Target Areas

Agelal Target Area 1: This area lies in the Agelal 2 license, immediately west of the Cominak cluster of uranium deposits on the down-dropped side of the Arlit fault where Cogema (Areva’s predecessor) drilled a series of exploration holes in the 1970s, several of which intersected radioactive rocks in the uranium-bearing Guezomann Formation, the same formation that hosts the Cominak deposits to the immediate east and within the same fault-bounded west-southwest graben or mini-basin that hosts them, as well. Gamma logs of these historical holes are the basis for recognizing these intercepts, along with reference in the Cogema logs to anomalous radioactivity of the highest category in the logs, somewhat enigmatically referred to as “7 MP” (“movement propre” ). Isopach data obtained by Homeland for this area across both sides of the fault, which post-dates Guezomann deposition, indicates a west-southwest trending sedimentary channel extending beyond the Cominak deposits and across the fault (which did not exist during Guezouman time). Mineralization in this target area is estimated in the 600 meter range, similar to some of the deeper Guezouman hosted deposits in the nearby Cominak cluster.



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Agelal Target Area 2: This target area lies to the south of Agelal Target Area 1, in the northeast corner of the Agelal 4 license, the southeastern-most of the four Agelal block licenses. A number of holes drilled by Cogema in this area, within a separate structural block, returned “7 MP” values from intercepts through the Tarat Formation, that which overlies the Guezomann and hosts the Somair cluster of deposits, located 25-30 kilometers to the north, along and on the east side of the Arlit fault. Depth to target in this area is 500 meters or more.



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