^ A-Cap’s Uranium tenement Portfolio covering in excess of 7000km2
 



Exploration Portfolio

A-Cap holds ten prospecting licences covering a total area of over 7000km2. The majority of the ground held by A-Cap has been previously explored by major companies such as Falconbridge, BCL, Urangesellchaft and Union. All of A-Cap’s tenements have significant radiometric anomalies and indications of uranium mineralisation exposed at surface. Significant discoveries have been made at the Letlhakane Project resulting in an Inferred Resource of 98 Million lb uranium oxide (at
a 100ppm cut-off) that has been defi ned in accordance with the JORC code.

Scoping Study & Project timeline

The scoping study will be completed in Q3 2008 with results to the market by Q4 2008
The scoping study has examined the following factors
1. detailed metallurgical studies
2. processing options (including heap leaching)
3. annual mining rates
4. cut-off and mining grades
5. annual uranium oxide (U3O8) production
6. waste treatment and tailings storage options
7. operational costs
8. capital expenditure
Pending positive results from the scoping study A-Cap believes that it would be feasible to achieve it first Uranium production in 2011. Importantly the project is immediately adjacent to major infrastructure such a; sealed roads, high tension power lines, water and the rail network, these factors will be highly beneficial for any development of the project


Highlights

+ At a cut off grade of 100ppm the Inferred Mineral Resource is estimated at 280 million tonnes of ore at a grade of 158ppm of U3O8 for a contained 44,500 tonnes of U3O8 (98 million lbs U3O8 )
+ These figures represent an 330% increase in tonnes and an 13 % increase in grade leading to an 390% increase in contained metal at the same cut-off (100ppm) when compared to the previous resource estimate.
+ The Letlhakane Global Inferred Resource at a range of cut off grades is presented in the following table. The board of A-Cap is excited by the geological potential of the Letlhakane Project and believes it will substantially grow the resource base with additional drilling. Consequently A-Cap will commit considerable exploration expenditure to drilling in 2008 with an aim to prove up new areas.

 

^ Shows a cumulative Grade Thickness plot for all current Letlhakane drilling. Cumulative Grade thickness (ppm.m) is calculated by multiplying the grade and thickness of an intersection and summing these values for each hole. Yellow arrows indicate areas where the mineralisation remains open (untested by further drilling) these areas will continue to be an exploration focus over the coming months.

 


 

Botswana Prospectivity

Botswana’s neighbouring countries South Africa and Namibia hold approximately 14% of the worlds known Uranium reserves (Source International Atomic Energy Agency). New discoveries and viable resources have been announced in Zambia, Tanzania and Malawi in recent times. Botswana shares a similar geological history to all these areas and the prospectivity for Uranium deposits is therefore similar. At this stage Botswana has no known Uranium Resources and is critically underexplored compared to it neighbours. A-Cap is aiming to be the first company to produce a compliant resource in Botswana from the Letlhakane Project and firmly believes that as further exploration dollars are spent in Botswana it will become a significant contributor to the world uranium inventory.

 
v Mokobaesi Section 7000mE – A thick zone of uranium mineralisation lies within surficial calcrete and the underlying Karoo Supergroup