29 June 2009 Australian Securities Exchange Limited Exchange Plaza 2 The Esplanade PERTH WA 6000 Attn: The Manager – Companies Dear Sir, Attached is a technical presentation which was presented at the AusIMM International Uranium conference in Darwin on 10 – 11th June 2009.

• Nabarlek – New Exploration Results and Perspectives, presented by David Brunt.

Yours faithfully,

MARK CHALMERS

Managing Director

The information in this report that relates to Exploration Results is based on information compiled by Mr David Brunt, a full-time employee of Uranium Equities Limited, who is a Fellow of the Australasian Institute of Mining and Metallurgy Inc. Mr. Brunt has sufficient experience in the field of activity being reported to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves, and consents to the release of information in the form and context in which it appears here.

CONTACT: Mark Chalmers, Managing Director 0417 861 482 David Brunt, Executive Director 0419 848 713 Uranium Equities Limited ABN 74 009 799 553 Level 6 West, 50 Grenfell Street Adelaide SA 5000 Tel: +61 8 8110 0700 Fax: +61 8 8110 0777 Email: info@uel.com.au Website: www.uel.com.au

N b l k Nabarlek -New Exploration Results and

P i Perspectives

G Williamson, A Marsland-Smith and D BruntUranium Equities Limited (ASX:UEQ)

Presenter: David Brunt

AusIMM International Uranium Conference 2009Darwin

10th June 2009

1

Disclaimer & Competent Persons Disclaimer & Competent Persons SSStatementStatement Forward Looking Statements

This Presentation may include statements that could be deemed “forward-looking statements”. Although the Company believes the t ti d i h f d l ki t t t b d bl ti h t t t t expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not

guarantees of future performance and actual results or developments may differ materially from those expected in the forward-looking statements or not take place at all.

No offer to sell or invitation to buyThis Presentation is not, and should not be considered to, constitute any offer to sell, or solicitation of an offer to buy, any securities This Presentation is not, and should not be considered to, constitute any offer to sell, or solicitation of an offer to buy, any securities in Uranium Equities Limited, and no part of this Presentation forms the basis of any contract or commitment whatsoever with any person. Uranium Equities Limited does not accept any liability to any person in relation to the distribution or possession of this Presentation from or in any jurisdiction.

DisclaimerWhilst care has been exercised in preparing and presenting this Presentation to the maximum extent permitted by law UraniumWhilst care has been exercised in preparing and presenting this Presentation ,to the maximum extent permitted by law, UraniumEquities Limited and its representatives:- make no representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of this Presentation;- accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this Presentation; and- accept no responsibility for any errors or omissions from this Presentation.p p y y

Receipt of this PresentationIf the recipient of this Presentation has signed any confidentiality or similar agreement covering information of the type herein contained, then the Presentation and all information therein is received subject to that agreement(s).

Competent Person StatementThe information in this presentation that relates to Exploration Results is based on information compiled by Mr. David Brunt, aDirector and Consultant of Uranium Equities Limited, who is a Fellow of the Australasian Institute of Mining and Metallurgy Inc. Mr. Brunt has sufficient experience in the field of activity being reported 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, and consents to the release of information in the form and context in which it appears here.

Nabarlek Nabarlek -- Location & the ARUFLocation & the ARUFNabarlek Nabarlek Location & the ARUFLocation & the ARUF

Nabarlek HistoryNabarlek HistoryNabarlek HistoryNabarlek Historyyyyy

Discovered as a prominent airborne radiometric anomaly by QML – June 1970

Nabarlek Mine 1988Nabarlek Mine 1988 Nabarlek Minesite 2008Nabarlek Minesite 2008

Discovered as a prominent airborne radiometric anomaly by QML – June 1970

Open cut mining completed over 4 months in 1979; ore milled 1980-1988

Mined and stockpiled 546,437t of ore grading 1.84% U3O8 and 157,000t of below

grade ore of 0.05% U3O8 (Australia’s highest grade deposit)

Mill operated 1980–1988 and produced 11,084t (24.8 M lbs) U3O8

Acquired by Uranium Equities - April 2008

Nabarlek & Arnhem LandNabarlek & Arnhem Landl i il i iExploration HistoryExploration History

1968 ARUF exploration begins

1969-72 DISCOVERY Ranger, Koongarra,

Source: The Ux Consulting Company, LLC http://www.uxc.com/

140.00

160.00

Ranger, Koongarra, Jabiluka, Nabarlek1988-1989 QML: Radiometrics, Trenching, Drilling etc –12 prospects First Tempest

100.00

120.00

$U3O

8

Discovered First Tempest Survey 2000,

Minor Drilling

Geophysics, Drilling &Sampling

1973-1988: No Exploration Land Rights

60.00

80.00

Con

stan

t 200

8 $

&Sampling

UEQ:CAMECO JV

Land Rights Issues

20.00

40.00

C

RANGER 3 DEEPS DISCOVERY

1964

1973

1981

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

0.00

Unconformity ModelUnconformity ModelUnconformity ModelUnconformity ModelUnconformity ModelUnconformity ModelUnconformity ModelUnconformity Model

EXPLORATION TECHNIQUESAi b EM t hiti d t ( f l i C d t / t i A t li )

(Modified after CUNEY et al., 2000)

Airborne EM to map graphitic conductors (successful in Canada, not so/yet in Australia)Absence of highly graphitic host rocks at NabarlekConductive overburden ? distorts EM signals Need for alternative approaches to exploration .

Nabarlek Area Nabarlek Area –– Geology, Structure Geology, Structure Nabarlek Area Nabarlek Area –– Geology, Structure Geology, Structure and Rock Unit relationshipsand Rock Unit relationshipsand Rock Unit relationshipsand Rock Unit relationships

Nabarlek Area Nabarlek Area –– SectionsSectionsNabarlek Area Nabarlek Area –– SectionsSections

Long Section

Nabarlek Area Nabarlek Area SectionsSectionsNabarlek Area Nabarlek Area SectionsSections

Long Section

from SMLB Prospect (uranium (mineralisation in metamorphics beneath Unconformity

to

N147 along the Gabo Shear in doleriteShear in dolerite

Cross Section through Nabarlek and the Nabarlek and the dolerite

Nabarlek ML Nabarlek ML -- Long SectionLong SectionNabarlek ML Nabarlek ML Long SectionLong Section

Nabarlek Nabarlek -- Cross SectionCross SectionNabarlek Nabarlek Cross SectionCross Section

N147 ProspectN147 ProspectN147 ProspectN147 ProspectN147 ProspectN147 ProspectN147 ProspectN147 Prospect

A

Dolerite mineralised just outside the ML boundary at N147(200m x 50m mineralised zone and open in both directions)Mi li d i t tMineralised intercepts36.2m @ 0.172% eU3O8 from 108.2m14.5m @ 0.224% eU3O8 from 116.9m23.4m @ 0.138% eU3O8 from 117.1m23.4m @ 0.138% eU3O8 from 117.1m

Ref: Uranium Equities ASX Release 27th November 2008

Nabarlek Area Nabarlek Area –– geochemical geochemical l i lil i liexploration anomaliesexploration anomalies

Grid RC & AC Grid RC & AC geochemical drillingin areas defined in blue - along key t tstructures

Bedrock & regolith sampling for U using sampling for U using portable XRF

Mapped as anomalies pp>100 GT (ppm U3O8 x m)

Ref: Uranium Equities Ref: Uranium Equities ASX Release 27th

November 2008

Geochemical exploration resultsGeochemical exploration resultsil S f b l kil S f b l kDetail SE of NabarlekDetail SE of Nabarlek

Strong correlation Strong correlation with N147

Outstanding Outstanding geochemical results at shallow depths – Coopers p pProspect

Ref: Uranium Equities ASX Release 25th

September 2008

Nabarlek ML Nabarlek ML i b di i ii b di i iairborne radiometric imageairborne radiometric image

R d U G ThRed = U; Green = ThBlue = K

Strong radiometric evidence of ponds, pit, plant areas, camp and roads

Also note anomalies tested by earlier QML grid drilling

Effectiveness of historical Effectiveness of historical Effectiveness of historical Effectiveness of historical geochemical samplinggeochemical samplinggeochemical samplinggeochemical sampling

Bottom of hole l th d

Systematic sampling using Niton

Cover

U dispersion halo

sample method using Niton

U

U dispersion halo

B t

Many shallow drillholes (<30m) failed to reach cover/basement interface or basement sequences.

Basement

Geochemical sampling of most drillholes was restricted to bottom of hole orcover/basement interface only.

Unlikely that drill sampling would have identified the broad geochemical halos inthe egolith cha acte istic of mine alised ones else he ethe regolith characteristic of mineralised zones elsewhere.

Nabarlek ML Nabarlek ML h f hi i l d illih f hi i l d illiDepth of historical drillingDepth of historical drilling

I i i Image summarising depth of drillingblue – shallow drilling

dgreen – deeper

901 drill holes – RC, AC ddh AC, ddh core, perc

643 drillholes (71.3%) < 30m deep< 30m deep

90 holes > 100m

8 holes > 200m

Highlights Highlights -- 2008 Exploration 2008 Exploration ProgrammeProgramme

Ore grades and wide-spread anomalous uranium in 2008 drilling programmes confirm the presence of large mineral systems

Nabarlek ML: Limited drilling was completed late in the field season Nabarlek ML: Limited drilling was completed late in the field season. Geochemical exploration drilling confined mainly to ponds, pit and plant areas

Best result achieved on the Nabarlek Shear 9.5m @ 0.069% eU3O8 from 68 5 i l di 1 3 @ 0 254% U O f 73 8 68.5m including 1.3m @ 0.254% eU3O8 from 73.8 m.

N147 Prospect: High grade uranium mineralisation extended 55 metres to the west with best intersection 36.2m @ 0.172% eU3O8 from 108.2m.3 8

SMLB Prospect: Best intersection 15.4m @ 0.045% eU3O8 from 94.1m.

Bedrock drilling along major structures identified uranium anomalies at Bedrock drilling along major structures identified uranium anomalies at the North Tip, Delver, N84, Cooper and Embayment prospects.

Ref: Uranium Equities ASX Release 27th November 2008Ref: Uranium Equities ASX Release 27 November 2008

Nabarlek ML Nabarlek ML E l ti ti / tE l ti ti / tExploration perspectives/conceptsExploration perspectives/concepts

Four styles of mineralisation

Unconformity-related obscured by alluvium, soil or sandstone cover. e.g. SMLB ProspectProspect

Dolerite-hosted mineralisation. e.g. N147 styley

Basement-hosted mineralisation in structures displaced by emplacement of the doleritethe dolerite.

Structure-controlled mineralisation in basement beneath the dolerite Displacement Intrusion of the 220 250m thick beneath the dolerite (Nabarlek Deeps).

Displacement - Intrusion of the 220–250m thick Dolerite Sill may have physically offset the Nabarlek Shear Zone and mineralisation.Any displacement is currently unrecognised and yet to be testedyet to be tested

Nabarlek ExplorationNabarlek Exploration‘N b l k D ’ t‘N b l k D ’ tNabarlek ExplorationNabarlek Exploration‘N b l k D ’ t‘N b l k D ’ t‘Nabarlek Deeps’ concept‘Nabarlek Deeps’ concept‘Nabarlek Deeps’ concept‘Nabarlek Deeps’ concept

RangerRanger 3 DeepsRecent recognition of strong structural control independent of the independent of the unconformity.

30,000-40,000t of , ,contained U3O8 estimated extension of Ranger 3 ore -250-500m from surface#.

Concept not tested in the Nabarlek ML

#Ref: ERA Limited ASX release 17th November 2008Nabarlek

SummarySummarySummarySummary

ARUF - focus of exploration since the late 1960s; Exploration largely driven by geophysical surveys with airborne radiometrics the key initial discovery tool geophysical surveys with airborne radiometrics the key initial discovery tool

Nabarlek - limited exploration since initial discovery - unsuccessful to date in locating substantial additional mineralisation

Yet – the area has: Extensive structural network and multiple fluid pathwaysWidespread uranium anomalismHost rocksUraniferous granite at depth

Systematic geochemical drilling in the surrounding area has identified a significant number of regolith/bedrock geochemical anomalies associated with structures – in addition to presence of known prospects/deposits (e.g. N147)p p p / p ( g )

Extension of this systematic geochemical exploration to the ML is likely to generate additional drilling targets. Conceptual structural targets have also been identified (“Nabarlek Deeps’)been identified ( Nabarlek Deeps )

Nabarlek is a severely under-explored, high-grade, brownfields exploration project.(Recent Australian uranium discoveries – ‘brownfields’ - 4 Mile 2005; Ranger 3 Deeps 2008)(Recent Australian uranium discoveries brownfields - 4 Mile 2005; Ranger 3 Deeps 2008)

“Nabarlek - New Exploration R lt d P ti ”“Nabarlek - New Exploration R lt d P ti ”Results and Perspectives”Results and Perspectives”

Thank youThank you