Argonaut Resources NL : - Uranium Exploration Assets, Cummins, SA

Argonaut Resources NL (ASX: ARE) (Argonaut or the Company) is pleased to announce details of the Cummins uranium exploration project in South Australia.

The Company has acquired a substantial package of prospective uranium exploration licences in South Australia and the Northern Territory. Argonaut holds these assets via a 100% held, unlisted public company, Orpheus Minerals Ltd (Orpheus). Argonaut plans to list Orpheus on the Australian Securities Exchange later this year.

South Australian Projects

South Australia hosts four out of six approved Australian uranium mines: Olympic Dam, Beverley, Four Mile and Honeymoon. Three of these mines are nearby to the Frome project. Uranium production at these existing, nearby mines is by in-situ recovery

Cummins Project, SA

The Cummins project area is located on the southern Eyre Peninsula, South Australia. The area features Tertiary age paleochannels that have been demonstrated by historic drilling to contain concentrations of uranium. The paleochannels have upper and lower units that are similarly prospective. The upper unit is very close to surface and presents as a walk-up drilling target in urgent need of further drilling. Uranium contained in these subsurface channels is interpreted to have been sourced from two adjacent uraniumbearing granites

About Argonaut

Argonaut Resources NL is an Australian Securities Exchange listed exploration and development company focused on the Murdie copper project in South Australia and copper development at the Nyungu copper-cobalt deposit at the Lumwana West project in North-western Zambia.

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