Lotus Resources Limited announced the acquisition of the 6Mlb U3O8 Livingstonia Uranium Project (Livingstonia) located 90km from the Company's Kayelekera Uranium Project in Malawi. This acquisition increases the Company's mineral resource base as well as having the potential to become a future satellite operation for the Company. The Livingstonia Uranium Project is located in Northern Malawi, approximately 90km southeast of the Company's Kayelekera Uranium Mine. The Livingstonia Project is hosted in the prospective Karoo-equivalent sedimentary sequence which is also host to the main deposit associated with Lotus' Kayelekera Uranium Mine. Livingstonia hosts a historical Inferred Mineral Resource of 8.3Mt at 325ppm eU3O8 for 6.0Mlb of contained U3O8 at a cut-off grade of 150 ppm eU3O8. The Mineral Resource Estimate (MRE) was prepared by independent consultants CSA Global in 2011 and reported in accordance with the JORC Code (2004) to the ASX by Resource Star Limited, a former uranium and speciality metals exploration company. Exploration potential exists in a number of areas around the existing Livingstonia Resource, including: East of the northern end of the Mineral Resource outline, where drilling defined excellent broad zones of mineralisation that have not been closed off; Along strike from the interpreted NW trending zone of the broad, higher grade mineralization defined in the 2010 drilling within the Mineral Resource outline; Within the Mineral Resource outline where interpretation suggests that earlier drilling did not drill through the full thickness of the host sequence; and In the lower grade zone to the south, where sparse drilling indicates potential for defining offshoots of higher grade mineralisation within the system and within the areas defined as resource potential by CSA Global. Livingstonia North, which is already held by the Company, is situated directly along-trend of the Livingstonia uranium resource, with drilling at the northern end of the Livingstonia deposit supporting a continuation of mineralisation into Livingstonia North. The airborne radiometric anomaly at Livingstonia is coincident with the resource and this anomaly continues into Livingstonia North. A parallel radiometric anomaly also exists in Livingstonia North that may indicate additional mineralisation. Limited drilling has been undertaken at Livingstonia North, but the region is considered highly prospective for additional mineralisation due to both the continuation of the Livingstonia radiometric anomaly and the parallel radiometric anomaly. The next stages for the Company will include ground-based exploration and sampling along the Livingstonia North trend as well as an RC drill program to test the extensions of the Livingstonia mineral resource and investigate the potential higher grade zones within the resource boundary. The Company's current intention is to complete the work required to update the historical Livingstonia MRE to JORC 2012. The Company entered into a sale and purchase agreement with a local Malawian entity to acquire the Livingstonia Project for USD 25,000.