Project Overview

LAKE MASON URANIUM PROJECT, WESTERN AUSTRALIA

Prime currently holds 100% of exploration licence E 57/ 785 located central to the Lake Mason palaeo-drainage system.

Previous exploration at Lake Mason has focused on the defined radiometric anomalies within the eastern extremity and northern shore of the main Lake Mason channel.

The identified mineralisation at Lake Mason is located within the lake and on its margins. This mineralisation is of the 'playa lake-style' found at Mega Uranium's Lake Maitland project. There is potential for additional mineralisation in a number of locations adjacent to Lake Mason, including the drainages and deltas that feed into the lake.

PROJECT GENERATION

Prime is presently carrying out an active programme of project generation in both Australia and overseas to identify projects that will further enhance the Company's exploration portfolio.

The Directors look forward to updating shareholders as the Company's exploration and project generation programme continues.