Alliance Resources Limited

Alliance Resources Limited is a uranium, copper and gold explorer. Alliance has a 25% free carried interest in the Arkaroola Project in South Australia, where its joint venture partner, Quasar Resources Pty Ltd, discovered uranium at the Four Mile prospect in 2005. Quasar is an affiliate of Heathgate Resources Pty Ltd, which owns and operates the Beverley Uranium Mine, located immediately west of the Arkaroola Project. In May 2007, Alliance and Quasar announced an initial Inferred Mineral Resource for the Four Mile West Uranium deposit of 3.9 million tonnes at 0.37% U3O8 containing 15,000 tonnes (32 million lb) of U3O8. Alliance is also developing the Maldon Gold Project in Victoria and exploring for copper-gold at the Warrina Project in South Australia.