Uranium Resource Estimate 43-101

Agapito Associates, Inc. (AAI) was engaged by Concentric Energy Corporation to complete the original independent NI 43-101 Technical Report and resource estimate for the Anderson Mine uranium and vanadium property located near the town of Wickenburg, Yavapai County, in west-central Arizona, USA. Mineralization occurs in the sequence of Miocene-age lacustrine (lake-bed) sediments which unconformably overlie andesitic volcanics. The uranium-vanadium resource was defined by 1,393 vertical exploration drill holes, including 1,320 downhole gamma surveys and a total of 5,596 chemical assays, completed by Minerals Exploration Company of Union 76 Minerals, a subsidiary of Unocal Corporation, and Urangesellschaft U.S.A., Inc. in the 1970s.

AAI coded a Visual Basic program based on the classic U.S. Atomic Energy Commission GAMLOG algorithm to convert natural gamma radiation counts taken from historical logs to equivalent radiometric grades of uranium oxide (U3O8), with adjustments for hole characteristics and disequilibrium. Composite grades and thickness were determined for multiple radiometric beds in each drill hole and applied to a computer block model to estimate the grade and quantity of mineralization. Historical measurements were validated by confirmation drilling overseen by AAI’s NI 43-101 Qualified Persons in 2006.

The 43-101 Technical Report was submitted for the first time to the Toronto Stock Exchange in 2010 following Global Uranium Corporation’s acquisition of the project.

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