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Aldershot Resources research and analysis

Contributed by eResearch

By Bob Weir

Aldershot Resources Ltd. has published results from the second round of drilling in the Company’s Fall 2011 program at its Sage Plain exploration project in the Uravan Mineral Belt of the Colorado Plateau in Utah. The drilling, under Aldershot’s 100%-owned subsidiary Royal USA Inc. and its joint-venture partner Colorado Plateau Partners LLC, further confirmed the validity of historical records and extended the resources. The drilling (10 holes for a total of 1,971 metres) encompassed the historic Calliham mine, which was in operation until the late 1980s (shut down as a result of depressed uranium pricing).

The highest grades from this latest round of drilling were as follows:

Hole CH-11-005: 0.3 metres (1 foot) @ 0.456% eU3O8, and 0.3 metres (1 foot) @ 0.744% eU3O8.

Ongoing Drilling

Sage Plain drilling is continuing through Royal USA Inc. and its joint venture partner Colora o Plateau Partners LLC. The latter comprises Royal USA (45%); Lynx Royal JV LLC (5%), and Energy Fuels Resources Corp. (50%).

Drilling is focusing on the Slick Rock district, near Monticello (Utah), just west of the Utah/Colorado border. The targets overlay the historic Calliham mine area, just south of the historic Silverbell and Wilson mines, and northwest of the Deremo mine. All of these are past-producing uranium/vanadium mines. The Slick Rock district is about 55 miles from the White Mesa mill (Denison) and 70 miles from Energy Fuels’ proposed Piñon Ridge uranium/vanadium mill.

Energy Fuels Resources Corp. will operate any mines developed as a result of Colorado Plateau Partners’ exploration, for the purpose of producing feed for Energy Fuels’ proposed Piñon Ridge mill.

Permitting

Permitting of the mine, through the State of Utah’s Department of Oil, Gas and Mining, is well underway. The plan is for the Calliham/Sage Plain resources to be a fully permitted and production-ready mining project over the next year or two.

THE COMPANY

Aldershot Resources Ltd. is a Canadian-based junior resource exploration company, focused on uranium projects in the USA, Australia, and Zambia.

The Company achieved a breakthrough in its development when it acquired four USA-based uranium exploration properties in March 2011.

Two of the USA-based uranium projects, Lynx-Royal JV and Colorado Plateau JV, are located in the historically productive Uravan Mineral Belt of the Colorado Plateau.

eResearch Analysts:
Yuri Belinsky, B.A., MA
Bob Weir, B.Sc., B. Comm, CFA