Chumbwe - Oryx U3O8 (Axmin) - Zambian Copperbelt (sitios de interés)

Descripción del sitio

Davidite discovered in abundance at surface, assaying +5% U308

1600m of trenching completed, mineralisation to 1500ppm U308 over widths to 50m

Preliminary metallurgy shows ~70% recovery in acid leach testwork

--------------------------------------------------------------

OWNERSHIP*

Uranium Rights Joint Venture (Chumbwe, Mpande, Mulungushi and Rufunsa)

Southern African Resources Ltd and Oryx (Bermuda) Ltd

49% Zambezi Resources Ltd

51% Lithic Metals and Energy Ltd

(51% after US$5M, upto 75% on DFS, 100% on sole funding)

*part of Zambezi Project (PL214):
Kangaluwi-Chisawa, Chakwenga Region, Other Chakwenga Region and Uranium JV Oryx

-------------------------------------------------------------

MERGER & AQUISITIONS

March 18, 2010 - LOI with AXMIN Inc

Acquisition by Axmin, wherby AfNat shareholders will hold 39.6% of Axmin

Axmin Inc (TSX-V:AXM) - as from June 14, 2010

(ex AfNat Resources Ltd - December 21, 2009)

(ex Lithic Metals and Energy Ltd - September 24, 2007)

(ex Zambezi Nickel Ltd - October 31, 2005)

Zambezi Resources Ltd (ASX:ZRL)

Position calculated from:

UTM Zone 35S (WGS84)

702500mE, 8278000mN

-15° 34' 3.28", +28° 53' 18.13"