MARENICA ENERGY LIMITED

Marenica is an ASX listed company with two broad areas of focus, uranium exploration and application of its patented beneficiation process called U-pgrade™. Marenica's strategy for developing the business is focussed on: - Exploring tenements in Namibia - Acquiring projects - To which the patented uranium beneficiation process, U-pgrade™, can add value Marenica has a large land position in the globally-recognised Erongo uranium province in Namibia, a country with an established and long running uranium mining industry. Drilling is in progress at Koppies in the Namib area, with excellent results achieved to date. Marenica is currently in the process of acquiring Optimal Mining's Australian uranium assets, 48 Mlb at 859 ppm U3O8. The Mineral Resources are significant in their own right, but could be dramatically enhanced when coupled with Marenica’s U-pgrade™ beneficiation process. Marenica believes it can revolutionise surficial uranium processing by reducing processing capital and operating costs by approximately 50% through application of U-pgrade™.