In April 2005 Range entered into a Heads of Agreement to acquire an interest in the Corachapi Uranium deposit located in Peru. The Corachapi uranium prospect is located about 150km east-south-east of the city of Cusco in the Puno region of southeastern Peru. The prospect is situated on the top of a flat lying mesa at an altitude of 4700m within a major sub-aerial volcanic caldera of Tertiary age.

Range has full confidence in the ability of Contact to exploit the Uranium resources at Corachapi and looks forward to sharing in the success of the project.

Due to the size of the Company’s commitment to the Puntland project the decision was made during 2006 to divest its interest in the Corachapi Uranium Project to Contact Resources Limited (“Contact”).  Range has still however, retained an exposure in the project through equity in Contact.

Contact has commenced field work which has yielded positive results to date.  An RC drilling program is planned to commence expanding the resource with a view to move towards production.

For further information on the Uranium project please visit www.contacturanium.com.au