News: Deals: Reports

Redfeather Holdings Pty Ltd- Bunnawarra Exploration Tenement & New Age Exploration Ltd	Update Date: 05/14/08
Date Announced: 05/14/08
Value (million $USD): 0.2 million U.S. Dollar 0.2 million Australian Dollar

Status: Pending

TRANSACTION DETAILS
Date Announced	05/14/08
Date Originally Announced	05/14/08
Format	Acq. Part. Int.	Acquisition techniques	Not Applicable
Attitude	Friendly	Agency	n/a
Value	0.2 million U.S. Dollar 0.2 million Australian Dollar	Advisor Fees	n/a

SYNOPSIS

AUSTRALIA - New Age Exploration Ltd (NA) was granted an option to acquire a 30% stake in the Bunnawarra Exploration Tenement (BE) of Redfeather Holdings Pty Ltd, a uranium mining company, for 0.2 mil Australian dollars ($0.187 mil US). The consideration was to consist of A$0.15 mil ($0.14 mil) and the issuance of A$0.05 mil ($0.047 mil) worth of new NA ordinary shares. Concurrently, NA was granted options to raise its interest to 55% from 30%, and further raise its interest to 80% from 55%, by acquiring 25% stakes each, in BE.

TARGET
Name	Redfeather Holdings Pty Ltd- Bunnawarra Exploration Tenement
Industries	n/a
City	Western Australia
State	n/a
Nation	Australia
Incorporated in	n/a
Public Status	Subsidiary
Business Description	Bunnawarra Exploration Tenement is an iron ore mining project in Western Australia, owned by Redfeather Holdings Pty Ltd.
Advisors	NULL
Target Sales	n/a

ACQUIROR
Name	New Age Exploration Ltd (Australia : NAE)
Industries	Gold ores
City	Melbourne, Victoria
State	n/a
Nation	Australia
Incorporated in	n/a
Public Status	Public
Business Description	New Age Exploration Ltd is a uranium mining company, headquartered in Melbourne, Victoria. The company is also into gold and other minerals mining.
Advisors	NULL
Acquiror Sales	n/a

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