EMU NL has identified and applied for what it considers to be highly prospective, REE associated, geologically significant tenement areas, over Booanya Suite granites near Esperance and Balladonia, WA. The applications include the extension of the granted Condingup Project exploration licence. In addition, EMU has applied for 3 separate tenement areas, Balladonia, Booanya and Condingup East.

When combined with the Merredin REE project, EMU now has granted and applied tenements over 1,100 Km2 of highly prospective exploration licences within WA, which adds significant dimension to EMU's REE exploration potential. Condingup Project Area In reviewing information from the recent exploration successes by EMU's near neighbour, OD6, at its Splinter Rock Project, EMU has identified open exploration ground overlying GSWA identified Booanya Suite granites east of Esperance, both adjoining, and to the east of, its existing Condingup Project tenements. The OD6 announcement highlights the primary target for mineralisation lies directly over the Booanya granites and on the margins of the adjoining Esperance and Recherche Supersuite granites.

OD6 reported thick, "10m to 30m and up to 80m" of clay hosted REE's with grades of "up to 6,729ppm TREO". That announcement, coupled with the market's enthusiasm for REE's, encouraged EMU to investigate acquisitive opportunities with genuine potential to yield REE results and accrete value to shareholders. Whilst a drilling programme is yet to be finalised, EMU's hydrological investigation into water bore depths in the Condingup area and within its current tenement package indicate bore depths, with thick clays to 60m depth.

EMU considers the potential for magnet REEs within its tenements to be very high given the results reported by OD6. Balladonia Tenements EMU has applied for a package of tenements at Balladonia which also overly Booanya Suite granites. In EMU's assessment of publicly available aeromagnetic and GSWA soil sample data, it is apparent that the Booanya granite features in this tenement package are beneath a thin veneer of Madura Formation, sand and limestone.

An exploration licence area of 180 Km2 has been applied for. The prospectivity for REE in the Balladonia tenements is further vindicated by several GSWA samples reporting significantly anomalous TREO to the west, within the same interpreted Booanya Suite granite. A further package of tenements, comprising 64Km2, east of Booanya Station, has been applied for.

Aeromagnetics indicate a discrete zone of Booanya granite, again underlying thin cover. The Balladonia, Booanya and Condingup East tenement blocks compliment the growing portfolio of prospective REE projects held by EMU. When aggregated with the Condingup Project, the 850km2 Georgetown Project and the 88Km2 Merredin project, the applications represent a significant land holding with real REE mineralisation potential.