AGMShareholderPresentation

November 2008

Terry Ward: ChairmanJohn Cottle: Managing Director

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SLIDE 2

The information in this presentation is published to inform you about Uranex NL (“the Company or Uranex or UNX”) and its activities.All statements in this presentation, other than statements of historical facts, that address future production, reserve or resource potential, exploration drilling, exploitation activities and events or developments that the ‘Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing and general economic, market or business conditions.To the extent permitted by law, the Company accepts no responsibility or liability for any losses or damages of any kind arising out of the use of any information contained in this presentation. Recipients should make their own enquiries in relation to any investment decisions.The potential quantity and grade of potential or target mineralisation outlined in the presentation are conceptual in nature and there has been insufficient exploration to define a mineral resource and there is no certainty nor assurance that further exploration will result in the determination of a mineral resource.

Information in this presentation relating to exploration results is based on data reviewed and compiled by Dr John Cottle who is a Fellow and Chartered Professional – Geology, of the Australasian Institute of Mining and Metallurgy, and who is a director of the Company. Dr Cottle has sufficient relevant experience to qualify as a Competent Person under the 2004 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Cottle consents to the inclusion of the data in the form and context in which it appears in this presentation.

DISCLAIMER

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SLIDE 3

BOARD

• Terry Ward (Chairman)

– Uranium Mining, Production, Corporate, Fund Management

• Andrew Daley (Director)

– Uranium Mining, Engineering, and Resource Project Financing

• Richard Udovenya (Director)

– Uranium Resources, Corporate, and Commercial Law

• Bianca Manzi (Director)

– Uranium Exploration Management

• Dr John Cottle (Managing Director)

– Uranium Resources/Reserves Estimation, and Exploration

Management

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Significant Achievements - 2007

• JORC compliant Resource Estimates for

– Manyoni Project, Bahi Region, Tanzania

• 15 Million pounds U3O8 at 100ppm U3O8 cut-off

– Thatcher Soak Project, Western Australia

• 14 Million pounds U3O8 at 100ppm U3O8 cut-off

• Commencement of Manyoni project initial pre-feasibility,

interim report anticipated by December 2008

• Commencement of Scoping Study for Thatcher Soak

• Purchase of Sonic drill rig and downhole probe to ease

dependence on Exploration Services For

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SLIDE 5

Financials

• Shares on Issue (ASX code - UNX) 83.4M

• Market Capitalisation (Nov 10th ‘08, $0.175) $14.6M

• Cash (Nov 10th 2008) $9M

• Debt Nil

• Major Shareholder – IMX Resources NL 39.5%

• Resources 30Mlbs

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SLIDE 6

PROJECT LOCATIONS

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SLIDE 7

Tanzanian Tenements

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Bahi Region, Tanzania

• Manyoni Project:

– Main project named Manyoni Project

– One plant – multiple sources strategy

– Pre-feasibility study interim report due by Dec 2008

– Feasibility study planning underway to commence 2009

– Production start up target for late 2010-2011

• Exploration Highlights:

– Airborne Radiometric Survey highlights multiple playa lakes

– Mineralisation outlined in 5 adjacent playa lake systems

– Spectacular intercepts define High Grade zone in Manyoni C1For

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Bahi Project Playa Lake UraniumUranex Discovery

• Pre-Feasibility commenced

• Shallow deposits (~4m)

• Low-cost unconsolidated mining

• Simple unbound mineral processing

• High grade starter zone

• Early payback

• Serviced with Infrastructure

– Road

– Railway

– Town

– Grid power

– Airstrip

• Resource ~15 M lb U3O8, ~6,900t

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SLIDE 10

3D Manyoni aero-radiometric ternary image. Yellow and red hues ‘K’ denotes outcroppinggranite and gneiss, green ‘Th’ denotes residual surfaces and blue ‘U’ denotes uranium

anomalies.

Bahi Region Multiple Playa Lake System (3D)

‘One Plant – Multiple Sources’

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SLIDE 11

Bahi C1Schrockingerite Mineralisation

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Exploration – Tanzania

• Mkuju/Songea

– 2008 Drilling commenced, ‘roll-front’ definition continuing

– Airborne Radiometric Survey complete

– Continued High Grade intercepts from reconnaissance

exploration and sampling

– Multi-stacked, mineralised, sedimentary sequences

– 15,000m drilling program now underway

• Pipeline Projects

– Exploration continuing at Songea and additional targets

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MKUJU - OUTSTANDING PIPELINE EXPLORATION

PROJECT

• 70 vertical auger holes & 60 shallow pits have been completed• Recent assays include:

• 1.0m @ 923ppm U3O8 and 1.4m @ 1,824ppm U3O8. • Previous results included:

• 0.5m @ 5,338 ppm U3O8 and 0.25m @ 9,803 ppm U3O8.

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SLIDE 14

MKUJU – LIKUYU NORTH, STACKED FLUVIAL SEDIMENTS

Oxidised coarse grain channel sandstone

Uranium anomalous reduced silty sandstone

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MKUJU – LIKUYU NORTH, Recent (October 2008) Field Scintillometer Reading (cps)

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Thatcher Soak

• Scoping study commenced• Initial Resource upgrade underway• Pre-Feasibility study 2009• Shallow deposit (~15m) • Low-cost mining• Straight forward unbound mineral

processing• Historic mineralisation extended• Discrete zones discovered• Resource 14 M lb U3O8 ~6,300t

Calcrete Uranium Province

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Thatcher Soak, Western Australia

• Thatcher Soak:

– Coalition government policy to lift the ban on uranium mining

– Scoping Study underway

– Initial Resource upgrade drilling completed

– Defined resource – pre-feasibility study planned for 2009

– 2,985m of aircore drilling completed

– Visible Carnotite within upper and lower mineralised horizons

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SLIDE 18

THATCHER SOAK CONTOUR PLAN

Plan of contoured down hole

peak equivalent U3O8 in ppm as measured by a calibrated total

count radiometric probe

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SLIDE 19

Exploration – Australia

• Bremer Basin, Western Australia

– Airborne HEM survey defines possible ‘roll-front’ uranium

palaeochannels

• Bynoe and Alligator Rivers, Northern Territory

– Basement refusal drilling yields encouraging foci for

hardrock targets

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SLIDE 20

Active Road Ahead2008/2009 Proposed Program

Bremer Basin RC-drilling

Drilling /

Scoping

Study

DrillingAssaying

Interpretation

InterimPre-Feasibility

due

4th Qtr 08

Tanz/Aust Regional

Exploration

Sampling /

Scoping

StudyAnalysis

FurtherResource Estimation

Sonic drillingAssaying

Interpretation

1st Qtr 09

Tanz/Aust Regional

Exploration

Tanz/Aust Regional

Exploration

Pipeline Projects

AnalysisInterpretationAssaying /

Mkuju

Pre-Feasibility

Study

Pre-Feasibility

StudyThatcher

Soak

RegionalExploration

RegionalExploration

Bahi Region

FeasibilityResource Upgrade

& ExtensionPre-Feasibility

Manyoni

3rd Qtr 092nd Qtr 09

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www.uranex.com.au

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