ABN Newswire

Toro Energy Limited (ASX:TOE) Commences 2013 Infill Drilling Program at Wiluna

newsroom@abnnewswire.net — Fri, 3 May 2013 10:01:28 GMT

Toro Energy Limited (Toro) (ASX:TOE) has commenced its 2013 extensive infill drilling program at the Company's wholly owned Wiluna Uranium Project, based near Wiluna in Western Australia. The schedule is focused on three of the five deposits within the Wiluna Project regional resource: Lake Way, Millipede and Dawson Hinkler. Both sonic core drilling and air core drilling techniques will be utilised to drill 370 holes over a 7,000 metre drilling program.

The campaign is designed to further advance the Wiluna Project towards mine development decision beginning at the Centipede and Lake Way deposits where mining has already received Western Australian and Federal Government environmental approvals. This is the largest single drilling program Toro Energy has undertaken on the Wiluna Uranium Project.

"With the recent completion of government environmental approvals for mining at Centipede and Lake Way, Toro is continuing to advance the project and position it a step closer to being Western Australia's first uranium mine." Managing Director, Vanessa Guthrie said today.

To view diagrams, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TOE-733690.pdf

Toro Energy Limited
T: +61-8-8132-5600
F: +61-8-8362-6655
WWW: www.toroenergy.com.au

Toro Energy Limited (ASX:TOE) Quarterly Activities/Cashflow Report

newsroom@abnnewswire.net — Tue, 30 Apr 2013 13:50:39 GMT

Toro Energy Limited (ASX:TOE) anounces the quarterly activities report to March 2013 with the following highlights:

CORPORATE
- Immediately post quarter close (on 2 April) Toro received the approval of the Federal Environment Minister for the Wiluna Project, completing all government assessment and approval processes.
- Encouraging engagement from potential financing and offtake partners has been received subsequent to the Federal Government approval.
- Dr Vanessa Guthrie took over as MD of Toro Energy on 9 February. Previous MD Mr Greg Hall remains on the Board.
- In March, Toro drew down the first tranche of A$8 million from the A$12 million convertible debt finance facility from Macquarie Bank Limited.
- Cash at end of the quarter was $10.1 million.

GLOBAL URANIUM MARKET

- The spot price for uranium at the end of the March quarter was US$42.00/lb U3O8 and at the time of writing US$40.63 on small volumes with the long term price remaining steady at between US$56 to US$59/lb.
- Japanese government announced the nuclear safety regulations will be introduced on July 18 and has indicated that reactor re-starts may occur during the second half of 2013 as a result.

WILUNA PROJECT DEVELOPMENT

- Federal Government approval was granted on 2 April from Minister Burke, subject to 37 strict environmental conditions. Toro is confident it can comply with all conditions at a State and Federal level.
- With the Government approvals now complete the Company is focussing on activities that enhance project value. This includes completion of the DFS and improvements in resource confidence.
- Short listing of engineering consultants to complete the DFS has been finalised and drilling at Lake Way has commenced and will continue at Dawson Hinkler and Millipede over the next four months.

EXPLORATION

- Further analysis of images and data from the airborne EM survey over Wiso and Reynolds Range support large palaeochannel systems similar to Lake Mackay/Theseus.
- Northern Minerals airborne radiometrics defined various anomalies for follow-up on Browns Range JV project.

To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TOE-732866.pdf

Toro Energy Limited
T: +61-8-8132-5600
F: +61-8-8362-6655
WWW: www.toroenergy.com.au

Toro Energy Limited (ASX:TOE) Federal Govt Environmental Approval for Wiluna Project

newsroom@abnnewswire.net — Tue, 2 Apr 2013 15:08:53 GMT

WA-focused uranium developer, Toro Energy Limited (ASX:TOE), has welcomed today's Federal Government decision granting environmental approval for the Company's wholly owned and advanced Wiluna uranium project in Western Australia.

The approvals decision was announced by the Federal Minister for Sustainability, Environment, Water, Population and Communities, the Hon. Tony Burke. It was the last major environment-based regulatory approval required to clear the way for the proposed A$269 million Wiluna uranium mine to become Australia's sixth uranium producer and the first in Western Australia. The project is now subject to normal financing and final project investment determinations by the Toro Board.

The approval follows a similar Western Australian Government environmental approval for Wiluna given in October 2012 and completes the WA and Federal Government environmental assessment processes that have lasted almost three and a half years.

"Wiluna is the first new Australian uranium mine since mid 2009 to receive Federal and State government approval," Toro's Managing Director, Dr Vanessa Guthrie, said.

"Completion of the environmental approvals delivers Toro the regulatory certainty needed to fully underpin our negotiating capacity and to now advance commercial financing arrangements and product off-take agreements with potential partners," Dr Guthrie said.

"It also provides a clear pathway to complete detailed engineering design, infrastructure and cost estimates for Wiluna," she said.

"This work has been on hold since the Federal Minister initially deferred his decision on the project in November last year and then initiated a second deferral in December.

"Subject to successful finalisation of financing and marketing arrangements and our design and cost work, Toro anticipates first production from the Wiluna mine by the end of 2015."

Dr Guthrie reconfirmed Toro's ongoing engagement with potential project finance partners in a negotiating environment she described as "very encouraging".

"Wiluna is one of the few projects in the world capable of bringing new uranium production to the market in the medium term, when a shortfall is predicted from 2015 onwards," Dr Guthrie said.

"The mine comprises two deposits (Lake Way and Centipede) processing 1.3 million tonnes per annum to produce approximately 780 tonnes of uranium oxide concentrate based on up to 14 years of mine life.

"The rigorous government assessment of the mine proposal at both State and Federal level has demonstrated that all impacts can be safely and sustainably managed.

"During the assessment process, the public had four opportunities for input and Toro consistently takes into account the views of the community and government agencies in the Company's continuing design work.

"We are confident the mine will deliver important benefits to the local and regional communities in particular, including training, employment and business development.

"The Company continues to negotiate a mining agreement with Traditional Owners through which Toro proposes to provide financial support for a range of Aboriginal community benefits."

Toro Energy Limited
T: +61-8-8132-5600
F: +61-8-8362-6655
WWW: www.toroenergy.com.au

Minotaur Exploration Limited (ASX:MEP) Copper-Gold Exploration Cloncurry

newsroom@abnnewswire.net — Wed, 27 Mar 2013 11:11:02 GMT

Minotaur Exploration Limited (ASX:MEP) announce that field exploration activities have recommenced on tenements within the Cloncurry district after pausing for the summer wet season.

Osborne project: In the Osborne area ~150 km south of Cloncurry, geophysical programs are currently underway across several tenements where the focus is sulfide-rich and/or hematite-rich IOCG-style mineralization. The geophysical programs include 14 line km of IP survey and two ground gravity surveys.

IP surveying at the Osprey target will test for further extensions of a >5 km long series of chargeability anomalies initially recorded by Ivanhoe Australia at and near the Kulthor Mine (IVA Quarterly Report Dec 2012) and also shown by Minotaur to extend to the southwest onto tenement EPM 18575.

The new 2013 survey steps out 1 km further south to further delineate potential extensions to the mineralization. Depth to basement at the Osprey target is ~50-75 m.

The Brolga target, 7 km south of the Osprey target, is interpreted to have similar geological, structural and geophysical characteristics to the Osborne and Kulthor Mine region. Folded magnetic strata and strong axial planar features will be targeted by this reconnaissance IP survey which is the first electrical survey to be conducted at the Brolga target. Depth to basement at the Brolga target is ~75 m.

Reconnaissance IP surveying will also be conducted at the Wedgetail target. A distinctive magnetite-bearing intrusive complex is truncated on its southern margin by a regionally significant NW-trending structure.

Airborne Falcon gravity data indicate that this faulted zone contains unexplained positive gravity anomalies, and hence will be the focus for both ground gravity and reconnaissance IP surveys. Depth to basement at the Wedgetail target is expected to be ~90-100 m.

A regional gravity survey, utilizing a station spacing of 1 x 1 km, has commenced on tenements EPM18574 and 18576 across a major fault zone separating strongly magnetic units to the southwest and magnetically quieter strata to the northeast. Proximal to this fault zone are several high-amplitude magnetic and/or gravity anomalies. Identified targets which will be covered by the gravity survey include Bustard, Ibis and Crane, though the exciting Cassowary target is unable to be incorporated at this stage as tenement EPM 19066 has not yet been granted. Depth to basement in this area is anticipated to be ~400 m as there has been no prior drilling to basement at any of these targets.

Cloncurry JOGMEC JV: Discussions are continuing with JOGMEC concerning 2013 exploration activities, targets and possible drilling on tenements within the Cloncurry JV north of Ernest Henry Mine. Drilling last year at the Costwold target (holes MN12D28 and MN12D29) intersected broad zones of low-grade Cu mineralization confirming that it represents an IOCG-style breccia pipe and alteration system. Additional 3D IP and detailed gravity surveys are proposed, including over the western positive magnetic anomaly where there appears to have been no prior drilling.

For all diagrams and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-MEP-727930.pdf

Minotaur Exploration Limited
T: +61-8-8366-6000
F: +61-8-8366-6001
E: admin@minotaurexploration.com.au
WWW: www.minotaurexploration.com.au

Toro Energy Limited (ASX:TOE) Pending Federal decision on Wiluna uranium project in WA

newsroom@abnnewswire.net — Wed, 27 Mar 2013 09:27:01 GMT

Toro Energy Limited (ASX:TOE) has been advised by the Federal Department for Sustainability, Environment, Water, Population and Communities, that it has extended the time for the Federal Minister, the Hon Tony Burke, to make a decision on the Company's wholly owned and advanced Wiluna Uranium Project in Western Australia to 5 April 2013.

'Toro understands that as the decision had been inadvertently scheduled for Easter Sunday it has now been extended to no later than Friday, 5 April 2013.' Toro's Managing Director, Dr Vanessa Guthrie, said.

'Toro looks forward to receiving the Minister's decision next week following the public assessment process which has lasted almost three and a half years.'

Toro Energy Limited
T: +61-8-8132-5600
F: +61-8-8362-6655
WWW: www.toroenergy.com.au

Minotaur Exploration Limited (ASX:MEP) Boardroom Radio Interview

newsroom@abnnewswire.net — Tue, 26 Mar 2013 10:15:56 GMT

Minotaur Exploration (ASX:MEP) is pleased to provide investors with an opportunity to listen to an audio interview with Tony Locantro of Locantro Capital on Boardroom Radio (BRR).

To listen to the information session, please visit the following website address:

http://www.brrmedia.com/event/110861

The interview will be available at this page from Tuesday 26 March 2013 10:10am AEDT.

The subject of the interview is Minotaur Exploration: "Leveraged for the recovery"

Minotaur Exploration Limited
T: +61-8-8366-6000
F: +61-8-8366-6001
E: admin@minotaurexploration.com.au
WWW: www.minotaurexploration.com.au

Toro Energy Limited (ASX:TOE) A$12m MBL Facility - Tranche 1 proceeds of A$8m received

newsroom@abnnewswire.net — Wed, 6 Mar 2013 17:36:21 GMT

Western Australian focused uranium developer, Toro Energy Limited (ASX:TOE), is pleased to announce that it has received A$8 million from the drawdown of Tranche 1 of a A$12 million convertible debt facility ("Facility") with Macquarie Bank.

A further tranche of A$4 million is available to be drawn down until 30 June 2013, subject to Federal Government environmental approval being in place for the Company's wholly owned and advanced Wiluna uranium project in Western Australia.

As part of the Tranche 1 transaction, Macquarie Bank has been issued 42,253,521 three year options in Toro at an exercise price of A$0.142 per option.

Further details regarding the terms of the Facility were outlined in the Toro ASX announcement of 31 October 2012.

Toro Energy Limited
T: +61-8-8132-5600
F: +61-8-8362-6655
WWW: www.toroenergy.com.au

Toro Energy Limited (ASX:TOE) Half Year Accounts

newsroom@abnnewswire.net — Fri, 1 Mar 2013 11:07:27 GMT

Toro Energy Limited (ASX:TOE) announce the half yearly report with key events over the period and up to the date of the report including;
- Western Australian Minister for Environment's decision to approve the Wiluna Uranium Project;
- Maiden inferred uranium resource for Theseus Deposit;
- Timeframe for Federal Environmental decisions, for the Wiluna Uranium Project, extended to 31 March 2013;
- Engineering design and costing phase of the DFS delayed until after Federal Environmental decisions made;
- Managing Director transition;
- Completion of A$12m convertible debt facility with Macquarie Bank Ltd.

To view the full report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TOE-723796.pdf

Toro Energy Limited
T: +61-8-8132-5600
F: +61-8-8362-6655
WWW: www.toroenergy.com.au

Toro Energy Limited (ASX:TOE) Secures A$12 Million Funding

newsroom@abnnewswire.net — Fri, 22 Feb 2013 09:39:39 GMT

Toro Energy Limited (ASX:TOE) is pleased to announce that full legal documentation for an A$12 million convertible debt facility ("Facility") from Macquarie Bank Limited has been finalised.

Tranche 1 of the facility, $8 million, is available to be drawn down before 31 March 2013. Tranche 2, $4 million, is available to be drawn down until 30 June 2013, subject to satisfactory completion of usual conditions for this type of facility. In particular, draw down of tranche 2 requires Federal Government environmental approval to be in place.

Further details regarding the terms of the Facility were outlined in the TOE release dated 31 October 2012.

The Facility increases Toro's available working capital to A$16.2 million (based on A$4.2 million cash as at 31 January 2013) and maintains Toro's strong funding position over the course of negotiations with potential project partners.

Toro Energy Limited
T: +61-8-8132-5600
F: +61-8-8362-6655
WWW: www.toroenergy.com.au

Toro Energy Limited (ASX:TOE) Managing Director Appointment

newsroom@abnnewswire.net — Fri, 8 Feb 2013 15:25:30 GMT

Toro Energy Limited (ASX:TOE) wishes to advise that as detailed in the Company's Quarterly Report lodged with the ASX 31 January 2013, Dr Vanessa Guthrie has been appointed as Managing Director of Toro effective 8 February 2013 as part of a planned succession. Mr Greg Hall will step down as Managing Director, but will remain on the Board as a non-executive director.

Dr Guthrie is a former Woodside Energy Vice President for Sustainable Development and has previously held the roles of Mine Manager and Sustainability Manager for Alcoa World Alumina Australia and Environment Manager for WMC Resources, Pasminco Metals EZ and RGC Limited. She has holds a Bachelor of Science (with Honours) in geology, a Doctor of Philosophy (Geology), Diploma in Natural Resources, and Graduate Diplomas in Business Management and Commercial and Resources Law. Dr Guthrie also held an Australian Institute of Nuclear Science and Engineering post-graduate scholarship and a French Government Scientific Fellowship.

The Company notes that the employment contract between the Company and Dr Guthrie is at present still in the process of being finalised. Once these negotiations have concluded, a release will be made to the market outlining the key terms of her employment with the Company.

Toro Energy Limited
T: +61-8-8132-5600
F: +61-8-8362-6655
WWW: www.toroenergy.com.au