22 November 2012

ASX/ Media Release

SALE OF GAA WIRELINE AND PFN TECHNOLOGY

Following the successful sale of UXA's US wireline logging business (ASX announcement 13
November 2012) the Board of UXA Resources Limited (ASX: UXA) has decided to sell its Australian wholly owned logging business, GAA Wireline (GAA), along with the intellectual property for the Prompt Fission Neutron (PFN) technology. Capital Strategies of Adelaide has been appointed to manage the sale process. All enquiries should be directed to John Kerr at Capital Strategies (T: +61 8 8223 1727, www.capitalstrategies.com.au )
The GAA Wireline business provides a full suite of borehole logging services to the mining and exploration industry in Australia. This includes operations in the following sectors:
• Coal and coal seam gas, principally in Queensland and Northern Territory,
• Iron ore industry in South Australia and New South Wales,
• Uranium in South Australia and Western Australia
• Base Metals in South Australia.
UXA also owns the Prompt Fission Neutron (PFN) technology which has a unique role in providing instant uranium analysis, with a particular application in deposits with disequilibrium. GAA Wireline is the delivery platform for PFN in Australia.
The sale will have no effect on GAA's or UXA's operations which will continue as normal during the sale process.
Commenting on the plans, UXA Resources' Chairman Mr Neill Arthur said:
"The sale of GAA Wireline and PFN is part of the re-structuring of UXA, to reduce debt and re- finance the company through a combination of assets sales and capital raisings. The sale will allow UXA to focus on its core business of mineral exploration, particularly at the Mundi Plains lead zinc silver project."
For further information contact:
Neill Arthur
Chairman
Or
Dr Russell Penney

Managing Director.

Tel: +61 8 8363 7970

Email: info@uxa.com.au

Website: www.uxa.com.au

More information on UXA can be found on our website at www.uxa.com.au



43a Fullarton Road Kent Town SA 5067 Australia T: +61 8 8363 7970 F: +61 8 8363 7963 E: info@uxa.com.au W: www.uxa.com.au

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