Snake Creek - Copper, Gold and Uranium

Glengarry has an Exploration Permit covering 260 square kilometres at Snake Creek, located 125 kilometres east southeast of Mt Isa in northwest Queensland. The Project is prospective for copper-gold and uranium mineralisation.

Following a review of exploration data from the Project in early 2008, the Company elected to seek a JV partner for the Project. Glengarry has subsequently negotiated a farm in agreement with Ivanhoe Australia Ltd, a company with significant defined copper-gold resources and extensive tenement holdings in the region. Ivanhoe has the right to earn up to 85% equity in the Project by spending $1.5 million on exploration within 3 years of signing the Farmin Agreement.