Wednesday, 26 July 2006

MARKET ANNOUNCEMENT

Presentation at Australian Uranium Conference

We are please to enclose a copy of a presentation to be made by Managing Director, Mr Shanker Madan, later this afternoon at the Australian Uranium Conference in Fremantle, Western Australia.

For further information: Shanker Madan Managing Director T | (08) 9214 9700 E | [email protected]

Victor Ho Company Secretary T | (08) 9214 9700 E | [email protected]

ASX Code: SRK

www.strikeresources.com.au

STRIKE RESOURCES LIMITED

A.B.N. 94 088 488 724

Level 14, 221 St Georges Terrace, Perth WA 6000 T | (08) 9214 9700 F | (08) 9322 1515

The Company of the Company of the Company of the Company of the Company of the Company of the Company of the Co RESOURCES LIMITED

Portfolio of Projects

264072006

Strike's Portfolio of Projects

AUSICIE

,

• $\blacksquare$ Uranium NT $-$ Earning 75% in 5 ELA (4666 sq km)
• Uranium WA 6 EL s in two separate areas (four granted tenements)
• Gold Copper Uranium WA 2 EL (one granted) E
• Iron Ore WA 1 PL and 1 ELA

- Thuonesta

• Thermal coal in Kalimantan – right to earn 100% in a concession

BATU ▉

- Due diligence on two Iron Ore projects in which the Company has the right to earn in a 51% or greater interest.

Portiologie Tranium Projects

OANSAITETA TETTION

• Key tenement (ELA 24879) adjacent to and approx 5km South of Bigriyi deposit stated by Energy Metals as a JORG resource of 8.37 million pounds of U₃O₃ at a out-off grade of $0.1\%$ . (1)

• 5 ELA S in total covering approx 1,666 sq. km

(1) Source: Energy Metals Ltd Market Announcement dated 25th July 2006

Portfolio of Uranium Projects

A Wastem Australia

• Key tenement the main focus of uranium exploration by AGP Nuclears in the 1970s.

• Previous drilling results in tenement included up to 0.14%U or equivalent 0.17% U₃O₂ as uraninite in core holes

Australian Projects

Uranium - Northern Territory

NTAGVantage

• & Federal government has taken conduct of uranium policy for the territory
• · Federal government sympathetic to expansion of urantum mining beyond the 3 mines policy. • Moving towards excansion of current uranium mining poTey

Uranum Northem Territory

BIGHVI SOUH

Strike is earning a 75% interest in 5 tenements covering 1,666 sq km.

Strike's tenements cover the same stratigraphic sequence of Mt Edipse Sandstone in the Ngalia Basin - 390 km northwest of Alice Sonnes

• 3 known but untested uranium anomalies lie within ELA 24879 and 1 WINDIA 24927

Hnergy Metals and Strike Resources

8

Bigtlyi South Tenement Geology

Urahithnin harakata kata kata ya kata ya kata ya kata ikepeated at Bigriyi South because :

• Proximity to known mineralisation Bigriyi South is 5 km south, in adjoining tenement to Bigriyi
• . Tenements in the path of north-south flow regime of uranium-Beering fluids
• · Permeable strata interlayered with carbonaceous matter repeated due to folding, and
• Posiulated low angle thrust fault(s) that straddles across Bigrivisionin

Map supplied courtesy Energy Metals Limited

STRIKE RESOURCES LIMITED BIGRLYI SOUTH URANIUM PROJECT

Bigrlyi South Tenement Geology (Landsat Image)

Bigglyd South Tenent Status

• Containents (ELA's) at application stage
• 4 Tenements including key tenement on pastoral lease
• 1 Tenement on Aboriginal free hold land
• · Objection periods for pasioral lease tenents expired in June/July 2006 without any objections lodged. Tenements are expected to be granted within weeks.

Bigrlyi South: Moving Forward

A MORTION RETGEL

• Delineate primary mineralisation along existing thrust faults and fold hitetes

6 Exploration Strategy

• Fly low level, high resolution radiometric survey
• Identity known anomalies
• Sample water bores
• Follow up anomalies with ground surveys
• Drill identified targets

Uranium Western Australia

THI CENTROLES

· Mt James, Gascoyne Region

Wein Type and

· Shallow carnotite in lateritic profile

· Mt Lawrence Wells, near Lakeway and Hinkler Well

•Shallow calcrete and gravels in palaeo channels

«Ganning Well, Balfour Downs, 100km west of Kintyre Sandstone hosted, roll front in Proterozoic sediments

Mt Janes Project - Gascoyne

MtJanes Project:

* Tenements cover a large portion of extinguished TR 3963H which was the main focus of uranium exploration by AGIP in 106 19705.

A Previous drilling by AGIP in SRK tenement included intersections of up to 0.14% U or equivalent of 0.17% U.O.: over 0.2m from 69.5m as uraninte in core holes.

Mt James Project - Gascoyne

Tracellion

• Carnotite discovered by AGIP in shallow trenches and shallow RAB holes in the deeply weathered Tertiary regolith on drainage CIVICIES
• 12 untested radiometric uranium anomalies within tenements Totantified but never tested.

Mt James Project - Gascoyne Region

Mt James Project – Gascoyne Region

Mt Janes Project Gascoyne Region

Mt Janes Tenenent Status

• 0 3 Tenements granted (EL's 09/1245, 09/1256 and 09/1258) . E091245 and E091258 are regarded as key WA uranium Kananana
• $\bullet$ 1 Tement (ELA 09/1257) at application stage
• Remaining ELA is in the expedited native title process
• · Standard Heritage Agreements executed
• Objection period for the remaining tenement expired in June 2006

Mt Janes Moving Forward

Exploration Target

Shallow carnotite mineralisation in the weathered surface on drainage divides

• Deeper uraninite mineralisation in pegmatitic veins in the gneissic rocks – vein type deposits

Mt James : Moving Forward

Exploration Strategy T

· Follow up known uranium intersections and untested anomalies Wilh cirilling

· Conduct ground radiometric surveys, followed by drilling for Gainonte mineralisation

Mt Lawrence Wells Project Wiluna

Mt Lawrence Wells Project - Wiluna

Exploration Model

- The rearby Lakeway deposit with 8,695 tonnes of contained uranium metal as carnotite in ca creatic coatings on baching planes of rock fragments in alluvfal gravels

« Urantum derived from grante and Proterozofo sedinents may have deposited uranium in palaeo chamiels on the edges of the lakes as CEMIONIC

Mt Lawrence Wells Project - Wiluna

lmage © 2006 DigitalGlobe
Image © 2006 TerraMetrice

Mt Lawrence Wells - Hinkler Well Connection

• E Sulte delle vesure grande arcibe Prote rozofo sandstone hils that drain into Hinkler Well palaeo channel and are situated in Strike tenements are Hasiy to be the source for uranium mineralisation in Hinkler Well
• · Hinkler Well uranium bearing channel and the OTAVAJSTIJA I KOVAT I ITETTOTI JAPTI TAX GTI TOJ TIJA Chamel excite frio Stilke's tenements.

Mt Lawrence Wells - Tenement Status

• 1 Tenement granted (E58/1145), 2 tenements (ELA) at application 860
• 3 Tenements including two key tenement on pastoral lease land
• 1 ELA is in the expedited native title process
• · Standard Heritage Agreement executed
• Objection period for tenement expired in June 2006

Mt Lawrence Wells: Moving Forward

OEXOloration Target

• Palaeo dramage feeding into Lake Hinkler with Hinkler, Centipede and Millipede uranium occurrences

• Exploration Strategy

· Follow the draftiage channels with ground radiometric SUNGYS

• Follow anomalies with RAB chilling

THANK YOU

The information in this presentation that relates to exploration results has been compiled by Mr Hem Shanker Madan who is a Member of The Australian Institute of Mining and Metallurgy. Mr Madan is the Managing Director of the Company. Mr Madan has in excess of 5 years experience which is relevant to the style of mineralisation under consideration and qualifies as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves (the JORC Code)." Mr Madan consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears

DSIOTERORS