ECO RIDGE OPPORTUNITY

"Our team is committed to achieving environmental, economic, and social sustainability at Eco Ridge. Every phase of this project, from development through operation and decommissioning, is being designed to safeguard the environment while providing Canada with a dependable, long-term energy source." - Fergus Kerr, Pele's V-P of Uranium Operations

Economic Opportunity

• An independent Scoping Study in October 2007 by Scott Wilson Roscoe Postle Associates outlined a "base case" scenario of an 18-year mine life, annually producing 826,000 pounds of U₃O₈ at a cash operating cost of US$55.51 per pound.
  
• Ongoing studies seek to optimize mining, processing, and waste management methods for inclusion in a Pre-Feasibility Study, to be led by SRK Consulting in collaboration with SNC-Lavalin.
  
• Increasing global demand for clean energy has rekindled interest in nuclear power. Industry forecasts predict substantial increases in the number of operating nuclear reactors in coming years.
  
• The long-term contract price of uranium continues to maintain historically high levels with many market observers expecting still higher prices in years ahead. The Eco Ridge Mine provides investors with outstanding leverage to increasing uranium prices.
  

Environmental Opportunity

• The mining, processing, and waste management methods selected for Eco Ridge are significantly more environmentally-friendly than those used historically at Elliot Lake.
  
• More than 60-percent of mined rock will remain underground, while rock brought to the surface will be treated and contained without the need for a tailings pond. Processing will be conducted in a closed circuit to prevent liquid effluent from entering the surrounding environment.
  
• Pele has undertaken comprehensive aquatic and terrestrial environmental assessments to ensure that it operates with minimal environmental impact.
  
• Uranium from Eco Ridge will produce clean, reliable, and affordable nuclear energy, the generation of which does not create "greenhouse gases".

Social Opportunity

• Pele is engaged in friendly and productive communications with local communities to provide timely and comprehensive information regarding its proposed project.
  
• Pele is engaged with First Nation leaders to develop a formal working relationship based on mutual respect and understanding. Pele is employing First Nations personnel on the project, helping them develop transferable technical skills.
  
• The mine would create up to 200 new full-time jobs in the area, increasing economic diversification and benefiting local business over the long-term.
  
• The construction and operation of Eco Ridge would draw new families to Elliot Lake, supporting sustainable economic growth and restoring the city's proud mining heritage.