Centennial Locator Map

Centennial Claims Map

PEA Completed on Two Key Deposits with 12.7 Million Pounds U3O8
Centennial covers 7,100 acres of uranium mineral rights in Weld County, Colorado. The property has undergone approximately 1 million feet of drilling in 3,000 holes. A Preliminary Economic Assessment Report, completed in August 2010 by SRK Consulting, identified combined Centennial deposits containing Indicated resources totaling 9.5 million pounds U3O8 (0.09% U3O8), and an additional Inferred resource of 2.1 million pounds U3O8 (0.09% U3O8), at a 0.2GT (grade-thickness product) cut-off.*

* Resource figures re-calculated post-PEA following termination of an option covering 1.1M lbs of uranium resources.

Planned 700,000 Pounds per Year U3O8**
The proposed ISR project envisions a 700,000 pounds per year U3O8 production rate and a 75% ultimate recovery; generating a 14 year mine life. The base case economic analysis results (based on a uranium selling price of $65/lb.) indicate a pre-tax Net Present Value (NPV) of US dollars (USD) 51.8 million at an 8% discount rate with an Internal Rate of Return (IRR) of 18%. Phase I (initial) capital costs are estimated at USD71.1million and Life of Mine operating unit costs of USD34.95/lb U3O8.

** Subject to re-evaluation based on termination of option covering 1.1M lbs of uranium resources.

SRK stated that the Centennial Uranium ISR project is sufficiently attractive from a technical and economic perspective that it justifies further work by Powertech toward completion of project permitting, and further definition of hydrogeological characteristics that would allow for ISR production parameters.

Recent Work
Powertech has completed a significant amount of work focused primarily on preparing the project for in situ (ISR) leach permitting and feasibility. This work has included drilling, recovery tests, water well tests and environmental studies. At the request of the Colorado Division of Reclamation, Mining and Safety (CDRMS), the Company prepared and submitted an updated Site Characterization Plan in April 2009. All the required environmental surveys and studies have been completed and the draft reports have been received.

UIC Class I Injection Permit Application
Powertech completed its application to EPA for a Class I UIC Permit in November 2010. On December 9, 2010, EPA informed the Company that the application was deemed complete.

New ISR Rules
House Bill 1161 was passed by the Colorado Legislature and signed into law by Governor Ritter in 2008. Powertech had opposed the bill. The bill amended the Mined Land Reclamation Act by adding restrictions to uranium mining in Colorado. In 2009 and 2010, the Division of Reclamation Mining and Safety (DRMS) conducted a rulemaking process for HB-08-1161, The rulemaking process also included two related bills: SB 08-228 and SB 08-169. The final rules were effective September 30, 2010. The DRMS had asked Powertech to withhold its application until the rulemaking was complete. On November 1, 2010, Powertech, through its counsel, filed a civil suit challenging both the substance of certain rules and the procedure under which they were promulgated. In January 2011, Powertech met with the DRMS and is actively engaged in discussions regarding the regulations and the Company's complaint.

What's Next
As of October 2011, Powertech has elected to defer activities at Centennial and focus its efforts on the Dewey-Burdock Project exclusively. The company continues to meet periodically with the regulatory agencies and Weld County to provide updates and plans.

Link to NI 43-101 Technical Report