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Janchivlan Property

•	Project Highlights		•	Location, Infrastructure and Climate
•	Project Overview		•	Project Geology
•	2007 Drill Program Results		•	Exploration History
•	2007 Exploration Program

Project Highlights

• Located 70 km southeast of the capital, Ulaanbaatar; easily accessible
• 4 confirmed ore-grade mineralization zones with total thickness of 21.1metres and 27 anomalous mineralized zones with total thickness of 161.45 meters
• Area of influence at present is only 0.65 sq. km in a 4.2 sq. km zone of known mineralization, a fraction of the entire 196.38 sq. km Janchivlan Property
• Ore-grade cutoff is 300ppm or 0.03% U3O8 concentration
• 25,000 meter diamond core drill program for 2008

Uranium 308 Corp. focused 2007 fieldwork on the areas marked in blue, the Urt mineralization zone in the south and the Elstiyn zone in the north. Current data indicates that uranium ore confined to the target areas (marked in red) represents a potential zone of amenable rock with alteration and structure covering nearly 100 sq. km. Uranium 308 Corp.'s current exploration focuses on two promising sub-areas (approximate 4 km2 in total) in Target 2 and Target 3 zones as shown above. Red dots represent not only high radiometric anomalies but also promising target for uranium exploration. Orange, pink and yellow coloration represent granitic intrusions that occurred in different time periods.

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Project Overview

< Uranium mineralization in rock from Elstiyn seen in green flecks.

The Company controls two exploration licenses on the 196.38 sq. km Janchivlan property through its wholly-owned BVI subsidiary, Mongolia Energy Limited (“MEL”) and MEL's wholly-owned Mongolian Subsidiary, Tooroibandi Limited, which enhances the Company's operational effectiveness in Mongolia.

Uranium 308 Corp.'s exploration program, which started in mid-August 2007, confirmed the accuracy and reliability of the results obtained from USSR-era exploration in 1982-1985. The Soviet-led exploration identified four uranium mineralization zones (Urt, Elstiyn, Arshan and Tamga) with average uranium grades ranging from 0.002% to 0.28%. Uranium 308 Corp. fieldwork conducted in summer and fall 2007 focused on establishing the parameters for a future calculation of the property's near surface uranium resource. Uranium 308 Corp. geologists focused primarily on Urt and Elstiyn.

At Urt, the Company's exploration has to date extended known mineralization in four parallel mineral belts trending east-west over a 400m wide area; three extend 600m and the fourth 800m; all remain open. There are also indications of an inferred fifth belt south of the four confirmed belts at Urt. At Elstiyn, there are three mineralized belts trending north-south, south-east and east-west that remain open at 550m.
Uranium 308 Corp. has confirmed that Janchivlan's alteration and mineralization zones are primarily controlled by east-west trending faults and that mineralization is especially enriched at the intersections of the E-W and N-S trending faults. This E-W shear zone, a major ore control structure, has been mapped for 7 km. Current data indicates that uranium ore confined to the target areas represents a potential zone of permissive rock with alteration and structure covering nearly 100 sq. km. Uranium 308 Corp.'s initial exploration focused on two promising sub-areas (approximate 4 square km in total) in Target 2 and Target 3 zones as shown in the map above.

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2007 Drill Program Results

These maps show shear zones (red lines) and outcrops (yellow lines) of ore bodies in the mineralized zones identified by surface trenching and tested with diamond drilling in the 2007 exploration program. The map on the top shows the North Block (Elstiyn) and the map below shows the South Block (Urt). Drill hole locations are identified in green (EDH-0701, EDH-0702, etc.) The wavy lines indicate the contours of the terrain.

Complete multi-element and uranium geochemical assay results from Janchivlan’s 2007 diamond drill core samples have confirmed four ore-grade mineralization zones with total thickness of 21.1metres and 27 anomalous mineralized zones with total thickness of 161.45 meters. The ore-grade cutoff is 300ppm or 0.03% U3O8 concentration. SGS Group labs conducted the geochemical assay on the samples from six holes, three in the North Block and three in South Block.

Based on the SGS geochemical assay results for uranium, it has been observed that the drilling intercepted most of the projected mineralized sections that the Company’s earlier surface trenching program had exposed and identified. Additional mineralized sections were found at depth. Base metal and precious metal associations with uranium indicate structural continuity with the surface geology and also provide indications for directing future exploration.

Uranium 308 Corp. is at the beginning stage of outlining the shape and extent of four (4) ore bodies within two sub-areas of the North and South Block that when more fully understood will allow for ore tonnage to be calculated. The area of influence at present is only 0.65 sq. km in a 4.2 sq. km zone of known mineralization, a fraction of the entire 196.38 sq. km Janchivlan Property. Drilling planned for 2008 will define resources in this specific known mineralization zone that can be qualified and quantified. A Qualified Person level report compliant with SEC standards will be developed for these uranium mineralizations. An updated map and detailed drilling plan for these areas will be soon available on the Company’s website.

The Company also expects that continued exploration will define additional zones of known mineralization first identified during Soviet era exploration and confirmed by the Company’s own 2007 fieldwork. A 25,000 meter diamond core drill program is planned for 2008. The following table details specific thicknesses of mineralization and concentrations of uranium by percentage, kilograms per tonne and parts per million. The table includes anomalies with a value is equal to or more than two times the background value.

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Janchivlan uranium assay 2007 drill core results
EDH=North Block (Elstiyn); UDH=South Block (Urt)

Commentary on Mineralized Zones with Background Values

NORTH BLOCK
EDH 0701 intercepted a 14.1-meter-thick ore grade mineralized zone from 25.6m to 39.7m with uranium concentration ranging from 331ppm to 2052ppm (0.01% to 0.2052%) U3O8. (Background is 10.8ppm (0.00108%.)) This ore zone is the combination of down dip extension of the ore bodies U1 and U2 that the surface trenching program exposed and identified. There are also 1-meter-wide and 2.75 meter-wide anomalous mineralized zones intersected on both sides of this ore-grade mineralization zone from 23.6m to 24.6m and 39.7m to 42.45m with U3O8 concentration of 157ppm and 133ppm. Another 3-meter-thick ore-grade mineralized zone is also intercepted from 246.6m to 249.6m with uranium concentration of 452ppm (0.0452%). This mineralized zone is a newly discovered structure in addition to the ones that the surface trenching program revealed.

This hole also intercepted another four separate units of 9 meters, 38.5 meters, 23.8 meters, and 1.2 meters thickness of anomalous mineralized zones from 141.75m to 150.75m (35ppm to 56ppm), 159.75m to 198.25m (31ppm to 112ppm), 222.8m to 246.6m (28ppm to 96ppm) and 249.6m to 250.8m (30ppm) respectively where background is 10.8ppm (0.00108%). All four of these anomalous zones are newly discovered structures in addition to those that the surface trenching program revealed.

EDH 0702 intercepted a 2-meter-thick ore-grade mineralized zone from 370.3m to 372.3m with uranium concentration of 433ppm (0.0433%) U3O8. (Background is 9.8ppm (0.00098%)). This ore zone is a newly discovered structure in addition to those that the surface trenching program revealed. There is also 6-meter-wide anomalous mineralized zone intersected on the side of this ore-grade mineralization zone from 372.3m to 378.3m with U3O8 concentration ranging from 149ppm and 193ppm. This hole also intercepted seven (7) other anomalous mineralized zones with a total thickness of 31.7 meters with uranium concentration ranging from 26ppm to 71ppm. (Background is 9.8ppm). All of these anomalous zones are newly discovered structures in addition to those that the surface trenching program revealed. The individual thickness and uranium concentrations of these seven (7) other anomalous mineralized zones are:

EDH 0703 intercepted an 18-meter-thick and two 3-metre thick anomalous mineralized zones from 22.15m to 40.15m; 82.15m to 85.15m and 207.5 to 210.5m with uranium values ranging from 26ppm to 46ppm U3O8. (Background is 11.8ppm (0.00118%)). These anomalous mineralized zones are newly discovered structures that were not observed in the surface trenching program.  The multi-element analysis from additional drilling indicates a broad zone of alteration and epithermal mineralization up to 51m wide.

SOUTH BLOCK
UDH 0701 intercepted a 2-meter-thick ore-grade mineralized zone from 8m to 10m with ore-grade uranium concentration of 340ppm (0.034%) U3O8. (Background is 16.5ppm (0.00165%)). There are also 2-meter-wide and 6-meter-wide anomalous mineralized zones intersected on both sides of this ore-grade mineralization zone from 6m to 8m and 10m to 16m with U3O8 concentration of 237ppm and 32ppm. This hole also intercepted five (5) other anomalous mineralized zones with a total thickness of 10 meters with uranium concentration ranging from 26ppm to 35ppm (Background is 12.5ppm). The individual thickness and uranium concentrations of these five (5) other anomalous mineralized zones are:

UDH 0703 intercepted a 1.5-meter-thick and a 2-metre-thick anomalous mineralized zone from 92.5m to 94m and 86m to 88m with a uranium value of 42ppm and 29ppm U3O8. (Background is 12.5ppm (0.00125%)). These anomalous zones are newly discovered structures in addition to the ones that the surface trenching program revealed.

UDH 0704 intercepted a 2-meter-thick anomalous mineralized zone from 11m to 13m with a uranium value of 77ppm U3O8. (Background is 14.1ppm (0.00141%)). This anomalous zone is the down dip extension of the ore body U2 that the surface trenching program exposed.

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2007 Exploration Program

^ Boart Longyear type 38 drill rig in operation at the Janchivlan Property. The 2007 exploration program included a seven-hole diamond drill program to a total of 1421m and a radiometric survey of each hole.

The Company conducted a multi-phase exploration program at Janchivlan from mid-August 2007 to mid-January 2008, when winter conditions prevented further work. Exploration focused on two areas totaling 4.2 sq. km from the Urt (South) and Elstiyn (North) block. The exploration program included:

• 1:2000 terrain mapping that provided accurate coordinates reference for further exploration and engineering.
• 1:2000 geological mapping enabled the development of a set of geology, alteration, coverage, and structure maps to guide further engineering work. The team marked on the ground the range, contact correlation, alteration, structure, mineralization zones, and structure-alteration-mineralization correlation of various lithologies and granitic intrusive bodies in different geological periods.
• Surface trenching comprising 22 trenches and 17,000 cubic meters of soil, with radioactive recording, geological recording, and channel sampling. Samples were sent to SGS Mongolian lab for preparation and multi-metal analysis.
• Sample analysis at SGS Canadian lab for uranium, thorium, tungsten, and tin tests. The total number of samples was 612. The industrial standard uranium was found in more than 35% of the total samples with the maximum value 0.35% of U308.
• Confirmation of 4 close-to-surface, parallel east-westward trending alteration zones in the south block. They range from 400-600 m in length and from a few meters to more than 10 m in width. Uranium zones are open at both east and west side.
• Confirmation of 2 close-to-surface east-westward mineralization zones in the north block. They range between 400-800 m in length and several meters in width; 1 south-northward mineralization zone with 150 m in length was also confirmed.
• Drilling seven holes (six successful and one abandoned) in diamond core drilling program to a total of 1,421m to identify depth of mineralization identified by trenching. Cut core samples sent to SGS Group lab in Canada for analysis.
• Conducting down-hole radiometric survey on six holes. 

Location, Infrastructure and Climate

^ Track hoe excavating trench 3810 in target 2.

Uranium 308 Corp.'s Janchivlan project is located in the Janchivlan mineral district. The project area is 70 km southeast of Ulaanbaatar, the capital of Mongolia, and 300 km southeast of Erdenet, Mongolia's second largest city and a major mining centre established to develop Asia's largest copper deposit.

Existing roads provide easy access to most of the property; much of it can easily be driven over by four wheel drive vehicles. The property crossed is also only 16 km from a major railway station, Bagahangay, that has rail connections to China and Russia. A high voltage power line linking Ulaanbaatar and Baganuur runs along the northern edge of the property.

Mongolia has an extreme continental climate with long, cold winters and short summers, during which most precipitation falls. The exploration season extends from late April through early October.

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Project Geology

^ Trenches excavated in target 2.

The Janchivlan property is located in the Khentay-Daur Metallogenitic Uranium Province, a 1200 km long and 300 to 350 km wide geological region that extends into both Mongolia and Russia. The province contains several well known large to super large uranium deposits. They include the Gorney (C1+C2 5,300t; resources: 13,000t); and Bereskoe and Yugar uranium deposits, as well as several medium to small scale uranium deposits such as the Akuhtin, Balon-Ulanka and Eastern uranium deposits.

It is part of a 500-600km2 granitic plutonic intrusion that was emplaced in the late Triassic to early Jurassic time period. The primary host rock is coarse grain biotitic granite that has been pervasively reformed by argillic, chloritic, and phyllic alteration and silicification. These rocks are permissive to uranium mineralization, which has been discovered in close to surface secondary ores including uranite and torbernite. The primary ore, fluorite-sulphide-uraninite plus coffinite, is widely intercepted at depth.
Alteration and mineralization zones are primarily controlled by east-west trending faults, with mineralization highest at intersections of east-west and north-south trending faults. There have been four discoveries of uranium occurrences in fracture zones associated with Jurassic granite at the Urt, Tamga, Elstiyn and Arshan areas.

The Urt area is located in the south Janchivlan on the central part of the late Triassic to early Jurassic Janchivlan granite intrusion. Uranium mineralization is associated with a tectonic fractures cutting greisenized and albitized porphyry type biotite granite. The south part of Tamga uranium occurrence is located in the Janchivlan property and is associated with an alteration zone subjected to a strong influence of limonite, kaolin, potassium feldspar, and fluorite.

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Exploration History

^ Geologic team mapping and testing trench 3815 for mineralization in target 2.

Geophysical surveys conducted by Soviet exploration teams in 1982 led to the discovery of multiple uranium anomalies, according to records in Mongolia's Ministry of Ministry of Power, Mining Industry, and Geology. Mongolia was then a Soviet republic. Follow up work took place in 1982 and 1983. Initial exploration focused principally on the Urt and Tamga zones and included trenching, geological mapping, gamma-spectrometric mapping, geochemical sampling, electric survey, channel digging, blasthole drilling, and groove sampling.

At Urt, the Soviet program identified a 30m by 300m uranium anomaly on the property. Sampling results indicated an average grade of 0.1% uranium, with values ranging from 0.002% to 0.28%. This zone also has Pb, Mo, Zn, As and Ag mineralization.

At Tamga, Soviet explorers found a 260 m long radioactive anomaly in the fractured sections that coincide with Mo, Pb, and Zn anomalies. Drilling delineated a mineralized zone 40m wide and 100m in length with an average grade of 0.15% uranium, with localized areas grading up to 0.236%.

Uranium 308 Corp. commenced fieldwork in mid-August 2007 shortly after securing the first exploration license for the south part of the Janchivlan Project.

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