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Summit Resources Ltd - 28/07/2006

Noted that its wholly owned subsidiary, Summit Resources (Aust) Pty Ltd (“Summit”), was seeking confirmatory legal advice on whether the structure of the proposed takeover offer by Paladin Resources Ltd (“Paladin”) for Valhalla Uranium Limited (“Valhalla”) triggered Summit’s pre-emptive rights under the Isa Uranium Joint Venture Agreement (the “Joint Venture Agreement”).

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