ASX Release Thursday, 1 September 2016 DRILLING COMMENCES AT PONTON URANIUM PROJECT WESTERN AUSTRALIA

Manhattan Corporation Limited ("Manhattan" and "ASX:MHC") is pleased to announce the commencement of a 40 hole (2,500 metre) aircore drilling program at its Ponton Uranium Project in WA.

HIGHLIGHTS
  • Manhattan recommences drilling at Ponton
  • Aircore drilling, utilising improved down hole gamma probe technology, will be targeted at discovering lignite hosted uranium immediately west of Vimy's Emperor deposit
  • A series of twinned holes will be drilled into Manhattan's Stallion and Highway deposits
  • The 2,500 metre program, of around 40 holes, will provide additional high resolution gamma logging data to be applied to 515 existing holes at Stallion and Highway and utilised to report maiden JORC resource estimates for the two deposits
  • All drilling is 1km to 45km north of the QVSNR

Drilling will target an area approximately 40km north of the Queen Victoria Spring Nature Reserve ("QVSNR") immediately to the west and north of Vimy Resources Ltd's ("ASX:VMY") Emperor uranium deposit. This deposit is currently in the final stages of a bankable feasibility study and the mine approval process (Figure 1).

As well, additional holes utilising improved gamma probe technology, will be drilled into Manhattan's Stallion and Highway uranium deposits north of the QVSNR. The application of the new high resolution down hole gamma probe data will be applied to the conversion of Manhattan's existing gamma drill logs to establish confident disequilibrium conversion factors for the 515 drill holes at Stallion and Highway. If successful, the new disequilibrium conversions to uranium grades for the existing 515 logs will be used to report maiden JORC resource estimates for the two deposits.

Drilling results are anticipated to be available by October 2016.

ALAN J EGGERS

Executive Chairman 1 September 2016

For further information please contact:

Alan J Eggers Telephone:

Executive Chairman

+61 8 9322 6677

Email:

aeggers@manhattancorp.com.au

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FIGURE 1: Manhattan's Ponton Uranium Project Tenement Plan

Manhatten Corporation Limited published this content on 01 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 September 2016 05:05:08 UTC.

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