17 December 2013
The Manager
Market Announcements Platform ASX Code: SHE
ASX Limited, Exchange Centre
20 Bridge Street
Sydney NSW 2000

Market Update


Stonehenge Metals Limited (ASX: SHE) (Stonehenge or the Company), a uranium and vanadium exploration and development company with projects in South Korea, provides shareholders with an update in relation to its recent activities.

Highlights:

o Improved interpretation of mineralised black shale units from recent field mapping and rock chip sampling

o Strong reinforcement of existing resource of 67Mlbs U3O8 and 17Mlbs V2O5 (JORC (2004) compliant)

o Processing costs remain competitive due to multi commodity credits of Uranium and

Vanadium

o Further cost saving measures implemented

Geology

Stonehenge recently completed a fieldwork program aimed at delineating and extending the mineralised black shale contour at surface within the Seongdang, Yokwang and Chubu Prospects. During the traversing of the 200m spaced SE-NW lines the following information and samples were systematically collected: