http://www.galahadgold.com/
http://www.northerndynastyminerals.com/ndm/Home.asp

Extracts From Chairmans statement in last finals of 10th FEB 04
---------------------------------------------------------------
The Group was formed on completion of a transaction in which the assets of
Shambhala Gold Limited and shares in Skaergaard Minerals Corporation were
acquired by Galahad Capital plc, a company quoted on the AIM market of the
London Stock Exchange. This transaction was announced on 29 October 2003 and
completed on 23 December 2003. The name was changed to Galahad Gold plc on
completion.

Galahad is now a sizeable mining and development company which has the potential
to benefit from opportunities in the precious metals resource sector. It remains
Galahad's aim to own properties with resources containing a total of at least
50m ounces of precious metals gold equivalent. To date Galahad has acquired two
mining projects:

•A 21.9% shareholding (33.25% on a fully diluted basis) in Northern
Dynasty Minerals Limited which has the right to acquire 100% of the Pebble
project in Alaska USA; and

•A 100% shareholding in Skaergaard Minerals Corporation, which owns the
Skaergaard project in Greenland.

Your board believes that the Skaergaard project provides a highly-leveraged
exposure to any increase in the price of gold, platinum and palladium and the
Pebble project provides similar exposure to any increase in the price of gold
and copper.

FINANCIAL YEAR HIGHLIGHTS

•The acquisition of Shambhala Gold Limited and shares in Skaergaard
Minerals Corporation was successfully completed.

•As part of this acquisition, Galahad Gold plc acquired a 21.9%
shareholding (33.25% fully diluted) in Northern Dynasty Minerals Limited, a
Canadian quoted company with an option over 100% of the Pebble project in
Alaska.

•Northern Dynasty Minerals Limited recently announced that the Pebble
project contained 26.5m ounces of gold and 16.5 billion pounds of copper,
making it the largest gold deposit in North America in terms of contained
gold and the second largest copper deposit in North America in terms of
contained copper.

•The successful 2003 development programme at the 100%-owned Skaergaard
deposit in Greenland.

http://www.galahadgold.com/ggp/projects/srk/SRKConsultingReport.pdf

Further highlights since 31 DEC 03 year end.

22 Jan 04 http://www.galahadgold.com/ggp/media/releases/2004-01-22/

29 Jan 04 GALAHAD GOLD PLC Skaergaard - results of 2003 drilling and plans for 2004

30 Jan 04 http://www.galahadgold.com/ggp/media/releases/2004-30-01/

09 Feb 04 http://www.galahadgold.com/ggp/media/releases/2004-02-18/

10 Feb 04 http://www.galahadgold.com/ggp/media/releases/2004-02-23/

11 Feb 04 GALAHAD GOLD PLC Placing by Northern Dynasty Minerals Limited

07 Apr 04 DYOR TODAY DIRECTORS BUY IN!!

Galahad Gold Plc
07 April 2004


Galahad Gold plc
('Galahad Gold' or the 'Company')

Director Shareholdings

The Company has been informed that certain Directors have acquired new ordinary
shares in the Company as part of the recent placing of new ordinary shares at
12p per share. Details of their placing participations and new shareholdings in
Galahad Gold are set out below:

Director No. of shares acquired in New Percentage of issued
the Placing shareholding share capital

Ian Watson 794,633 220,877,573 39.28%

Jim Slater 468,383 63,507,133 11.29%

Mark Slater 345,491 38,611,491 6.87%

Lord Wolfson
of Sunningdale 345,491 3,661,991 0.65%

http://www.axisto.com/bbcnbc/index.aspx?config=data/galahadgold/260204/config.xml

SOULTRADER!!! Interestin article today in Mining Weekly:

Newcomer to take advantage of uranium boom
--------------------------------------------------------------------------------

After two decades of stagnation, the uranium market is once again in an upcycle, largely owing to the increasing demand for energy on a global scale.

This boom is spawning a host of newcomers to the uranium market who are eager to take advantage of the present positive market fundamentals. Similarly, owing to the fact that there is a wealth of projects and deposits investigated more than 30 years ago but left undeveloped because of the slump in the uranium market, there are many opportunities for newcomers to establish themselves in this mineral commodity sector.

One of the more notable examples of this trend is UK-based UraMin, which was established in February 2005 by a group of well-respected individuals, including John Stalker and Sam Jonah, to take advantage of this upcycle in the uranium market. Essentially, UraMin was created for the purpose of acquiring and developing mineral deposits throughout Africa, Australia and North America in order to exploit the uranium price that is rising on, what is predicted to be, a sustained basis. The company is headquartered in London but operates through its subsidiary in Johannesburg owing to the fact that UraMin has its most advanced project in Namibia and a significant number of pending prospecting licences in South Africa.

Southern African operations
Although UraMin was unable to give official comment, Mining Weekly understands that the companys operational strategy in Southern Africa has been dictated by the present fundamentals in the uranium market in that the company intends to take advant-age of the upcycle as soon as possible. It is understood that the com-pany has adopted a strategy to undertake brownfields oper- ations, rather than embarking on new exploration projects, as this will allow UraMin to get a project on line while the market is still in an upcycle.

This seems to be the philosophy behind the companys involvement with the Trekkopje uranium project in Namibia. The Trekkopje project is located in west-central Namibia, about 65 km north-east of Swakopmund and is UraMins most advanced project worldwide. The project area consists of two deposits, Trekkopje and Klein Trekkopje/Arandis, which have an estimated resource of 120,9-mil- lion/lb of uranium at an average grade of 0,013%.

The project area has been extensively explored in the past with primary drilling in mineralised areas at about 100-m to 200-m intervals along lines 400 m apart, with more closely-spaced infill drilling covering areas of better grades. Mining Weekly believes that UraMin plans to complete a feasibility study on the Trekkopje project over the next 18 months, which will be followed by construction, assuming that the results of the feasibility study are favourable. Initial capital costs for the development of the project are estimated at $181-million.

The Trekkopje feasibility study reportedly is on track for completion by the fourth quarter of 2007.

With regard to the companys activities in South Africa, Mining Weekly is aware that UraMin operates through its South African subsidiary, which is based on the joint-venture agreement between black-empowered Mago Resources and UraMin.

UraMin has a 70% shareholding in the company, while the remaining 30% is held by previously-disadvantaged individuals, making the company compliant with the BEE requirements of the mining charter. Through its 70% holding in Mago Resources, UraMin is attempting to consolidate mineral rights in the Karoo, Sutherland and the Springbok Flats regions of South Africa and, consequently, the company has applied for between 60 and 100 prospecting licences in these three areas.

Many of these applications cover known uranium deposits, which amount to a resource estimate of about 200-million/lbs.

The first of these applications went in during the second quarter of last year and are fully supported in terms of the department of Minerals and Energy (DME) requirements. It is believed that UraMin has complied with all the legal requirements in most cases, both with regard to the old- and new-order rights and, as such, there is no reason why it should not get the licences. Although, in some instances, the company is second or third in the line for these applications, it seems to remain confident that it will be granted the majority of these licences within the next few months. Although UraMin is putting a significant amount of time and energy into this application pro-cess, Mining Weekly understands that the priority of the company over the next few weeks is the imminent listing of UraMin on Londons Alternative Invest- ment Market (AIM), which will ultimately benefit the companys long-term future in the investment community.

Future Outlook
UraMin is currently undergoing a compliance listing on AIM, which is expected to be completed by the end of this month. It is understood that this listing is not a mechanism for the company to raise capital but is a means to get tradability of its equity for investors. UraMin is not listing for the purpose of raising capital at this point as the company is still using the $40-million start-up capital that was raised early last year to fund its current projects.

It is apparent that the company has all of its requirements in place for the imminent listing in that the competent persons reports (CPRs) have been done in the final form, brokers and nomads have been nominated, and all shareholders are aware that the company is doing the private placement now.

It is believed that the listing will give UraMin an opportunity to become one of the material players in the uranium industry.

However, once the listing has been completed, the priority of the company will be to prove up as much of the resource that is held by UraMin in as little time as possible. Once it has proved up reserves in the various operations, UraMin can start producing in places where the company can get maximum returns, which, at this point, is most likely to be Southern Africa.

Easy tiger!!! Hey this sp is doing nice..SoulTRader...just a flavour of things to com

Great article, Jameel. I'm looking forward to seeing what effect the UraMin float will have on GLA. My modest holding is now up 13% since I bought just over three weeks ago, so no complaints there :o)

wat u mean? 13% of ur portfolio? For me its much higher around 50%.....not sensible but once my return hits a threshold I will reduce by 1/3

fantasia!!! increased to 12p!! Any news from Level2...?????

I hope this is nothing to do with ramp mania people might be upto! It seems that UraMin float is imminent and the BIG FAT UGLY CATS of the City are all too aware. A mate of mine was saying that on Level 2 alot of sellsssss....Market makers are selling to buy up a huge load later!!! Any views welcomed????

No, 13% profit. I don't have L2, but on my online broker's website there is mostly purchase activity - most of the sales are smaller and some of the larger "sales" may be that old chestnut of larger purchases at bargain prices getting reported late and being called sales by the computer system.

Just a typical cynical caveat ...... shares like GLA are fine while on the upbeat, but if any selling gets a grip then you won't be able to shift enough or fast enough ..... watch out and don't get too greedy .... remember GLA only holds 17% of Uramin, which itself would seem to be something of an unknown quantity.

GLA have also probably moved upwards purely on sentiment - i.e. on the back of the rise in gold .... but whereas that was $525 at London close yesterday and $540 at opening today, it is now back to just below $520.

If youve had a good day please consider giving a donation to the lads dressed as Elvis racing 350 miles to the North Pole on behalf of Great Ormond Street Hospital It makes the London Marathon seem like a stroll in the park!
To donate or view how theyre getting on visit
http://www.elvispolarchallenge.co.uk/
thanks for your time

Good advice, Cynic, although for the time-frame I'm planning on holding these for, I think I should be okay unless a total catastrophe strikes. Randgold Resources is what I am hoping this one is going to imitate.

BTW I think you need to add $100 to your gold prices . . .

Cynic, thank for your advice! But the position with GLA is to top slice the profits as it rises! AND not to keep on forever!

SOUL TRADER!!!!!!!! URANIM ADMISSION DATE IS 21ST aPRIL!!!!!!!

http://www.investegate.co.uk/Article.aspx?id=200604201444087530B


ONLY ONE LITTLE HICKUP GLA HOLDING IS DOWN FROM 17 TO 11% IT SEEMS!!!!

NEVERTHELESS WE SHOULD ATLEAST HOLD ON FOR 7DAYS

SOULTRADER.... IGNORE MY COMMENTS ON GLA FALL IN STOCK!! IT ONLY MEANS THAT MORE SHARES HAVE BEEN ISSUED THUS GLA PROPORTION HAS REDUCED!........ CHRISTMAS WILL COME EARLY! JUST WATCH IT MOVE FROM MONDAY ONWARDS WHEN ALL THE SLOW INVESTORS CATCH ON"!

SOUL TRADER! FYI
AIM
20 April 2006


ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH AIM RULE 2

ALL APPLICANTS MUST COMPLETE THE FOLLOWING:

COMPANY NAME:
UraMin Inc.

COMPANY ADDRESS:
Walkers (BVI) Limited, Walkers Chambers, P.O. Box 92,Road Town, Tortola,
British Virgin Islands

COMPANY POSTCODE:
n/a

COUNTRY OF INCORPORATION:
British Virgin Islands

COMPANY BUSINESS OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY TO BE DISCLOSED IN
ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (J) OF THE AIM RULES:
The exploration, development and acquisition of uranium properties throughout the world

DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price to which it
seeks admission and the number and type to be held as treasury shares):
174,175,792 Ordinary shares of no par value at 68.5 pence

CAPITAL TO BE RAISED ON ADMISSION:
$60 million (34 million)

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:
Samuel Esson Jonah KBE, Non-executive Chairman
Stephen Roland Dattels, Executive deputy Chairman
John Stalker, Chief Executive Officer
Neil Lindsey Herbert, Finance Director
Francis Daniels, Non-executive Director
Graham Edward Mascall, Non-executive Director
James Mellon, Non-executive Director
Ian Watson, Non-executive Director

PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL
BEFORE AND AFTER ADMISSION:

Name Percentage of issued share Percentage of issued share
capital before Admission capital after Admission

Galahad Gold PLC* 16.32 11.64
Millenium Partners LLP 10.74 9.52
Fabrezan Investments Limited** 6.44 4.59
Adrian Lungan 6.04 4.31
Wellington Management Company Ltd - 4.31
Angstrom Capital Limited 5.64 4.02
Samuel Jonah KBE 4.83 3.44
Roytor & Co 8.05 3.43
Moon Capital 1.61 3.30


* Ian Watson (a director of the company) is beneficially interested in 31% of the issued share capital of Galahad
Gold PLC

** Fabrezan Investments Limited is owned by trusts, the beneficiaries of which include Stephen Dattels (a director
of the company) and members of his family


NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
Dr. Morris Viljoen, 1 Sunset Ridge, Stellenbosch Place, Northcliff Ext 1, 1709, Gauteng, South Africa
Dr. Richard Viljoen, 16 Crystal Court, Centre Road, Morningside, 2057, Gauteng, South Africa
Jean Usonis, 1441 Midvale Avenue, #108, Los Angeles, CA 90024, USA
Arnold & Porter LLP, 399 Park Avenue, New York, NY 10022-4690, USA
RSG Global, Block D, Somerset Office Estate, 604 Kudu Street, Allen's Nek 1737 Roodepoort, South Africa
Regent Advisors LLC, 1330 Main Street, Unit 4, Sarasota, FL 34236, USA
Regent Mercantile Bancorp Inc, 105 Adelaide Street W., Suite 904, Toronto, ON M5H 1P0 Canada
Hargreave Hale Limited, Accurist House, 44 Baker Street, London W1U 7AL, UK
LOM Capital Limited, The LOM Building, 27 Reid Street, Hamilton HM11, Bermuda

ANTICIPATED ACCOUNTING REFERENCE DATE:
31 December

EXPECTED ADMISSION DATE:
21 April 2006

NAME AND ADDRESS OF NOMINATED ADVISER:
Matrix Corporate Capital Limited, One Jermyn Street, London SW1Y 4UH

NAME AND ADDRESS OF BROKER:
Canaccord Adams Limited, 1st Floor, Brook House, 27 Upper Brook Street,
London, W1K 7QF

DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT
THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
The admission document, which will contain full details about UraMin Inc. and the admission of its securities will
be available, for at least one month from the date of admission, at the offices of Matrix Corporate Capital
Limited, One Jermyn Street, London SW1Y 4UH and also at the offices of Stringer Saul LLP, Fifth Floor, 17 Hanover
Square, London, W1S 1HU.

DATE OF NOTIFICATION:
20 April 2006

NEW/ UPDATE (see note):
Update




This information is provided by RNS
The company news service from the London Stock Exchange

Thanks for the info Jameel - we shall see regarding the SP. By my calculations UraMin will be capitalised at 120 million at the issue price of 68.5p. GLA's holding is therefore worth just under 14 million. Could be good for GLA's SP, but the prices of these new issues are notorious for dropping off after floatation, and in anycase a company's minority interests are not always fully valued in the holding company's SP.

The full value of GLA will be realised when they start producing from their various Nickel and Moly interests, etc, and this will take a while. I'm in it for the medium term at least, so that's fine with me.

rightly or wrongly, and time will tell, i have just taken my profits here and will now sit back and watch ..... while it is possible that sp will soar on Monday with the start of dealings in Uramin, I have my doubts ...... The Uramin news is already well broadcast, and therefore imo already discounted (and more?) in GLA's sp.

no one ever went broke realising a profit, and it would not surprise me in the least to see GLA falling on Monday as the T10/20 and similar traders get out ..... if they start getting out in any numbers, woe betide trying to cash in your own holdings, for MMs may well not want to know.

CYNIC!!! UraMin - Trading symbol -- UMN!!!!!!! Its trading have a look sp has risen by aa couple of %

If GLA drops, that's a buying opportunity for me. Sooner or later I'm hoping to redirect some profits from elsewhere, and GLA will be on my shopping list. Ten-bagger by end of 2008??

Jameel, UMN's SP is currently standing at an indicative spread of 70/75p, but according to FT.com no shares have moved yet. Maybe you'd like to buy some to get the ball rolling?? :o)

(120 mil for uranium prospects awaiting exploration seems expensive to me. DYOR.)

soultrader.....wat u mean about 2008....so u plan to hold gla!!!! Ten bagger is abit optimistic? I wonder what CYNIC has to say to that? But I guess if it happens I wont be complaining? UMN not yet... GLA is better bet - as u beenfit indirectly from UMN appreciation.. risk is diversified!

Yes Jameel, this is where I have to come out of the closet and admit that I buy to hold. The logic is simple - I buy co's that are sitting on shed-loads of natural resources and wait for them to start selling the stuff. The share-price goes multi-bagger and I slice profits here and there to invest in more companies with similar potential. Short-term trading, on the other hand, looks to me to be too much like taking a bet on which way the SP will move on a given day and I think that that leads to getting caught with one's pants down.

At least, that's my plan, and in the case of NOP and SBE it has served me well so far. JKX I unfortunately missed out on, but it is a good model of what I think GLA and others could do.

Good luck anyway to those who prefer the short-term view. I just prefer the near-certainty of an investment in a natural resources company with a well-diversified set of assets, which in the current commodities market ought to come good in the end.