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Bowen Energy Limited ASX: BWN Australian Securities Exchange Company Announcement Platform 14 November, 2007 Bowen Energy Limited ASX: BWN Appendix 5A Amended Quarterly Activity Report Bowen Energy Ltd (ASX Code: BWN), listed on the Australian Securities Exchange on the 15 February 2007 and is a Queensland based coal and uranium exploration company. Attached is an amended Quarterly Activity Report for the period to 30 September, 2007. The amended report removes incorrect references to the JORC code that were included on pages 8 and 9 of the original announcement that was lodged on 31 October, 2007. The competent persons statement has also been amended to remove the reference to mineral resources that was included in the original statement. For personal use only 14 November, 2007 Bowen Energy Limited ASX: BWN Appendix 5A Amended Quarterly Activity Report Bowen Energy Ltd (ASX Code: BWN), listed on the Australian Securities Exchange on the 15 February 2007 and is a Queensland based coal and uranium exploration company. Bowen Energy holds a significant land position, principally within the Bowen Basin and is exploring for Coking, PCI and thermal coal deposits. Bowen Energy holds two granted exploration leases for uranium and base metals and has recently acquired a significant land position in emerging uranium prospective districts in Queensland (Croydon/Georgetown region) and Western Australia (East Kimberly district). Bowen Energy is pleased to report on its activities for the quarter ended 30 September 2007. Highlights • Significant uranium mineralisation Intersected on the Glen Isla Project • Discovery of coal outcrops in the West Rolleston Project Figure 1. Project Locations For personal use only East Middlemount Project EPC 930 40% (240 sub-blocks reduced form 300 sub-blocks) Richfield EPC1014 100% (32 sub-blocks) Cockatoo EPC1085 100% (3 sub-blocks) North Middlemount Work programs on the East Middlemount project have involved compilation of digital geophysical, remote sensing (Landsat) and GIS data in preparation for reconnaissance field programs and scout drilling. A drilling program involving 14 bore holes targeting a number of seismic horizons has been proposed. This work is expected to commence in the next quarter subject to arrangements with drilling companies Bowen energy is currently in discussions with a number of drilling companies to fast track this project. Initial notices of intention to enter occupied land have been sent out to all land owners and Bowen Energy will shortly imitate discussion with local landowners prior to commencing exploration programs. Work programs have been discussed with landowners and agreements are being put in place prior to drilling activities. Exploration activities over EPC930 are currently being operated by joint venture partners Rocklands Richfield Limited (ASX: RCI), who are to expend $527,000 to earn 60% equity. Previous results of exploration programs conducted by RCI are available on the ASX. No new information has been forthcoming to BWN on their exploration activities. With previous drilling confirming the presence of coal bearing sediments of the German Creek Formation north of Middlemount and east of the Foxleigh Fault. The EPCs are situated in the Bowen Basin and are 10kms from the German Creek East coal mine and 20kms from the Norwich Park coal mine which both produce volatile coking coal. Previous investigations indicate that thin but high quality coal seams of the German Creek Formations may be present in the eastern part of the Project and that the main target of thick coking coal seems belong to the Rangal Coal Measures (as well as the other coal bearing formations) are present at depth in the western part of the Project. Previous seismic surveys confirm the continuity of high reflectance horizons attributed to the Rangal Coal Measures to the west of the Foxleigh fault. Expected depths to the top of the Rangal coal measures varies from 200m in the North to as shallow as 100m in the central area. Shallow drilling east of the Foxleigh fault in the south areas has confirmed stratigraphy attributed to the German Creek Formation. However seismic profiles in this area are inconclusive due to the presence of cover sequences containing basalt. Bowen Energy intends to chase these reflective horizons with strategic drilling programs to confirm and quantify potentially economic coking quality coal resources. West Rolleston Project EPC 1001 100% (44 sub-blocks) Mt Cheops EPC 1002 100% (63 sub-blocks) Kia Ora EPC 1084 100% (33 sub-blocks) Springsure South EPCA 1187 100% (300 sub-blocks) Buckland For personal use only Bowen Energy is highly encouraged by early results of our exploration program within the West Rolleston Project. (EPC’s 1084, 1001, 1002 &EPCA1187) figure 1. The Queensland Department of Mines and Energy has granted EPC1002 (Kia Ora) to Gold Country Resources Pty Ltd a subsidiary of Bowen Energy Ltd. EPC1002 (63 sub-blocks) was granted on the 25th September 2007. Bowen Energy has further consolidated its ground position in the region with an additional application EPCA1187 “Buckland” (300 sub-blocks). These tenements demonstrate Bowen’s ongoing commitment and belief in the exploration potential of the Springsure Shelf and follows on from the discovery of out-cropping coal seams within EPC1001. (ASX announcement 10th September 2007) The project area is located some 40 kilometres south west of the town of Springsure and 40 kilometres west of X-Strata Coal’s Rolleston Mine and the new heavy gauge railway constructed to service that mine. Reconnaissance field mapping within EPC1001 has located a 2m thick seam of clean coal with thinner coal seams both above and below the main seam also observed in outcrop. The main seam was observed in numerous outcrops and subcrop areas extending for several hundred meters along the axis of a major drainage system within the EPC. Figure 2 West Rolleston Project The coal seams are interpreted to correspond with those defined in the nearby Freitag Creek Deposit in the adjacent EPC786. Correlation of individual seams is not possible at this stage; however the seams are interpreted to occur at roughly the same stratigraphic level as those at Freitag Creek within upper units of the Bandanna Formation. For personal use only Reconnaissance geological programs also indicated that while Tertiary basalt flows are extensive within portions of the project area, detailed mapping will determine the full extent of the basalt flows and alluvium, and be integral to optimizing Bowens drill targets and to minimize drilling costs. This discovery is regarded by company geologists as significant as it reinforces the prospectivity of the under-explored Springsure Shelf and validates the exploration strategy of Bowen Energy. These results also confirm the potential of the region to host a shallow deposit which is amenable to open cut coal mining techniques. Geological interpretation undertaken by Bowen Energy indicates that the same prospective and continuous stratigraphy extends throughout EPC1002 with significantly less structural complexity with consistently shallower dips. Government mapping indicates units with dips of 1-3 degrees are common. EPCA1187 consolidates Bowens’ ground position on the down dip extension of the prospective stratigraphy. Bowen Energy is embarking upon detailed mapping campaigns and exploratory drilling of the highly prospective Bandanna Formation with planning for drilling in the final quarter of 2007 or 1st quart of 2008 well advanced. Bowen energy is currently in discussions with a number of drilling companies. Tarong Project EPCA 1083 100% (215 sub-blocks) Cooyar No work has been performed over this application. The Queensland department of Mines and energy have advised Bowen Energy that this lease has progressed to public notification stage prior to grant. The Cooyar application was lodged to allow BEL to explore for thermal coal associated with coal seams of the Tarong Basin, and in the overlying Walloon CM of the Surat Basin. These units are interpreted to overlay the Triassic Tarong basin to the south. EPC application 1083 (Cooyar) consists of 215 sub blocks covering approximately 530 square km over parts of the Tarong, Surat and Clarence-Morton Basins in SE QLD Cape River Project EPCA 1120 100% (300 sub-blocks) Cape River No work has been performed over this application. The Queensland department of Mines and energy have advised Bowen Energy that this lease has progressed to public notification stage prior to grant. Bowen Energy applied for 300 sub blocks covering the Cape River Project area, 70km south-east of Pentland in North Queensland. This area represents an under explored region which potentially hosts Permian sub-basins concealed below thin Tertiary and Palaeozoic cover (units of the Campaspe and Suttor Formations). Such sub-basins are prospective for significant thermal coal resources similar to those of the Wolfang and Blair Athol sub-basins located further to the south near Clermont. Glen Isla Project EPM 14910 100% (100 sub-blocks) Glen Isla EPM (Exploration Permit Minerals) consists of 11 sub blocks (36 sq kms) 10 kms north east of Quamby (45 kms from Cloncurry) in north western Queensland (The Mt Isa Block). For personal use only Exploration Permit Minerals (EPM) 14910 was acquired in order to explore for uranium deposits in sedimentary palaeochannel environments and Ernest Henry style hydrothermal-iron oxide-copper-gold deposits. The tenement lies adjacent to the eastern margin of the Mt Isa Block. The Ernest Henry Mine with original resources of some 167Mt @ 1.1% Cu, 0.5 g/t Au is located only some 25 kilometres south- easterly from EPM14910 (Figure 2). In the previous quarter a concise analysis of aero-magnetic and gravity data delineated two target zones that had similar trends to the paleochannels detected by MINAD. A similar target to the northwest was also thought to be prospective. After rain delays a drilling program of 56 aircore holes was undertaken (Table 2). The boreholes were drilled to basement refusal. A field spectrometer was used to identify radioactive nuclide values above background and provide assay spectrum analysis.
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