Energy Ventures : 27 February 2015 - Company Update

ABN 89 106 523 611

Suite 1

245 Churchill Ave

Subiaco WA 6008

PO Box 162

Subiaco WA 6904

27 February 2015
The Manager
ASX Market Announcements
ASX Limited
Exchange Centre, 20 Bridge Street
SYDNEY NSW 2000

via electronic lodgement

C o m pa n y U pd a t e

Energy Ventures Limited ("EVE" or "the Company"), through its wholly owned subsidiary Oregon Energy LLC, has entered into a conditional Purchase Agreement with Uranium Standard Resources Limited ("USR"), a company listed on the TSX Venture Exchange, for a sale of a 100% interest in the Aurora Uranium Project ("Aurora"). USR has 45 days to evaluate Aurora and will pay a non-refundable cash deposit of US$25,000 for the right.
The agreement is to comprise the following key terms;

• A non-refundable cash payment of US$25,000 to be paid by USR immediately upon TSX Venture Exchange approval of the Purchase Agreement;

• A further cash payment of US$1,491,000 to be paid by USR within 90 calendar days of the execution of the

Agreement;

• 500,000 common shares in USR;

• 500,000 warrants in USR, each entitling the holder to purchase one common share of USR at a price of

$0.20 CAD/warrant for a twelve-month period;

• A net smelter royalty of 2% of gross revenue from the production of uranium from Aurora, due and payable only upon commercial production ("NSR"). The NSR can be repurchased from the Company by USR, for consideration of US$1,000,000 for every 1% of NSR, within 5 years of execution of the Agreement.

• The transfer of a 100% interest in the 116 claims that make up the Aurora Uranium Project and all data held by the Company for the project.

The agreement is also subject to any necessary regulatory approvals of both the ASX and TSX.

distributed by