Red Hill Energy

Red Hill Energy (formerly UGL Enterprises) is a Canadian-based mineral exploration company controlling 19 properties in Mongolia with a focus on the energy commodities uranium and coal, and diversification into gold and copper. The company has $3.6 million current working capital and has raised over $8 million since 2003. Red Hill entered into a uranium joint venture with Mega Uranium (TSX:MGA) (formerly Maple Minerals) on July 12, 2005, wherein Mega can earn up to a 60 % interest in UGL's portfolio of uranium properties through expenditure of U.S.$ 3.5 million over a six-year period.