KEY UPCOMING FUEL DEVELOPMENT MILESTONES

Over the coming months, Lightbridge will be focusing its fuel development efforts in the following key areas:

A. Fuel technology development and demonstration activities:

• Completion of an extensive analysis by INL of Lightbridge thorium-based seed and blanket nuclear fuel technology (2012)
• Begin negotiations with Rosatom entities for fuel development activities in Russia. Completion of the preliminary experiment design for irradiation testing of the Lightbridge-designed metallic fuel samples in the Advanced Test Reactor at Idaho National Laboratory (2012)
• Complete negotiations with a US fuel fabrication development partner relating to metal fuel fabrication process development and demonstration work in the United States (2012)

B. Expansion of intellectual property portfolio:

• Receive official notification of patent application examination in Europe, the US and other key countries for our previously filed patent applications based on our 2007 PCT application that covers our thorium-based seed and blanket fuel assembly design for Russian-type VVER-1000 reactors (2012)

C. Presentation at industry conferences and technical publications:

• Lightbridge will continue to participate in industry meetings and conferences. Further technical publications about our various fuel products will be announced upon their publication.