Toro Energy Limited (ASX:TOE) Closes Deal to Acquire Key Uranium Tenements Adjacent to Flagship Wiluna Uranium Project, Western Australia

Perth, Sep 23, 2011 AEST (ABN Newswire) - Toro Energy Limited (ASX:TOE) are pleased to announce the execution of comprehensive legal documentation with MPI which sets out the commercial and legal framework for the purchase of certain mining tenements adjacent to the Centipede deposit at Toro's Wiluna Uranium Project in Western Australia. Details of this transaction were announced in ASX release dated 17 February 2011.

Toro has purchased the mining tenements and associated database from MPI, while MPI has retained the rights to all non-uranium minerals (other than as a by-product of uranium mining of co-mingled ores).

One of the tenements (M53/336) is held in Joint Venture between MPI and Barrack Mines Pty Ltd ("Barrack" a wholly owned subsidiary of Grange Resources Ltd (ASX:GRR)) with Barrack holding 10% equity. Toro has concluded the acquisition of this 10% interest in M53/336 on the same terms on a pro-rata basis.

Toro is currently working on a JORC Resource update for the Wiluna Project and it is expected that Millipede will constitute a portion of the revised consolidated resource when it is released at the end of this month.

Contact

Greg Hall Managing Director Tel: +61-8-8132-5600