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Successful results in SILEX Uranium Program

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    SILEX SYSTEMS LIMITED 2002-10-21 ASX-SIGNAL-G

    HOMEX - Sydney

    +++++++++++++++++++++++++
    Silex is pleased to announce the successful completion of the
    preliminary series of "Direct Measurement" tests in its Uranium
    Enrichment Program. The results of the tests were conclusive,
    demonstrating macroscopic scale enrichment with the SILEX Process.
    The Direct Measurement tests are an important step in the development
    of the Process because, for the first time, small samples of enriched
    product were collected, extracted from the test facility and then
    fully analysed.

    "This is a momentous step forward for the SILEX Technology" Dr
    Michael Goldsworthy, Silex CEO, said today. "It is a complete
    demonstration of process viability for the first time, eliminating
    some of the technical uncertainties associated with product
    collection and extraction. It proves once and for all that the SILEX
    concept is a practical enrichment scheme"

    Dr Horst Struve, Silex Technical Director added: "We are elated by
    these results. Put simply we have shown the Process works, after more
    than a decade of tireless effort by a small but very dedicated team.
    We now look forward with confidence to the next stage of the
    development effort."

    The current tests were conducted in the recently commissioned Direct
    Measurement facility, operating at a fraction of its capabilities.
    The focus will now turn to optimizing and measuring process
    efficiency, requiring the facility to be ramped up to nearly full
    operating capability. Commercial plant cost estimates and projected
    economics will then be updated. This work is expected to be completed
    in the first half of 2003, and will contribute to the next Program
    Milestone decision by project partner USEC Inc. (Refer to ASX release
    dated 16/10/02 for milestone details).

    Further information on the Company's activities can be found on the
    Silex website: www.silex.com.au or by contacting the persons listed
    below.

    Contacts:

    Dr Michael Goldsworthy (02) 9532 1331
    Mr Chris Wilks (02) 9855 5555

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