31 January 2023                    

Quarterly Report for the Period Ending 31 December 2022

KEY POINTS:

·    Completion of the Tiris Project's 11,600-metre infill drilling program, which has been undertaken to increase the percentage of the 56 Mlbs U₃O₈ to Measured or Indicated status.

·    Australian Nuclear Science and Technology Organisation (ANSTO) Minerals confirmed that the yellowcake product from the Tiris Uranium Project in Mauritania meets ASTM International specifications.

·    Continued to progress the Tiris Project optimised feasibility study targeting a 3 Mlbs U₃O₈ on target for completion in Q1 2023.

·    Commenced the Front-End Engineering Design of the Tiris Project.

·    Swedish election held with the new government committing to energy security. The Häggån project development provides a long-term secure domestic energy supply.

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