9 June 2023

Aura Energy Limited (ASX: AEE, AIM: AURA) ("Aura" or "the Company") would like to remind Eligible Shareholders that the offer to participate in the Company's Share Purchase Plan ("SPP") to raise a further A$1 million closes at 5pm AEST on Tuesday 13 June 2023.

This follows Aura's previous announcement (see ASX & AIM announcement dated 3 May 2023) confirming it had received firm commitments to raise A$10 million via the placement of approximately 54.05 million new fully paid ordinary shares ("New Shares") at an offer price of A$0.185 per New Share ("Placement").

1.        The JLMs and the Company reserve the right to vary these dates.

Share Purchase Plan (SPP) Details:

In conjunction with the Placement, the Company is offering eligible shareholders the opportunity to participate in a Share Purchase Plan ("SPP") on the same terms as the Placement to raise up to a further A$1 million, with approximately 5.4 million New Shares ("SPP Shares") available for issue.

The SPP will enable the Company's retail and existing shareholder base to participate in the growth of the Company on the same terms as the Placement.

The key terms of the SPP are as follows:

·    Up to $30,000 per eligible shareholder, across all of their holdings.

·    Further information regarding the SPP (including terms and conditions of the SPP) will be provided to eligible shareholders in an offer booklet, which will be made available to eligible shareholders shortly. Eligible shareholders wishing to participate in the SPP will need to apply in accordance with the instructions in the Prospectus.

·    Participation in the SPP is optional.

Eligible Shareholders can apply for Shares under the SPP in increments of $2,500 up to $30,000. Applications for SPP Shares under the SPP must be for a minimum of $2,500. On the basis of the issue price of SPP Shares available under the SPP, $2,500 will subscribe for 13,513 Shares and $30,000 will subscribe for 162,162 SPP Shares. Any fractional entitlement to SPP Shares under the SPP will be rounded down.

Shareholders who wish to discuss the SPP, or who have not received the offer documents, can contact Stevan Adzic (Peloton Shareholder Services), on +61 401 639 114 between 9 am to 5 pm (AEST), or email stevan.adzic@pelshare.com.au.

Authorised for lodgement by the Board of Aura Energy

For further information, please contact:

About Aura Energy (ASX: AEE, AIM: AURA)  

Aura Energy is an Australian-based minerals company that has major uranium and polymetallic projects with large resources in Africa and Europe. The Company is now focused on uranium production from the Tiris Project, a major greenfield uranium discovery in Mauritania.

A recent Enhanced Feasibility Study has increased the project NPV significantly which reconfirms Tiris as one of the lowest capex, lowest operating cost uranium projects that remain undeveloped in the world.

In October 2021, the Company entered a US$10m Offtake Financing Agreement with Curzon, which includes an additional up to US$10m facility, bringing the maximum available under the agreement to US$20m.

In 2023, Aura will continue to transition from a uranium explorer to a uranium producer, to capitalise on the rapidly growing demand for nuclear power as the world continues to shift towards a decarbonised energy sector.

Disclaimer Regarding Forward-Looking Statements 

This ASX announcement (Announcement) contains various forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are inherently subject to uncertainties in that they may be affected by a variety of known and unknown risks, variables and factors which could cause actual values or results, performance or achievements to differ materially from the expectations described in such forward-looking statements. The Company does not give any assurance that the anticipated results, performance or achievements expressed or implied in those forward-looking statements will be achieved. 

Mineral Resource and Ore Reserve Estimates 

The information in this announcement that relates to Mineral Resources or Ore Reserves is extracted from the reports titled 'Tiris Uranium Project - Resource Upgrade of 10%' released to the Australian Securities Exchange (ASX) on 27 August 2021 and 'Tiris Uranium Project DFS Update' released to the ASX on 18 August 2021 and for which Competent Persons' consents were obtained. Each Competent Person's consent remains in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX announcements and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the original ASX announcements continue to apply and have not materially changed. 

The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original ASX announcements. 

In respect to Resource statements, there is a low level of geological confidence associated with the inferred mineral resource and there is no certainty that further exploration work will result in the determination of indicated measured resource or that the production target will be realised.