JORC Resource Summary
| Total Resources | Elevate Uranium Share | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Deposit | Category | Cut-off (ppm U3O8) | Tonnes (M) | U3O8 (ppm) | U3O8 (Mlb) | Elevate Holding | Tonnes (M) | U3O8 (ppm) | U3O8 (Mlb) | |
| Namibia | ||||||||||
| Koppies | ||||||||||
| Koppies I | JORC 2012 | Inferred | 100 | 10.3 | 278 | 6.2 | ||||
| Koppies II | JORC 2012 | Inferred | 100 | 60 | 217 | 28.7 | ||||
| Koppies III | JORC 2012 | Inferred | 100 | 50.3 | 161 | 17.9 | ||||
| Koppies IV | JORC 2012 | Inferred | 100 | 14.1 | 160 | 5.0 | ||||
| Koppies Total | JORC 2012 | Inferred | 100 | 134.7 | 195 | 57.8 | 100% | 134.7 | 195 | 57.8 |
| Marenica | JORC 2004 | Indicated | 50 | 26.5 | 110 | 6.4 | 75% | 19.9 | 110 | 4.8 |
| Inferred | 50 | 249.6 | 92 | 50.9 | 75% | 187.2 | 92 | 38.2 | ||
| MA7 | JORC 2004 | Inferred | 50 | 22.8 | 81 | 4.0 | 75% | 17.1 | 81 | 3.0 |
| Marenica Uranium Project Total | 298.9 | 93 | 61.3 | 224.2 | 93 | 46 | ||||
| Namibia Total | 433.6 | 125 | 119.1 | 358.9 | 131 | 103.8 | ||||
| Australia | ||||||||||
| Australia - 100% Holding | ||||||||||
| Angela | JORC 2012 | Inferred | 300 | 10.7 | 1,310 | 30.8 | 100% | 10.7 | 1,310 | 30.8 |
| Thatcher Soak | JORC 2012 | Inferred | 150 | 11.6 | 425 | 10.9 | 100% | 11.6 | 425 | 10.9 |
| 100% Held Resource Total | 22.3 | 850 | 41.7 | 100% | 22.3 | 850 | 41.7 | |||
| Australia - Joint Venture Holding | ||||||||||
| Bigrlyi Deposit | Indicated | 500 | 4.7 | 1,366 | 14.0 | |||||
| Inferred | 500 | 2.8 | 1,144 | 7.1 | ||||||
| Bigrlyi Total | JORC 2004 | Total | 500 | 7.5 | 1,283 | 21.1 | 20.82% | 1.55 | 1,283 | 4.39 |
| Walbiri Joint Venture | ||||||||||
| Joint Venture | Inferred | 200 | 5.1 | 636 | 7.1 | 22.88% | 1.16 | 636 | 1.63 | |
| 100% EME | Inferred | 200 | 5.9 | 646 | 8.4 | |||||
| Walbiri Total | JORC 2012 | Total | 200 | 11.0 | 641 | 15.5 | ||||
| Bigrlyi Joint Venture | ||||||||||
| Sundberg | JORC 2012 | Inferred | 200 | 1.01 | 259 | 0.57 | ||||
| Hill One Joint Venture | JORC 2012 | Inferred | 200 | 0.26 | 281 | 0.16 | 20.82% | 0.21 | 259 | 0.12 |
| Hill One EME | JORC 2012 | Inferred | 200 | 0.24 | 371 | 0.19 | 20.82% | 0.05 | 281 | 0.03 |
| Karins | JORC 2012 | Inferred | 200 | 1.24 | 556 | 1.52 | 20.82% | 0.26 | 556 | 0.32 |
| Malawiri Joint Venture | JORC 2012 | Inferred | 100 | 0.42 | 1,288 | 1.20 | 23.97% | 0.10 | 1,288 | 0.29 |
| Joint Venture Resource Total | 21.6 | 847 | 40.2 | 3.34 | 923 | 6.77 | ||||
| Australia Total | 43.9 | 848 | 81.9 | 25.6 | 859 | 48.4 | ||||
| TOTAL | 152.2 | |||||||||
Koppies Uranium Project:
The Company confirms that the Mineral Resource Estimates for the Koppies 1, Koppies 2, Koppies 3 and Koppies 4 deposits were changed as detailed in the announcement titled “Koppies Resource Expands to 57.8 Mlb”, dated 9 April 2024.
Marenica Uranium Project:
The Company confirms that the Mineral Resource Estimates for the Marenica and MA7 deposits have not changed since the annual review disclosed in the 2023 Annual Report. The Company is not aware of any new information, or data, that effects the information in the 2023 Annual Report and confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Mineral Resource Estimates for the Marenica and MA7 deposits were prepared in accordance with the requirements of the JORC Code 2004. They have not been updated since to comply with the 2012 Edition of the Australian Code for the Reporting of Exploration Results, Minerals Resources and Ore Reserves (“JORC Code 2012”) on the basis that the information has not materially changed since they were last reported. A Competent Person has not undertaken sufficient work to classify the estimate of the Mineral Resource in accordance with the JORC Code 2012; it is possible that following evaluation and/or further exploration work the currently reported estimate may materially change and hence will need to be reported afresh under and in accordance with the JORC Code 2012.
Australian Uranium Projects:
The Company confirms that the Mineral Resource Estimates for Angela, Thatcher Soak, Bigrlyi, Sundberg, Hill One, Karins, Walbiri and Malawiri have not changed since the annual review disclosed in the 2023 Annual Report. The Company is not aware of any new information, or data, that effects the information in the 2023 Annual Report and confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Mineral Resource Estimate for the Bigrlyi deposit was prepared in accordance with the requirements of the JORC Code 2004. The Mineral Resource Estimate was prepared and first disclosed under the 2004 Edition of the Australian Code for the Reporting of Exploration Results, Minerals Resources and Ore Reserves (“JORC Code 2004”). It has not been updated since to comply with the 2012 Edition of the Australian Code for the Reporting of Exploration Results, Minerals Resources and Ore Reserves (“JORC Code 2012”) on the basis that the information has not materially changed since it was last reported. A Competent Person has not undertaken sufficient work to classify the estimate of the Mineral Resource in accordance with the JORC Code 2012; it is possible that following evaluation and/or further exploration work the currently reported estimate may materially change and hence will need to be reported afresh under and in accordance with the JORC Code 2012.