Historical resource; development subject to lifting of mining moratorium

Moratorium on uranium mining in Virginia since 1982; permitting not possible until legislation changes.

Historical resource estimate

One of the largest undeveloped uranium deposits in the U.S.; development contingent on legislative change.

Virginia is a nuclear cornerstone state with deep infrastructure and a long mining legacy, but uranium mining is currently prohibited.

Historical resource estimate (NI 43-101, 2013).

Moratorium on uranium mining since 1982; permitting not possible until legislation changes.

Await potential legislative change to allow permitting and development.

Active exploration and resource expansion; current NI 43-101 resource

Exploration drilling, resource expansion

NI 43-101 resource estimate

World’s highest-grade published indicated uranium resource in Canada’s Athabasca Basin. Shallow depth (325m), no water cover, aggressive exploration ongoing.

Prime location in Athabasca Basin, proximity to McClean Lake Mill.

NI 43-101 resource estimate effective July 8, 2022.

Very high-grade mineralization (up to 52.1% U3O8); shallow depth; comparable to major Athabasca deposits.

2026 expanded winter drill program completed (6,800m in 17 holes); strong radioactivity intersected.

Assays pending, follow-up drilling planned for summer 2026.

Follow-up drilling for resource expansion; assays pending from 2026 program.

Significant expansion potential along Hurricane South Trend; mineralization intersected in step-out holes up to 540m along strike.

Historical resource; exploration/development project

Historical resource estimate

One of the highest grade historical indicated uranium resources outside of the Athabasca Basin.

Quebec ranks highly as a mining jurisdiction with significant past expenditures for uranium exploration.

Historical resource estimate (2012).

Historical resource; exploration/development project; uranium mining not currently permitted in Queensland

Mining lease not grantable under current Queensland policy

Historical resource estimate

Historical resource; uranium mining not currently permitted in Queensland.

Queensland is a major mining jurisdiction, but uranium mining is not currently permitted.

Historical resource estimate (2013).

Mining lease not grantable under current Queensland policy.

Cu, Au, REE

Permitted, past-producing, technical and economic studies underway, bulk sampling ongoing

Key state and federal operating permits in place

Technical and economic studies, bulk sampling

NI 43-101 resource estimate, Permitting, Past production

Permitted, past-producing mine with current NI 43-101 resource. Toll milling agreements in place. Bulk sampling and technical studies ongoing.

Current 43-101 mineral resource estimate.

Key state and federal operating permits in place, saving 3-5 years and US$1M+ per mine.

Beneficiation test work shows >90% uranium recovery; ore sorting and evaporation studies completed.

Toll milling agreements in place with White Mesa Mill.

Bulk sampling program underway; beneficiation and evaporation studies completed.

Bulk sampling, technical and economic studies, drilling at Flatiron.

Completion of bulk sampling and technical/economic studies; potential production decision.

JORC resource, scoping study completed, offtake partner in place

Japan Australia Uranium Pty, Itochu

Scoping Study/Updated MRE

JORC resource, Scoping study

Multiple near-surface deposits, central processing facility, offtake partner in place, scoping study completed.

Western Australia ranked 6th globally for investment attractiveness (2025 Fraser Institute).

JORC resource at 100ppm U3O8 cutoff (Sept 24, 2024).

Shallow carbonate deposits suitable for open-pit mining and alkaline leach processing.

Japan Australia Uranium Pty and Itochu hold right to acquire 35% interest in Lake Maitland for US$39.6M.

Significant expansion of stated resources at Lake Maitland and Wiluna Project.

Convert JORC Resource to NI 43-101 compliance, drilling for pilot plant, infill drilling, convert scoping study to PEA.