ATOMIC EAGLE LTD — Regulatory Filings 2026

May 12, 2026

ASX Announcement

Atomic Eagle

13 May 2026

Drilling expands high-grade zone at Chisebuka target

Atomic Eagle Limited ('Atomic Eagle' or 'the Company') (ASX: AEU | OTCQB: AEUXF) is pleased to announce results from the first 15 drill holes (comprising 1,540 metres) completed as part of a 30,000-metre drilling program at its 100%-owned Muntanga Uranium Project ("Muntanga" or the "Project") in Zambia.

Highlights

• Current drilling is targeting resource expansion at the Chisebuka target. 13 of the first 15 holes have successfully intersected uranium mineralisation outside of the defined resource area.

• Chisebuka has an Inferred Mineral Resource of 19.9Mt at 220ppm $U_{3}O_{8}$ for 9.7Mlb contained $U_{3}O_{8}$.

• New results from the ongoing program include:

• 12.7m at 673ppm eU₃O₈ from 18.0m (CHDTH2193).
• 24.0m at 448ppm eU₃O₈ from 32.2m (CHDTH2192).
• 15.9m at 361ppm eU₃O₈ from 4.7m (CHDTH2192).
• 21.0m at 283ppm eU₃O₈ from 26.2m (CHDTH2194).
• 22.1m at 242ppm eU₃O₈ from 92.6m (CHDTH2200).

• 13.2m at 237ppm eU₃O₈ from 115.7m (CHDTH2200).

• Drilling has confirmed an expansion of Chisebuka's south-west (SW) zone of higher-grade mineralisation to a 600m x 300m area, which is now drilled to the density required for Mineral Resource estimation.

• Further results from Chisebuka drilling are expected in the coming weeks.
• Two drill rigs continue to operate whilst radiometric surveys are underway to refine the high-priority Namakande and Muntanga North targets, with drilling expected to follow later this quarter.

Atomic Eagle CEO Phil Hoskins said:

"Our 2026 goal of increasing Muntanga's Mineral Resource is off to a great start. These initial results from Chisebuka build directly on the Company's early success, which saw a 9.7Mlb uranium resource defined at Chisebuka in a matter of months.

Chisebuka's SW zone is now emerging as the next key addition with near-surface higher-grade results outside of the previous resource area and we've only scratched the surface of the planned holes into Chisebuka this year.

Drilling is continuing with two rigs aiming to expand the higher-grade zones at Chisebuka whilst at the same time, we are conducting ground radiometric surveys to refine the exciting Namakande and Muntanga North targets."

1 See ASX announcement dated 10 March 2026.

Atomic Eagle Limited | ASX:AEU | ABN: 20 108 958 274

Suite 4.01, 66 Kings Park Road, West Perth WA 6005

P: +61 8 6382 1805 E: info@atomiceagle.com.au W: atomiceagle.com.au

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2026 DRILL PROGRAM DETAILS

The Company is undertaking a 30,000m drill program over three separate target areas at Muntanga, including:

1) Continued exploration drilling at Chisebuka outside the existing Mineral Resource;
2) Wide-spaced drilling at the Namakande 1 and 2 exploration targets; and
3) Wide-spaced drilling at the Muntanga North exploration targets.

CHISEBUKA TARGET

Chisebuka is located in the southernmost tenement of the Company's large licence package. Chisebuka mineralisation has previously been defined by drilling over a 4km strike length and up to 1km wide. During 2025, the Company completed a 69-hole (7,235m) program to enable estimation of a maiden Mineral Resource. The north-eastern zone of Chisebuka measuring 800m x 600m was successfully converted into the maiden Chisebuka Mineral Resource Estimate of 19.9Mt at 220ppm U₃O₈ for 9.7 Mlbs of U₃O₈.

The 2026 drill program is expected to comprise approximately 120 holes, drilled vertically to intersect the true thickness of mineralisation. To date, 13 of the first 15 holes of the 2026 drill program have intersected uranium mineralisation and drilling has defined a new higher-grade zone of mineralisation in the southwest measuring 600m x 300m (Figure 2).

Figure 1 below shows the location of recently completed drill holes relative to previous drilling.

Figure 1: Chisebuka grade x thickness contour map showing location of 2026 drill holes

The mineralisation consists of a series of stacked lenses that extend from surface to depths of 150m in places and follows the sandstone bedding planes that dip shallowly to the south-east. The area shows several zones of extensional fractures that seem to have controlled mineralisation in the area. A number of cross-sections are shown in Figures 3 to 5 and the full set of results are included in Appendix 2.

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Figure 2: Chisebuka SW zone - grade x thickness contour map showing locations of 2026 holes with key intercepts

Figure 3 below is a long section showing continuity of the mineralisation in the SW higher-grade zone along strike from south-west to north-east.

Figure 3: SW-NE long section through Chisebuka SW zone

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ASX:AEU

www.atomiceagle.com.au

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Figure 4: Chisebuka cross-section Y-Y'

Figure 5: Chisebuka cross-section X-X'

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NEXT STEPS

Drilling at Chisebuka will continue as the Company seeks to expand the higher-grade and near-surface zones of mineralisation, with further results expected in the coming weeks.

Ground radiometric surveys have commenced at Namakande and Muntanga North to further refine the radiometric anomalies (as previously defined by airborne surveys). Both these targets exhibit similar geophysical and geochemical signatures to areas of known uranium mineralisation across the Company's licence area, with drilling expected to commence later this quarter.

Technical Note – Grade Determination

Uranium grade can be measured indirectly by measuring the radioactivity emitted by the daughter products of uranium during decay, using a gamma tool containing a sodium iodide (NaI) crystal, which records counts per second when hit by gamma rays. These counts are converted to uranium grade (ppm eU3O8) by applying a K factor, a dead time correction and other correction factors as required such as casing, hole size, mud density. The K factor and the dead time is unique to each tool and is determined during calibration.

The gamma tool used by Atomic Eagle has been calibrated at the Grand Junction calibration pits by Mt Sopris prior to arrival on site and the tool was run weekly in a lined test hole to test repeatability. Furthermore, the results from the Atomic Eagle logging tool were compared with results from logging contractors Terratec, who logged most of the holes during the last 4 years, and a further calibration factor was applied to the company's gamma results to be consistent with older data. RC and diamond drill holes will be drilled in future drill programs and the gamma tool will be verified against the assay data to confirm the results.

Competent Person's Statement – Exploration Results and Mineral Resource Estimate

The information in this announcement relating to Exploration Results and the Mineral Resource Estimate, is based on information compiled and supervised by Mr Harry Mustard, who is a Member of the Australian Institute of Geoscientists. Mr Mustard is a geologist with over 40 years of experience in mineral exploration and mining, including 8 years working on sediment-hosted and granite-related uranium deposits in Asia and Africa. He is a consultant to Atomic Eagle. Mr Mustard has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the exploration activity being undertaken to qualify as a Competent Person as defined in the JORC Code (2012 Edition). Mr Mustard consents to the inclusion in this announcement of the matters based on their information in the form and context in which it appears.

Atomic Eagle confirms that it is not aware of any new information or data that materially affects the information included in the original report and that all material assumptions and technical parameters underpinning the previously announced Mineral Resource Estimate for the Muntanga Uranium Project continue to apply and have not materially changed. Atomic Eagle confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original report and that the Competent Person's consent remains in place for subsequent releases by Atomic Eagle of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report or accompanying consent.

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Approved for release by the Board of Atomic Eagle Limited.

For further information, please contact:

Phil Hoskins
Chief Executive Officer
Atomic Eagle Limited
E: info@atomiceagle.com.au
P: +61 8 6382 1805

Nathan Ryan
Investor and Media Relations
NWR Communications
E: Nathan.ryan@nwrcommunications.com.au
P: +61 420 582 887

About Atomic Eagle

Atomic Eagle Limited (ASX: AEU) is an ASX-listed mineral resource company focused on exploration and development of uranium assets in Africa, with the 100%-owned district-scale Muntanga Uranium Project in Zambia as its core asset. The Muntanga Project area spans four mining licences and two exploration licences over a 146km strike length covering 1,136km², adjacent to Lake Kariba. The Muntanga Uranium Project contains a Measured and Indicated Resource of 50.4Mt @ 359ppm U₃O₈ for a total of 40.0 Mlbs U₃O₈ and an Inferred Resource of 35.8Mt @ 238ppm U₃O₈ for a total of 18.8 Mlbs U₃O₈ to deliver a combined total of 58.8Mlb U₃O₈ at 309ppm.

Muntanga benefits from excellent infrastructure, being located near the town of Chirundu close to the Zimbabwe border, with sealed road access to Chirundu, Siavonga and Lusaka (the capital). This network gives the project easy access to Lusaka's international airport and to Namibia's port of Walvis Bay via Livingstone (about 560km west) providing export routes to both western and eastern markets.

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Page 7 of 15

APPENDIX 1: DRILL HOLE LOCATIONS

Collar ID	East (mE)	North (mN)	RL (mASL)	DIP (°)	AZI (°)	DEPTH (m)
CHDTH2190	606529	8159405	647	-90	0	100
CHDTH2191	606340	8159376	655	-90	0	100
CHDTH2192	606683	8159480	655	-90	0	100
CHDTH2193	606647	8159550	669	-90	0	100
CHDTH2194	606492	8159501	673	-90	0	110
CHDTH2195	606735	8159384	640	-90	0	100
CHDTH2196	606385	8159300	644	-90	0	100
CHDTH2197	606570	8159320	627	-90	0	100
CHDTH2198	606279	8159471	693	-90	0	100
CHDTH2199	606898	8159596	648	-90	0	100
CHDTH2200	606385	8159504	682	-90	0	130
CHDTH2201	606546	8159556	687	-90	0	100
CHDTH2202	606419	8159590	701	-90	0	100
CHDTH2203	606591	8159653	695	-90	0	100
CHDTH2204	606422	8159217	624	-90	0	100

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APPENDIX 2: SIGNIFICANT DRILL INTERCEPTS

Hole ID	From (m)	To (m)	Interval (m)	Grade (eU₃O₅ppm)
CHDTH2190	49.4	59.15	9.75	220.8
CHDTH2190	67.35	69.8	2.45	173.6
CHDTH2190	72.95	81.7	8.75	270.9
CHDTH2191	1.6	3.65	2.05	128.0
CHDTH2191	5.9	9.05	3.15	103.5
CHDTH2191	18.05	29.1	11.05	156.5
CHDTH2191	30.7	36.65	5.95	235.5
CHDTH2191	38.35	44.2	5.85	154.4
CHDTH2191	46.55	68.3	21.75	282.5
CHDTH2191	73.35	77	3.65	319.1
CHDTH2192	4.7	20.55	15.85	360.6
CHDTH2192	32.25	56.25	24.0	447.8
CHDTH2192	57.6	62.7	5.1	192.3
CHDTH2192	82.65	85.55	2.9	165.0
CHDTH2193	11.3	13.35	2.05	117.2
CHDTH2193	18.1	30.75	12.65	673.0
CHDTH2193	39.75	41.8	2.05	112.8
CHDTH2193	47.95	50.5	2.55	150.6
CHDTH2193	74.5	78.4	3.9	107.0
CHDTH2193	79.65	83.55	3.9	189.8
CHDTH2194	20.7	24.15	3.45	352.6
CHDTH2194	26.2	47.15	20.95	282.6
CHDTH2194	48.9	58.45	9.55	183.1
CHDTH2194	60	64.8	4.8	130.0
CHDTH2194	73.7	84.7	11.0	177.2
CHDTH2194	85.85	90.35	4.5	229.2
CHDTH2194	92.5	105.3	12.8	199.4
CHDTH2195	61.05	67.1	6.05	291.0
CHDTH2196	44.95	48	3.05	299.1
CHDTH2197	83.95	86.05	2.1	236.0
CHDTH2197	87.75	90	2.25	163.2
CHDTH2197	91.65	94.05	2.4	157.7
CHDTH2198	77.15	98.1	20.95	203.2
CHDTH2199	No significant Intercepts
CHDTH2200	2.95	5.85	2.9	122.6
CHDTH2200	48.35	51	2.65	161.7
CHDTH2200	92.6	114.65	22.05	242.4
CHDTH2200	115.7	128.95	13.25	237.2
CHDTH2201	28.95	33.45	4.5	183.6
CHDTH2201	68.15	71.35	3.2	191.5
CHDTH2201	91.35	97.05	5.7	152.5
CHDTH2202	No significant Intercepts
CHDTH2203	27.35	29.95	2.6	156.8
CHDTH2203	33.35	35.9	2.55	296.1
CHDTH2203	41.7	46.65	4.95	144.7
CHDTH2204	73.05	76.05	3.0	214.1

• eU₃O₅ intercepts calculated from down hole gamma survey data using 100ppm cut-off, minimum width 2m with max 1m internal dilution

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JORC Code, 2012 Edition – Table 1 Chisebuka

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
• Aspects of the determination of mineralisation that are Material to the Public Report.
• In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	• At Chisebuka, the primary method of grade determination was through gamma logging for equivalent uranium (eU3O8) using a Mt Sopris natural gamma sonde equipped with a Sodium Iodide crystal. The sonde is new and was only used for the data collection the past year and was calibrated at the Grand Junction calibration facility (Colorado) in 2024 by the supplier prior to delivery.
• Readings were obtained at 1cm intervals downhole.
• Gamma readings provide an estimate of uranium grade in a volume extending approximately 40 cm from the hole and thus provide much greater representivity than laboratory assays using core or chip samples.
• Chemical assays will be used to check for correlation with gamma probe grades.
Drilling techniques	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	• Open hole hammer (DTH) (diameter of 150mm) was the main drilling technique used, no samples were collected for assay as the quality of the samples is not considered representative. All holes were logged using a gamma sonde.
• All holes were surveyed using a Mt Sopris QL40-DEV tool to define the inclination and drift of holes.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed.
• Measures taken to maximise sample recovery and ensure representative nature of the samples.
• Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• No core or drill chips were collected for sampling as the uranium grades are determined from down hole gamma log data.
• The lenses of uranium mineralisation at Chisebuka dip approximately 15°, it is assumed that intercepts are close to true width.
• No bias applies
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate	• Drill chip samples from the DTH drilling were laid out in piles next to the rigs for geological logging. They were logged for lithology, grain

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Criteria	JORC Code explanation	Commentary
	Mineral Resource estimation, mining studies and metallurgical studies.
• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
• The total length and percentage of the relevant intersections logged.	size, alteration, and colour. Representative samples were collected in chip trays for eventual relogging if required and storage at the Muntanga Camp core yard.
• Down-hole geophysical logging was conducted to measure the electrical properties of the rock from which lithologic information can be derived and natural gamma radiation, from which an indirect estimate of uranium content can be made. The down-hole geophysical probes measure the following parameters: conductivity, resistivity, self-potential, single point resistance, deviation and natural gamma.
• Down-hole gamma data collected by Atomic Eagle were converted into eU3O8 using the ALT Wellcad software. The final data were converted to a .csv format files for input into the master drill hole database.
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken.
• If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.
• For all sample types, the nature, quality and appropriateness of the sample preparation technique.
• Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.
• Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.
• Whether sample sizes are appropriate to the grain size of the material being sampled.	• No subsampling occurred at Chisebuka due to the drilling technique and sampling methods used.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
• For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
• Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	• The gamma probe is run weekly in a test hole to check for consistency, and re-logging of holes is also done on a routine basis.
• The gamma tool used is run to facilitate conversion of down-hole radiometric probe data into equivalent uranium eU3O8.P To enable conversion raw probe data must be adjusted to account for gamma signature attenuation associated with the logging environment, such as the size of the drill hole, fluid presence within the drill hole, casing/steel parameters and probe correction factors.
A project wide Radiometric – Grade conversion factor was developed by GoviEx during their 2021 to 2023 drilling campaigns. The conversion factor was made by comparing geochemical sample assays from 254 mineralised intervals to corresponding probe data.

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Criteria	JORC Code explanation	Commentary
		Chemical assays will also be used to check for correlation with gamma probe grades at Chisebuka.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel.
• The use of twinned holes.
• Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
• Discuss any adjustment to assay data.	• Significant intersections are reviewed internally.
• All geological logs and geophysical data is held on MX deposit database.
• The total gamma data is corrected for local conditions by comparing them with assay data and establish a radiometric-grade correlation which is made to use for mineral resource estimation purposes.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
• Specification of the grid system used.
• Quality and adequacy of topographic control.	• Collar positions were initially located using a handheld GPS and will be surveyed by a licensed surveyor at the end of the program using a real-time differential GPS
• The projection used is UTM WGS84 Zone35South
Data spacing and distribution	• Data spacing for reporting of Exploration Results.
• Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
• Whether sample compositing has been applied.	• The drill hole spacing is along lines spaced 100m apart with holes drilled at 100m intervals along the lines
• No sample compositing has been applied.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
• If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	• All holes are drilled vertically, with the mineralisation slightly dipping to the SE by 15 to 25 degrees at Chisebuka
• All drill intercepts are close to perpendicular to the orientation of the mineralisation and are considered to be true width.
Sample security	• The measures taken to ensure sample security.	• The bulk of the assay data is produced on-site using a gamma logging probe in a digital form and stored on secure, company computers.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• There has been no independent review of the sampling techniques and data at this stage. Calibration of the tool was done by Mt Sopris prior to delivery to site.

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Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
• The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	• The Kariba Valley licence (38555-HQ-LML) was granted in 2025 for a period of 25 years and is valid until 8th January 2050, after which it can be renewed. It is 100% owned by Muchinga Energy Resources Limited, a subsidiary company of Atomic Eagle Limited.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• The main period of exploration at Chisebuka took place between the late 1970s and mid 1980s initially by the Geological Survey of Zambia (“GSZ”), followed by AGIP SpA (“AGIP”), an Italian petroleum company. The AGIP exploration campaign included a regional ground radiometric surveying program which highlighted numerous radiometric anomalies along the northern shores of Lake Kariba including Dibbwi and Chisebuka. Several of the anomalies were investigated via more detailed ground radiometric surveying and subsequent drilling. Their campaign predominantly focused on the Muntanga and Dibbwi deposits.
• African Energy Resources carried out radiometric surveys, mapping and drilling in 2006 to 2012, based on the previous work carried out by AGIP in the 1980’s.

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Criteria	JORC Code explanation	Commentary
Geology	• Deposit type, geological setting and style of mineralisation.	• The Project area is situated within the Karoo Supergroup, which comprises thick, carboniferous to late Triassic age, terrestrial sedimentary strata and is widespread across much of what is now southern Africa.
• The Karoo Supergroup in the Project area consists of three formations within the Lower Karoo; the Siankondobo Sandstone Formation, overlain by the Gwembe Coal Formation, which itself is overlain by the Madumabisa Mudstone Formation. The Madumabisa Formation is unconformably overlain by the Upper Karoo which consists of four formations; the Escarpment Grit is overlain by the Interbedded Sandstone and Mudstone Formation, followed by Red Sandstone which is finally capped by the Jurassic Bakota Basalt Formation.
• The Project is situated in the mid-Zambezi Rift Valley. In the region, known uranium mineralisation typically occurs within the Upper Karoo. At the Project, all the known uranium mineralisation occurs within the Escarpment Grit. The underlying Madumabisa Mudstone appears to have acted as an impermeable barrier, focussing uranium mineralisation to the overlying Escarpment Grit.
• At Muntanga, Dibbwi and Dibbwi East, uranium mineralisation appears to be later than at least some of the normal faults which cut the Escarpment Grit Formation. This is evident from the good correlation of the radiometric logging data between adjacent holes within the Muntanga deposit separated by interpreted faulting.
• The source of the uranium is believed to be the surrounding Proterozoic gneisses and plutonic basement rocks. Having been weathered from these rocks, the uranium was dissolved, transported in solution and precipitated under reducing conditions in siltstones and sandstones. Post-lithification fluctuations in the groundwater table caused dissolution, mobilisation and redeposition of uranium in reducing, often clay- rich zones and along fractures.
• The Chisebuka deposit is hosted within the Braided Facies unit of the Escarpment Grit Formation of the Upper Karoo supergroup, within the mid Zambezi valley. These are Cretaceous aged sandstones, that dip shallowly to the southeast. Normal faulting appears to have had a significant effect on the location of mineralisation.
Drill hole Information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:	• Drill collar information is provided in Appendix 1

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Criteria	JORC Code explanation	Commentary
	• easting and northing of the drill hole collar
• elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar
• dip and azimuth of the hole
• down hole length and interception depth
• hole length.
• If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.
• Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
• The assumptions used for any reporting of metal equivalent values should be clearly stated.	• See Appendix 2 for a list of significant intercepts. Intercepts were calculated using the following parameters: U3O8 at minimum width of 2m, internal dilution up to 1m with a minimum grade of final composite of 100ppm U3O8.
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results.
• If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
• If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	• Drill hole orientations were mostly vertical as the dip angle of mineralisation is generally shallow dipping, between 15 to 20°
• Its assumed that all downhole intercepts reported are close to true width.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	• Appropriate diagrams and sections have been provided in the attached press release.
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	• All intercepts are calculated based on minimum width of 2m, internal dilution up to 01m waste with a minimum grade of final composite of 100ppm U3O8.

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Criteria	JORC Code explanation	Commentary
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	• None has been done at this stage of the program.
Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).
• Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• Results from the drilling will be used to determine follow up drilling locations to close up the drill spacing and eventually prepare a mineral resource estimate.