US1 CRITICAL MINERALS LIMITED — Capital/Financing Update 2022

Mar 10, 2022

ASX Announcement 11 March 2022

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GLADIATOR APPOINTS MSA GROUP TO ACCELERATE URANIUM PROJECTS

HIGHLIGHTS

• Specialist mining team appointed to progress Tanzanian Uranium projects

• Exploration program being finalised for Southern projects

• Updated mineral resource estimate for flagship Mkuju Uranium project to commence

Gladiator Resources Ltd (ASX: GLA) ( Gladiator or the Company ) is pleased to announce that its wholly owned Tanzanian subsidiary Zeus Resources (T) Ltd. ( Zeus ) (subject to regulatory approval) has appointed The MSA Group ( MSA ) to assist it with progressing its Tanzanian Uranium projects. MSA is an internationally recognised independent consulting company based in South Africa which has executed projects in over 50 countries. MSA has provided services to the global exploration and mining industry including major, mid-tier and junior mining companies globally for more than 35 years.

Gladiator Resources Chairman Ian Hastings commented:

“The Company is pleased to see that Zeus is aggressively progressing its Uranium projects in Tanzania with the appointment of the MSA Group, whilst awaiting final regulatory approvals. MSA will oversee the exploration planning and commence a review aimed at updating the Mineral Resource Estimate for the Likuyu deposit. The Company believes that its southern Uranium projects have exciting potential and the appointment of MSA brings the expertise to fast track resource estimation and to significantly progress the exploration process.”

The MSA Group

The MSA Group was established in 1983 and is a specialist consulting company providing technical input into international projects in the resource, financial, infrastructure and development sectors. MSA have worked across multiple sectors on all commodities and in diverse environments on five continents for some of the largest multinational companies, listed juniors and private investors. MSA have worked in over 30 countries in Africa and have firsthand knowledge of the African continent and environment. MSA is ISO 9001:2015 certified.

MSA has been appointed to update the previous (pre JORC 2012) Mineral Resource Estimate for the Likuku North deposit at the Company’s flagship Mkuju Uranium project in Southern Tanzania with an objective of updating it to ensure compliance with JORC 2012 guidelines. MSA will also design and oversee proposed exploration programs which are expected to start at the end of the wet season. This is an important part of the Company’s plans for 2022 with Mkuju representing the Company’s focus for the balance of this year.

Mkuju – (Uranium) 100% Gladiator

Mkuju tenements cover 678.73km[2] in southern Tanzania and at the closest point are approximately 30km from Uranium One’s Mkuju River Project (67 Mlb U3O8 Proved and Probable Reserves – see Uranium One release 31 December 2016). The Mkuju tenements were previously owned by Uranex Limited, Western Metals and Mantra Resources with arrangements being made to acquire historical data. The project includes the Likuyu North deposit and uranium anomalies of Grand Central, Likuyu South and Likuyu North which require further exploration.

Gladiator Resources Ltd. | www.gladiatorresources.net | ASX: GLA

4/91 William Street | Melbourne VIC | T: +61 3 8611 5333

ASX Announcement 11 March 2022

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Figure 1. Map of the Mukuju Project area showing airborne radiometric data and numerous targets including Likuyu North

The geological setting and uranium mineralisation at the Likuyu North deposit is interpreted to be similar to the Nyota deposit of the Mkuju River Project. Mineralisation is related to extensive redox fronts within the braided channel sequences of the Lower Mkuju Series sandstone sediments as well as structures. The mineralisation forms dipping stacked tabular layers, each layer between 1 and 8 m thick and hundreds of metres in extent.

As previously announced on 8 November 2021, the Company has reviewed data which was acquired from previous owners and originally compiled by Uranex following drilling by various parties including Tandrill and Wallis Drilling.

Historical high grade U3O8 drilling intercepts from the Likuyu North deposit include the below. These results are from aircore or diamond core drilled holes and are either laboratory assay or from downhole gamma-ray logging.

• MKDD0009: 10.5m @ 1124ppm from74.5m downhole, including 2m @ 2135ppm

• LNAC0085: 10m @ 1779ppm from 64m downhole, including 5m @ 3193ppm and 2m @ 5124ppm

• LNAC0128: 4m @ 1075ppm from 47m downhole, including 1m @ 2575ppm

• MKDD0003: 2m @ 1244ppm from 54m downhole, including 0.5m @ 2348ppm

• MKDD0014: 13m@ 614ppm from 95m downhole, including 4.5m @ 1154 and 0.5m @ 3580ppm

The historical results confirm multiple thick tabular zones of mineralisation beginning near surface, which underpins the exploration potential across the newly consolidated project portfolio. Radiometric, geochemical and historical drilling present drill ready exploration targets.

www.gladiatorresources.net

ASX Announcement 11 March 2022

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Figure 2. Cross section through the 2012 block model for the Likuyu North deposit

Liwale – (Uranium) 100% Gladiator

The Liwale project covers 195km2 and is located outside of the Nyerere National Park and was previously owned by Mantra Resources and Uranium One. Arrangements are continuing to secure historical exploration data.

Foxy Project – (Uranium) 100% Gladiator

The Foxy Project covers 299.70km2 and was previously owned by Western Metals and is reported to contain uranium mineralisation similar in setting to that of the Mkuju region. At its closest point, Foxy is approximately 25km from the Mkuju tenements.

Eland Project – (Uranium) 100% Gladiator

The Eland Project covers 294.70km2 and was previously owned by Western Metals and is known to contain uranium mineralisation.

Future Program

MSA is expected to assist the Company in finalising its exploration program for Mkuju and to complete an updated Mineral Resource Estimate for Likuyu North in order to ensure JORC 2012 compliance as priorities. The Company expects to commence on-ground activities at the end of the wet season. These include ground-based exploration and sampling along the Likuyu North trends with phased drilling programs to test potential extensions of the Likuyu North deposit and investigate the large number of untested targets on the project area. The proposed work plan and budget are expected to focus initially on ground follow-up and drilling of existing radiometric anomalies and conducting a detailed ground radiometric survey over the prospective regional geology within the project areas. Additional targets generated will be ranked, prioritised and then systematically explored by auger drilling trenching and drilling.

-ENDS-

Released with the authority of the Board.

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ASX Announcement 11 March 2022

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For further information please visit: www.gladiatorresources.net

contact:

Ian Hastings Andrew Draffin Mark Flynn Chairman Company Secretary Investor Relations ian@tomiknominees.com.au adraffin@dwaccounting.com.au mark.flynn@gladiatorresources.net +61 408 581 022 +61 3 8611 5333 +61 416 068 733

About Gladiator Resources

Gladiator is an ASX listed (ASX: GLA) exploration and mining company with a focus on gold and uranium.

The Company was recently granted seven exploration licenses covering over 1,764km2 of highly prospective exploration tenements located in Tanzania, East Africa.

Gladiator also has three gold projects in Australia including Marymia located in Western Australia and Rutherglen and Bendoc which are each located in Victoria.

All the Company’s projects are located in areas that have experienced significant exploration attention and investment whilst also recording highly encouraging results. Victoria, in particular, is currently experiencing a revival in exploration and production which is attracting significant investment attention both domestically and abroad. The Company’s primary focus is to advance its current portfolio of projects whilst also evaluating other opportunities that are complimentary.

Competent Persons Statement

Information in this “ASX Announcement” relating to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves has been compiled by Mr. Andrew Pedley who is a member in good standing with the South African Council for Natural Scientific Professions (SACNASP). Mr. Pedley is an Associate with the MSA Group of Johannesburg who are providing consulting services to Gladiator Resources Ltd. Mr. Pedley has sufficient experience that is relevant to the types of deposits being explored for and qualifies as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code 2012 Edition). Mr. Pedley consents to the inclusion in this document of the matters based on the information in the form and context in which it appears. Mr. Pedley does not currently hold any securities in the company, either directly or indirectly.

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ASX Announcement 11 March 2022

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JORC Code, 2012 Edition – Table 1 report template

Section 1 Sampling Techniques and Data

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

• Criteria JORC Code explanation Sampling • Nature and quality of sampling (eg cut channels, random chips, or techniques 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.

Commentary

• Diamond core holes were sampled at geological intervals with a nominal maximum interval of 1 metre.

• Half core samples are preserved for future assay as required. Samples were collected from the core trays after they had been transported from the drill site to the base camp at Likuyu. They were marked up and recovery recorded.

• Samples were then split (cut) in half-length wise (downhole). Sample downhole intervals lengths ranged from 0.5m to 1.0m. Individual sample weights were in the range of 3kg minimum, to 5kg maximum, and an average of 5kg.

• Measures taken to ensure sample representivity include controls on sample quality and sample location, including for drilling, collar position; downhole survey; and downhole depths. These are validated by GPS, compass; wireline DH survey tools and DH Gamma probes; and regular counting of drill rods downhole to verify reported core block depths.

• Sample quality was checked by the supervising rig geologist to ensure removal from core tube to core tray is done correctly, that drill core has not been re-drilled, and other checks, including core recovery measurements, to ensure drill core is representative of in-situ material drilled.

Total gamma eU3O8

The historical drilling relies on downhole gamma data from calibrated probes which were converted into equivalent uranium values (eU3O8) by Terratec Geophysical Services and were confirmed by a competent person (GTS geophysicist).

Gladiator Resources Ltd. | www.gladiatorresources.net | ASX: GLA 4/91 William Street | Melbourne VIC | T: +61 3 8611 5333

ASX Announcement 11 March 2022

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Criteria	JORC Code explanation	Commentary
		Appropriate factors were applied to all downhole gamma counting results
		to make allowance for drill rod thickness, gamma probe dead times and
		incorporating all other applicable calibration factors.
		•GRS 38mm total gamma probes were used and operated by Terratec
		Geophysical Services
		•Gamma probes were calibrated at Pelindaba, South Africa, in May 2011
		and in December 2012.
		•Between 2011 and 2012 sensitivity checks were conducted by periodic
		relogging of a test hole (Hole-MKDD0002) to confirm operation.
		•During the drilling, the probes were checked daily against a standard
		source.•Gamma measurements were taken at 5cm intervals at a logging
		speed of approximately 1.5m per minute.
		•Probing was done immediately after drilling mainly through the drill rods
		and in some cases in the open holes. Rod factors have been established once
		sufficient in-rod and open-hole data were available to compensate for the
		reduced gamma counts when logging was done through the drill rods. No
		correction for water was done. The majority of drill holes were dry.
		•All gamma measurements were corrected for dead time which is unique
		to the probe
		•All corrected (dead time and rod factor) gamma values were converted to
		equivalent eU3O8 values over the same intervals using the probe-specific K-
		factor.
		Chemical assay data
		All samples were submitted to internationally accredited SGS Laboratories
		both in Mwanza, Tanzania (sample preparation) and then to Johannesburg
		(analysis) for Trace elements by pressed pellet XRF (XRF75G). SGS is an
		ISO/IEC 17025:2005 certified laboratory.
Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air	• The historical drilling included both Aircore and Diamond core drilling
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple	techniques.
	or standard tube, depth of diamond tails, face-sampling bit or other	• The diamond drilling was completed with a Christensen CS -1400 drilling rig.
	type, whether core is oriented and if so, by what method, etc).	Each drillhole commenced with PQ triple tube for the first 100m and then
		reduced to HQ triple tube for every metre drilled beyond 100m.
		• All Drillingwas vertical,and DH surveys conducted every50m

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Criteria	JORC Code explanation	Commentary
		• The drillholes were not oriented for structural data collection.
		• All Aircore drilling holes were completed by using a multipurpose 14R6H RC
		drill rig with 1xIR 900 350PSI compressor mounted in 6x6 truck and R0R3H
		Aircore drill rig. All drillholes were drilled vertically.
		• All Aircore drill holes were drilled initially at 76.2mm and sampled for end of
		hole mineralisation through scintillometer readings in a lead box but later
		were widened by reaming to 127mm for downhole PVC installations before
		down hole geophysical logging surveys were conducted.
Drill sample	• Method of recording and assessing core and chip sample recoveries	• All cores samples were clearly marked and where core loss occurred core
recovery	and results assessed.	block were inserted showing the intervals where core loss occurred in general
	• Measures taken to maximise sample recovery and ensure	core recovery was measured at (98%).
	representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential	• The maximum core loss per hole was 8.4 % in one borehole. The minimum core loss achieved was 0.3 % in two boreholes.
	loss/gain of fine/coarse material.	• No sample bias was detected as a result of core loss.
		• Each of the Aircore drill sample collected at the end of each meter drilled
		was weighed and recorded and acceptable recovery was between weights of
		18kg to 25kg.
Logging	• Whether core and chip samples have been geologically and	• All the boreholes drilled were logged in full and sampled by the supervising
	geotechnically logged to a level of detail to support appropriate	rig geologists.
	Mineral Resource estimation, mining studies and metallurgical	• All the logged information which includes depth, lithology, mineral
	studies.	assemblage, U mineralization, collar survey and geologist are recorded in a
	• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.	strip-log which is generated from the field logging sheets • All core samples were marked with orientation mark, marked with depths and including geological and geotechnical logged and core marked core loss
		blocked were inserted properly.
		• Logging was both qualitative and quantitative and all core samples were
		photographed after marking up meter mark-ups and before core cutting
		samplingand sampling.
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core	• All mineralised intersections were half cut for assay and quarter core cut for
techniques and	taken.	metallurgical testing and a remaining quarter core samples were retained as
sample	• If non-core, whether riffled, tube sampled, rotary split, etc and	a reference samples and where duplicate required the core were quartered
preparation	whether sampled wet or dry.	for assays.
	• For all sample types, the nature, quality and appropriateness of the	• 5% of field duplicates,blanks and CRM’s were applied to check the accuracy

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Criteria	JORC Code explanation	Commentary
	sample preparation technique.	and precision of both sampling crews and laboratory analyses.
	• Quality control procedures adopted for all sub-sampling stages to	• All wet Aircore samples were dried before being split by riffle splitter along
	maximise representivity of samples.	with all dry samples to get a 3kg samples for analytical determinations
	• Measures taken to ensure that the sampling is representative of the in	• A 3kg sample is considered representative for Analytical requirements.
	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. _
Quality of	• The nature, quality and appropriateness of the assaying and	• Downhole gamma tools were used as explained under ‘Sampling techniques’
assay data and	laboratory procedures used and whether the technique is considered	This is the principal evaluating technique.
laboratory	partial or total.	• Standards and blank samples are inserted during portable XRF analysis at an
tests	• For geophysical tools, spectrometers, handheld XRF instruments, etc,	approximate rate of one each for every 20 samples which is compatible with
	the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their	industry norm in addition to the standards, blanks and duplicates inserted by Uranex.
	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.	• Gamma and conductivity down hole geophysical probe survey undertaken by Terratec from Namibia were used for downhole survey at speed of 1-1.5m per minute. • The U308 grades are calculated from the count surveyed by the gamma
		downhole surveys.
		• During downhole gamma surveys (MKDD02) was used as Calibration/test
		hole where DH QAQC logging was conducted before DH surveys and all digital
		recordings and results were plotted to show any discrepancy of DH gamma
		probes
		• Logs showing the total count derived eU3O8 grades together with U3O8 and
		ThO2 grades derived from the U and Th spectral channels were based on
		calibrations made at the Pelindaba facility South Africa
		• Logs showing the K2O, U3O8 and ThO2 grades based on full spectral
		processing were based on calibrations performed at the Medusa facility in
		Groningen Holland.
		• Logs showing lithological conductivity based on induction probe
		measurements
Verification of	• The verification of significant intersections by either independent or	• All significant intersections were verified by independent consultant from
sampling and	alternative company personnel.	CSA Global PTY LTD.
assaying	• The use of twinned holes.	• All Aircore holes that intersected significant intersections were twinned with
	• Documentation of primary data, data entry procedures, data	diamond drill holes and the assay and eU3O8 were correlated for possible
	verification, data storage (physical and electronic) protocols.

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Criteria	JORC Code explanation	Commentary	Commentary
	• Discuss any adjustment to assay data.		disequilibrium.
Location of	• Accuracy and quality of surveys used to locate drill holes (collar and	•	All drill holes collar were located initially with a handheld Garmin GPS62s in
data points	down-hole surveys), trenches, mine workings and other locations		UTM Arc1960 projection/datum Zone 37 south and after the completion of
	used in Mineral Resource estimation.		the drilling programs.
	• Specification of the grid system used. • Quality and adequacy of topographic control.	•	Final borehole collar positions were surveyed post drilling with a differential GPS survey instrument, by an independent external surveyor (INITIO EARTH
			SCIENCES)
		•	INITIO EARTH SCIENCES surveyed all drill holes collars by using the 4 Topcon
			Dual Frequency DGPS receivers with an accuracy of 0.1m in UTM WGS 1984
			zone 37 south datum
Data spacing	• Data spacing for reporting of Exploration Results.	•	The drill holes spacing was approximately 50x50m spacing and in some place
and	• Whether the data spacing and distribution is sufficient to establish the		100x50m spacing, depending on topographic constraints
distribution	degree of geological and grade continuity appropriate for the Mineral	•	No sample composites were applied.
	Resource and Ore Reserve estimation procedure(s) and
	classifications applied.
	• Whether sample compositing has been applied.
Orientation of	• Whether the orientation of sampling achieves unbiased sampling of	•	No sample bias was noted.
data in relation	possible structures and the extent to which this is known, considering	•	Sampling intervals were mainly based on anomalous DH logging Gamma
to geological	the deposit type.		intervals and scanning 1m samples intervals using handheld RS-125
structure	• If the relationship between the drilling orientation and the orientation		Spectrometer after normalizing using background gamma readings at surface.
	of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	•	No sample compositing has been applied.
Sample	• The measures taken to ensure sample security.	•	All samples are sent to the (SGS Mwanza - Tanzania) under full security and
security			"Chain of Custody" procedures by the Company. This is done by the
			following procedures:
			Drill core produced at the rig is inspected regularly (multiple times daily)
			and collected by the Company at the end of nightshift.
			Core and samples are securely locked overnight in an on-site secure facility.
			After on-site logging and processing, core is transported to the Company's
			long-term core storage facility under the direct supervision of a Company
			representative where it is securely locked.
		•	Core is further processed for sampling by Company representatives under
			guidance of the Competent Person. Bagged samples are secured bytags

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ASX Announcement 11 March 2022

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Criteria	JORC Code explanation	Commentary	Commentary
			and delivered by a Company representative to SGS Mwanza (sample
			preparation laboratory).
		•	The preparation laboratory, (SGS Mwanza) then sends pulp samples
			directly to the assay laboratory at (SGS Johannesburg) for analysis via a
			door-to-door courier service (DHL).
		•	All rejects are returned under courier service and stored in the Company's
			secure lock-uplong-term core storage facility.
Audits or	• The results of any audits or reviews of sampling techniques and data.	•	The sampling techniques were audited by independent Geological/Mining
reviews			consultant (CSA Global PTY LTD).

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and ownership including	• The reported drilling programs were conducted in PL4870/2007 that was
tenement and	agreements or material issues with third parties such as joint	100% owned by Uranex Tanzania Limited.
land tenure	ventures, partnerships, overriding royalties, native title interests,
status	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.
Exploration	• Acknowledgment and appraisal of exploration by other parties.	• A Tanzanian country wide uranium exploration program commenced in 1979.
done by other		It included gridding, ground radiometric surveys, geological mapping, and
parties		trench sampling. Strongly anomalous zones, with readings over 10 times
		background, were up to 300m x 50m in size. Uranium mineralisation occurred
		over a vertical distance of 220m and within an area of about 11km x 11km.
		The strongest mineralisation sampled during 1979, at Anomaly 289/3I,
		returned 0.47% U3O8 over 1.9m (now part of the Uranium 1 resources).
		During 1980 the work carried out in the Mkuju River area included:
		• Helicopter supported semi-regional/semi-detailed geology and radiometry at
		a scale of 1:50,000.
		• The development of a stratigraphic framework, in which the Karoo sediments
		were divided into two series – the lower and strongly mineralised Mkuju
		Series and the overlyingMbaragandu Series. The latter was recognised as

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Criteria	JORC Code explanation	Commentary	Commentary
			containing numerous anomalies, some of which were followed-up and were
			found to contain visible uranium mineralisation, but was second in priority to
			the Mkuju Series.
Geology	• Deposit type, geological setting and style of mineralisation.	•	The majority of the uranium deposits and occurrences in eastern and
			southern Africa occur within the Karoo Supergroup, a thick sequence of
			continentally derived clastic sediments. Sandstones are the dominant
			lithology, with lesser amounts of conglomerate, siltstone, and mudstone.
			Coal measures are also present within the supergroup, which ranges from
			late Carboniferous to Jurassic in age.
		•	In southern Tanzania the Karoo sediments are within the north-northeast
			trending Selous Basin, a rift basin that extends over a length of about 550km
			and a width of up to 180km. Most of the uranium occurrences in southern
			Tanzania are within these sediments. The uranium occurrences of the Likuyu
			Project area are within very coarse felspathic sandstones, which contain
			minor interbedded siltstone units. The sediments are interpreted to have
			formed within a braided river system.
		•	The uranium mineralisation at the Likuyu Project area consists of the
			secondary uranal-phosphate minerals phosphuranylite and meta-autunite.
			It is generally within porous sandstones between layers of relatively
			impervious siltstones and mudstones. The mineralised rocks are coarse-
			grained to conglomeratic channel sandstones deposited in a riverine
			environment. They are arkosic, friable, and more or less horizontally
			bedded. The larger occurrences of mineralisation occur in crescent shaped
			bodies up to 1km wide and 2.5km long with the convex side being in a down-
			dip direction. They occur within largely-reduced rocks, down-dip from a
			redox front interpreted from a broad colour change in the sandstones.
Drill hole	• A summary of all information material to the understanding of the	•	All drilling was done vertically
Information	exploration results including a tabulation of the following information	•	Drill collar elevation is defined as height above sea level in meters (RL).
	for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole	• •	All holes were drilled at vertical and deemed appropriate to the local structure as understood at the time of drilling. Down hole length of the hole is the distance from the surface to the end of the hole, as measured along the drill trace.
	o down hole length and interception depth

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Criteria	JORC Code explanation	Commentary
	o hole length.	• Appendix 1 lists all the drill hole locations and chemical assays.
	• 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	• In reporting Exploration Results, weighting averaging techniques,	• 5cm intervals of downhole gamma counts per second (cps) logged inside the
aggregation	maximum and/or minimum grade truncations (eg cutting of high	drill rods were composited to 1m downhole intervals showing greater than
methods	grades) and cut-off grades are usually Material and should be stated.	100cps values over 1m.
	• Where aggregate intercepts incorporate short lengths of high grade	• No weighted averages of sample assay intervals have been calculated
	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.	• No data aggregation methods have been used • A minimum cut-off of 0.100g/t has been applied with an internal dilution of 2m. • No other grade truncations were applied.
Relationship	• These relationships are particularly important in the reporting of
between	Exploration Results.	• Karoo secondary roll type mineralisation is slightly dipping to horizontal in
mineralisation	• If the geometry of the mineralisation with respect to the drill hole	nature. The intersections of this exploration drilling programs are based on
widths and	angle is known, its nature should be reported.	true width; however, each intersection must be evaluated in accordance with
intercept lengths	• 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	its structural setting. Mineralisation results are reported as "downhole" widths as true widths
	_width not known’). _
Diagrams	• Appropriate maps and sections (with scales) and tabulations of	• Contained within the announcement
	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. _
Balanced	• Where comprehensive reporting of all Exploration Results is not	• Comprehensive reporting of all exploration results has been practised and
reporting	practicable, representative reporting of both low and high grades	will be finalised on the completion of the drilling program.
	and/or widths should be practiced to avoid misleading reporting of
	_Exploration Results. _
Other	• Other exploration data, if meaningful and material, should be reported	• The wider area was subject to drilling in the 1970s and 1980s by Uranerz.
substantive	including (but not limited to): geological observations; geophysical	• No other exploration data that is considered meaningful and material has
exploration	survey results; geochemical survey results; bulk samples – size and	been omitted from this report
data	method of treatment; metallurgical test results; bulk density,
	groundwater, geotechnical and rock characteristics; potential
	deleterious or contaminating substances.
Further work	• The nature and scale of planned further work (eg tests for lateral	• Further exploration drilling work is planned on PL1175/2021 for secondary
	_extensions or depth extensions or large-scale step-out drilling). _	roll front style targets that reportedpositive results,alongwith further

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Criteria	JORC Code explanation	Commentary
	• Diagrams clearly highlighting the areas of possible extensions,	regional uranium exploration
	including the main geological interpretations and future drilling areas,
	provided this information is not commercially sensitive.

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