Highlights

• Drilling permit approved by BLM; final Wyoming state approval expected August 2025
• Top-tier Wyoming drilling services providers contracted with mobilisation due September 2025
• Drilling aimed at growing Mineral Resource Estimate (MRE) and upgrading Inferred resources
• Targeting Mineral Resource Estimate increase and upgrade in Q4 2025
• Lo Herma Project is strategically located to capitalise on the U.S administration’s strong support for domestic uranium supply growth
• Additional drill-permitted projects in Wyoming’s Great Divide Basin and Green Mountain area, as well as brownfield conventional uranium/vanadium assets in Utah’s Henry Mountains provide exploration upside

“With the uranium sector regaining strong institutional and government backing in the U.S, the Lo Herma Project is ideally positioned to help fill that critical supply gap.

“Having now received BLM approval, and with the support from the government level, our final step is sign-off from the State of Wyoming for our drilling plan. This is expected to be completed in time for drilling to commence during September.

“This drilling is targeted to grow the resource by upgrading the current Exploration Target areas to the north of proposed Mine units 1 and 2, in addition to increasing the proportion of Indicated resources at the project with an aim to deliver an updated Mineral Resource Estimate by end of calendar year 2025. The resource update will be followed by a revised Scoping Study to outline the project economics as we move towards a Final Investment Decision (FID) for mine construction”.

Bruce Lane
Executive Director