Uranium resources and new discoveries

Elevate Uranium Limited (ASX: EL8) (“Elevate” or the “Company”) has significant uranium resources
on two continents and continues to make exciting discoveries, at a time when global demand
for base load, carbon-free energy is growing rapidly, as the world moves towards a greener economy.
Elevate’s patented ore processing process has been shown to dramatically improve the economy of
future uranium developments and reduces their environmental footprint, which gives an advantage
race to deliver a new offering to the market.

At the start of trading under its new company name, Elevate is pleased to provide an overview
of its large portfolio of uranium assets, which includes:

Namibia: 61 Mlb of U3O8 resources, largest uranium soil position, new discoveries

  • Marenica Uranium Project – 61 Mlb of uranium resources *. Elevate U-pgradeTM increases
    grade more than 50 times up to ~ 5,000 ppm U3O8
  • Koppies – 6.4 km² mineralized paleochannel system ready for resource drilling
  • Hirabeb – paleocanal system spanning 36 kilometers, a distance wider than English
    Channel, with mineralization identified over 30 kilometers
  • Namib IV – Paleocanal system extended over 19 kilometers in length
  • Buildings covering the largest ground position for nuclear fuel (uranium) in Namibia
  • An airborne electromagnetic survey in progress

Australia: 48 Mlb of U3O8 resources, improving development options

  • Australian uranium portfolio – 48 Mlb at an average grade of 859 ppm U3O8 *
  • Angela (NT) – 31 Mlb resource at 1310 ppm U3O8 * – U-pgradeTM reduces acid costs by 77%
  • Oobagooma (WA) – underexplored, but with large areas of mineralization
  • Minerva (NT) – historic intervals of high-grade uranium and gold drilling

/ Public distribution. This material is from the original organization and may be ad hoc in nature, edited for clarity, style and length.

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