Livingstonia – Uranium

The Livingstonia tenement is located in Northern Malawi, approximately 90km southeast of the Company’s Kayelekera Uranium Mine and is the major focus for the Company’s exploration strategy through 2022.

The Livingstonia mineralisation is hosted in the prospective Karoo-equivalent sedimentary sequence which is also the host to the main deposit associated with Kayelekera deposit. Livingstonia has a historical Inferred Mineral Resource of 8.3Mt at 325ppm eU3O8 for 6.0Mlb of contained U3O8 at a cut-off grade of 150 ppm eU3O8 (JORC Code 2004). 4

Livingstonia North, a tenement already held by the Company (EL 0418), is situated directly along-trend of the Livingstonia uranium resource, with drilling at the northern end of the Livingstonia deposit supporting a continuation of mineralisation into Livingstonia North. The airborne radiometric anomaly at Livingstonia is coincident with the resource and this anomaly continues into Livingstonia North. A parallel radiometric anomaly also exists in Livingstonia North that may indicate additional mineralisation.

4 The estimates of Mineral Resources as shown are historical and are not reported in accordance with the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012); a Competent Person has not done sufficient work to classify the historical estimates as Mineral Resources in accordance with the JORC Code 2012; and it is uncertain that following evaluation and/or further exploration work that the currently reported historical estimates will be able to be reported as Mineral Resources