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Uranex is an ASX-listed company with advanced uranium projects in Tanzania and Australia (Trading symbol: (ASX:UNX). Uranex is focused on growth by production through a pipeline of Manyoni (Bahi) and Thatcher Soak production, and the advancement of quality assets, including the Mkuju and Songea in southern Tanzania.

Having recently announced initial resource estimates for Manyoni in central Tanzania and Thatcher Soak in Western Australia, Uranex is well positioned to rapidly advance its two priority exploration and near-production assets. Both resources are located near surface within 20m of largely unconsolidated host sediments, which indicates very low mining costs and simple processing requirements, thereby increasing operating margins and this facilitating production at industry-low cut-off grades.

• The Manyoni (Bahi Region) project in Central Tanzania, currently has 15 Mlbs U3O8 at 100ppm cut-off.

• The Thatcher Soak project in Western Australia has 11M lbs of contained U3O8 in 17Mt of resource at an average grade of 290ppm U3O8, based on a cut off of 150ppm U3O8.

Uranex recently commenced the Manyoni Project Pre-Feasibility Study, following positive Scoping Study results.

Mkuju in Southern Tanzania is another prime project on which the Company is focusing. The tenement area encompasses areas underlain by highly prospective Karoo sediments.

Manyoni Project

Uranex’s Bahi Project area incorporates an extensive closed and drainage system that has developed over weathered uranium rich granites. This drainage system captures dissolved uranium leached from the underlying rocks and transports it to suitable precipitation trap sites (playa lakes) along the drainages, and ultimately into the enormous 40x30km Bahi Playa Lake.

The Bahi playa lake system in Central Tanzania is emerging as a significant and distinct uranium province with some characteristics comparable to the Yilgarn playa lake/calcrete uranium province in Western Australia.

Mkuju Project

The Mkuju Project is located in the south-west of Tanzania close to the borders of Mozambique and Malawi. The project area comprises 11 tenements (grants and applications) covering a total area of about 8,000km2.

The project area incorporates Karoo basin sediments which are the main host for ‘sandstone hosted’ uranium mineralisation in Africa. The Kayelekera uranium deposit in Malawi occurs in similar rocks 300km to the west.

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