Airborne Geophysics For Green Mountain Uranium Project & GDB Maiden Uranium Resource On Track For March End

GTI Energy Ltd (GTI or Company) is pleased to advise that Terraquest Ltd has been engaged to deliver an airborne geophysical survey at GTI’s 100% owned Green Mountain Project in Wyoming. The survey is expected to commence during April 2023 with the results due towards the end of Q2 2023. The detailed airborne data collected will provide an important new data set that will further enhance the drill targeting and prioritisation for the projects.

Highlights

• Extensive airborne geophysical survey to commence in April 2023 at the Green Mountain Uranium Projects in Wyoming
• Recent analysis of historical drilling and follow-up ground reconnaissance confirms the presence of uranium mineralisation located in the Battle Springs formation which is known to host ISR amenable mineralisation
• The survey is designed to advance and prioritise high priority exploration targets
• Drilling of high priority targets at Green Mountain scheduled for the 2^nd half of 2023
• GTI is on track to deliver a maiden Mineral Resource Estimate for its Great Divide Basin project by the end of Q1 2023

PROPOSED AIRBORNE SURVEY

The airborne geophysical survey is expected to commence, weather permitting, during April 2023 and will be conducted by Terraquest Ltd using a suite of sensors that provide detailed radiometric, magnetic and electromagnetic data, allowing for correlation between the three products to further refine our high-priority targets and potentially locate new targets for upcoming drill programs. The survey will utilise a sensing package which includes a Resolution Magnetometer, Horizontal Gradiometer, Max Gamma Radiometer and Matrix VLF-EM sensors.

Uranium mineralization at Green Mountain is sandstone-hosted. The airborne geophysics is expected to help define major sandstone channel systems. This coupled with historical drilling data and radiometric anomalies will aid in drill target definition.

Executive Director Bruce Lane commented “GTI sees this airborne geophysical survey as an important next step in advancing our 100% owned Green Mountain Uranium Project. The airborne survey follows the results of our recent historical drilling analysis and ground reconnaissance programs that highlighted high-quality exploration targets. This survey is a crucial step to further refine and confirm drill targets ahead of anticipated drilling during the second half of 2023.”

FIGURE 1. GREEN MOUNTAIN PROJECT – GEOPHYSICAL SURVEY LOCATION

GREAT DIVIDE BASIN (GDB) PROJECT UPDATE

GTI’s 2022 drilling campaign at its GDB projects was concluded prior to Christmas. The drilling campaign was successful in discovering an additional total 21,974 feet (4.16 miles) of projected uranium mineralised trends (Trends) within GTI’s properties in the Basin as reported to ASX on 22 December 2022. This includes an additional 7,974 feet (1.39 miles) of Trend at the Thor project which has grown to a now enlarged total Trend of 25,614 feet (4.85 miles) as reported to ASX on 8 November 2022. Drilling at the Odin, Teebo and Loki prospects has resulted in an additional 14,000 feet (2.65 miles) of Trends for a Basin-wide total of 39,614 feet (7.5 miles) to date.

The Company is working towards delivery of a maiden mineral resource estimation (MRE) report for the project and currently expects the report to be available by the end of this quarter.

GTI continues to evaluate options to increase its portfolio of highly prospective ISR uranium assets in Wyoming.

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