Aura Energy: Fast-tracking Uranium Projects to Support a Nuclear-powered Future

Aura Energy (ASX:AEE, AIM:AURA) is advancing its fast-tracked Tiris Uranium project in Mauritania, as it continues to transition from explorer to producer. The company's mission is to produce sustainable, low-cost uranium for the world’s future energy needs.

Aura Energy’s flagship Tiris Uranium Project in Mauritania is well-positioned to achieve near-term production from its Phase 1 project in 2024, supported by a stable jurisdiction and a mining-friendly government. The company has completed a definitive feasibility study which was recently updated with a 2021 capital estimate and has since submitted its draft Key Management Plans for Tiris to the National Authority for Radioprotection, Safety and Nuclear Security in Mauritania, part of the next steps to obtain authorisation for production and export of uranium oxide concentrate from Mauritania.

Company Highlights

• Aura Energy is an exploration and development company with a mission to produce sustainable, low-cost uranium for the world’s future energy needs.
• The Tiris Uranium Project in Mauritania is poised for near-term production, with low capital and operating costs, supported by a stable and mining-friendly jurisdiction.
• Tiris mineralisation occurs at surface, is free-digging and the grade is easily upgraded by 500 to 600 percent while rejecting 80 percent of the mass prior to leaching. All these characteristics contribute to low capital and operating costs.
• The company has submitted draft management plans to Mauritanian authorities as an important step towards production and export of uranium oxide concentrates from Mauritania.
• The company has developed a net-zero emissions pathway to support a positive ESG rating for its Tiris project.
• Phase 1 of the Tiris project uses only 20% of total resources, providing significant opportunity to more fully utilise resources with expanded production.
• The company is progressing with a feasibility study into expanded production, with a target of 2 to 4 Mlb pa U3O8 shortly after first U3O8 production from Phase 1.
• Aura Energy’s 100-percent-owned Häggån uranium-vanadium project contains significant vanadium deposits, an essential mineral for the steel industry as well as for the development of VRFB to support renewable energy technologies.
• An experienced management team with expertise throughout the mining industry leads the company towards its goals.

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