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Aura Energy Limited (ASX: AEE, AIM: AURA) (“Aura” or “the Company”) is pleased to announce that the Company has applied for multiple highly prospective exploration tenements adjacent to and surrounding its existing Tiris Uranium Project ("Tiris” or “Tiris Project”) in Mauritania.
KEY POINTS:
- Aura Energy Ltd has applied for an additional ~13,000 km2 of exploration tenements in the Tiris Uranium Province in Mauritania.
- The new exploration license applications target areas with strong synergies with the Tiris West resource of 11.2Mlbs (16.4Mt @ 305ppm U3O8)1.
- The goal is to confirm Aura’s radiometric analysis that the Tiris region is a world-class uranium province.
- Aura believes the Tiris Uranium Project now has the potential to confirm a world-class scale.
- The Tiris Project's Front-End Engineering Design (FEED) study is approaching completion, with Tiris East exploration and preconstruction activities to commence shortly.
Aura is delighted that His Excellency Mr. Nany Chrougha, Mauritania’s Minister of Mines, is supporting His Excellency President Mohamed Ould Cheikh El Ghazouani’s goal of ensuring the development of a strong resources industry in Mauritania. This goal has seen the reopening of the Mining Cadastre and the Ministry has begun accepting applications for exploration tenure, including Aura’s application.
Aura has completed the application processes and filed exploration tenure applications covering an extensive 13,000 km2. The new tenure application areas were selected following a detailed 12-month evaluation program based on historical drilling and radiometric data and analogues from the Company’s successful uranium discoveries, which underpin the Tiris Uranium Project. This analysis led to the recent Exploration Target announced for the existing Tiris East Resource areas2, for which drilling is planned to commence before the end of 2023. The Company is confident that the proven model for successful exploration can be extended across the wider Tiris Zemmour region by extending the exploration footprint.
Subject to the successful granting of these applications, Aura will work to progressively confirm and test exploration targets within these tenements through 2024 and 2025.
Figure 1 - Exploration Tenement Applications
Chairman Phil Mitchell commented:
“Our geologists are confident that the Tiris Zemmour region of Mauritania is a world-class uranium region, similar in importance to the uranium market as the Pilbara region in Western Australia is for iron ore. We believe Aura’s uranium-enriched carnotite zone extends across the north-eastern Mauritania area of Tiris Zemmour, and our exploration success to date provides validation for pursuing further strong growth platform for Aura’s shareholders and our Mauritanian partners.
“With the potential for our current Tiris West resource to be materially expanded, the Company strategy is to:
- progressing development of the already defined resource in Tiris East as a new uranium producer; and
- undertaking a significant resource expansion exploration study on the new tenure.”
Aura’s Managing Director and CEO David Woodall said,
"Aura Energy has already established a commanding position with its Mineral and Reserves and Resources at Tiris West, which has put us in a position to consider a final investment development decision in the coming months.
“Combined with our recently announced Exploration Target, these tenement applications – if successful – will give us an opportunity to be a driving force to realise the full potential of this region, which we believe could be truly world-class in scale.
“Our development strategy for Tiris is complemented by our exploration strategy, which aims to grow our resources and allow scaled-up production over time in a capital-efficient manner.
“We look forward to working with our stakeholders to progress our applications, ultimately growing the Tiris Project into a global-scale project that contributes to Mauritania's economic and social development.”
Click here for the full ASX Release
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AEE:AU
North Shore Uranium: Unlocking Value Across Two World-class Uranium Districts in North America
North Shore Uranium (TSXV:NSU) is a uranium exploration company focused on North America, advancing a dual-track strategy aimed at high-impact discoveries in two of the world’s most prolific uranium regions: the eastern Athabasca Basin in Saskatchewan, Canada, and the Grants Uranium District in New Mexico, USA. With a lean capital structure, fully permitted drill targets in Saskatchewan, and strong insider ownership, the company is well-positioned to create value through cost-effective exploration and resource definition in a rising uranium price environment.
The Rio Puerco project, located in New Mexico’s Grants District—a historically productive uranium belt responsible for over 340 million pounds of past U₃O₈ production—offers strong potential. Drawing on data from approximately 800 historical drill holes, a JORC-compliant inferred resource estimate of 11.4 million pounds U₃O₈ was completed in 2009. Early assessments suggest potential for in-situ recovery (ISR) mining, one of the lowest-cost extraction methods in the industry.
North-Shore-Uranium-Athabasca-Basin-ProjectsAt the Falcon project in the Athabasca Basin, North Shore’s maiden 2024 drill program confirmed near-surface uranium mineralization in previously untested zones, underscoring the project’s discovery potential. The company has outlined a 7-kilometre conductive corridor with high-priority drill targets in the South Priority Area and is planning prospecting and follow-up drill programs.
Company Highlights
- Dual Jurisdiction Exposure: Active exploration in Athabasca Basin and the Grants Uranium District, two of the most historically significant uranium-producing regions in North America.
- Rio Puerco Option: Binding term sheet signed for a transaction that would see North Shore Uranium acquire up to an 87.5 percent of the Rio Puerco uranium project in New Mexico, where there is a historical resource estimate of 6 million tonnes grading 0.09 percent eU₃O₈ for 11.4 million lbs of U₃O₈.1
- Falcon Discovery in 2024: Maiden drill program confirmed near-surface uranium mineralization at two targets on the Falcon property in the Athabasca Basin in a previously undrilled area within 30 km of the active Key Lake uranium mill.
- Path to Resource Definition: Upon completion of the transaction, North Shore plans to validate historical data, attempt to expand the resource and evaluate the ISR potential at Rio Puerco and concurrently work to expand the discovery footprint at Falcon.
- Lean Structure, Strong Insider Support: $2.2 million market cap (as of July 2025), 40.3 million shares outstanding, with 43.3 percent held by insiders and founding investors.
- High-caliber Team: Led by award-winning geologist Brooke Clements and supported by proven uranium dealmakers and technical experts.
This North Shore Uranium profile is part of a paid investor education campaign.*
Click here to connect with North Shore Uranium (TSXV:NSU) to receive an Investor Presentation