GoviEx to Develop Uranium Project with Niger Government

GoviEx Uranium (TSXV:GXU) has announced it will work with the Government of Niger  to rapidly progress GoviEx’s flagship Madaouela uranium project located in the country.

As quoted from the press release:

GoviEx Uranium today announces the receipt of a letter signed by the Honourable Hassan Braze Moussa, Minister of Mines, Republic of Niger supporting a commercial framework reached between GoviEx and the Government of Niger during previously held high-level meetings.

The support letter further directs GoviEx and the respective Ministry of Mines representatives to work together to finalize and document these commercial understandings, the intention of which is to rapidly progress GoviEx’s flagship Madaouela uranium project in Niger.

GoviEx’s Executive Chairman, Govind Friedland, commented, “This is the culmination of more than 12 years of relentless work and millions of man hours by GoviEx management and our Nigerien community. It takes time to get things done in a responsible, sustainable and professional manner. We welcome this meaningful partnership with our host Government and the people of Niger. Through these series of agreements, the company and the Niger Government are laying the foundation necessary to develop the Madaouela project in a fair and equitable way for the long-term benefit of all stakeholders, and we are grateful for the support of all who have contributed to our success.”

The Honourable Hassan Braze Moussa noted the importance of continuing to develop Niger’s mineral resources in partnership with the investment community, declaring, “Niger is a country with many mining investment opportunities and economic, social and political conditions that are conducive to the pursuit of development of a sector considered strategic by the Niger government.” He added, “The government has instituted a mining policy aimed at a mutually beneficial balance, while safeguarding the interests of the nation and investors.”

The key commercial terms now agreed in principle between the Government and GoviEx will need to be finalised in definitive agreements and remain subject to Government, GoviEx board of directors, and other regulatory approvals. Notwithstanding, a summary of these key terms included in the Support Letter are listed below.

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