Drilling Commences At Thor ISR Uranium Project

GTI Energy Ltd (GTI or Company) advises that two drill rigs have commenced drilling at the Thor ISR uranium prospect at its Great Divide Basin (GDB) project in Wyoming (Figure 1 & 2).

Highlights

• Two rigs have started drilling at GTI’s Thor ISR uranium prospect
• Drilling is targeting known roll fronts for ISR amenable uranium
• Four holes of ~70 planned holes have been completed to date at Thor
• After drilling at Thor, the rigs will move to Odin, Teebo, Loki & Wicket East
• First results expected within the next 2-3 weeks
• Entire 100,000 ft program expected to finish by the end of 2022

FIGURE 1. MUD ROTARY DRILL RIGS OPERATIONING, THOR ISR URANIUM PROSPECT, GDB WYOMING.

DRILLING AT THOR

Drilling has commenced at the Thor prospect, located adjacent to Ur-Energy Inc’s (URE) 18Mlb Lost Creek uranium deposit and operating ISR uranium processing plant2. Exploration at Thor to date identified mineralisation with economic potential based on widths, grades & depth of mineralisation (ASX release 29 March 2022)1. Four holes have been completed to date of the planned 70-hole (~40,000 ft) campaign to target extensions of 2 miles of mineralised roll front identified from drilling earlier this year. Drilling is focused in the north-east the project, including at the two state leases (Figure 2).

DRILLING AT WICKET EAST

Wicket East lies on the southern boundary of Ur-Energy’s Lost Soldier Deposit (Figure 2). Drilling of up to 20 holes (~20,000ft) at Wicket East seeks to explore a projected mineralised trend extending from the southern boundary of URE’s Lost Soldier property for ~3 miles. This mineralised trend is interpreted from historic drilling information similar to that used at Thor.

DRILLING AT ODIN, LOKI & TEEBO

Odin & Teebo are adjacent to Uranium Energy Corp’s (UEC) Antelope Project. Loki sits south of Antelope & north of URE’s Lost Creek. Drilling of ~40 holes (~40,000 ft) across all 3 prospects will explore ~5 miles of mineralised trends interpreted from the historic information used at Thor.

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