Drilling Contract Awarded – Mkuju Uranium Project Mobilization begins.

Gladiator Resources Ltd (ASX: GLA) (Gladiator or the Company) is excited to announce preparations for our diamond drilling program at our 100% owned Mkuju Uranium Project.

• Tanzanian Mining Commission has approved BR Drilling Limited, the Company’s preferred contractor for the drilling at the 100% Owned Mkuju Uranium Project.
• The rainy season has ended. Mobilization, earthworks, and camp set-up now underway in preparation of the drilling campaign.
• Drilling will start in June at the promising SWC target where surface trenches gave vertical intervals including 2.55m @ 2017ppm U₃O₈, 0.75m @ 7139ppm U₃O₈, 2.35 @ 1636ppm U₃O₈ and 1.4m @ 3945ppm U₃O₈¹.
• Results achieved at the SWC target will define the fluidity of the drill program across the three target areas of SWC, Mtonya and Likuyu North.

The 2024 drilling program on the Mkuju Uranium Project is the result of the analysis of multiple geophysical surveys, historical data, and trenching to ensure that we have located the key target areas with the highest potential to intercept and extend uranium mineralization.

Drilling all-set commence in June now that the approval from the Tanzanian Mining Commission has been received and that the Rainy Season in Tanzania has ended.

The 2024 Drilling Program will include initial core drilling at the SWC target where 2023 trenches intersected up to 7139ppm U3O8. At Mtonya and Likuyu North, drilling will test potential extensions and new zones to the existing uranium deposits. Earthworks, camp establishment and equipment and crew mobilization are underway. Figure 1 provides an indicative timeline for the exploration.

Figure 1. An indicative timeline for the drilling program and other works.

The SWC target – summary and Gladiators planned drilling

The SWC target presents a promising opportunity for uranium exploration. In 2008, shallow auger holes were drilled, revealing excellent uranium intersections, but further exploration at the target was sidelined by Mantra Resources as they focused on their Nyota Uranium deposit to the north.

In 2023 Gladiator carried out trenching to confirm and understand the uranium mineralization and encountered high grade uranium in 4 of the 5 trenches². Vertical channel samples across the gently dipping layer included:

• 2.55m @ 2017ppm U₃O₈,
• 0.75m @ 7139ppm U₃O₈,
• 2.35 @ 1636ppm U₃O₈ and
• 1.4m @ 3945ppm U₃O₈.

Gladiators drilling will test the potential down-dip extension of this mineralization, described in the announcement dated 26 December 2023. Figure 2 is a conceptual cross-section through the SWC target showing the North and South Limb zones. Figure 3 provides a map of the North Limb zone with planned drillholes marked.

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