Drilling Recommences at Big Lake Uranium Discovery, South Australia

Highlights

• The Big Lake Project (Figure 1) encompasses the northern extensions of the proven uranium- bearing sedimentary system that hosts the Beverley, Four Mile and Honeymoon ISR uranium operations in South Australia and shares many of the key characteristics of world-class hydrocarbon-related ISR uranium districts.
• In August 2024, frontier drilling at “Site 10” (Figure 2) delivered a significant exploration success, intersecting substantial thicknesses of anomalous uranium mineralisation within interbedded sand units of the Namba Formation.
• The discovery provided the first proof-of-concept for the presence of significant uranium mineralisation within the Lake Eyre Basin sediments, validating the Company’s exploration model and highlighting the potential for the basin to host a new sedimentary uranium district.

We are entering a highly active phase of exploration, and this upcoming drilling program represents an important step in assessing the scale and continuity of the Site 10 discovery while simultaneously testing a pipeline of prospective targets across EL 6367. The success achieved by the team to date reinforces our view that Big Lake has the potential to become a strategically important uranium project within Alligator Energy's growing portfolio of advanced uranium assets”

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