Federal Environmental Approval Received

Toro Energy Limited (ASX:TOE) (“the Company” or “Toro”) is pleased to advise the Federal government’s Minister for the Environment and Energy, the Hon Josh Frydenberg, has granted environmental approval, subject to implementation conditions, for the Extension to the Wiluna Uranium Project (EPBC 2014/7138) in Western Australia.

The Minister’s approval was received by Toro on 7 July 2017 and is attached to this announcement (Annexure 1).

The Extension to the Wiluna Uranium Project was assessed under a bi-lateral agreement between federal and state governments initiated in February 2014.

The approval complements the federal approval granted in April 2013 by the then Minister for the Department of Sustainability, Environment, Water, Population and Communities, the Hon Tony Burke (EPBC No. 2009/5174) (Annexure 2) that approved the development of a uranium mine comprising the Centipede and Lake Way deposits and associated processing plant and infrastructure.

The effect of the two federal approvals is that the assessment process under the EPBC Act is complete and the Wiluna Uranium Project, being the mining of uranium at the Centipede, Lake Way, Millipede and Lake Maitland deposits, the construction of a processing facility and all mine and processing related infrastructure, tailings storage facilities and finished product transport to port, can be implemented subject to the conditions outlined in the two approval documents.

The rigorous environmental assessment process for the Wiluna Uranium Project has lasted over seven years and been conducted with great transparency through federal and state environmental statutes ensuring both an environmentally and legally robust set of approvals. Toro, its environmental consultants, and other third parties such as CSIRO, have contributed to a significant library of environmental science addressing key environmental factors relating to the Project identified by Toro, government and via public consultation. Toro acknowledges the dedicated evidence based environmental assessment undertaken by both the Federal Department of Environment and Energy and the Western Australian Office of the Environmental Protection Authority and other State agencies.

Highlights

• Federal and State government environmental approvals in place for mining uranium at the Centipede, Lake Way, Millipede and Lake Maitland deposits, the construction of a processing facility and all mine and processing related infrastructure, tailings storage facilities and finished product transport to port (‘Wiluna Uranium Project’).
• State and Federal Government environmental assessment process completed pursuant to the Environmental Protection Act 1986 (WA) (‘EP Act’) and Environment Protection and Biodiversity Conservation Act (Cth) (‘EPBC Act’).
• Government environmental approvals are subject to implementation conditions.
• WA State Government has confirmed it will not prevent the development of the Wiluna Uranium Project.

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