Further Uranium Mineralisation Intersected at Big Lake as Roll-Front Model Strengthens

Alligator Energy Ltd (ASX: AGE) (Alligator or the Company) is pleased to report initial drilling results from its 2026 exploration program at the Big Lake Uranium Project in South Australia's Lake Eyre Basin, with drilling confirming further uranium mineralisation at Site 10.

Highlights

• Thirty-three aircore holes completed for 4,112 metres, with further uraniummineralisation intersected at Site 10.
• Follow-up drilling at Site 10 has intersected uranium mineralisation associated with theinterpreted redox boundary between oxidised and reduced sands, providing furthergeological evidence supporting Alligator's roll-front uranium exploration model.
• Key intersections, reported above a 100ppm eU3Og cut-off, include:
  • AC26-006:.
    • 1.0 metres at 0.018% (180ppm) eU3O8 from 98.1m (GT 180m.ppm)
    • 0.9 metres at 0.019% (190ppm) eU3Os from 100.4m (GT 170m.ppm)
  • AC26-009
    • 1.9 metres at 0.032% (320ppm) eU3O8 from 100.9m (GT 610m.ppm).
• Regional drilling 6km south of Site 10 has intersected similar oxidised and reduced sands at comparable depths, while the prospective palaeo channel remains open to the southeast and is interpreted from seismic data to extend a further ~12km

Alligator CEO and Managing Director Dr Andrea Marsland-Smith said: We are pleased with the early results from this year's drilling at Big Lake. The work at Site 10 has confirmed further uranium mineralisation and is giving us a much clearer picture of how the roll-front system is developing and the potential scale. What is particularly encouraging is that drilling 6 kilometres south of Site 10 has intersected similar oxidised and reduced sands at comparable depths, suggesting the favourable geological setting extends well beyond the discovery area.

Drilling Program Detail & Objectives

Thirty-three aircore holes have been completed as part of Alligator's ongoing 2026 drilling campaign. The program has been exploring within sands of a large palaeo channel within the Namba Formation at depths between 70-130m from surface (Figure 1). Drillholes have been sited both north and south of Site 10 (Figure 2); the site of the initial uranium discovery in 2024 with the objective of providing additional geological context to:

1. Strengthen the interpretation of the 2024 results and provide a broader perspective of theirsignificance;
2. Locate the precise level(s) of the uranium mineralisation within the host sands using downhole gamma geophysical logging;
3. Regionally map the alteration (redox) state of the sands around Site 10 to provide guidance to the siting of successive drillholes to precisely target roll-front uranium mineralisation, and
4. Determine if the system has regional scale.
   

Figure 1: Big Lake Uranium Project location and exploration target area

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