GTI Activities Report, September Quarter 2022

GTI Energy Ltd (GTI or the Company) is pleased to report on its activities for the September 2022 quarter.

• Two rigs in operation at GTI’s Thor ISR uranium prospect
• First 40 holes completed of the ~40,000ft (~12,200m) 70-hole drill program
• A new and strongly mineralised trend encountered within state lease Section 29
• Best hole to date with a sum 71.5 feet of average 0.034% (range 0.021%-0.142%) eU3O8 with a total hole GT of 2.55, mineralised depths between 270 – 494 feet.
• Mineralisation conducive to ISR recovery with water table 100-200 ft above host sands
• 4,593 ft of new roll front trends found to date for a total of 22,233 ft (4.21 miles)
• 184 new lode claims have been successfully secured via staking

GREAT DIVIDE BASIN (GDB) ISR URANIUM, WYOMING, USA

GTI’s ISR uranium projects are located in the Great Divide Basin in Wyoming, USA and comprise a total area of ~35,000 acres (~14,000 hectares) across several groups of strategically located and underexplored mineral lode claims and two state leases (Figure 1).

The projects are prospective for sandstone hosted uranium that is amenable to low cost, low environmental impact ISR mining. The Wyoming Properties are located in proximity to UR- Energy’s (URE) operating Lost Creek ISR Facility & Rio Tinto’s (RIO) Sweetwater/Kennecott Mill and the GDB roll front REDOX boundary.

GTI’s exploration objective for its current follow-up program in the Great Divide Basin is to identify REDOX boundaries and potential host sands in addition to defining the depth, thickness, grade and width of mineralisation across the REDOX front. The Company is targeting mineralisation which is at least 50 feet (15 metres) below the water table. The drill program may also ultimately enable estimation of inferred mineral resources and/or an exploration target.

GTI hopes to encounter further mineralisation of similar tenor to that encountered at the nearby Lost Creek deposit and that otherwise meets typical economic cutoff criteria for sandstone hosted ISR uranium projects in Wyoming’s Great Divide Basin e.g.:

• Grade greater than 0.02% (200 ppm) U3O8
• Grade x Thickness (GT) greater than 0.2 (10 ft @ 0.02 - 3 metres @ 200ppm U3O8).
• Width of mineralisation above cutoff nominal 50 feet (15 metres) and nominal GT of 0.4.

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