GTI Activities Report, September Quarter 2024

GTI Energy Limited (ASX: GTR) (GTI or Company) is pleased to report its activities during the September quarter 2024.

• Lo Herma resource drilling permit was approved for 57,000 ft (~17,000 m) of mud rotary drilling with 73 resource estimate development drill holes completed to date
  
• Drilling targeted expansion and upgrade of the current Inferred Mineral Resource Estimate of 5.71 Mlbs eU3O8 at average 630ppm (Table 3)
• Drilling has confirmed that uranium mineralisation continues north from the current mineral resource area with strong mineralised intercepts over good thicknesses encountered stretching at least 2km north along projected trends
• Drilling has also confirmed deeper uranium mineralisation at elevated grades within the upper Fort Union Formation, presenting significant upside potential for Lo Herma
• Notable mineralised intercepts and grade thickness’s (GT*) reported include:
  • 16.5 ft (5 m) @ 0.054% (540ppm) eU308 in drill hole LH-24-001 for total hole GT of 0.891
  • 14.5 ft (4.4 m) @ 0.0640% (640ppm) eU308 in drill hole LH-24-002 for total hole GT of 1.158
  • 6.0ft (1.8 m) @ 0.123% (1,230ppm) eU308 in hole LH-24-028 for total hole GT of 0.903
  • 11 ft (3.4 m) @ 0.054% (540ppm) & 6.5ft (2 m) @ 0.043% (430ppm) eU308 in hole LH-24- 063 for total hole GT of 0.874
  • 6.5 ft (2m) @ 0.074% (740ppm) eU308 in hole LH-24-069 for total hole GT of 1.092 over 23.5 ft (7.16m)
  • 3.5 ft (1m) @ 0.185% (1,850ppm) eU308 in hole LH-24-071 for total hole GT of 0.80
• Lo Herma Mineral Resource Estimate & Exploration Target update on track for late Q4 2024
• $2.25 million placement completed, and $2.155 million rights entitlements offered to all shareholders and optionholders
• Green Mountain drilling permit conditions satisfied
• GTI accepted as member of the Uranium Producers of America – peak US industry body

LO HERMA ISR URANIUM PROJECT

During the quarter the Company advised that all permits, bonds and access arrangements had been approved and put in place to commence 57,000 ft (~17,000m) of mud rotary drilling at the Lo Herma ISR uranium project in Wyoming’s Powder River Basin (PRB).

The Lo Herma ISR Uranium Project (Lo Herma) is located in Converse County, Powder River Basin (PRB), Wyoming (WY). The Project lies approximately 15 miles north of the town of Glenrock and within ~60 miles of five (5) permitted ISR uranium production facilities. Facilities include UEC’s Willow Creek (Irigaray & Christensen Ranch) & Reno Creek ISR plants, Cameco’s Smith Ranch-Highland ISR facilities & Energy Fuels Nichols Ranch ISR plant. The PRB has extensive ISR production history with numerous ISR uranium resources, central processing plants (CPP) & satellite deposits (Figure 1).

The 2024 drilling program permit at Lo Herma comprised up to 76 drill hole locations including up to 5 hydrogeologic and groundwater monitoring wells. This exploration drilling is focused on expanding the resource areas and where possible, upgrading the current mineral resource classification. Collection of important data including, hydrogeologic parameters of the mineralised aquifers and collection of rock core samples for metallurgical testing will be also prioritised.

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