Quarterly Activities/Appendix 5B Cash Flow Report

GTI Energy Ltd (ASX: GTR) (GTI or Company) is pleased to report on its activities in the June 2023 quarter.

• Lo Herma Inferred Mineral Resource Estimate of 5.71 Mlbs U3O8 at average 630ppm
• Great Divide Inferred Mineral Resource of 1.66 Mlbs U3O8
• GTI’s combined Wyoming Inferred Mineral Resources now 7.37 Mlbs U3O8
• 200 additional claims (~4,000 acres) staked at Lo Herma to cover additional areas of trends and historical drilling - increasing the total project footprint to ~13,300 acres
• Lo Herma is ~10 miles from the US’s largest ISR U3O8 production plant at Cameco’s Smith Ranch-Hyland & ~60 miles from UEC’s Irigaray & Energy Fuels’ Reno Creek.
• Lo Herma Project exploration target range updated & increased by ~25%
• Permitting in progress for Lo Herma drill program targeting late 2023/H2 2024
• Additional historical data acquired for Lo Herma including trend maps & core holes
• Aerial Geophysics data collection completed ; final report due September

GREAT DIVIDE BASIN (GDB) ISR URANIUM, WYOMING - MAIDEN MINERAL RESOURCE

During the quarter on 5 April 2023 the Company declared an initial Inferred Mineral Resource Estimate (MRE) at the Thor and Teebo Uranium Prospects located within GTI's Great Divide Basin (GDB) Project located in Wyoming’s GDB uranium district.

The Inferred Mineral Resource Estimate (MRE) assumes mining by In-Situ Recovery (ISR) methods and is reported at a cut-off grade of 200 ppm U3O8 and a minimum grade thickness (GT) of 0.2 per mineralised horizon as:

1.32 million tonnes of mineralisation at an average grade of 570 ppm U3O8 for 1.66 million pounds of U3O8 contained metal.

In addition, an initial Exploration Target has been defined for both the Great Divide Basin prospects (excluding the MRE areas) as well as the Lo Herma Project in the Powder River Basin (Table 1). An initial Exploration Target Range for the Great Divide Basin Project of between 6.6 to 8.1 million tonnes at a grade range of between 420 ppm to 530 ppm U3O8 containing an estimated 6.1 to 9.5 million pounds of U3O8. The potential quantity and grade of the Exploration Target is conceptual in nature and there has been insufficient exploration to estimate a JORC-compliant Mineral Resource Estimate. It is uncertain if further exploration will result in the estimation of a Mineral Resource in the defined exploration target areas.

The initial Exploration Target Range for the Lo Herma Project of between 7.3 to 9.0 million tonnes at a grade range of between 500 ppm to 700 ppm U3O8 containing an estimated 8.1 to 13.9 million pounds of U3O8. The potential quantity and grade of the Exploration Target is conceptual in nature and there has been insufficient exploration to estimate a JORC-compliant Mineral Resource Estimate. It is uncertain if further exploration will result in the estimation of a Mineral Resource in the defined exploration target areas.

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