Okapi Acquires Maybell Uranium Project in Colorado, USA

Okapi Resources Limited (ASX: OKR) (Okapi or the Company) is pleased to announce that it has completed the staking of 468 federal unpatented mining claims covering 3,600 ha to acquire the Maybell Uranium Project in Colorado, USA. Okapi has secured a significant portion of the Maybell mineralised trend, which includes the area of historical production and other known mineralised occurrences and prospects. Based on the historical production and exploration data there is significant potential for the further delineation and discovery of near surface uranium resources at the Maybell Uranium Project.

Highlights

• Okapi staked 468 claims covering 3,600 ha to acquire the Maybell Uranium Project in Colorado,USA
• The Maybell district has historical production of 5.3 Mlb of U3O8 at an average grade of 1,300ppm¹
• Maybell is amenable to heap leach extraction and potentially in-situ recovery(ISR)
• Okapi is in the process of data accumulation and compilation and planning future exploration to determine the potential of developing shallow open pit ore bodies

Okapi’s Managing Director, Mr Andrew Ferrier said:

“We are excited by the opportunity to acquire the Maybell Uranium Project in Colorado, USA. This adds another uranium asset to Okapi’s North American portfolio. Completing the Maybell Uranium Project acquisition clearly exhibits the strength of the management team to identify and acquire highly prospective uranium projects in the USA.

Staking the Maybell Uranium Project is directly on strategy for Okapi who are looking to acquire assets in the right circumstances with the aim of expanding the portfolio and providing shareholders with a diversified exposure to uranium in North America. We continue to believe that the uranium space is in an upward trend and Okapi is currently assembling and developing the right portfolio of assets to create value for shareholders.”

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