Quarterly Report for the Period Ending 30 September 2022

Aura Energy Limited (ASX:AEE, AIM:AURA) (“Aura” or “the Company”) a company focused on the fast-tracked development of its Tiris Uranium Project in Mauritania, is pleased to provide an overview of activities for the period ended 30 September 2022 (“Quarter” or “Reporting Period”) to accompany the Appendix 5B.

• Appointment of David Woodall as Managing Director and Chief Executive Officer (effective 17 October 2022), contributing over 30 years of international mining experience across technical, managerial, consulting, executive and director roles.
• Acting CEO, Dr Will Goodall accepted the role of Chief Operating Officer, effective 17 October 2022.
• Resource upgrade drilling program at Tiris Uranium Project in Mauritania proceeded on schedule, with targeted completion in Q4 CY22.
• Engineering Consultants engaged for Phase 1 of Tiris Uranium Front End Engineering Design (“FEED”) study and work completed by Wallbridge, Gilbert and Aztec (WGA) on leaching, ion exchange and purification plant, with final report from SENET on beneficiation circuit and infrastructure expected Q4 CY22.
• Key Management Plans for authorisation of uranium production and export for Tiris Uranium Project submitted to National Authority for Radioprotection, Safety and Nuclear Security (“ARSN”) in Mauritania
• Aura Energy met with local government and community in Zouerat, Tiris Zemmour region to discuss community engagement strategies.
• Continued discussions with nuclear utilities and traders to secure additional uranium offtake contracts for the Tiris Phase 1 Fast Track Project.
• Swedish election occurred on 11 September with energy security a primary issue, and Aura acknowledging the results of the Swedish parliamentary election, congratulating the newly elected members, and committing to work positively with a future government on the development pathway for its Häggån project.

High-level Summary

The Quarter represented a period of significant progress as Aura continued to move towards major milestones in the planned development of the 800k lb U3O8 per annum Phase 1 Tiris Uranium Project (“Tiris”, “Fast-track Project”, or the “Project”) and develop potential for the expansion of the Tiris Resource Estimate to support increased production in Phase 2.

The Company was very pleased to announce the appointment of, and welcome, David Woodall as Managing Director and Chief Executive Officer effective 17 October 2022. Mr Woodall is a senior, corporate executive with a mining engineering qualification with over 30 years’ experience across exploration, operations, project development, community alignment and engagement in the mineral resources industry, including rare earths, critical minerals, gold, copper, iron ore and nickel.

Aura’s Acting CEO, Dr Will Goodall accepted the role of Chief Operating Officer, effective 17 October 2022.

Drilling continued for the Tiris Resource Upgrade Program, with the diamond drilling component completed with a total of 430m drilled across 66 holes. Drill core was shipped for cutting and preparation in Nouakchott and samples delivered to ALS Ireland for validation assays.

The air core drilling continued throughout the Quarter, with a total of 9,732m drilled in 1,543 holes to a depth of 7m. At the end of the Quarter 288m air core drilling remained for completion of the program.

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