QX Resources Limited Remaining Exploration Licences Granted at Madaba Project

Sydney, Australia (ABN Newswire) - QX Resources Limited (ASX:QXR) announced that the Company has been granted the two remaining exploration licences by Tanzania's Ministry of Minerals' Mining Commission, covering the Madaba Uranium Project (Madaba or the Project), located within the highly prospective Luwegu Basin, southern Tanzania.

HIGHLIGHTS

- Exploration licences (PL 13743/2026 & PL 13847/2026) have been officially granted by Tanzania's Ministry of Minerals' Mining Commission.

- With all three licences now granted, the Company awaits the final documents to permit the commencement of the high-resolution heli-borne radiometric survey at the Madaba uranium project.

- Environmental consultants with prior involvement on the Madaba uranium project have been formally engaged to commence environmental impact assessment (EIA) work.

- An approved EIA will enable QX to undertake its maiden drilling program at Madaba, targeting early Q3 2026 commencement.

- Following the Company's recent well-supported capital raising, QX is well-funded to complete the radiometric survey and the planned drill program.

The granting of PL 13743/2026 & PL 13847/2026 was a key requirement for the Company to receive final documentation to enable the commencement of the high-resolution heli-borne radiometric survey at Madaba. The Company anticipates approval in the coming weeks.

Following management's recent visit to Tanzania, the Company has formerly appointed experienced Tanzanian environmental consultants, Paulsam Geo-Engineering Company Ltd (PaulSam), for the delivery of an environmental impact assessment (EIA) at Madaba. PaulSam were previously engaged by Olympic Exploration Limited, prior holders of the Madaba project, and were responsible for Olympic's approved EIA in 2016.

Post receipt of an approved EIA, QX intends to undertake the first drilling program at the Madaba project since the early 1980s.

About QX Resources Ltd:

QX Resources Limited's (ASX:QXR) strategy is built on unlocking high-value energy and battery minerals to power the globe. We focus on identifying, acquiring, and developing assets with strong geological potential and strategic relevance to the energy storage supply chain. We focus on identifying, acquiring, and developing assets with strong geological potential and strategic relevance to the energy storage supply chain.

Source:
QX Resources Ltd

Contact:
Maurice Feilich
Executive Chairman
M: 0411 545 262