Strong Intercepts Confirm Significant Production Potential at Gould’s Dam

Boss Energy Limited (ASX: BOE; OTCQX: BQSSF) is pleased to announce high-grade drill results on theGould’s Dam satellite deposit.

Highlights

• Gould’s Dam is located ~80km northwest of the Honeymoon Mine and currently contains a JORC-compliant resource of 25Mlbs of indicated and inferred U₃0₈
• The results highlight the potential for Gould’s Dam to help lift Honeymoon’s production rate from the current nameplate capacity of 2.45M lbs a year to the Export Permit limit of 3.3M lbs a year and/or extend the mine’s useful life
• The latest drilling is targeting three key areas within the inferred resource envelope at Gould’s Dam – Sunrise, Billeroo and Beulah; The program will assist with wellfield planning and other pre-development work
• Infill and step-out drilling at Sunrise and Billeroo targets is almost complete. A total of 96 mud rotary holes have been drilled to date for 12,911m, with uranium mineralisation highlights including (PFN results, ppm pU₃O₈):
  • 4.00m @ 2,925ppm pU₃O₈GT 11,700 (WRM0151 from 122.75m)
  • 4.25m @ 2,230ppm pU₃O₈GT 9,478(WRM0109 from 120.75m)
  • 3.25m @ 1,406ppm pU₃O₈GT 4,570 (WRM0128 from 123.75m)
  • 5.25m @ 800ppm pU₃O₈GT 4,200 (WRM0099 from 117.00m)
  • 2.25m @ 1,717ppm pU₃O₈GT 3,863 (WRM0159 from 121.75m)
  • 1.25m @ 2,877ppm pU₃O₈GT 3,596 (WRM0114 from 124.50m)
  • 1.75m @ 1,990ppm pU₃O₈GT 3,483 (WRM0142 from 120.25m)
  • 3.75m @ 773ppm pU₃O₈GT 2,899 (WRM0130 from 123.75m)
  • 1.50m @ 1,855ppm pU₃O₈GT 2,783 (WRM0121 from 120.25m)
  • 4.50m @ 545ppm pU₃O₈GT 2,453 (WRM0140 from 103.25m)
  • 4.75m @ 506ppm pU₃O₈GT 2,404 (WRM0157 from 122.50m)
  • 4.75m @ 484ppm pU₃O₈GT 2,299 (WRM0143 from 123.00m)
    • plus 1.75m @ 1,294ppm pU₃O₈GT 2,265(WRM0143 from 128.50m)
  • 3.00m @ 756ppm pU₃O₈GT 2,268 (WRM0084 from 118.50m)
• Exploration will now focus on the Beulah satellite deposit where 40 holes are planned to better define the mineralisation and geological characteristics of this region
• Ongoing detailed geological and mineralisation modelling will support further development work and preparation for an ISR Mining Lease proposal at Gould’s Dam

These results support the Company’s strategy to increase the nameplate production rate and mine life at its 100 per cent-owned Honeymoon Uranium Mine in South Australia.

In light of these strong results, work has commenced on accelerating the development of Gould’s Dam, which is an important satellite project to the nearby Honeymoon Mine.

The current delineation program provides important data which will be used in wellfield planning and other advanced pre-development activity.

It will also enable Boss to complete detailed geological and mineralisation models which will support the ongoing development work and preparation for an ISR Mining Lease proposal for Gould’s Dam.

This will lead into the next phase of mine plan development, including pump testing of the mineralised aquifer within the Gould’s Dam Indicated resource (utilising monitoring wells installed during the 2023 drilling campaign) and core sample test work. This will provide important baseline hydrogeological and metallurgical characteristics of the mineralised aquifers.

Figure 1: Overview of Boss Energy tenure in South Australia.

Resource Infill Drilling Program

Three key areas within the current Inferred resource envelope at Gould’s Dam were targeted as part of this infill drilling program – namely the Sunrise, Billeroo and Beulah targets (Figure 2). Holes were logged with the Boss Energy in-house PFN tools for uranium grade characterisation, and Borehole Magnetic Resonance (BMR) tools for lithological determination.

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