Ann: Mtonya Uranium Deposit Tanzania, page-2

Gladiator has received drilling and estimation data for the Mtonya deposit which is in southern
Tanzania on the Company’s Mjuku Uranium Project and is partly exposed at surface.
• The Mtonya deposit has a foreign estimate of 2.95 Mt with an average grade of 293 ppm U 3O8
containing 1.9 Mlbs of U3O8 1
, reported March 1, 2013, by Uranium Resources Plc under NI 43-101.
• The deposit is 25km from the Company’s Likuyu North deposit which has a JORC Code reported
Mineral Resource Estimate (MRE) (Refer ASX Announcement 29 April 2022 Likuyu North Mineral
Resource Estimate) of 7.7 Mt with an average grade of 267 ppm U3O8 containing 4.6 Mlbs U 3O8, in the
Inferred and Indicated classification categories.
• The Company intends to carry out a detailed review of Mtonya database with a view to reporting in
accordance with the JORC Code and to establish areas where it is reportedly ‘open’ for potential
expansion.
• Roll-front uranium deposits are one of the most important uranium deposit types globally due to their
typically large size and amenability to ISR. Mtonya demonstrates that roll-front uranium deposits are
present on the Project. Over 90% of the Project area is underlain by the prospective geological series.
• The Company is gearing up to start exploration efforts aimed at expanding the existing deposits and
identifying new zones with roll-front or the tabular deposit type which hosts Likuyu North.
Gladiator Resources Ltd (ASX: GLA) (Gladiator or the Company) is pleased to provide the following update
for activities undertaken by its wholly owned subsidiary Zeus Resources (T) Limited (Zeus) at its Mkuju
Uranium Project (the Project) located in Tanzania.
Gladiator Resources Chairman Ian Hastings commented:
“The Company is very pleased to finally receive the historical drilling and estimation data for the Mtonya
deposit and has asked the MSA Group to review the database and advise on the necessary work to
potentially report it in accordance with the JORC Code. The Mtonya deposit adds to the Company’s
nearby Likuyu North deposit and with the several drill-ready prospects provides opportunity for the
Company to quickly build a significant uranium asset. The Company is preparing for the exploration
program for this valuable uranium opportunity.”
1 Cautionary Statement: The estimate of mineralisation at Mtonya is a “foreign estimate” as defined by the ASX
Listing Rules, and accordingly:
- The estimates are not reported in accordance with the JORC Code;
- The Competent Person has not done sufficient work to classify the foreign estimates as mineral resources in
accordance with the JORC Code; and
- it is uncertain that following evaluation and/or further exploration work that the foreign estimates will be able to
be reported as mineral resources in accordance with the JORC Code.
- Full disclosures required by Listing Rule 5.12 are contained in Appendix 1 of this announcement.