Ann: Soil Program Completed at Phillips River Li Project, page-93

Even with the current rules which are looking likely to change in the next 18 months this inferred 3.3Mlb Uranium resource is worth multiples of our market cap imo ...check out CXU market cap.

From CXU Uranium mining mostly a State based issue (although Federal approval required to export) • In 2017 WA introduced a new policy banning new uranium mines, Cauldron Yanrey project affected • WA Liberals previously allowed uranium mining and are known to be supportive of a removal of the current ban • Since McGowan left office, popularity of incumbent WA Labor government has decreased significantly. • Look at the SportsBet odds for a change in Government at next election (scheduled March 2025) – they have improved dramatically from McGowan / Covid days! • Recent polling released shows Labor in difficulty in WA • As a change in Government becomes more probable, probability weighted value of Yanrey should increase • Already seeing renewed investor interest looking to position for the eventual change vs the uranium bull market which is expected to continue for many years
Sentiment in the uranium market is very strong; with investors scouring the globe for exposure in western friendly countries.