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https://company-announcements.copyright link/asx/toe/3da27f21-515d-11ec-b528-c28f401ecae2.pdf

Review underway to identify value opportunities across Toro’s Australian uranium
portfolio which currently includes 90.9 Mlbs of contained U3O 8 (at a 200ppm U3O 8 cut-off –
see below for references)
• Toro holds significant uranium resources inside the Wiluna Uranium Project with 62.7
million pounds (Mlbs) contained U3O 8 (at a 200ppm U3O 8 cut-off – JORC 2012, refer to
ASX announcement 1 February 2016 and Appendix 1) in three deposits, Lake Maitland,
Lake Way and Centipede-Millipede
• 96% of the Resources are Measured and Indicated in the Wiluna Uranium Project (JORC
2012 – refer to table in Appendix 1)
• The U3O 8 mineralisation envelope of these three deposits also contains a Vanadium
Resource of 96.3Mt grading 322ppm V2O 5 for 68.3Mlbs of contained V2O 5 at a 200ppm V2O5
cut-off (refer to ASX announcement of 21 October 2019) which initial testwork has shown
may be utilised as a value-add by-product
• A further 28.2 Mlbs of contained U3O 8 (at a 200ppm U3O 8 cut-off) is 100% held by Toro in
three assets outside the Wiluna Uranium Project (refer to Appendix 1 and Appendix 2):
o Dawson Hinkler
 9.4 Mlbs contained U 3O 8 (at a 200ppm U3O 8 cut-off – JORC 2012 refer to ASX
announcement 1 February 2016)
o Nowthanna
 11.9 Mlbs contained U3O 8 (at a 200ppm U3O 8 cut-off – JORC 2012 refer to ASX
announcement 1 February 2016)
o Theseus
 6.9 Mlbs contained U3O 8 (at a 200ppm U3O 8 cut-off – JORC 2012 refer to ASX
announcement 5 December 2012 and information below)
 There is an Exploration Target Range (ETR) for Theseus of 28-35 Mt at 450-
520 ppm U3O 8 for 28-40Mlbs of contained U3O 8* (refer to ASX announcement
5 December 2012