Aura Energy Limited (AEE:ASX, AURA: AIM) Exploration Licence Granted

Aura Energy Limited (AEE:ASX, AURA: AIM) is pleased to announce the successful achievement of a key project development milestone with the grant of the Tiris Uranium Project Exploitation Licence.

The licence a major step forward for the company and is the precursor to the full development of the Tiris Uranium Project.

The grant of this licence follows an exhaustive process including Aura’s comprehensive Environmental and Social Impact Assessment (ESIA) and included a comprehensive process of Ministerial and Public consultations regarding the impact of the development of Tiris Project. This Exploitation Licence has been finalised in line with the target schedule for the project.

Commenting on the grant of the Exploitation Licence, Peter Reeve, Aura Energy’s Executive Chairman said “We have referred to the Tiris Uranium Project as currently one of the most compelling uranium development projects in the world and this grant today provides more confidence that Aura will soon be a producer. Aura is thankful for the strong support of the Mauritanian Government as they will share in the benefits of the project when Tiris achieves production and cashflow. Aura continues to pursue production offtake and project financing arrangements and expects the Project to be well positioned to take advantage of the rising uranium price.”

Aura expects to receive the executed Presidential Decree approving the Exploitation Licence before the end of the year.

Figure 1. Mining of Bulk Samples at the Tiris Uranium Project

Aura had previously announced the successful completion of the Tiris Uranium Project Resource upgrade with the results exceeding expectations with an increase in the overall resource to 52 million lbs U3O8 (see notes at the end this announcement). Of that 17 million pounds U3O8 was defined in the Measured and Indicated Categories showing good resource continuity and a contribution from the new Hippolyte South exploration area.

Figure 2. Bulk Sample Pit at the Tiris Uranium Project

Table 1. Tiris Resource Inventory

(Note: Totals in Tables may not sum due to rounding)

Figure 3. Location of Aura’s Tiris Uranium Resources

Figure 4. Location of 2018 Tiris Resource Estimate Zones

Figure 5. Tiris Uranium Project Process Block Flow Diagram

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