GTI Energy Verifies Historical Data, Upside for +10Mlb Wyoming Uranium Mine as Nuclear Reawakens

• GTI Energy is exploring for uranium in Wyoming, near established miners like Ur-Energy and Energy Fuels
• Recently conducted confirmation drilling which verified historical drill data and mineralization
• Looking to delineate 10+ million pounds of U3O8 to support central processing plant with ~$75-100 million capex
• Sees potential for very attractive project economics with $30-50/lb free cash flow at conservative uranium prices
• Actively working to attract more investor attention in the US to fund further exploration and development

Advancing Uranium Exploration in Wyoming

Perth-based GTI Energy (ASX:GTR) has its sights set firmly on bringing a new uranium mine into production in Wyoming's prolific Powder River Basin. With high-grade projects located amongst established producers like Ur-Energy and Energy Fuels, GTI is looking to delineate sufficient resources to support a centralized processing facility.

"We probably want to be closer to 10 million pounds to be able to build a central processing plant," stated Bruce Lane, Executive Director of GTI Energy, in a recent interview. "The capex for that we think would be in the region of maybe $75-100 million, including some of the infrastructure costs."

Having consolidated an extensive historical database of over 1,700 drill holes in the district, GTI has already outlined 5.7 million pounds of U3O8 resources amenable to low-cost in situ recovery (ISR) mining. Recent confirmation drilling verified grades and thicknesses from 1970's-era holes, providing confidence to continue expanding resources along trend and at depth.

Interview with Executive Director, Bruce Lane

"The good news is we were able to verify those holes and got the results we expected so that was a big tick," noted Lane regarding the confirmation program. "We also found that there's a deeper part of that formation that we didn't realize was mineralized in some sections that we drilled."

With uranium prices on the rebound amid growing recognition of nuclear power's role in global decarbonization, GTI aims to demonstrate sufficient scale at their Wyoming projects to support a centralized ISR processing plant. The capital intensity of such facilities encourages consolidation amongst smaller project portfolios.

"If we think we can put up a plant for $75-100 million then the economics of these things look really really attractive and that's why there's six or seven of them in the neighborhood," Lane explained.

GTI can look to neighboring operations to gauge potential economics. Ur-Energy's Shirley Basin project hosts 8.8 million pounds at an all-in sustaining cost of $30-35 per pound U3O8. Energy Fuels' Nichols Ranch facility is licensed for 5 million pounds per annum. Nearby expansions and contract prices around $60 per pound suggest significant margins despite relatively low uranium grades.

Lane remains confident of robust project economics should resources continue growing. "You can do a million pounds a year or even 500,000 pounds a year – the economics are very, very attractive."

With the confirmation program de-risking the historical data sets which led GTI to stake their Wyoming claims, the small explorer now turns its attention to adding pounds and delineating an initial 10 million pound resource inventory. Additional drilling is planned along trend and at depth within GTI's existing tenure as well as on recently acquired ground.

"We've got more drilling programs planned," stated Lane. "We'd like to be drilling not only on our Lo Herma project to increase the size and confidence of the resource, we'd also like to drill on our Green Mountain project."

While equity financing remains an option to fund those plans, GTI is actively exploring alternative avenues to support their ambitious growth strategy. This includes strengthening ties with North American institutional investors familiar with the resurgent uranium sector.

"We'll be doing some things through the course of the next month or two to help bolster our position in the US on the ground," revealed Lane. "Be more active in the community and it's not just the investment community, it's our peers, it's our neighbors, it's the industry more broadly."

With looming supply shortages as the world pursues net zero emissions, Wyoming's permitted ISR capacity looks increasingly strategic. GTI Energy controls prime development ground and is actively working towards production amidst this backdrop. Assuming delineation drilling confirms sufficient scale, the economic case supporting central processing points towards exciting upside for early-stage investors.

The Investment Thesis for GTI Energy

• Flagship Lo Herma project hosts 5.7M lbs U3O8 already, minimally drilled with strong expansion potential
• Strategic Wyoming location amongst established ISR uranium producers with central plant infrastructure
• Confirmation drilling verifies grades/thicknesses from historical drill data, de-risking additional growth
• 10M+ lb resource target would support $75-100M centralized processing plant with robust project economics
• Active drilling program planned to continue expanding resources ahead of development decision
• Strengthening marketing and awareness with North American institutional investors

With historical drill data now verified by recent confirmation drilling, GTI Energy is poised to aggressively expand uranium resources on its strategically located Wyoming tenure. Delineation of 10 million pounds or greater would support centralized ISR processing with the potential to generate robust margins even at conservative long-term uranium prices. Near-term drilling aimed at growing Lo Herma and other projects provides investors commodity leverage amid the global nuclear resurgence.