Uranium Developer GTI Energy Focused on Revitalizing Wyoming's Historical ISR District

• GTI Energy is focused on developing insitu recovery (ISR) uranium projects in Wyoming, with their flagship project being the Lo Herma project in the Powder River Basin.
• Lo Herma Hermer has an inferred resource of 5.7 million pounds of U3O8 at an average grade of 630 ppm, which is considered commercial grade in the Powder River Basin.
• GTI Energy plans to start drilling at Lo Herma soon to verify historical drill data, test mineralization trends, and explore the deeper Fort Union formation.
• The company believes Lo Herma has the potential scale and grade to be a producing asset, with a target of up to 10 million pounds. Consolidation with other developers in the region could help accelerate development.
• GTI Energy's extensive historical data on Lo Herma differentiates them from other new entrants to the uranium space and provides confidence in the asset's potential.

About GTI Energy

Australian-based GTI Energy is emerging as a new player in the uranium space, focused on bringing historic insitu recovery (ISR) uranium deposits in Wyoming back into production to help supply the growing demand for uranium in the United States. Led by a management team with decades of experience in the uranium sector, GTI Energy has assembled a portfolio of past-producing uranium assets in Wyoming's Great Divide Basin and Powder River Basin. The company's flagship project is the Lo Herma project in the Powder River Basin, which contains an inferred resource of 5.7 million pounds of U3O8 at an average grade of 630 ppm.

In a recent interview, GTI Energy Executive Director Bruce Lane provided insights into the company's projects and strategic focus as a new entrant aiming to revitalize Wyoming's historical ISR uranium district.

Interview with Executive Director, Bruce Lane

Strong Team Exploring Assets in a Top Tier Mining Jurisdiction

With extensive experience across resource companies and past involvement in uranium specifically, Lane expressed a strong belief in uranium's role in the energy mix. This led the GTI team to begin exploring project opportunities in Wyoming in 2018, as the thematic of energy transition and net zero emissions gained momentum globally.

Lane explained Wyoming's attractiveness for uranium: "We were always looking for insitu recovery projects and particularly in Wyoming...once again through conversations and contacts we found the Lo Herma Project in the Powder River Basin. Uranium exploration projects, pretty much anywhere in the world, but particularly in the US, was deader than a doornail for a long time and no one was really interested in these projects."

Wyoming is considered one of the top jurisdictions globally for mining investment, with a long history of uranium production. The state produced over 100 million pounds of U3O8 historically through ISR mining before operations ceased in the 1990s due to depressed uranium prices. Several projects are now coming back online, including Energy Fuels' Nichols Ranch.

Lo Herma's Positioning and Exploration Potential

GTI Energy's Lo Herma project is located in Wyoming's Powder River Basin, adjacent to Ur Energy's producing Lost Creek project and amid several other producing or advancing ISR projects. With extensive historical drilling, Lo Herma benefits from a substantial database that GTI digitized into a modern format, enabling quicker and lower-cost exploration of the deposit.

Lane summarized the historical resource delineated at Lo Herma: "We declared a resource of 5.7 million pounds at an average grade of around 630 PPM which we know is production-grade in both the Powder River and the Great Divide Basin - that's perfectly viable for production."

The company sees potential for Lo Herma's resource to grow considerably larger, with an exploration target of up to 10 million pounds identified. According to Lane, Lo Herma's grades fit comfortably within the typical commercial range for ISR uranium projects in the Powder River Basin: "If you look at the neighboring projects, in both the Great Divide and in the Power River the Basin, there's a range of grade that uranium is being produced from. Around sort of the 400s, and as high as 1,000ppm or 1,100ppm, or even slightly higher. It's really a case of what the grade thickness is and what the porosity is of the projects."

Upcoming drilling will help verify historical data and test the project's exploration potential, both along trend and at depth in the untested Fort Union formation. Lane explained: "The other thing is we want to test are some of the trends, and at some depth for additional mineralization. We've got plenty of roll fronts interpreted on the project to the North and the South, and they do curl around a bit. We've also got a formation below us called the Fort Union formation. Now the historical drilling was down to only about 300ft or 400 ft, so that's in the Wasatch formation in Wyoming which is also a very productive formation."

Fast Track to Production in a Tightening Market

With demand for uranium rising amid the global energy crisis while supply fails to keep pace, the uranium market is expected to enter a period of sustained deficit in the coming years. This has triggered a wave of investor interest, with the uranium spot price climbing back towards $50/lb from lows around $18/lb in 2017. Amid this tightening market backdrop, GTI aims to fast-track Lo Herma to production to capitalize on higher prices. According to Lane, the straightforward permitting pathway and modest capital requirements for ISR uranium projects in Wyoming provide confidence in this strategy.

Lane suggested initial capital costs for a 1 million lb/year ISR operation could be around $75 million, noting: "We were trying not to get too far ahead of ourselves. Clearly, we need to prove that there's an asset there of value and that gives us our future. Consolidation has already been taking place in the industry and I don't see that changing going forward."

With several ASX-listed uranium developers focused on Wyoming, consolidation is expected as projects look to accelerate scale and permitting timeframes. Lo Herma's advanced exploration status and proximity to producing mines puts it in a prime position to attract interest.

The Investment Thesis for GTI Energy

• Experienced uranium team with a focus on revitalizing historically prolific Wyoming ISR district
• Flagship Lo Herma project has a clear path to fast production given modest capex and straightforward permitting
• Existing inferred resource of 5.7Mlbs with exploration target up to 10Mlbs demonstrates scale potential
• Upcoming drilling aims to expand resources ahead of preliminary economic assessment
• Consolidation potential with nearby producing ISR mines could accelerate development
• Attractive entry point to benefit from expected uranium bull run as demand outpaces supply

GTI Energy presents a unique opportunity to gain exposure to a historical uranium district on the cusp of a revival, under the stewardship of an experienced team poised to capitalize on rising uranium prices. With exploration underway to unlock resources at the flagship Lo Herma project, investors have a chance to position in a nascent uranium developer with visible near-term share price catalysts and long-term exposure to the mounting global uranium supply shortfall.