Slick Rock — project

Underground uranium and vanadium project located in the southern end of the Uravan mineral belt. Located in San Miguel County, Colorado, approximately 23.9 miles north of Dove Creek and east of the Dolores River. Property comprises 268 mineral lode claims encompassing approximately 4,976 acres, with certain claims subject to 1% to 3% royalties. Colorado Plateau-style uranium/vanadium mineralization hosted by the Upper Jurassic Morrison Formation. Acquired from Uranium Energy Corp. in an asset swap transaction in April 2022; the Slick Rock District historically produced 2.2 Mlb U3O8 and 13.9 Mlb V2O5. May 2023 PEA (combined with Velvet-Wood) outlines a conventional random room and pillar underground mine operation with material hauled to the Shootaring Canyon Mill. 14-hole verification drilling program completed in early 2025.