Norasa

Combined uranium development project comprising the Valencia (Main, East, West, South, and Jolie Zone) and Namibplaas deposits. Located approximately 75 km southwest of Usakos in central-west Namibia, accessed via a 28 km industrial gravel road from the B2 Highway; power to be supplied via a planned 220 kV transmission line from the Khan Substation, with water options including the Erongo desalination plant. Property covers ML 149 (735.6 ha) and EPL 3638 (1,266 ha) on privately held farmland, secured by long-term compensation and lease agreements. Hosted in late-magmatic alaskite intrusions within the Central Zone of the Damara Orogen. Originally discovered in 1973 by Trekkopje Exploration; Forsys commenced drilling in 2006. Metallurgical testwork supports a heap leach processing route utilizing high-pressure grinding rolls, achieving up to 87% uranium extraction. 2025 drilling program focused on infill and step-out drilling at Valencia Main, West, and Jolie zones to upgrade resources to Measured and Indicated categories. Flagship Namibian uranium asset.