GTI Activities Report, December Quarter 2023

GTI Energy Ltd (ASX: GTR) (GTI or Company) is pleased to report on its activities during the December quarter.

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• Initial 26-hole drilling program completed on time & on budget at Lo Herma
• Results verified the historical Lo Herma drill hole database
• Lo Herma exploration potential confirmed along trend in the Wasatch Formation and at depth in the Fort Union Formation
• 28 new claims staked at Lo Herma show promising exploration potential in the deeper Fort Union Formation which Cameco produces from ~10 miles east.
• Positive results from airborne Magnetic & Radiometric Survey at Green Mountain
• 12 miles (19km) of anomalous uranium trends interpreted from airborne survey
• 6 prominent uranium anomalies identified across the Green Mountain Project
• 28 additional claims staked at Green Mountain, based on results of the geophysical surveys, bringing the total holdings to 697 claims for ~14,000 acres
• Matt Hartmann appointed President US Operations with over 20 years of global mineral exploration, project development & commercial experience with significant track record in ISR uranium through the entire project life-cycle
• Planning underway for 2024 expanded drill program at Lo Herma

LO HERMA ISR PROJECT EXPLORATION AND ADDITIONS TO LAND POSITION

During the quarter the Company advised that the initial drilling program had been completed at its 100% owned Lo Herma ISR Uranium Project (Lo Herma), located in Wyoming’s prolific Powder River Basin (Figures 1 & 2). Twenty-six (26) drillholes were advanced, totalling 4,250m (14,000 ft), with operations finalised on 11 December 2023 having been completed on time and on budget.

This initial drill program successfully validated the historical data package, used in preparing the Mineral Resource Estimate (MRE) for Lo Herma, through comparative analysis of stratigraphy & mineralised intercepts from new drill holes collocated with historical drill holes. Additional drill hole locations tested extensions of known mineralised trends and informed on redox conditions across several host sands to help refine and develop an expanded drill program planned at Lo Herma for 2024. These exploration holes confirmed the previously interpreted exploration potential at Lo Herma.

In addition, the Lo Herma land package was expanded through staking of 28 additional claims in December to cover extensions of interpreted trends as defined by the acquired historical data package. The historical data package includes several drill holes within the 28 new claims which contain mineralisation in a deeper Fort Union formation host sand. GTI is currently evaluating how the new claims and data impact the exploration target for the property and 2024 drill plans.

The Lo Herma ISR Uranium Project (Lo Herma) is located in Converse County, Powder River Basin (PRB), Wyoming (WY). The Project lies approximately 15 miles north of the town of Glenrock and within ~60 miles of five (5) permitted ISR uranium production facilities. Facilities include UEC’s Willow Creek (Irigaray & Christensen Ranch) & Reno Creek ISR plants, Cameco’s Smith Ranch-Highland ISR facilities & Energy Fuels Nichols Ranch ISR plant. The PRB has extensive ISR production history with numerous ISR uranium resources, central processing plants (CPP) & satellite deposits (Figure 1).

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