NF 0.380 -0.020| NFUNF 0.291 +0.009|

Bootheel Project

Bootheel Project

Located in SE Wyoming, the Bootheel Project consists of roll-front mineralized zones identified in three distinct, stacked sandstone formations giving the company a more efficient opportunity for the development of resource definition. Historic metallurgical testing has indicted better than average uranium recovery kinetics and aquifer rehabilitation. A historic NI 43-101* by Scott Wilson Roscoe Postle Associates Inc. for Crosshair Exploration and Mining Corp. and Ur Energy Inc. in 2007 reports:

*Readers are cautioned that a qualified person has not done sufficient work to classify any of the historical estimates as current mineral resources or mineral reserves as defined by NI 43-101. The Company is not treating the historical estimates as current mineral resources or reserves as defined by NI 43-101. Further compilation of the historic geological and drilling data, and resource modelling will be necessary to convert the historic estimates outlined above to NI 43- 101 conforming mineral resources.  The historic resource is found in “TECHNICAL REPORT ON THE BOOTHEEL PROPERTY, SHIRLEY BASIN MINING DISTRICT, ALBANY COUNTY, WYOMING, U.S.A.  (209) by D.H Underhill and W.E. Roscoe.

Resource Criteria:

Sundance Formation >0.015% eU3O8,  >4 ft thickness, Min GT of 0.15

3Wind River Formation >0.020% eU3O8, >4 ft thickness, Min GT O.15

Long term price of US$70 per pound U3O8, Tonnage factor of 16 ft3/ton for the Sundance Formation and 15 ft3/ton for the Wind River Formation.

High grades where not cut for the Mineral Resource estimate.

The technical content of this summary has been reviewed and approved by Mark Travis, CPG., a contractor to the Company, and a Qualified Person as defined in National Instrument 43-101.

Other Assets

Bootheel Project, Wyoming

  • Roll-front mineralization occurs in three ages of sandstone.
  • Mineralization is amenable to ISR extraction.
  • Historic NI 43-101 Report7:
    • Indicated Resource of 1.443 million tons @ 0.038% U3O8 for 1.089;
    • Inferred Resource of 4.399 million tons @ 0.037% for 3.249 U3O8.