Lost Soldier Project – Great Divide Basin, Wyoming

Our Lost Soldier uranium project is located approximately 17 miles to the northeast of the Lost Creek Project, as shown in Figure 1. Lost Soldier has approximately 4,000 historical drill holes defining 14 mineralized sandstone units. We control 105 unpatented mining claims at Lost Soldier, totaling approximately 1,960 mineral acres. We anticipate that further technical work on Lost Soldier will be completed as we expand exploration and development of projects outside the Lost Creek and Shirley Basin properties.

North Hadsell Project - Great Divide Basin, Wyoming

The North Hadsell Project is located approximately three miles west of Lost Soldier and 10 miles north of Lost Creek, and includes 203 unpatented mining claims covering about 3,970 mineral acres. The Project is underlain by the same uranium-bearing geologic formation as Lost Soldier and Lost Creek. While some historical drilling is known in the area, the related data are largely unavailable. An exploration work program commenced in late 2025.

Lucky Mc Mine Site - Gas Hills Mine District, Wyoming

As a part of the Pathfinder Mines acquisition in 2013, we now own the Lucky Mc mine site in the Gas Hills mining district of Wyoming, from which Pathfinder and its predecessors historically produced more than 46.7 million pounds of uranium, primarily from the 1960s through the 1990s. Pathfinder’s predecessors included COGEMA, Lucky Mc Uranium Corporation, and Utah Construction/Utah International. Lucky Mc conventional mine operations were suspended in the 1990s due to low uranium pricing, and facility reclamation was substantially completed.

Excel Gold Project - Excelsior Mountains, Nevada

Our first gold exploration project is the Excel Project, located in west-central Nevada. The project currently comprises 114 federal lode mining claims (approximately 2,600 acres). The project is located within the Excelsior Mountains, in proximity to the Camp Douglas and Candelaria Mining Districts. We identified the mineral potential of this project area from exploration data acquired through our purchase of Pathfinder Mines. Historic exploration programs conducted by Pathfinder in the area of the Excel Project encountered high-grade gold and silver assays. Our initial land acquisition activities were complete in 2018, after which rock sampling and geochemical soil sampling programs were conducted. Since securing the land position, we have conducted additional work at the project on a time-to-time basis and expect to continue to sample and conduct additional exploration activities.