Aura Energy Limited provided an update on the development activities at the Tiris Uranium Project in Mauritania, West Africa. Aura is very pleased to announce that it has received from the Mauritanian Government the last outstanding material permit to allow the construction and operation of the Tiris Uranium Project. The authorisation to develop, mine and produce Uranium Oxide Concentrate was issued by the National Authority for Radiation Protection, Safety and Nuclear Security (L'Autorité Nationale de Radioprotection de Sûreté et de Sécurité Nucléaire on the 12 July 2024.

This is the last material license required to commence construction, mine and produce uranium from Tiris and is a very significant step towards achieving a Final Investment Decision by first quarter 2025. Approvals for the export of uranium will be granted as part of a routine export monitoring program and in accordance with international safeguards for monitoring the movement of radioactive materials. There are no limits on the volumes of future uranium production, which will allow significant flexibility for the operation including the potential for future expansion of production rate beyond 2Mlbs pa U3O8.

Production rates are currently being investigated on the back of the significant 55% increase in Mineral Resources to 91.3Mlbs U3O8 announced last month. The Company has contracted a major international company specialising in the transportation of radioactive materials for the future seaborne transportation of UOC produced from Tiris to international converters. In a strong show of support for the Company and the development of Tiris, the Mauritanian Government - by order of Prime Minister Mohamed Ould Bilal an inter-ministerial committee has been formed to facilitate and support the development of Tiris and the uranium mining industry in Mauritania.

The committee will be headed by ARSN and will be a central point of contact for all ministries to facilitate and support the rapid development of the future Tiris Uranium Mine. Progress at Tiris is developing rapidly.