• An updated resource estimate on the 100% owned Gas Hills project (Wyoming) showed a 128% increase in Measured and Indicated (M&I) resources to 10.8 Mlbs. 72% of the resource is amenable to In-Situ Recovery (“ISR”). As Gas Hills is located approximately 400 km from AZZ’s flagship Dewey Burdock project, we believe Gas Hills has potential to be a satellite operation. Note that ISR operations have significantly lower CAPEX/OPEX relative to conventional uranium operations.
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