Completion Of Successful Drilling Campaign At Muntanga Project

VANCOUVER - GoviEx Uranium Inc. has concluded an extensive drilling program in support of its ongoing feasibility study at its wholly owned, mine permitted Muntanga Uranium Project in Zambia. This field work was conducted following a successful drilling program in 2022, which resulted in an updated increased mineral resource estimate (MRE).

In the second half of 2023, the Company conducted a total of 15,835 metres of infill drilling, covering 160 holes mostly at the Dibbwi East and Muntanga deposits, with the objective to further upgrade the mineral resource category in areas previously categorized as inferred, mostly due to drill hole spacing and expansion of the Dibbwi East mineral resource open pit. The results of the current infill drilling program indicate potential for conversion of mineral resources from the inferred into the indicated categories. The updated MRE resulting from the 2023 drilling will be reported as part of the forthcoming feasibility study in 2024.

Daniel Major, CEO, said, ”We are very pleased with the results of recent infill drilling campaign which indicates strong potential for conversion of more mineral resources from the inferred into the indicated categories, which would mean these upgraded mineral resources can be included in the upcoming feasibility study, increasing the size and quality of the project. With uranium prices strengthening, we are continuing to progress with the development of the Muntanga project and looking forward to delivering a feasibility study next year with a goal to start producing within two years of securing financing."