Resources Reporting Johannesburg November 2014
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2 Project 1 Geological type : Intrusive Reported resources (in place) Indicated resources : Inferred resources : %U tu@ 0.035%U Feasibility study: Mining method: Open-pit Process: Heap-leaching Total recovery: 75% Cost: USD120/kgU
3 Project 2 Geological type: Calcrete Reported resources (in place) Indicated resources: Inferred resources: %U tu@ 0.02%U Feasibility study: Mining method: Open-pit Process: Heap-leaching Total recovery: 85% Cost: USD200/kgU
4 Project 3 Geological type: Sandstone Reported resources (in place) Inferred resources: %U No feasibility study Expected mining method: Expected process: Open-pit Conventionnal
5 Project 4 Geological type: Sandstone Reported resources (in place) Inferred resources: %U3O8 No feasibility study Expected mining method: ISL Expected process: Acid
6 Reasonably assured conventional resources by production method Production method 40/kgU 80/kgU 130/kgU 260/kgU Recovery factor Underground mining (UG) Open-pit mining (OP) In situ leaching acid In situ leaching alkaline Co-product and by-product Unspecified Total
7 Reasonably assured conventional resources by processing method Processing method 40/kgU 80/kgU 130/kgU 260/kgU Recovery factor Conventional from UG Conventional from OP In situ leaching acid In situ leaching alkaline In-place leaching* Heap leaching** from UG Heap leaching** from OP Unspecified Total
8 Reasonably assured conventional resources by deposit type Deposit type 40/kgU 80/kgU 130/kgU 260/kgU Proterozoic unconformity Sandstone Polymetallic Fe-oxide breccia complex Paleo-quartz-pebble conglomerate Granite-related Metamorphite Intrusive Volcanic-related Metasomatite Surficial Carbonate Total
9 Inferred conventional resources by production method Production method 40/kgU 80/kgU 130/kgU 260/kgU Recovery factor Underground mining (UG) Open-pit mining (OP) In situ leaching acid In situ leaching alkaline Co-product and byproduct Unspecified Total
10 Inferred conventional resources by processing method Processing method 40/kgU 40/kgU 40/kgU 40/kgU Recovery factor Conventional from UG Conventional from OP In situ leaching acid In situ leaching alkaline In-place leaching* Heap leaching** from UG Heap leaching** from OP Unspecified Total
11 Inferred conventional resources by deposit type Deposit type 40/kgU 80/kgU 130/kgU 260/kgU Proterozoic unconformity Sandstone Polymetallic Fe-oxide breccia complex Paleo-quartz-pebble conglomerate Granite-related Metamorphite Intrusive Volcanic-related Metasomatite Surficial Carbonate Total
12 Conversion to metric 1% U3O8 = 0.848% U 1 t U3O8 = tu Project % U3O8 = % U
13 Recovery factor Project 1: Open-pit / HL 75% Project 2: Open-pit /HL 85 % Project 3: Open-pit / Conventional 80 % Project 4: ISL Acid 75 %
14 Recoverable Resources Project 1: Indicated Resources: Inferred Resources: tu x 0.75 = tu tu x 0.75 = tu Project 2: Indicated Resources: Inferred Resources: tu x 0.85 = tu tu x 0.85 = tu
15 Recoverable Resources Project 3: Inferred Resources: tu x 0.80 = tu Project 4: Inferred Resources: tu x 0.75 = tu
16 Cost category Project 1: Project 2: Project 3: Project 4: USD / kgu USD / kgu USD / kgu USD / kgu
17 Resources category
18 Reasonably assured conventional resources by production method Production method Underground mining (UG) Open-pit mining (OP) In situ leaching acid In situ leaching alkaline Co-product and by-product 40/kgU 80/kgU 130/kgU 260/kgU Recovery factor Unspecified Total
19 Reasonably assured conventional resources by processing method Processing method Conventional from UG Conventional from OP In situ leaching acid In situ leaching alkaline 40/kgU 80/kgU 130/kgU 260/kgU In-place leaching* Heap leaching** from UG Heap leaching** from OP Recovery factor Unspecified Total
20 Reasonably assured conventional resources by deposit type Deposit type 40/kgU 80/kgU 130/kgU 260/kgU Proterozoic unconformity Sandstone Polymetallic Fe-oxide breccia complex Paleo-quartz-pebble conglomerate Granite-related Metamorphite Intrusive Volcanic-related Metasomatite Surficial Carbonate Total
21 Inferred conventional resources by production method Production method 40/kgU 80/kgU 130/kgU 260/kgU Recovery factor Underground mining (UG) Open-pit mining (OP) In situ leaching acid In situ leaching alkaline Co-product and byproduct Unspecified Total
22 Inferred conventional resources by processing method Processing method 40/kgU 40/kgU 40/kgU 40/kgU Recovery factor Conventional from UG Conventional from OP In situ leaching acid In situ leaching alkaline In-place leaching* Heap leaching** from UG Heap leaching** from OP Unspecified Total
23 Inferred conventional resources by deposit type Deposit type 40/kgU 80/kgU 130/kgU 260/kgU Proterozoic unconformity Sandstone Polymetallic Fe-oxide breccia complex Paleo-quartz-pebble conglomerate Granite-related Metamorphite Intrusive Volcanic-related Metasomatite Surficial Carbonate Total
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