Aura Energy Limited announced the commencement of a major 15,500m exploration drilling program aimed at targeting a100Mlbs U3O8 Mineral Resource at its Tiris Uranium Project in Mauritania. The programwill drill seven exploration targets in Tiris East, which the Company believes has the potential to extend the existing Mineral Resource Estimate of 113Mt at an average grade of 236ppm U3O8, containing 58.9 Mlbs U3O8 by between 30 - 60 Mt at 120 - 240 ppm U3O8 for 8 - 32 Mlbs U3O8. Since the discovery of the Tiris Uranium Project, 19,000m of drilling has been completed.

A successful outcome from this substantial program would elevate Tiris towards a globally significant uranium project. The potential quantity of the Exploration Target is conceptual in nature. There has been insufficient exploration of these targets to estimate a Mineral Resource, and it is uncertain whether this exploration effort will result in an estimation of a Mineral Resource.

The exploration drilling program is expected to be completed in February 2024. Updated Mineral Resource Estimates are planned for First Quarter of 2024 at key milestones as drilling is completed at each target area and consolidated at the end of the program.