Drilling Recommences at Big Lake Uranium Discovery, South Australia

Alligator Energy Limited ASX: AGE (Alligator or the Company) is pleased to advise that its follow- up drill program at the Big Lake Uranium Project (Big Lake) in the Lake Eyre Basin, South Australia is now underway after a hiatus due to persistent rain following the initial discovery success in 2024.

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Highlights

• The Big Lake Project (Figure 1) encompasses the northern extensions of the proven uranium- bearing sedimentary system that hosts the Beverley, Four Mile and Honeymoon ISR uranium operations in South Australia and shares many of the key characteristics of world-class hydrocarbon-related ISR uranium districts.
• In August 2024, frontier drilling at “Site 10” (Figure 2) delivered a significant exploration success, intersecting substantial thicknesses of anomalous uranium mineralisation within interbedded sand units of the Namba Formation.
• The discovery provided the first proof-of-concept for the presence of significant uranium mineralisation within the Lake Eyre Basin sediments, validating the Company’s exploration model and highlighting the potential for the basin to host a new sedimentary uranium district.

Alligator’s CEO and Managing Director Andrea Marsland-Smith stated: “Our Big Lake Project is one of few greenfields uranium exploration opportunities that has emerged in Australia in the last decade. Our discovery at Site 10 in 2024 provided the first tangible evidence that the Lake Eyre Basin sediments can host uranium mineralisation, validating a geological model that has the potential to unlock a completely new uranium district. Following the 2024 discovery, persistent wet weather conditions limited our ability to return to Site 10, making this upcoming program particularly exciting as we now have the opportunity to follow up the discovery and further assess its scale and potential.

We are entering a highly active phase of exploration, and this upcoming drilling program represents an important step in assessing the scale and continuity of the Site 10 discovery while simultaneously testing a pipeline of prospective targets across EL 6367. The success achieved by the team to date reinforces our view that Big Lake has the potential to become a strategically important uranium project within Alligator Energy’s growing portfolio of advanced uranium assets”

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