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Wyoming

Dewey Terrace

Project Highlights

Azarga owns a 100% interest in about 7,514 acres (3041 hectares ) through unpatented Federal mining claims and mineral leases
Covers uranium bearing sandstones adjacent to and on trend with the Company’s Dewey Burdock Deposit and projected to
Located along the eastern margin of the prolific Powder River Basin, along the border with South Dakota

Project Details

Azarga presently owns the Dewey Terrace property, a western extension of the Dewey Burdock property. The Dewey Terrace property has identified uranium mineralization and could potentially produce uranium as an ISR satellite to the Dewey Burdock project. The property is contiguous with the Dewey Burdock permit boundary along the Wyoming state line, the western boundary of the Dewey Burdock project. 
Dewey Terrace Uranium Prospect

Location

The Dewey Terrace Project is located in the Weston and Niobrara Counties of Wyoming. The Company acquired this project primarily through the staking of federal mining claims, along with the acquisition of lease agreements. Through mining leases and mining claims, the Dewey Terrace Project is comprised of approximately 1,874 acres of surface rights and approximately 7,514 acres of net mineral rights. The Dewey Terrace Project is located immediately adjacent to the Company’s NRC licensed Dewey Burdock Project along the Wyoming-South Dakota state line.

Target

Sandstone-hosted roll-front type uranium deposits with potential for in-situ recovery.

Azarga’s Dewey Terrace Property,  is contiguous with the western boundary of the Company’s NRC licensed Dewey Burdock Property described in the South Dakota section of this presentation. Therefore several attributes of the Dewey Terrace Property are similar to those of the Dewey Burdock Property.

Should ISR minable resources be delineated on the Dewey Terrace Property they will be well positioned as an ISR satellite operation to the planned licensed Dewey Burdock ISR processing facility.

Property Overview

The Dewey Terrace Property, Weston and Niobrara Counties, Wyoming, consists of unpatented federal mining claims and lease agreements comprising about 1,874 acres of surface rights and about 7,514 acres of net mineral rights. 

The property’s uranium bearing units are the marginal marine Lakota and Fall River sandstone units within the Inyan Kara Group of earliest Cretaceous Age similar to those of the Company’s Dewey Burdock deposit to which it is directly adjacent, and on trend.

Mineral Resources

There are no current uranium resources or reserves on the Dewey Terrace Property

Drilling and Uranium Mineralization*

The Company has a data set of 371 drill holes for the Dewey Terrace property (the “Data Set”) of which 259 drill holes have identified uranium mineralization. The Data Set includes historical drilling information for 351 holes that has been reviewed by the Company’s geological team, as well as 20 exploratory drill holes completed by the Company in a previous exploration campaign. The Company’s 20 exploratory drill holes confirm the presence of uranium mineralization at the Dewey Terrace Project. Further, the conditions of deposition are consistent with sand channel systems categorized within the Dewey Burdock Project, and as well as characteristics indicating possible amenability to in-situ recovery (ISR). Several drill holes encountered multiple intercepts demonstrating a vertically stacked group of separate mineralized zones similar to those at the Dewey Burdock Project. The uranium mineralization covers seven separate mineralized zones over a trend length of approximately 2.5 miles. 

Of the 259 mineralized drill holes of the Data Set, 91 drill holes identify 129 intercepts equal to or exceeding a 0.2 GT cutoff using a 0.02% grade cutoff with an average eU308 grade of 0.062% and an average thickness of 7.4 feet. In addition, the Company identified 93 drill holes with 112 intercepts that had GT values ranging from 0.1 to 0.2 GT based on review of the Data Set.  These intercepts had an average thickness of 4.1 feet with an average grade of 0.041% eU3O8. Of the remaining 187 drill holes reviewed, 112 have an average GT of up to 0.1, while the balance of 75 holes are barren.

The Company’s review of the records and information within the Data Set reasonably substantiate the validity of this information; however, the Company cannot directly verify the accuracy of the historical data, including the procedures used for sample collection and analysis. Therefore, the information from the Data set should not be relied upon.  

What’s Next?

The Company is continuing its analysis of the Data Set with the objective of identifying uranium resources on the Company’s Dewey Terrace Project that could be produced as an ISR satellite to it’s adjacent Dewey Burdock Project. The analysis of the Company’s Data Set provides a very cost effective manner of launching a full and complete evaluation of the Dewey Terrace Property once justified by development of the Dewey Burdock Project.   

*Source: November 2021, Azarga Uranium online home site: Dewey Terrace Uranium Project Https://www.azarga uranium.com/clonejune262021/projects/usa/wyoming-uranium-exploration/

Qualified Person

John Mays, P.E. and Chief Operating Officer for Azarga Uranium is a Qualified Person under NI 43-101 – Standards of Disclosure for Mineral Projects and is responsible for and has approved the technical disclosure on this website.

ISR Uranium Mining