Astron Corporation's Joint Venture Update

Astron Corporation Limited (ASX: $ATR) has extended the exclusivity period granted to Energy Fuels Resources (USA) Inc. under the non-binding Memorandum of Understanding (MoU) for the joint development of the Donald Rare Earths and Mineral Sands Project in Victoria, Australia. The extension, agreed upon by both parties, is now set to expire on 30 April 2024, allowing Energy Fuels to finalize all outstanding definitive agreements after substantially completing its due diligence.

Executive Commentary

We are pleased to announce the extension of the exclusivity period with Energy Fuels as we work towards finalizing the definitive agreements for the joint development of the Donald Rare Earths and Mineral Sands Project. This project holds the potential to become a globally significant supplier of critical rare earth elements and minerals, and we are committed to progressing this venture in collaboration with Energy Fuels. The extension of the exclusivity period reflects the substantial progress made in the due diligence process and the ongoing efforts to bring this project to fruition.

Summary of Astron Corporation's Announcement

Astron Corporation Limited (ASX: $ATR) has extended the exclusivity period granted to Energy Fuels Resources (USA) Inc. under the non-binding Memorandum of Understanding (MoU) for the joint development of the Donald Rare Earths and Mineral Sands Project in Victoria, Australia. The extension, agreed upon by both parties, is now set to expire on 30 April 2024, allowing Energy Fuels to finalize all outstanding definitive agreements after substantially completing its due diligence. The Donald Project, with over 2.6 billion tonnes of Mineral Resources, has the potential to emerge as a globally significant supplier of critical rare earth elements and minerals. Astron Corporation remains focused on the development of this long-life project and looks forward to the continued collaboration with Energy Fuels to bring this venture to fruition.