Update on Lo Herma ISR uranium project drilling program

GTI Energy Ltd (ASX: $GTR) has received approval for 57,000 ft of mud rotary drilling at the Lo Herma ISR uranium project in Wyoming's Powder River Basin. The drill rig is set to mobilise and commence drilling within the next 48 hours, targeting expansion and upgrade of the current Inferred Mineral Resource Estimate of 5.71 Mlbs U3O8 at average 630ppm. Additionally, details of a planned rights entitlement offer to all GTR shareholders and GTRO optionholders are expected imminently.

Executive Director's perspective on the drilling program

We are very pleased to be starting resource expansion drilling at Lo Herma on time. We're excited to be in a strong position to be able to complete the drilling program this quarter, with a revised mineral resource estimate to be rapidly advanced post-drilling. This work prepares GTI for a potential Lo Herma scoping study which we hope to commence later this year on the basis that we can grow the Lo Herma uranium resource estimate to a similar scale to ISR uranium mines currently being constructed or planned in Wyoming at Ur- Energy's Shirley Basin project & Encore's Energy's Gas Hills project.

Summary of the drilling program and future outlook

GTI Energy Ltd (ASX: $GTR) has obtained the necessary permits and access arrangements for a 57,000 ft mud rotary drilling program at the Lo Herma ISR uranium project. The company aims to expand the resource areas and upgrade the current mineral resource classification, with a focus on collecting important data for metallurgical testing and hydrogeologic parameters. Following the completion of the drill program, GTI intends to publish an updated mineral resource estimate and exploration target range for the project. This will support the near-term development of a Scoping Study to demonstrate the economic potential of the project. The company's ambitions include commencing a potential Lo Herma scoping study later this year, contingent upon the growth of the Lo Herma uranium resource estimate to a similar scale as ISR uranium mines in Wyoming. GTI Energy remains optimistic about the future prospects of the Lo Herma project and is committed to advancing its corporate strategy in line with the announcement.