NGX's Acquisition of Uranium Exploration Projects in Namibia

NGX Limited (ASX: $NGX) has announced the acquisition of two uranium exploration project applications in Namibia. The projects, located in the Erongo Region, are part of the Company's focus on clean energy minerals in Africa and complement NGX's existing natural graphite assets in Malawi.

Executive Commentary on Acquisition

While NGX has been progressing permitting and processing testwork on our flagship graphite projects in Malawi, we have also been looking for opportunities to expand our clean energy minerals portfolio in Africa, to meet the world's growing need for carbon free energy. Our management group includes considerable and very successful experience in uranium exploration, so this is a natural addition to our portfolio. We are very optimistic about the outlook for the uranium market and Namibia remains the premier uranium exploration environment in Africa.

Summary of Acquisition and Outlook

NGX (ASX: $NGX) has entered into binding earn-in joint venture agreements for two Exclusive Prospecting Licence applications (EPL) in Namibia, enhancing the Company's focus on clean energy minerals in Africa. The acquisition of these uranium project applications complements NGX's existing natural graphite assets in Malawi. The Company's downstream strategy and anode qualification program from its natural graphite project base in Malawi are continuing, with ongoing testwork programs and the recent appointments of two highly experienced commercial and technical experts. NGX aims to capitalize on the world's growing need for carbon-free energy and is optimistic about the outlook for the uranium market. The Company's expansion into uranium exploration in Namibia aligns with its ambitions to contribute to the global demand for clean energy minerals.