Oar Resources signs MoU with Indústrias Nucleares do Brasil (INB)

Oar Resources Limited (ASX: $OAR) has signed a Memorandum of Understanding (MoU) with Indústrias Nucleares do Brasil (INB), a State-owned entity responsible for the development, production, and commercialization of nuclear materials, including uranium, in Brazil. The MoU aims to collaborate on the development of potential uranium feedstocks from OAR's Rare Earth Elements (REE) and uranium projects located in Paraiba, Goiás, and Rio Grande do Sul. This follows OAR's announcement of a 283% expansion of its Brazilian uranium landholding from 230km2 to 880km2.

Executive Commentary on Collaboration and Exploration Plans

We are extremely excited about our partnership with INB, and we look forward to working hand-in-hand to develop Brazil's considerable critical and strategic mineral resources. Oar Resources currently holds 880km2 of enviable tenure in some of the most prospective regions for uranium within Brazil, and we look forward to exploring them in partnership with the INB. The signing of this MoU is a transformative milestone providing OAR with the opportunity to be a first mover in the hunt for uranium in Brazil, a country so rich in undiscovered mineral wealth with amazing infrastructure and support for exploration companies. OAR's extensive Management and Operational experience along with reputation in-country have created this truly unique opportunity. Uranium as a commodity is back as an attractive option for investment with the perfect storm of decarbonisation, efficient electrification, and the need for green clean energy, which has never been higher on a global scale. This agreement provides Oar with the opportunity to be at the forefront of the legislative changes in Brazil and provide investors with the opportunity to get into Brazilian uranium exploration from the ground up.

Summary of MoU and Exploration Plans

Oar Resources Limited (ASX: $OAR) has signed a MoU with Indústrias Nucleares do Brasil (INB) to collaborate on the development of potential uranium feedstocks from OAR's Rare Earth Elements (REE) and uranium projects in Brazil. The MoU aims to enable a future agreement to be reached on any uranium discoveries by OAR, following the company's significant expansion of its Brazilian uranium landholding. OAR has prioritized exploration at its São José and Amorinopolis projects under the scope of the MoU, with a preliminary exploration plan designed to test historic uranium occurrences and identify drill targets. The multi-phased exploration approach is aimed at efficiently exploring for uranium across its Brazilian assets, with detailed field mapping, sampling, and surveying using a scintillometer planned to drive the exploration efforts. OAR's partnership with INB presents an opportunity to be at the forefront of the legislative changes in Brazil and to explore Brazilian uranium from the ground up, aligning with the increasing global demand for green clean energy.