Askari Metals acquires 100% interest in Eyasi Uranium Project

Askari Metals Limited (ASX:AS2) has acquired a 100% interest in the Eyasi Uranium Project located in the northern part of Tanzania. The project covers an area of approximately 292km2 and was acquired through direct staking applications via its wholly owned Tanzanian subsidiary, Infinum Uranium Co. Limited. The project was identified as a highly prospective target for potential surface uranium deposits through an extensive in-house review of available geological and airborne geophysical data.

Executive Commentary on Eyasi Uranium Project Acquisition

Askari Managing Director Gino D'Anna expressed excitement about the acquisition, stating, 'The Eyasi Project represents a significant exploration opportunity for Askari and is a strong addition to our Tanzanian uranium portfolio. Our strategy of direct staking of high priority targets identified through a detailed in-house technical review of all countrywide data is paying dividends as we continue to build a highly prospective uranium portfolio in Tanzania. We are well positioned to execute high-impact, low-cost exploration campaigns in Tanzania, and we look forward to getting boots on the ground at Eyasi and sampling these anomalous systems.' D'Anna also mentioned the progress of the Matemanga Uranium Project and the company's anticipation of further updates on both the Eyasi and Matemanga Uranium Projects, as well as potential further strategic acquisitions in Tanzania.

Summary of Eyasi Uranium Project Acquisition

Askari Metals' acquisition of the Eyasi Uranium Project in Tanzania strengthens its position in the uranium sector, complementing the recently acquired Matemanga Project. The re-processing of airborne geophysical data revealed two discrete, linear radiometric anomalies, indicating potential secondary, placer style fluvial deposits derived from primary uraniferous granites. The company plans to conduct an initial reconnaissance sampling campaign to define the mineralisation along this highly prospective strike and to define the next exploration steps. Askari Metals continues to review and evaluate strategic acquisitions within this emerging Tier 1 uranium province in Tanzania and is in discussions with a number of parties. The company also intends to fast track low-cost exploration programmes to generate drill targets and is optimistic about the mining sector's growth in Tanzania, with the government's commitment to its development and the presence of major players investing in the country's mineral reserves.