Update on Tiris Uranium Project development

Aura Energy Limited (ASX: $AEE) has received the final material permit from the Mauritanian Government for the construction and operation of the Tiris Uranium Project in Mauritania, West Africa. The authorization to develop, mine, and produce Uranium Oxide Concentrate (UOC) was issued by the National Authority for Radiation Protection, Safety and Nuclear Security (ARSN) on 12 July 2024, marking a significant step towards achieving a Final Investment Decision (FID) by Q1 2025.

Executive commentary on Tiris Uranium Project

Aura MD and CEO, Andrew Grove, expressed satisfaction with the high levels of support and confidence shown by the Mauritian Government towards Aura and the development of a long-term globally significant uranium mining industry in Mauritania. The final approval and formation of the inter-ministerial committee are crucial steps as they rapidly progress towards FID and developing a uranium mine at Tiris in the near term. Grove also highlighted the ongoing activities that are expected to materially enhance Tiris' Project economics, expressing anticipation for keeping shareholders and stakeholders informed regarding Aura's and Tiris' rapid progress.

Summary of Tiris Uranium Project update

Aura Energy Limited (ASX: $AEE) has successfully obtained the final permit for the Tiris Uranium Project, signaling a significant advancement towards the project's development and operation. The company anticipates a strong future news flow as the development of Tiris continues to progress. With the formation of an inter-ministerial committee by the Mauritanian Government and ongoing activities aimed at enhancing the project's economics, Aura is poised to achieve a Final Investment Decision by Q1 2025. The company's focus on transitioning from a uranium explorer to a uranium producer aligns with the growing demand for nuclear power in the decarbonized energy sector. Additionally, Aura's ownership of the Häggan Project in Sweden provides further potential for resource utilization and long-term growth.