Update on Häggan Project exploitation permit application in Sweden

Aura Energy Limited (ASX: AEE, AIM: AURA) has submitted an exploitation permit application for the Häggan Project in Sweden, specifically for Häggan K no 1, along with a new exploration application for Häggãn no 2. The project contains a globally significant polymetallic Mineral Resource critical to Sweden and Europe's energy transition and global food security, including vanadium, potassium, nickel, zinc, molybdenum, and uranium.

Aura Energy Managing Director and CEO, Andrew Grove, on Häggan Project

The Exploitation Permit Application process has confirmed crucial matters about the Häggän future facing metals Project, stemming from our work focused on both environment and social impacts. Sweden is currently the EU's leading mining and mineral nation, and Sweden's minerals strategy will strengthen that position by using its mineral resources sustainably. Importantly, we expect this to help Aura to create jobs and support economic growth in Sweden as we progress the project development. The Swedish Government acknowledges that nuclear power is critical for Sweden to achieve its clean energy ambitions. Against this backdrop, we welcome the Government process aimed at lifting Sweden's ban on uranium extraction in both a socially and environmentally sustainable manner.

Summary of Häggan Project exploitation permit application

Aura Energy's submission of the exploitation permit application for the Häggan Project in Sweden marks a significant step in advancing the project's significant polymetallic Mineral Resource. The project's 2023 Scoping Study demonstrates its scale, optionality, and viability, supporting a review of all options to advance the project for the benefit of all stakeholders. The company is confident that further drilling will continue to de-risk the resource, likely increasing mine life and enhancing project economics. Additionally, the company is optimistic about the potential economic upside from the significant uranium Mineral Resources once the ban on uranium extraction is lifted. Aura Energy remains committed to developing a profitable mine that operates sustainably, responsibly, and in compliance with Swedish regulations.