DevEx Resources Ltd announces expansion of Murphy West Uranium Project

DevEx Resources Limited (ASX: $DEV) has expanded its Murphy West Uranium Project in the Northern Territory through a new farm-in agreement with GSW Minerals Pty Ltd. The agreement allows DevEx to earn up to 75% of all minerals within GSW's three granted exploration tenements, covering a total area of 2,000km2. This consolidation of highly prospective tenure strengthens DevEx's regional footprint and enhances its position in the uranium exploration sector.

DevEx Managing Director's Perspective on the Expansion

DevEx Managing Director, Brendan Bradley, stated, 'DevEx has been active in consolidating new strategic ground positions at the Murphy West Uranium Project since first announcing our entry into this region in October last year. We intend to fly an extensive airborne radiometric survey over the new earn-in ground and existing JV tenure following the conclusion of the NT wet season. This will give us a critical platform dataset from which we can assess the potential of this highly prospective but poorly explored uranium province.'

Expansion and Future Plans

DevEx Resources Limited has secured additional highly prospective tenure adjacent to its Murphy West Uranium Project in the Northern Territory through a new farm-in agreement with GSW Minerals Pty Ltd. The agreement allows DevEx to earn up to 75% of all minerals within GSW's three granted exploration tenements, covering a total area of 2,000km2. This expansion consolidates the Murphy West tenement package to cover a total area of ~7,000km2, strengthening DevEx's regional footprint. The company plans to carry out an extensive airborne radiometric and magnetic survey in the coming months to identify signatures of uranium mineralization ahead of follow-up field activities. The region represents an endowment of over 700Mlbs of uranium oxide (U3O8) as defined in current Mineral Resource estimates and production history. DevEx's Managing Director, Brendan Bradley, emphasized the company's intention to assess the potential of this highly prospective but poorly explored uranium province through the upcoming survey. The key terms of the earn-in agreement include DevEx carrying out an airborne geophysical survey and geological reconnaissance within an initial 18-month option period, with the right to earn a 75% interest in all minerals by spending $3 million in the four years from completion of the option period. The company's proactive approach to expanding its strategic ground positions and conducting comprehensive surveys reflects its commitment to advancing its presence in the uranium exploration sector.