Overview of GTI Energy's funding and upcoming drilling program

GTI Energy Ltd (ASX: $GTR) has secured funding for the upcoming Q3 resource drilling at the Lo Herma ISR uranium project in Wyoming's Powder River Basin. The drilling program aims to expand and upgrade the current Inferred Mineral Resource Estimate of 5.71 Mlbs U3O8 at an average 630ppm. The company plans to commence drilling in late July or early August and intends to offer rights entitlement to all shareholders on the same terms as the recent placement.

Executive Director's perspective on the funding and drilling program

We are pleased and excited to have received investor support and funding to continue moving forward with our planned resource expansion drilling at Lo Herma. Matt and the team in Wyoming have put us in a great position to complete the drilling program this quarter, with a revised mineral resource estimate to be rapidly advanced post-drilling. This work prepares GTI for a potential Lo Herma scoping study which we hope to commence later this year on the basis that we can significantly grow the uranium resource estimate to a similar scale to ISR uranium mines currently being constructed or planned in Wyoming at Ur-Energy's Shirley Basin project & Encore's Energy's Gas Hills project.

Summary of upcoming drilling program and future outlook

GTI Energy Ltd (ASX: $GTR) has successfully secured funding for the upcoming resource expansion drilling program at the Lo Herma ISR uranium project. The company aims to expand the current mineral resource estimate and explore the potential for a Scoping Study to demonstrate the economic potential of the project. The drilling program, scheduled to commence in late July or early August, will focus on expanding the total mineral resource at Lo Herma and upgrading a portion of the current inferred mineral resource to the higher indicated classification. GTI Energy also plans to publish an updated mineral resource estimate and exploration target range for the project post-drilling, with the expectation that it will support near-term development of the Scoping Study. The company's ambitions include significantly growing the uranium resource estimate to a similar scale to ISR uranium mines currently being constructed or planned in Wyoming, positioning GTI Energy for potential future developments in the uranium sector.