Koba Resources Limited's Acquisition of Harrier Uranium Project

Koba Resources Limited (ASX: $KOB) has entered into a four-year option agreement to acquire a 100% interest in the Harrier Uranium Project in eastern Canada. The project encompasses 131km2 and has returned rock chip samples with assays >5% U3O8 from two prospects and >1% U3O8 from seven other prospects.

Executive Commentary on Harrier Uranium Project Acquisition

Koba's Managing Director and CEO, Mr Ben Vallerine, expressed, 'Koba's focus remains firmly on our Yarramba Uranium Project in South Australia, where drilling is set to commence next month. But the opportunity to acquire the extremely prospective Harrier Uranium Project, for minimal cost, was too good to pass up. This additional project allows us to continue to leverage on our North American uranium experience and will increase our chance of making a significant uranium discovery in the near-term.'

Summary of Harrier Uranium Project Acquisition

Koba Resources Limited has secured the rights to acquire a 100% interest in the Harrier Uranium Project in eastern Canada, encompassing 131km2. The project has shown extremely high-grade uranium mineralisation, with rock samples assaying >1.0% U3O8 from nine different prospects. The company plans to commence field work in June 2024 to prepare for its inaugural drilling campaign. The acquisition terms include staged payments over four years, with a minimum expenditure of $3 million on exploration and development within the same period. Koba's Managing Director and CEO, Mr Ben Vallerine, highlighted the potential for significant uranium discovery within the project area, leveraging the company's North American uranium experience.