Plateau Uranium Commences Environmental Baseline Permitting Work Following Positive Government Meetings - Seite 2

Notable meetings were held with:

• Mrs. Rosa María Ortiz, Minister of Energy and Mines, and Mr. Guillermo Shinno, Engineer, Vice-Minister of Mines;
• Mrs. Susana Vilca, President of INGEMMET;
• Mrs. Susana Petrick, President of IPEN;
• Marcos Villegas, Engineer, General Director at MEM; and
• Mrs. Cecilia Chacon and Mr. Néstor Valqui - Members of the Congress of the Republic of Peru.

The Peruvian officials showed a special interest in the Company's Macusani project and offered their assistance to support the project through the regulatory and legal process towards production.

The Minister of Energy and Mines, Mrs. Rosa María Ortiz, stated that she was very pleased with the discovery of existing uranium potential in Peru, including the work completed to date at the Macusani project to define Measured & Indicated resources of 51.9 Mlbs U₃O₈ plus additional Inferred resources of 72.1 Mlbs U₃O₈. Moreover, the potential inclusion of lithium resources in a future mining production scenario was looked upon favourably as a way to bring Peru towards the forefront of clean energy generation and storage worldwide.

As a direct result of the encouraging support from these meetings, Plateau Uranium will soon start the EIA for the Macusani project, and have engaged ACOMISA to commence enhanced environmental baseline studies as appropriate in support of the EIA.

Environmental Monitoring and Permitting Work

The Company has engaged ACOMISA to enlarge and enhance the existing environmental base line study work started prior to and during exploration activities to date. The enhanced environmental work will cover all established uranium deposit areas with additional sample point sites and continuous periodic monitoring. This forms the initial step towards completing an EIA study that is necessary to allow the Company to bring the Macusani plateau uranium project into production.

ACOMISA has already completed a site visit to the Macusani project and has designed a more complex network of monitoring points to cover the known deposits and surrounding areas controlled by the Company. ACOMISA personnel and Company geoscientists are currently in the field on the project and have just commenced work. The objectives of the visit and initial work are to hold meetings with the affected local communities, to make biological and archaeological observations, to determine the final positions of the monitoring points for the the base line study and to start the monitoring program.