EL8.ASX: Marenica Resource Increases by 31%

Marenica Resource Increases by 31%

Stock	Elevate Uranium Ltd (EL8.ASX)
Release Time	10 Jun 2026, 8:18 a.m.
Price Sensitive	Yes

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Elevate Uranium's Marenica Resource Increases by 31%

Key Points

Marenica Project Mineral Resource increased by 31% to 52.8 Mlb U3O8
Infill drilling adds 12.6 Mlb U3O8, building on previous resource grade doubling
Namibian portfolio now 116 Mlb U3O8, one of the largest undeveloped uranium bases in Erongo Region
Bulk samples processed through Pilot Plant for feasibility study inputs

Full Summary

Elevate Uranium Ltd has announced a significant increase in the Marenica Uranium Project's mineral resource, now totaling 52.8 million pounds of U3O8, a 31% increase from the previous update. This growth follows infill drilling in identified growth targets, which added 12.6 million pounds of U3O8. The updated resource is at a grade of 180 ppm U3O8. The company's Namibian portfolio has expanded to 116 million pounds of U3O8, one of the largest undeveloped uranium bases in the Erongo Region. Bulk samples from the updated resource area are being processed through the company's Pilot Plant in Namibia to provide definitive inputs for feasibility studies. Additionally, infill drilling is underway to convert the JORC Inferred Mineral Resources to Indicated, progressing the classification upgrade required for future feasibility studies.

Outlook

Elevate Uranium is advancing with infill drilling and processing bulk samples to support feasibility studies, aiming to convert Inferred Resources to Indicated.