AEU to Evaluate Larger Scale Madaouela

• Value optimisation and technical review program commenced at the Madaouela Uranium Project in Niger.
• Program designed to evaluate opportunities to increase project scale and enhance project economics.
• The Company recently re-established the permitting pathway for Madaouela with a new mining convention.

Atomic Eagle Limited (ASX: AEU) has initiated a value optimisation and technical review program at the Madaouela Uranium Project in Niger. This program aims to build upon the substantial technical foundation established through approximately US$160 million of historical project expenditure, including extensive drilling, engineering, and feasibility studies. The program seeks to evaluate opportunities to increase the project scale, expand the mining inventory, and enhance project economics relative to the earlier 2022 Feasibility Study. The optimisation program will assess various factors, including updated uranium price assumptions, alternative mining methods, integrated open-pit and underground mine scheduling, higher-throughput development scenarios, and capital and operating cost optimisation opportunities. The objective is to determine whether Madaouela can support a materially larger and more valuable development scenario than previously contemplated.