Aura granted new exploration tenement in Sweden

HIGHLIGHTS

Sweden's Mining Inspectorate has granted Aura Energy an exploration permit for a new 1000-hectare tenement adjacent to Aura's existing Häggån tenement.

Commentary

Philip Mitchell Executive Chairman said:

"We are delighted to have been granted a new exploration permit for the Gräsmyråsen nr 1 tenement which will supplement our existing assets including the adjacent Häggån Nr 1 tenement and allow continued exploration of this high potential area."

Map showing Gräsmyråsen nr 1 alongside the existing Aura tenements.

Additional information

Aura Energy Limited (ASX: AEE, AIM: AURA) ('Aura' or the 'Company') is pleased to advise that Sweden's Mining Inspectorate 'Bergsstaten' has granted to Aura's Swedish subsidiary Vanadis Battery Metals AB an exploration permit for the Gräsmyråsen nr 1 tenement in Jämtland.

The Gräsmyråsen tenement, which covers an area of 1012.12 hectares, lies to the west of, and adjacent to, Vanadis's existing Häggån nr 1 tenement, which contains a 2.5 billion tonne polymetallic mineral resource including U3O8 grade of 155ppm at a cut-off of 100ppm U3O8, for contained U3O8 of 800 Mlbs [1]. The permit has validity until November 20, 2028.

Tenement name and no: Gräsmyråsen nr 1, no 2025:111

Nature of interest: Exclusive rights to conduct exploration within the tenement boundaries, subject to the provisions of the Mineral Act.

Ownership: 100% owned by Vanadis Battery Metals AB, a wholly owned subsidiary of Aura Energy Limited

Approximate area: 1012.12 hectares

Gräsmyråsen nr 1 borders two of Aura's previous tenements, Möckelåsen nr 1 and Häggån nr 1. Adding Gräsmyråsen nr 1 to the portfolio allows for the possibility of expanding the adjacent Häggån nr 1 Mineral Resources, part of which has a pending concession application, Häggån K nr 1. The location between the two earlier tenements also adds coordination benefits, making exploration work more efficient and cost effective.

On November 5th, 2025, the Swedish government voted, with effect from 1 January 2026, to lift the ban on uranium exploration and exploitation in the country that has been in place since 2018.

Authorisation for release

This announcement is authorised for release by the Board of Aura Energy Limited

Aura Energy is an Australian-based mineral company with major uranium and polymetallic projects in Africa and Europe.

Aura plans to transition from a uranium explorer to a uranium producer to capitalise on the rapidly growing demand for nuclear power as the world shifts towards a decarbonised energy sector.

The Company is focused on developing a uranium mine at the Tiris Uranium Project, a major greenfield uranium discovery in Mauritania.

Beyond the Tiris Project, Aura owns 100% of the Häggån Project in Sweden. Häggån contains a global-scale vanadium, sulphate of potash (SOP)[2] and uranium[3] resource - see Appendix 1 below. Utilising only 3% of the resource, a 2023 Scoping Study[4] outlined a 17-year mine life based on a 3.6Mtpa production rate.

Included in the global Mineral Resource published on 22 August 2012, "Outstanding Häggån uranium resource expands to 800 million pounds" is an Inferred Mineral Resource of 2.35 billion tonnes with U3O8 grade of 155ppm at a cut-off of 100ppm U3O8, for contained U3O8 of 800 Mlbs1. This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised.

The Company is not aware of any new information or data that materially affects the estimates of the Häggån Mineral Resources Estimates. All material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Appendix 1: Mineral Resource and Ore Reserve statement

Häggån Mineral Resource (JORC 2012)1 - V2O5 cut-off grades

1 For further information please refer to the ASX and AIM Release: 10 October 2019 - Häggån Battery Metal Project Resource Upgrade Estimate Successfully Completed.

Häggån Mineral Resource (JORC 2004)2 - 100ppm U3O8 cut-off grade

Contained metal shown for U3O8 only.

Significant figures quoted do not imply precision and are to minimise round-off errors.

2 For further information please refer to the ASX and AIM Release: 22 August 2012 - Outstanding Häggån Uranium Resource expands to 800 million pounds.

[1] ASX and AIM Release: 22 Aug 2012 - Outstanding Häggån Uranium Resource expands to 800 million pounds

[2] ASX and AIM Release: 10 Oct 2019 - Häggån Battery Metal Project Resource Upgrade Estimate

[3] ASX and AIM Release: 22 Aug 2012 - Outstanding Häggån Uranium Resource expands to 800 million pounds

[4] ASX and AIM Release: 5 Sept 2023 - Scoping Study Confirms Scale and Optionality of Häggån