Gravelotte Emerald Mine Sales Update

URA (LSE: URAH), the gemstone mining company, announces a sales update for the Gravelotte Emerald Mine ("GEM") following the commencement of phased production in the second quarter of 2024.

The small first trial sale, initially scheduled for September as part of a far larger auction to be conducted by Bonas Group, has been postponed due to export delays to Thailand. The trial sale will be rescheduled to coincide with the next independent Emerald Auction conducted by Bonas, at which time an additional quantity of Gravelotte emeralds would be available for sale. A total of approximately 45,000 carats were exported from South Africa to Bangkok in two batches in preparation for the first trial sale. The exportation and clearance of one of the two parcels was delayed, resulting in the postponement of the first trial sale. Once the second batch is cleared, both parcels will be securely stored at Bonas's facilities in Bangkok, and the Company will continue to add emerald production to the material.

Ed Nealon, Chairman of URA, stated: "Despite the delay in the trial sale, we are continuing to produce material from the Gravelotte mine and building our stockpile of material in preparation for our first sale at a later date. We are making good progress with work at the Curlew mine in preparation for the commencement of phased production and will update the market shortly on our progress."

URA Holdings is an emerging emerald producer, focusing on the Gravelotte Emerald Mine (GEM). Historically, GEM is one of the world's largest emerald mines, located in South Africa. URA Holdings is committed to sustainable and efficient mining practices, utilizing modern technology to revive this historically significant emerald mine. Recently, URA acquired the Curlew Emerald Mine in Australia, further expanding its emerald mining operations and assets.

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