Madaouela (Niger)
• Located approximately 10 km south of Arlit, and Areva’s mining subsidiaries of Cominak and Somair, in north central Niger.
• Deposits hosted within sandstones of the Tim Mersoi Basin.
• Approved Mad 1 Mine Permit (January 2016), and ESIA (July 2015)
• Infrastructure includes road access, labour, ground water, and available grid power.
• Integrated Development Plan (PFS) updated August 2015.
• Mineral Resource (November 2017) of 111 Mlbs U3O8 contained in the Measured and Indicated, and 28 Mlbs U3O8 contained in the Inferred category.2
• Probable mineral reserves1 are 60.54 Mlb U3O8.
• Uranium recovery forecast at 93.7%.
• Annual production forecast at 2.69 Mlb U3O8 for 21 years
• Cash Operating Cost forecast at US$24.49 /lb U3O8.
• Start-up Capital Expenditure of US$359 million.
• NPV post all taxes and royalties, and for 100% of the Madaouela Project at US$70/lb U3O8 and 8% discount rate of US$340 million.
• Further recovery and cost optimization to be focus of future studies.

Mutanga (Zambia)
• Located approximately 200 km south of Lusaka, immediately north of Lake Kariba, at elevations of 500 metres to 960 metres.
• Mineral resource (November 2017) of 15.2 Mlbs U3O8 contained in the Measured and Indicated, and 44.9 Mlbs U3O8 contained in the Inferred category.
• Uranium deposits hosted within sandstones of the Escarpment Grit Formation of the Karoo Super Group.
• Preliminary Economic Assessment completed November 2017.
• 11-year mine life forecast producing 2.6 Mlbs U3O8 per annum.
• Uranium recovery forecast at 88%.
• Start-up Capital Expenditure of US$121 million.
• Cash Operating Cost forecast at US$31.1 / lb U3O8.
• Mine license granted; based on open-pit mining + heap leach.
• Infrastructure includes road access via 39 km gravel road, ground water, and available grid power (approximately 60 km away).

Falea (Mali)
• Located within the Falea-North Guinea-Senegal Neoproterozoic Basin
• Three licenses: Bala, Madini, and Falea.
• Mineral resource (October 2015) of 17.4 Mlbs U3O8 contained in the Measured and Indicated, and 13.4 Mlbs U3O8 contained in the Inferred category.
• In addition, contains 24 Mlbs Cu and 16 Moz Ag contained in the Measured and Indicated and 39 Mlbs Cu and 5 Moz Ag contained in the Inferred category.
• Only 5% of the 225 km2 land package has been explored.
• Most known ore zones remain open for exploration.
• Considerable technical and environmental work completed to date.
• Forecast underground mining operation.
• Process route includes recovery of copper and silver.
• Road and air access, including a gravel airstrip on-site.