Summary

Mine Type	Open Pit
Study Completed	Preliminary Economic Assessment
Commodities	Uranium
Mining Method	Truck & Shovel / Loader
Mine Life	...
Snapshot	Aurora Uranium Project is a uranium development project, comprising a shallow open-pit mining operation. Aurora Energy Metals Limited’s Scoping Study evaluates two processing scenarios: • Contract Resin Treatment scenario – uranium-bearing resin is loaded on site and then transported to a third-party toll facility for elution, precipitation and product drying. • Aurora Treatment scenario – resin is treated on site, requiring additional plant infrastructure and higher initial capital expenditure, but achieving lower long-term operating costs. The Contract Resin Treatment scenario was selected as the Base Case because it requires lower pre-production capital and underpins the study’s headline economic results, including the reported cash operating costs.

Deposit type

• Sedimentary - Volcanogenic

Summary:

Aurora is situated within the Miocene McDermitt caldera complex (Oregon–Nevada), a large nested ring-fracture system where moat-filling lacustrine tuffaceous sediments overlie dacitic flows; uranium mineralisation is concentrated near the lake-sediment unconformity and is structurally influenced by ring-fracture/graben faults with strong volcanic-hydrothermal control.

Local Geology
The Project area is covered with a thin veneer of alluvium overlying lakebed sediments. The lake sediments are generally tuffaceous but in places are complexly interbedded with dacitic lava flows of the Aurora icelandite volcanic sequence (~16.1 Ma). The lake sediments overlie the flows with a contact that is abrupt in some areas, with thick flows marking the bottom of the sediments or by gradually increasing volumes and thicknesses of the dacitic flows and tuffs. The flows generally become more massive or compact near the contact with the underlying rhyolitic welded tuffs and flow domes. The Aurora lavas were deposited upon an irregular surface of rhyolitic rocks, which appear in part to be intrusive based on porphyritic textures and may represent local volcanic domes.

The lake sediments are composed of poorly consolidated, subaerial tuffaceous material interstratified with fine grained bedded layers and discontinuous lenses and nodules of chalcedony. Lake sediments vary from finely laminated clay-shales, siltstones and tuffaceous sandstones, to more massively bedded rhyolitic air-fall ash tuffs and can be up to 180m thick. The sediments probably originated from local volcanic vents and were deposited in moat-like basins within the caldera margins.

The Aurora lava flows and tuffaceous units consist of a complex interbedded sequence of dark coloured dacitic flows with vesicular to scoriaceous flow tops and some interbeds of ash. Individual flows range in thickness from 1.5 to 15 metres. The lava sequence contains a variety of breccia layers, with cumulative thickness generally between 30 to 90 metres.

Mineralisation
The Aurora uranium mineralisation forms stratabound and cross-cutting bodies in the Lake Sediments and dacitic flow units forming an irregular mineralised zone approximately 1,500 metres long by 300 metres wide. The mineralised horizons range from a true thickness of just over a metre to more than 30 metres thick. The mineralised beds range from nearly horizontal to moderately dipping. The beds are spatially related to and partially controlled by possible growth faults or graben bounding structures, primarily on the northeast margin of the mineralisation. Uranium mineralisation seems related to volcanic and hydrothermal activity.

The spatial distribution of uranium with sediments and broken, permeable zones of volcanic rocks suggests mechanically and chemically transported zones of mineralisation are common. Several of the secondary or tertiary basins within the lake sediments and graben block show thin repeating beds of mineralisation within zones of more permeable rocks and often isolated by clay rich zones. Higher grade and thicker zones of mineralisation may represent high angle structures which acted as hydrothermal feeders or enrichment zones.

Mining Methods

- subscription is required.

Comminution

Crushers and Mills

Processing

Summary:

The Scoping Study work has identified a relatively simple processing flowsheet based on beneficiation and atmospheric leaching, with scope to further improve recoveries. Based on the Scoping Study, we plan to process ores on the Company’s private land in Nevada to simplify permitting, utilise existing infrastructure and reduce capital requirements.

The scenario using production of a loaded resin for off-site processing has been adopted as the Base Case due to the significant capital saving.

Mined ore would be transported by either truck, conveyor or slurry pipe from the mine site in Oregon to the planned processing facility on the Company’s privately-owned land in Nevada.

The Study evaluated two options for the back end of the processing plant in Nevada:
• Contract treatment of loaded resin to produce uranium precipitate;
• Production of uranium precipitate at the Plant site.

CIX Contract Resin Treatment
The option to send load ........

Water usage

Commodity Production

Operational metrics

Metrics
Annual ore mining rate	....
Annual processing rate	....
Stripping ratio	....
Waste tonnes, LOM	....
Ore tonnes mined, LOM	....
Total tonnes mined, LOM	....
Tonnes processed, LOM	....

Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Jan 25, 2026
.......................	.......................		Jan 25, 2026