92 Energy Limited provided an update on the newly acquired Wares Uranium Property in the Athabasca Basin in northern Saskatchewan. Wares Property: The Wares Uranium Property (the Property) was staked by 92 Energy and totals 1,284.9ha in two mineral claims. The Property is located 60km southeast of Uranium City and is approximately 6km south of the northern edge of the Athabasca Basin. The expected depth to the unconformity is 160m vertically from surface.

The Wares Uranium Property is directly adjacent to the Wares Uranium Occurrence discovered by Shell Canada Resources Ltd. in 1979 1. The Wares Uranium Occurrence is defined by a single drillhole, 3991H-03, which intersected 0.18% U3O8 over 0.1m at the unconformity. The Wares Uranium Occurrence is not within the Property but is immediately adjacent to the Property boundary. The Property was last explored during the mid-2000's and despite the encouraging historical results, the uranium mineralisation intersected in hole 3991H-03 was never fully followed up with drilling or modern exploration techniques.

This provides the Company with an opportunity to revisit the historical data and plan a modern drill program immediately adjacent to the Wares Uranium Occurrence. The Company looks to two examples of significant uranium discoveries recently made in the Athabasca Basin which can be attributed to identifying and following up on prospective historical drill results previously passed over, Hathor Exploration Ltd.'s Roughrider Deposit and IsoEnergy Ltd.'s Hurricane Deposit. The Roughrider Deposit was discovered in 2008 by Hathor Exploration Ltd. after a detailed historical re-logging program of drill core from the property, which guided ground geophysical programs. The discovery drillhole, MWNE-08-10, intersected 11.9m averaging 5.29% U3O8 and as of 2011, the Roughrider deposit totaled 17.2 Mlbs of U3O8 at an average grade of 1.98% U3O8 (Indicated) and 40.7 Mlbs of U3O8 at an average grade of 11.43% U3O8 (Inferred).