Alligator Energy advised that its airborne gravity work over the Nabarlek North Project in the Alligator Rivers Uranium Province (ARUP) has commenced, and the Mining Management Plan (MMP) for the auger and RAB drilling program that is planned to follow has also been approved. Highlights · The previously advised Falcon Plus airborne gravity survey (June 2022 Quarterly) over a large portion of the Nabarlek North package of tenements in Arnhem Land has commenced (refer Figure 1). Xcalibur will be conducting the survey on Alligator's behalf over a selected zone of the Project, targeting key structural and geological controls.

The Northern Territory Department of Industry, Tourism and Trade (DITT) has advised approval of Alligator's proposed auger and RAB drilling programs within the Nabarlek North Project area. The information gained from this work, combined with the airborne gravity results, will inform the targeting of a deeper RC drill testing program. The Nabarlek North work program was previously approved by Traditional Owners at a Northern Land Council-facilitated work program meeting which paved the way for execution of the airborne gravity survey and regional auger and RAB follow-up drilling.

The Nabarlek North Project represents a highly prospective under-explored region within the Alligator Rivers Uranium Province, typified by excellent accessibility with very limited high profile sandstone cover. Sufficient shallow sandstone sub-crop and sedimentary cover still exists across the project area to mask radiometric responses of any mineralisation in the region, making it an excellent exploration target. The Project is located less than 7km north of the historic Nabarlek uranium mine which produced 24Mlb of U3O8 at an average grade of 1.84%*.

The U40 Prospect, located just outside of AGE's southern tenement boundary, has historically reported grades of up to 6.3m @ 7.23% U3O8* demonstrating high-grade occurrences proximal to the Nabarlek North Project. AGE will be exploring the possibility of extensions of these mineralised systems into the Nabarlek North tenement package.