Alligator Energy Limited announced that drilling has recommenced on schedule at the Blackbush Deposit (Blackbush), Samphire Uranium Project south of Whyalla, South Australia, following completion of a high-resolution ground gravity survey and a trial 3D Ambient Noise Tomography (ANT) survey. Rotary Mud Drilling: Commensurate with the release of the Blackbush Deposit initial combined Indicated and Inferred Mineral Resource estimate (MRE) targeting In-Situ Recovery (ISR), AGE was already planning a follow-up drilling program at Blackbush. AGE reported this program commenced on time on 6 October 2022.

The program comprises up to 100 infill and extensional rotary mud drillholes to complete the following objectives: target further conversion of the Blackbush Mineral Resource from Inferred to an Indicated JORC category, follow-up extensions of the known high-grade zones where mineralisation is not closed off, and test areas where historical data outside the MRE area flags potential for additional accumulations of uranium mineralisation. A higher proportion of holes have been prioritised to the first two objectives such that the MRE can be updated to support ASX life of mine schedule requirements for the Blackbush Scoping Study, targeting end of fourth quarter of 2022 for completion. The resource update is expected to require only a short turnaround due to recent familiarity within then AGE team and external resource consultant of Blackbush resource model, all drilling being rotary mud and drillers have operated at Samphire previously with approximately two holes per day currently being drilled, and increased technical experience in Alligator's Samphire technical team.

As previous drilling enabled an accurate correlation between assay, PFN and gamma derived uranium grades, PFN grade measurement will be used as the principal uranium grade determination method for this program. This will allow new downhole grade data to be readily inserted into the resource model allowing for in-field adjustment of the drilling for best results. AMC consultants (Perth) have been re-engaged to update the MRE once there is sufficient data to enable Inferred to Indicated conversion in the resource model.

The remaining holes will test new areas for uranium accumulation proximal to Blackbush and may be deferred to first quarter of 2023 depending on proximity to end of November when rehabilitation is planned to commence. A drilling contractor has been secured for the full program this year and into early 2023.