Boss Energy Limited (ASX: BOE; OTCQB: BQSSF) is pleased to announce that it has cemented its position as Australia's most advanced emerging uranium producer, with the front-end engineering and design (FEED) process at its Honeymoon Project running well ahead of schedule.

Boss now expects to complete this work early in the new calendar year, positioning it to start detailed design work and order long-lead items. The rapid progress on the FEED work comes against the backdrop of a rising uranium spot price, which hit a six-year high of US$39.00/lb last week. Boss paid US$30.15/lb for 1.25Mlbs of U3O8 it acquired in March this year at a total cost of US$37.68M (A$49.69M)1.

This inventory is now worth US$48.75M (A$65.88M)2 at a spot price of US$39.00/lb. Strategically, this inventory is highly valuable to Boss on several levels as the Company secures offtake agreements, finalises project funding and moves into production. Boss Managing Director Duncan Craib said: 'We continue to extend our advantage as the most advanced emerging uranium producer in Australia.

'We have a plant on care and maintenance, other significant production and storage infrastructure in place, we have formed an Owner's Team to restart Honeymoon and we are moving through the FEED stage rapidly'.

Front End Engineering Design

Boss is currently completing the process design, and finalising site layouts and arrangements with certified vendor data for Honeymoon. FEED is expected to complete early in the March quarter, 2022, which will allow detailed design to commence immediately after a Final Investment Decision (FID) for Honeymoon's restart is made.

Contact:

Paul Armstrong

Tel: +61 (08) 9388 1474

Forward-Looking Statements

This announcement includes forward-looking statements. These forward-looking statements are based on the Company's expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties, and other factors, many of which are outside the control of Boss Energy, which could cause actual results to differ materially from such statements. Boss Energy makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of this announcement.

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