DevEx Resources Limited announced that initial diamond drilling has intersected high-grade uranium mineralisation at its 100%-owned Nabarlek Uranium Project, located in the heart of the world-class Alligator Rivers Uranium Province (ARUP) in the Northern Territory. Diamond drilling at both the Nabarlek South and North Buffalo Prospects has intersected significant zones of uranium mineralisation adjacent to historical intercepts, highlighting the endowment and exploration upside of the brownfields Nabarlek Project. Targeting the Nabarlek South uranium shoot, Hole 2 (22NBDD02) intersected 10.7m @ 1.2% eU3O8 from 123.4m including 3.2m @ 3.1% eU3O8, extending the known high-grade uranium mineralisation 25 metres down-plunge from historical uranium intercepts in fresh rock.

Visual logging of the mineralised diamond core, supported by spot pXRF analysis, has identified uranium mineralisation within a fault zone of fractures and veins within the dolerite over the reported intercept length. These uranium-bearing fractures range in thickness from numerous microfractures through to narrow veins up to 4cm in thickness of massive uranium mineralisation. This uranium mineralisation lies within a broader chlorite-haematite-leucoxene alteration zone.

To date, three (3) diamond holes have tested the Nabarlek South Prospect and further drilling is planned to in-fill the plunge position adjacent to Hole 2, as well as up- and down-dip along the fault. Deeper drilling is also planned further down-dip as the fault zone has the potential to kink and swell multiple times, similar to what is seen at other major uranium deposits in the region (e.g., Ranger 3 Deeps). Hole 1 (22NBDD01) confirmed the up-plunge position of the uranium mineralisation defined in historical drilling.

Hole 3 (22NBDD03), which was designed to step-out broadly down-plunge (approximately 100m) from the historic hole NARD6017, also encountered anomalous uranium, giving confidence in the continuity of the uranium-bearing fault zone, albeit off- plunge to the main shoot of mineralisation. At North Buffalo, Hole 4 (22NBDD04) intersected 9.1m @ 0.15% eU3O8 from 50.5m including 0.4m @ 0.80% eU3O8, with a similar result in Hole 6 (22NBDD06). These shallow intercepts lie within the Nabarlek Mining Lease and remain open along strike for hundreds of metres to the east and west.

DevEx plans to continue drilling along strike of these intercepts as part of the current programme.