. Mining operating and capital costs have been updated with a high degree of confidence as they are based on current supplier quotes to define owner-operator operating costs of USD 2.06 /tonne mined. The M&M and MSNE-Maryvonne deposits are planned to be mined as two independent underground room and pillar operations.

M&M is to be mined first following completion of the Miriam open pit operation, with MSNE-Maryvonne mined after M&M. These mining methods are similar to the adjacent ORANO S.A.'s. COMINACK mine and SOMAIR mine, which together created a wide pool of skilled, trained labor in the area. At both underground operations the mine development and ore production operations are planned to be by conventional drill and blast. Ore panels are to be mined as room and pillar, with ventilation provided by multiple raise bored holes positioned in each panel.

Mined ore is expected to be fed onto a conveyor system via feed breakers. Run of mine ore will be sorted at the portal by X-ray fluorescence ("XRF"), and post sorted ore is planned to be trucked to the process plant at a rate of 1.0 Mtpa. M&M development is planned to take 18 months until first ore, with an estimated production duration of 11 years.

MSNE-Maryvonne decline and development are planned to start in Year 10, with a development period of 28 months and an estimated production duration of 5 years. Updates to the underground mining study include: M&M mine design updated with adjustments to main access tunnels and panel orientations in the SW of the deposit, Increased granularity in M&M's mine schedule following a new approach to define the ore body mining tonnes. Review and update of the mine ventilation approach for both M&M and MSNE- Maryvonne mine.

Reserve update following mine design adjustments and resource classification update. Underground mining costs have been updated following a cost model rebuild and minor cost input updates, with owner-operating costs of USD 31.44 per tonne of ore mined. Besides the improvements in the underground mine plan, there have also been schedule and overall underground mining assumption improvements.

The underground mining study has updated considerably but overall remains at a pre-feasibility level.