GTI Energy Ltd. advised that drilling at Company's ISR uranium projects in Wyoming's Great Divide Basin (GDB or Basin) is now finished for the 2022 season with 103 mud rotary exploration drill holes completed. Drilling of 70 holes was previously reported at the Thor prospect (Thor) and an additional 33 holes combined have now been completed at the Odin, Teebo & Loki prospects. These 33 holes have discovered an additional combined 2.65 miles of ISR amenable uranium mineralised roll front trends (Trends) increasing the total Trend length for GTI's projects in the Basin to 7.5 miles. DRILLING AT ODIN, LOKI & TEEBO: Drilling at GTI's Thor, Odin, Teebo and Loki, in the GDB, is now finished for the 2022 season with 103 holes completed. This total includes a combined 33 drill holes most recently completed at Odin, Teebo & Loki in addition to the 70 drill holes for 34,010 feet completed earlier at Thor. Results included discovery of an additional 1.39 miles of uranium roll front Trend at Thor which increased the total for the Thor project to date 4.85 miles. Odin, Teebo & Loki are located within circa 10 miles of the Company's Thor project. Odin & Teebo lie adjacent to Uranium Energy Corp.'s (UEC) Antelope Project. Loki sits south of Antelope & north of URE's Lost Creek. Drilling targeted exploration of mineralised Trends interpreted from historic information also used at Thor. Drilling at Odin (18 holes), Teebo (10 holes) and Loki (5 holes) successfully encountered uranium mineralisation at all 3 prospects. Results at Teebo & Loki are particularly encouraging where 14 of 15 holes encountered uranium mineralisation and 6 of those 15 holes met or exceeded cutoff for both Grade & Grade Thickness (GT). 33 holes combined were completed at Odin, Teebo & Loki for a total of 30,210 feet (9,208 metres) of drilling. The drilling successfully confirmed GTI's exploration hypothesis that Trends are present in the targeted locations & that mineralisation is below the water table at potentially viable depths for ISR mining. Initial results are observed as follows: 29 holes encountered uranium mineralisation below the water table. 6 holes met both grade & GT cutoff with an average of 0.45 GT ¡ 2.25 x the target cut-off. 13 of the remaining holes met grade cut-off but not GT, 10 had trace mineral & 4 were barren. These interim results are positive, particularly with mineralisation encountered at Teebo and Loki meeting expectations for potentially economic ISR uranium recovery. Drilling to date has confirmed GTI's exploration hypothesis and has shown that the historic data continues to be a very useful guide for drilling. Drilling has also shown that the geological and hydrogeological setting of the mineralisation encountered to date at Odin, Teebo & Loki appears to be conducive to ISR recovery with the primary host sands appearing to be extensive and below the water table. Drilling at Odin encountered mineralisation in 15 of 18 drillholes with 6 of these holes encountering mineralisation in excess of 0.02% eU3O8. Mineralisation occurs in multiple sandstone units over a 700+ foot thick section of alternating sandstone and silt/shale units from approximately 200 to 900 feet in depth. While mineralisation was encountered in both the northwest and southeast portions of the claims, the most promising drill hole, GTI-1012-OD, is located in the south-eastern portion of the claims. Approximately 4,200 feet of projected roll front trend length is interpreted at Odin from these results. Drilling at Teebo delivered encouraging results with all 10 drillholes completed exceeding
0.02% eU3O8 grade. 5 of these holes exceeded the target 0.2 GT with an average GT of 0.44. Mineralisation occurs in multiple sandstone units over a 600+ foot thick section of alternating sandstone and silt/shale units from approximately 450 to 990 feet in depth. These results have led to projection of approximately 6,800 feet of roll front trends at Teebo. Drilling to date at Loki has been encouraging with mineralisation encountered in 4 of 5 drillholes with 2 of these holes encountering mineralisation in excess of 0.02% eU3O8, and 1 hole exceeding target grade thickness at 0.51 GT. Mineralisation occurs in multiple sandstone units over a 700+ foot thick section of alternating sandstone and silt/shale units from approximately 200 to 900 feet in depth. Mineralisation was encountered in both the west and east portions of the Loki claims. Approximately 10 additional holes are permitted at Loki and may be drilled in 2023. From the results to-date, approximately 3,000 feet of roll front trends can be projected at Loki. Analysis of historical drill hole maps resulted in the interpretation of approximately 37,000 feet of roll new front trends across the Odin, Teebo, and Loki claims. Drilling results to date have confirmed & refined approximately 14,000 feet of the targeted roll front trends interpreted from the historical data.