GoviEx Uranium – Madaouela and Mutanga

GoviEx Uranium (Stock Symbols – TSX: GXU, OTCMKTS: GVXXF) is a mineral resources company engaging in the acquisition, exploration, and development of uranium projects in Africa.

The company principally holds an 80% interest in the Madaouela project located in north-central Niger.

It also owns 100% interests in the Mutanga project situated to the south of Lusaka, Zambia; and the Falea project located in Mali.

Importantly, the company holds the mining licenses for both the Mutanga project in Zambia and Madaoela project in Niger.

The companies uranium assets across these projects currently stands at just over 36 million pounds of uranium in the measured category, nearly 112 million pounds in the indicated category, and another 88.7 million pounds in the inferred category.

The Madaouela project in Niger has a completed definitive feasibility study which was completed in 2020, and provides the market guidance for the development of this mine during the 2021 – 2022 timeframe with first production occurring in 2023.

The intial mine life for Madaouela is projected to be 21 years with a steady state production of approximately 2.7 million pounds per year.

The Madaouela project currently has just over 31 million pounds in the measured, just over 79 million pounds in the indicated, and just under 28 million pounds of uranium in the inferred categories.

The Mutanga project in Zambia currently has its definitive feasibility study planned to be completed in 2021, and provides the market guidance for the development of this mine during the 2023 – 2024 timeframe with first production occurring in 2025.

The intial mine life for Mutanga is projected to be 11 years with a steady state production of approximately 2.6 million pounds per year.

The Mutanga project currently has 4.8 million pounds in the measured, just over 10 million pounds in the indicated, and just under 45 million pounds of uranium in the inferred categories.

The Falea project in Mali currently is planned to have a preliminary economic study completed in 2021.

The Falea project currently has just over 17 million pounds in the indicated, and just over 13 million pounds of uranium in the inferred categories.

The company was incorporated in 2006 and formerly known as Govi High Power Exploration Inc. before changing its name to GoviEx Uranium Inc. in September 2008.

The company had an initial public offering in June of 2014.

GoviEx Uranium Inc. is headquartered in Vancouver, Canada.

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