Alligator Energy obtains significant results from Samphire uranium trial

• Uranium successfully extracted from first well test pattern
• Results achieved target of 70% recovery over 70 pore volume exchanges
• Pump testing surpassing typical global ISR well flow rates
• Average grade of uranium in solution exceeded Alligator’s updated scoping study assumptions

Alligator Energy (ASX: AGE) has exceeded global rates and its own assumptions with the successful completion of the first well pattern at the Samphire uranium project field recovery trial (FRT) in South Australia.

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The company has now confirmed the strong technical viability of recovering uranium from the Samphire palaeochannel system using in-situ recovery (ISR).

CEO and MD, Dr Andrea Marsland-Smith, said the results underpin the project’s economic assumptions identified in Alligator’s scoping study.

“We are highly encouraged by the field performance of our first test pattern as our first major de-risking milestone – particularly the alignment with our model assumptions and ISR benchmarks at this stage,” Dr Marsland-Smith said.

“Achieving our target of 70% recovery, in the time we had allocated to run the test is testament to the credible science behind our assumptions and the team’s operating experience.

“With our next well test commencing soon, it is important to build increasing confidence in our models that inform planning the next phase of development at Samphire and for the company.”

Dr Marsland-Smith told shareholders the results from the first well pattern materially reduces key technical risks associated with ISR development at Samphire.

“The strong performance across recovery, flow, grade, and chloride management and reagent consumption provides a solid foundation for future project advancement.”

The data generated from the trial will be incorporated into ongoing optimisation studies that will input into a bankable feasibility study (BFS).

Following the successful completion of this first well pattern, the company will commence the second well pattern in the coming week, which is intentionally designed to test a lower grade/less permeable area at the margins of the mineralised system.

“Our forecast is that flow rates will be lower and recovery performance may take longer to assess than those achieved in the initial well pattern. This phase of testing is an important step in understanding the full spectrum hydrogeological and recovery characteristics of the deposit and will inform future wellfield design and optimisation as well as the bankable feasibility study inputs,” Dr Marsland-Smith said.

Results from the second well pattern are targeted for the third quarter of calendar year 2026.

AGE is steady at 4.1¢. Mkt cap $179.6M.

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