Cauldron Energy Strikes High-Grade Uranium at Manyingee North Discovery

Cauldron Energy Delivers Exceptional Uranium Results at Manyingee North Discovery

Cauldron Energy Limited (ASX: CXU) has delivered outstanding drilling results from its latest campaign at the Manyingee North discovery, reporting exceptional intersections including 4.53 metres at 1,280.2 ppm eU₃O₈ and extending the mineralisation footprint across 1,400 metres in width and 700 metres along strike. The results cement the Manyingee North discovery by Cauldron Energy Ltd as another significant uranium prospect within the company's expanding Yanrey Uranium Project portfolio.

Furthermore, this discovery now hosts over 42 million pounds of uranium oxide across multiple deposits in Western Australia's highly prospective Pilbara region. The consistent high-grade results position Cauldron as a leading player in Australia's uranium renaissance.

Exceptional High-Grade Results Expand Discovery Footprint

The latest phase of drilling at the Manyingee North discovery by Cauldron Energy Ltd has delivered consistent high-grade uranium mineralisation across all 23 completed drillholes. Several standout intersections showcase the prospect's robust grade and continuity, demonstrating the exceptional quality of this emerging uranium resource.

Key Results from Recent Drilling:

• 25YRAC049: 4.53m @ 1,280.2 ppm eU₃O₈ from 95.40m
• 25YRAC046: 4.33m @ 330.8 ppm eU₃O₈ from 99.59m; 3.66m @ 368.4 ppm eU₃O₈ from 104.15m
• 25YRAC052: 2.44m @ 386.0 ppm eU₃O₈ from 97.06m
• 25YRAC047: 1.57m @ 547.9 ppm eU₃O₈ from 91.19m
• 25YRAC051: 1.73m @ 422.5 ppm eU₃O₈ from 102.66m

The mineralisation remains open in all directions, with geophysical data indicating the Manyingee North ancient channel system extends northwards for at least 7 kilometres within Cauldron's tenements. This presents significant exploration upside for continued resource expansion.

"We are very excited by the results from Manyingee North, which have proven another new discovery at Yanrey. Interpretation of geophysical data suggests there is potential to extend mineralisation significantly, with mineralisation being open in all directions," commented CEO Jonathan Fisher.

Strategic Location Within World-Class Uranium Province

The Manyingee North discovery by Cauldron Energy Ltd occupies a prime position within the broader Yanrey Uranium Province. The strategic location offers significant operational advantages and potential synergies with existing uranium resources in the region.

The discovery is positioned:

• 2.5 kilometres northeast of Paladin Energy's (ASX: PDN) Manyingee Deposit (25.9 Mlbs uranium oxide)
• 8 kilometres northwest of Cauldron's own Manyingee South Deposit (11.1 Mlbs uranium oxide)
• 19 kilometres from Cauldron's flagship Bennet Well Deposit (30.9 Mlbs uranium oxide)

This strategic clustering creates potential operational synergies and supports the development of a regional uranium processing hub within Cauldron's 1,340 km² Yanrey project area. The discovery lies within a separate northeast-trending ancient channel system, demonstrating the diversity and scale of uranium-bearing geological structures across the project.

In addition, Cauldron has identified over 20 high-ranking ancient channel targets, with the Manyingee North discovery by Cauldron Energy Ltd representing just one of multiple exploration opportunities. This comprehensive target inventory provides substantial runway for continued exploration success.

Understanding Ancient Channel-Hosted Uranium Deposits

What Makes Ancient Channel Systems So Valuable?

An ancient channel is a former river or stream channel that has been filled with sediments over geological time. In uranium exploration, these structures are highly significant because they can host large, economically viable uranium deposits.

Ancient channel-hosted uranium deposits are typically:

• Large in scale – capable of hosting multi-million-pound uranium resources
• Amenable to low-cost extraction – often suitable for in-situ recovery (ISR) mining methods
• Geologically predictable – following known channel systems that can be traced and explored systematically

Technical Characteristics of Manyingee North

At the Manyingee North discovery by Cauldron Energy Ltd, uranium mineralisation is hosted within carbon-rich coarse sand units at depths of approximately 90 metres. This shallow depth makes it potentially suitable for ISR extraction methods that offer lower capital and operating costs compared to conventional mining.

Key Technical Terms:

• eU₃O₈: Equivalent uranium oxide, the standard unit for reporting uranium grades
• ppm: Parts per million, expressing uranium concentration
• Grade × Thickness (GT): A measure combining both grade and width to assess intersection significance
• Roll-front mineralisation: A crescent-shaped uranium deposit formed by groundwater flow

Comprehensive Resource Portfolio Continues Growing

Cauldron's drilling success at Manyingee North adds to an already substantial uranium inventory across the Yanrey project. The company's systematic exploration approach continues to deliver new discoveries and resource additions across multiple prospects.

The discovery of Manyingee North demonstrates Cauldron's systematic exploration approach is successfully identifying new uranium deposits within the highly prospective Yanrey province. With over 80 kilometres of prospective Cretaceous-age coastline under tenure, the company maintains significant exploration upside across multiple untested targets.

However, the true potential of the Manyingee North discovery by Cauldron Energy Ltd may only be realised through continued systematic drilling across the identified 7-kilometre northern extension. This represents a substantial near-term opportunity for resource expansion.

Upcoming Catalysts and Development Timeline

Immediate Priorities for 2025-2026

Q1 2025 Objectives:

• Complete remaining Manyingee North drilling programme
• Finalise interpretation of geophysical data across the broader channel system
• Initiate planning for the 2025 field season expansion

2025 Field Season Plans:

• Systematic drilling of the 7-kilometre northern extension
• Resource definition drilling across established mineralised zones
• Geotechnical studies supporting future development planning

2026 Development Milestones:

• Diamond drilling programme to twin high-grade aircore holes
• Maiden resource estimate for Manyingee North
• Metallurgical testing programme to confirm ISR suitability

Strategic Development Objectives

The company maintains multiple strategic objectives supporting long-term value creation. These include resource expansion across multiple deposits within the Yanrey province and metallurgical testing to confirm ISR suitability for cost-effective extraction.

Moreover, regulatory engagement supporting Western Australian uranium policy development and regional consolidation opportunities within the broader uranium province remain key focus areas. The company has completed 4,237 metres of drilling in 2025 across 56 drillholes, with comprehensive geophysical surveys providing clear targeting for future exploration programmes.

Investment Thesis: Premier Exposure to Australia's Uranium Renaissance

Scale and Quality Advantages

With over 42 million pounds of uranium oxide across multiple deposits, Cauldron controls one of Australia's most significant undeveloped uranium provinces. The consistent delivery of high-grade results across multiple prospects demonstrates the world-class nature of the Yanrey project.

The identification of over 20 high-priority targets within an 80-kilometre prospective trend provides multiple pathways for resource growth. For instance, Manyingee North's 7-kilometre northern extension alone presents substantial near-term drilling targets with significant resource expansion potential.

Technical and Economic Advantages

Shallow, ancient channel-hosted deposits are ideally suited for low-cost ISR extraction, offering superior project economics compared to conventional mining methods. The proximity of multiple deposits supports efficient regional development strategies and potential operational synergies.

Furthermore, Western Australia's evolving uranium policy landscape provides a clear pathway for project advancement. Cauldron maintains active engagement with regulatory authorities, positioning the company advantageously for future development approvals.

Market Positioning and Timing

Global uranium market fundamentals continue strengthening, driven by nuclear energy renaissance and supply-demand imbalances supporting sustained higher uranium prices. Cauldron's position as a premier Australian uranium developer offers investors leveraged exposure to these favourable market dynamics.

Cauldron Energy Limited (ASX: CXU) continues building Australia's most comprehensive uranium development pipeline, with the Yanrey project positioned as a cornerstone asset in the global nuclear fuel supply chain. With ongoing drilling success and multiple near-term catalysts, the company advances steadily toward production readiness whilst maintaining substantial exploration upside across its world-class uranium province.

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