Skeleton Coast Uranium Completes Digitisation of Historical Exploration Data for Its Five Namibian EPLs and Defines Priority Target Areas for Field Validation

Skeleton Coast Uranium Corp. has completed the second and final phase of historical data digitization across its five Exclusive Prospecting Licences (EPLs) in Namibia. The company consolidated approximately 140 historical sheets into a single georeferenced GIS dataset. This process defined priority target areas on each license using a dual prospectivity model, identifying primary leucogranite-associated uranium and secondary calcrete-hosted palaeochannel uranium.

The company also commissioned the reprocessing and reinterpretation of regional airborne magnetic and radiometric data, with results pending finalization. Phase 2 field validation, which includes scintillometer traverses, geological mapping, radon surveys, and geochemical sampling, is scheduled to begin in the fourth quarter of 2026 on EPL 8617, pending land access agreements. Subsequent fieldwork on EPL 9727 and other licenses remains subject to environmental permits and park entry approvals.

Skeleton Coast Uranium Corp. reaffirmed its commitment to incur CAD$5 million in exploration expenditures across the five EPLs by June 2028.

Skeleton Coast Uranium Corp. (SKEL) announced a logical progression of its decision-gated exploration program, which was previously outlined in August and September 2026. The update is strictly preparatory, focusing on data consolidation and target refinement, with no new drill results, resource estimates, or commercial milestones disclosed.

The completion of digitization and target definition reduces exploration uncertainty but does not de-risk the project to the point of resource definition or financing acceleration. The recent $5 million private placement in September 2026 provides adequate near-term runway to execute Q4 field validation and meet June 2028 expenditure commitments, mitigating immediate dilution concerns. Overall, the news is incremental and aligns with prior management guidance, maintaining the company’s pre-revenue, exploration-stage status.

Skeleton Coast Uranium Corp. is a pre-revenue mineral exploration company focused on uranium and base metal properties in Namibia and British Columbia. Its flagship portfolio consists of five Exclusive Prospecting Licences (EPLs) in Namibia's Erongo Region, covering approximately 610 km². These licenses are strategically located 10-25 km from major operating uranium mines, including Rössing, Husab, and Langer Heinrich, which collectively produce ~10% of global uranium output.

The project features a dual prospectivity model targeting both primary leucogranite-associated uranium, analogous to Rössing and Husab, and secondary calcrete-hosted palaeochannel uranium, analogous to Langer Heinrich. No mineral resources have been defined; all historical data remains conceptual and unverified by the Qualified Person.