ReeXploration Intersects Widespread Bedrock Radioactivity in Maiden Uranium Drilling Program at Eureka Project, Namibia

ReeXploration announced preliminary results from its maiden 11‑hole, 1,729 m uranium drilling program at the Eureka Project in central Namibia. All holes intersected leucogranite host rocks; five holes recorded elevated radioactivity up to 640 cps, with several intervals exceeding 500 cps over multiple metres. Near‑surface (overburden) uranium mineralization was also encountered in seven holes, including visible carnotite and counts above 400 cps. The company says the results validate its Rössing‑style exploration model and suggest both primary deep‑seated and secondary near‑surface targets.

• New information: These are the first down‑hole radiometric data for Eureka’s uranium target. Prior releases only described surface geophysics, soil sampling, and a planned drill program. The actual counts (up to 640 cps) exceed the >500 cps threshold used in earlier airborne surveys, confirming that the anomaly persists at depth.
• Model validation: Confirmation of the Rössing‑style leucogranite host dramatically reduces geological risk and upgrades the project from “exploratory” to “de‑risked drill‑ready.”
• Dual‑commodity upside: Overburden mineralization adds a near‑surface, potentially lower‑cost uranium component alongside the primary deep target.
• Market expectation vs. reality: The market had anticipated positive results but no hard data. Delivering concrete radiometric numbers is materially better than routine updates; it moves the project into a stage where resource estimation becomes plausible within 12‑18 months.
• Risk considerations: Results are still preliminary (no assay, no full geochemical validation). The counts alone do not guarantee economic grades or continuity. Still, the data materially improve the project's technical outlook.

Overall, the news is materially positive because it provides the first hard evidence that the targeted uranium system exists at depth and aligns with the company’s stated exploration model, a step that can materially affect valuation.

ReeXploration Inc. (formerly E‑Tech Resources) focuses on critical minerals in Namibia, primarily the Eureka Project – a dual‑commodity portfolio of rare‑earth elements (REE) and uranium. The REE component hosts an inferred 310 kt @ 4.8 % TREO (0.7 % Nd+Pr). The newly identified uranium target lies southwest of the Eureka dome within the “Alaskite Alley,” a corridor that includes world‑class Rössing‑style deposits.