Reexploration to begin drill program at Eureka

Executive Summary

• Reexploration Inc. announces that its 2026 uranium drill program at the Eureka project in Namibia is fully funded and entering the execution phase.
• The company has shifted focus from financing to execution, targeting high-priority uranium anomalies identified during 2025 work programs.
• The Eureka project is being repositioned as a dual-commodity critical minerals project, combining its established rare earth element foundation with new uranium exploration opportunities.

Key Details

• Drill Program Status: The 2026 uranium exploration drill program is fully financed and moving into the execution phase with detailed drill planning underway.
• Target Definition: The program aims to test high-priority uranium anomalies defined in 2025, which are supported by coherent radiometric and geochemical anomalies consistent with large, intrusion-related uranium systems.
• Project Repositioning: Eureka is now considered a dual-commodity critical minerals project, pairing a rare earths system (supported by clean monazite concentrate production) with a newly defined, high-priority uranium target.
• 2025 Financing Milestones:
  • Closed two private placements in the fall of 2025.
  • Raised a total of $1.95 million to finance continuing and coming exploration activities.
  • Included $1 million raised in December specifically to advance near-term exploration objectives and initiate uranium drilling.
• Strategic Focus: Interim CEO Christopher Drysdale stated that 2026 is about "drilling and results," with the belief that the program has the potential to materially expand the scale and strategic relevance of the Eureka project.
• Qualified Person: Tolene Kruger, BSc (honours), MSc, a consulting geologist and registered professional natural scientist (SACNASP, registration No.: 148182), has reviewed and approved the scientific and technical information. She is a qualified person under National Instrument 43-101 but is not independent of the company.

Notable Quotes

• "Two thousand twenty-five was a pivotal year for Reexploration. With drill financing now complete, our focus has shifted decisively to execution... Two thousand twenty-six is about drilling and results, and we believe this program has the potential to materially expand the scale and strategic relevance of the Eureka project." — Christopher Drysdale, Interim Chief Executive Officer