Vanguard obtains final licences for Paraguay uranium

Executive Summary

• Vanguard Mining Corp. has received its final set of environmental licenses from Paraguay's Ministry of Environment and Sustainable Development (MADES), bringing the total to four licenses for its 90,000-hectare Yuty Prometeo-San Jose uranium project.
• This regulatory milestone completes the environmental approval process for the project, with no additional environmental licenses outstanding, and positions the company to apply for a Prospection permit from the Vice Ministry of Mining and Energy (VMME).
• The update coincides with Paraguay's increased visibility in global critical mineral supply chains, highlighted by its participation in a U.S. Department of State summit on critical minerals, reinforcing the strategic relevance of Vanguard's uranium portfolio.

Key Details

• Environmental Licenses: Vanguard received the final set of environmental licenses from MADES, totaling four licenses for the Yuty Prometeo-San Jose project.
• Project Scope: The project covers approximately 90,000 hectares (222,395 acres) in southeastern Paraguay, within the Parana basin.
• Next Steps: Vanguard has applied for a Prospection permit with the VMME, a critical step toward full-scale uranium exploration authorization.
• Strategic Context: Paraguay participated in a high-level ministerial summit in Washington, D.C., on Feb. 4, focusing on technical cooperation and supply-chain alignment for critical minerals including uranium.
• Historical Data (Prometeo Concession):
  • Spans approximately 27,666 hectares (68,368 acres), contiguous to Uranium Energy Corp.'s (UEC) Yuty project.
  • Historical records reference 27 drill holes averaging 165 meters in depth.
  • Spectral Gamma logging identified uranium in seven holes.
  • Six holes reported anomalous uranium values of 0.01% to 0.02% U3O8.
  • One hole reported strongly mineralized rock of 0.05% to 0.10% U3O8 over a 107-meter length.
• Historical Data (San Jose Concessions):
  • Encompass approximately 62,210 hectares (153,754 acres) across three adjacent claims.
  • Located approximately 100 km northwest of UEC's Yuty project.
  • Radiometric car surveys delineated significant uranium anomalies across a 40km by 10km area.
• Adjacent Property Context (UEC Yuty Project):
  • Spans approximately 117,359 hectares.
  • Indicated resource: 8.96 million pounds U3O8.
  • Inferred resource: 2.20 million pounds U3O8.
• Disclaimer: The drill results referenced are historical; Vanguard has not yet completed NI 43-101 compliant verification and plans confirmatory drilling.

Notable Quotes

• "The environmental licences now cover the entirety of Vanguard's land position at Yuty Prometeo-San Jose and represent the final environmental approvals required for the project, with no additional environmental licences outstanding. This positions the company at an advanced stage of the Paraguayan permitting process."
• "The receipt of our final MADES environmental licences marks a significant permitting milestone and further advances the Yuty Prometeo-San Jose uranium project toward Prospection authorization. These approvals meaningfully derisk the project and reflect continued regulatory progress in Paraguay."
• "As global demand for uranium and other critical minerals continues to grow, Paraguay is emerging as a stable and underexplored jurisdiction of increasing strategic relevance. Vanguard is focused on responsibly advancing high-quality uranium assets and positioning the company to participate in the development of diversified and secure nuclear fuel supply chains."