Vanguard Mining applies for MADES environmental licence

Executive Summary

• Vanguard Mining Corp. has submitted an environmental licence application to the Ministerio del Ambiente y Desarrollo Sostenible (MADES) in Paraguay, marking a significant milestone in the regulatory process to acquire the Yuty Prometeo uranium project.
• This submission is a key step toward obtaining a prospection permit, which is required to secure full exploration and development approvals for the project.
• The Yuty Prometeo project consists of four concessions spanning approximately 90,000 hectares in the Parana basin, adjacent to Uranium Energy Corp.'s (UEC) established Yuty deposit.

Key Details

• Regulatory Action: Submission of an environmental licence application to MADES to advance the acquisition of the Yuty Prometeo uranium project.
• Project Location: Southeastern Paraguay, within the Parana basin, an emerging energy jurisdiction.
• Project Composition:
  • Four concessions: Three "San Jose" concessions and one "Prometeo" concession.
  • Total Area: Approximately 90,000 hectares (222,395 acres).
• Prometeo Concession Details:
  • Size: Approximately 27,666 hectares (68,368 acres).
  • Contiguity: Directly contiguous to UEC's Yuty project.
  • Historical Data: 28 drill holes referenced with uranium values ranging from 0.05% to 0.10% U3O8.
  • Geological Trend: Data from Anschutz Corp. suggests the block lies on trend with UEC's adjacent Transandes block.
• San Jose Concessions Details:
  • Size: Approximately 62,210 hectares (153,754 acres) across three contiguous claims.
  • Location: Along the Upper Permian-Carboniferous contact, ~100 km northwest of UEC's Yuty project and ~40 km west of UEC's Coronel Oviedo project.
  • Exploration: Radiometric car survey delineated significant uranium anomalies across a 40 km by 10 km area.
• Adjacent Asset Context (UEC Yuty Project):
  • Indicated Resource: 8.96 million pounds of U3O8 (9,074,000 tons grading 0.049% U3O8).
  • Inferred Resource: 2.203 million pounds of U3O8 (2,733,000 tons grading 0.040% U3O8).
  • Extraction Method: In Situ Recovery (ISR), similar to UEC's Texas operations.
• Strategic Rationale: CEO David Greenway stated the move derisks the project timeline, strengthens the uranium asset pipeline, and leverages Paraguay's political stability and investor-friendly policies.

Notable Quotes

• "By advancing the permitting process at Yuty Prometeo, we are derisking the project's timeline, strengthening our uranium asset pipeline and enhancing long-term value creation opportunities for shareholders in a market, increasingly driven by global energy security and nuclear power demand." — David Greenway, CEO