Noble Plains applies for drill permit at Duck Creek

Executive Summary

• Noble Plains Uranium submitted a drill permit application for a 198‑hole program on the newly optioned Duck Creek project in Wyoming’s Powder River Basin.
• The program allocates 174 holes (88%) to expand the mineral outline from the recent NI 43‑101 technical report and 24 holes (12%) to verify 1,317 historical intercepts, emphasizing capital efficiency.
• Results are intended to support an initial NI 43‑101‑compliant resource estimate for Duck Creek by the first half of 2025.

Key Details

• Permit Application: Submitted for a 198‑hole drilling program on the Duck Creek project shortly after closing its acquisition.
• Program Design:
• 174 holes (88%) aimed at expanding the mineralized footprint defined in the newly completed NI 43‑101 technical report.
• 24 holes (12%) dedicated to confirming 1,317 historical intercepts within the existing mineral outline.
• Target Definition (NI 43‑101): Exploration target of 2.37 Mt at 0.03 % U₃O₈ to 5.45 Mt at 0.05 % U₃O₈; conceptual and not yet a defined mineral resource.
• Geology Focus: Entirely on shallow Wasatch Formation mineralization; deeper Fort Union formation to be explored in a later campaign.
• Strategic Rationale: Demonstrates Noble Plains’ “acquire, advance and build” strategy, leveraging existing data to efficiently add pounds of uranium‑bearing material.
• Timeline: Drilling to commence shortly after permit issuance; results expected to feed into an NI 43‑101‑compliant resource estimate by H1 2025.
• Quotes:
• Drew Zimmerman (President): Emphasized rapid permitting as a reflection of the company’s strategy and market urgency.
• Paul Cowley (CEO): Highlighted the upside potential and capital efficiency of confirming historic drilling while expanding the mineralized footprint.

Notable Quotes

“Submitting permits this promptly after acquisition is a clear reflection of our strategy at Noble Plains: acquire, advance and build pounds in the ground efficiently.” – Drew Zimmerman, President

“With a small number of confirmation holes, we can validate the historic drilling, while the bulk of the program is strategically designed to expand the mineralized footprint… the opportunity is not just to confirm what's already outlined, but to potentially move beyond the upper limits of the exploration target toward a larger, more meaningful uranium project.” – Paul Cowley, CEO