Atomic Eagle and Niger forge agreement to advance Madaouela Uranium Project

Atomic Eagle Ltd. is pleased to announce it has agreed to terms of a mining convention with the Republic of Niger, restoring its interest in the Madaouela Uranium Project, which hosts a significant Mineral Resource estimated at 116.5Mlbs of U₃O₈.

This development, combined with Atomic Eagle’s flagship Muntanga Project in Zambia, holding a JORC Mineral Resource of 58.8Mlbs of U₃O₈, creates a dual-asset uranium platform that significantly enhances the company’s scale and portfolio depth. Supported by extensive historical drilling and prior technical studies, Madaouela offers a strong foundation for further evaluation and optimization, while providing greater flexibility for various development, funding, and strategic pathways.

Highlights

• Terms agreed for a new Mining Convention, with an exploitation permit granted to Madaouela Mining Company SA (“MAMICO”).
• Atomic Eagle to hold a 60% interest and operational control; the Nigerien state retains a 40% interest (15% free carried plus 25% contributing).
• The Mining Convention includes strong contractual protections such as legal and tax stabilization provisions and clear project offtake arrangements.
• Madaouela hosts a 116.5Mlbs U₃O₈ resource at 1,282 ppm (foreign estimate), supported by extensive historical drilling and feasibility studies.
• Approximately 600,000 metres of historical drilling underpin Madaouela, with GoviEx investing around US$160 million, providing a substantial technical foundation.
• Resource verification and technical optimization are underway, with a JORC Mineral Resource expected in 2026.
• Muntanga remains Atomic Eagle’s flagship development asset and primary focus, with Madaouela adding scale and strategic flexibility.

Atomic Eagle CEO Phil Hoskins said, “Re-establishing our interest in Madaouela represents a transformational outcome for Atomic Eagle, significantly increasing our resource base and adding a second advanced uranium project to our portfolio.”

“Madaouela is a large, high-grade uranium asset supported by extensive historical work, and we see clear opportunities to further define and optimize the project’s development potential.”

“This agreement has been achieved through constructive engagement with the Government of Niger and delivers a strong, commercially balanced outcome following a period of dispute. I would like to thank Niger’s Minister of Mines, His Excellency Colonel-Commissioner Abarchi Ousmane, and his team for sharing our commitment to finding a mutually beneficial solution to the historical dispute.”