MACUSANI URANIUM PROJECT, PERU
PROJECT OVERVIEW
At Macusani, we are advancing one of the world’s largest and lowest-cost uranium deposits to help meet the need for clean and efficient energy -strategically-sourced in the Americas.
PROJECT HIGHLIGHTS
1.8 Years Payback, Post-Tax
US$
0
M
NPV (8%)
IRR 40.6%, at US$50/lb U3O8
Low Capex
~US$
0
M
Initial Capital
Low Cost
US$
0
/lb
LOM Cash Cost & ~$18/lb AISC*
*Non-IFRS Reporting Measure
Control of All Defined Uranium Resources in Emerging Uranium District

- Large scale: proposed production averaging over ~6 Mlbs U3O8 per year over a 10 year mine life
- PEA mine plan resources: ~70 Mlbs U3O8 at 289 pp
- 47+ targets around existing defined deposit
- Expansion drilling at Macusani to expand existing resource
- Updating Macusani PEA to incorporate upgrading/tank leach option
- Five near surface deposits included in the PEA mine plan
- Hosted in porous volcanic rock → rapid leach and low acid consumption
- Align existing Peruvian Radioactive Export/Transport rules with IAEA for U3O8
ADVANTAGES
Exploration Advantages
Existing Deposits
- Targeted drilling in and around existing defined deposits
- Infill drilling in inferred deposits outside current PEA mine plan
Kihitian Complex
- Tantamaco South East – targets in between Tantmaco and Quebrada Blanca deposits
- Untested post-land consolidation of extensions to mineralized manto horizon
Regional Targeting
- +47 additional targets property wide
- 85% of exploration land package undrilled – untested targets for early follow-up
Processing Advantages
Processing
- Tank leach option work to be advanced
- Potential for better recoveries & shorter leach cycle
- Mid-90’s in early tests vs. 88% in PEA
- Capex/opex vs. recoveries trade off
Pre-Concentration
- Potential economic improvement with size/screen sorting
- 85% uranium contained in 50% of mass in fine fraction)
- Potential for less material handling, higher processed grades, reduced processing throughput and smaller plant footprint
Scalability
- Phased expansion, smaller initial capex options to be reviewed
- 2 to 6 Mlbs U3O8 annual production ranges considered previously
- Review + engineering work in consideration
Different Uranium ppm Cutoffs
ALTERNATE CASE METRICS
- Kihitian Complex includes the Chilcuno Chico, Quebrada Blanca, Tuturumani and Tantamaco deposits updated May 6, 2015.
- Isivilla Complex includes the Isivilla, Calvario Real, Puncopata and Calvario I deposits, updated May 6, 2015
- Corani Complex includes the Calvario II, the Calvario III and Nueva Corani deposits, updated May 6, 2015
- Colibri II-III and Tupuramani remain unchanged, last updated August 14, 2013
- Corachapi remains unchanged, last updated September 8, 2010
Plateau Energy Metals was acquired by American Lithium in May, 2021.
August 31, 2023