Quarterly Report

• Appointment of David Woodall as Managing Director and Chief Executive Officer (effective 17 October 2022), contributing over 30 years of international mining experience across technical, managerial, consulting, executive and director roles.

• Acting CEO, Dr Will Goodall accepted the role of Chief Operating Officer, effective 17 October 2022.

• Resource upgrade drilling program at Tiris Uranium Project in Mauritania proceeded on schedule, with targeted completion in Q4 CY22.

• Engineering Consultants engaged for Phase 1 of Tiris Uranium Front End Engineering Design (“FEED”) study and work completed by Wallbridge, Gilbert and Aztec (WGA) on leaching, ion exchange and purification plant, with final report from SENET on beneficiation circuit and infrastructure expected Q4 CY22.

• Key Management Plans for authorisation of uranium production and export for Tiris Uranium Project submitted to National Authority for Radioprotection, Safety and Nuclear Security (“ARSN”) in Mauritania

• Aura Energy met with local government and community in Zouerat, Tiris Zemmour region to discuss community engagement strategies.

• Continued discussions with nuclear utilities and traders to secure additional uranium offtake contracts for the Tiris Phase 1 Fast Track Project.

• Swedish election occurred on 11 September with energy security a primary issue, and Aura acknowledging the results of the Swedish parliamentary election, congratulating the newly elected members, and committing to work positively with a future government on the development pathway for its Häggån project.

Aura Energy (ASX:AEE) (AIM:AURA) is an Australian based minerals company that has major polymetallic and uranium projects with large resources in Europe and Africa. The Company has rapidly grown by acquiring new projects in areas with known polymetallic and uranium occurrences including Sweden and greenfield projects in Mauritania.

The Company is now focused on the Tiris Uranium Project, a major greenfields uranium discovery in Mauritania, with Aura Energy announcing a Resource Upgrade in August 2021 of 10% or 5.0 million lb U3O8 bringing the total JORC Resource to 56 Mlbs (at a 100 ppm U3O8 lower cut-off grade).

Aura Energy also completed a capital estimate update for the Tiris Definitive Feasibility Study, to reflect current global pricing, with these 2021 figures reconfirming Tiris as one of the lowest capex, lowest operating cost uranium projects.

The Company is now undertaking Stage 2 exploration at Tiris, as it progresses the project to near term production.

PHIL MITCHELL - NON-EXECUTIVE CHAIRMAN

• Significant experience in mining M&A having held former roles as Head of Business Development and Strategy at Rio Tinto. Former CFO of Rio Tinto Iron Ore, member of the Executive Committee at Anglo American, and headed acquisitions for billionaire Robert Friedland’s company, HPX.
• As Head of Business Development and Strategy at Rio Tinto, he was responsible for managing all aspects of the company’s asset and commodity portfolio and was accountable for the M&A portfolio and divestments, in addition to the daily management of the BHP takeover proposal.
• As the CFO of Rio Tinto’s iron ore business, one the largest Australian business units, he oversaw all commercial aspects of the business including relationships with all JV partners and government. He was also responsible for developing the strategic plan that dominated profitable expansion to support China’s growth.

DAVID WOODALL - MANAGING DIRECTOR & CEO

• A senior, corporate executive with a mining engineering qualification and 30 years’ experience across exploration, operations, project development, community alignment and engagement in the mineral resources industry including rare earths, critical minerals, gold, copper, iron ore and nickel.
• Has served as the Managing Director & CEO of publicly listed companies and has held senior positions with Rio Tinto, Fortescue Metals Group, Newcrest Mining and Ivanhoe Mines.
• Experienced at transitioning companies from explorers to producers and has overseen transformation and change management in complex and difficult operating environments, driving and linking strategic, operational and transformational change strategies in organisations.

PATRICK MUTZ - NON-EXECUTIVE DIRECTOR

• Former MD & CEO of African focussed uranium company, Deep Yellow (ASX:DYL) and Alliance Resources (ASX:AGS).
• Holds uranium operational experience in open cut, underground, and in-situ mining and related processing. 
• Currently MD & CEO of Image Resources (ASX:IMA), which he drove into production to become a profitable mining company, with early repayment of debt. 

WARREN MUNDINE - NON-EXECUTIVE DIRECTOR

• Prominent Australian independent thinker and thought leader in the mining sector and nuclear power space and has worked on numerous major resource projects for leading companies including Fortescue Metals Group, Rio Tinto, BHP and AGL Pipelines & Engineering Waanyi Downer Joint Venture.
• Former director of the Australian Uranium Association and currently the MD and CEO of Nyungga Black Group Pty Ltd, an advisory consultancy, which holds controlling interest in several companies across a diverse range of industries including mining resource consulting.
• Former host of Sky News and Win Television and is currently a director of Australian Government owned television station, Special Broadcasting Services (SBS).

BRYAN DIXON - NON-EXECUTIVE DIRECTOR

• Over 20 years’ experience in the resource sector as a chartered accountant building junior exploration companies into mining producers, with extensive experience in the management of public and listed companies, and joint winner of the Mines and Money Asia-Pacific Mining Executive of the Year in 2017.
• Held numerous director and management roles with emerging resource companies and founding Managing of Blackham Resources (ASX:BLK), now Wiluna Mining Corporation (ASX:WMC). Former roles with international accounting firm, Resolute Limited and Archipelago Resources, and specialises in project acquisition, exploration, feasibility, financing, development and operations of mining projects to production.

DR WILL GOODALL - CHIEF OPERATING OFFICER

• Worked with Aura for over 10 years holding the role of Aura’s Principal Metallurgist since 2018.
• Responsible for delivering the Tiris Uranium Scoping and Definitive Feasibility Studies, and the Häggån Uranium Scoping Study.
• Holds a Bachelor of Chemical Engineering and Doctor of Philosophy (Chemical Engineering), with over 20 years of experience in geometallurgy, mineral processing and hydrometallurgy across a wide range of commodities.