A high grade, basement hosted discovery along a mineralized trend with tremendous potential for additional discovery along underexplored corridor¹

The Gemini Project (Gemini) is high grade, near surface uranium discovery in the Athabasca Basin. The discovery remains open at the mineralized zone. (Refer to Image 2: Plan View of Gemini Drilling), and the system has scale as recently demonstrated when uranium was intersected 65m south and 280m North of the Gemini mineralized zone, along with the uranium pathfinder dravite intersected 1 km north of the mineralized zone. No exploration has occurred on the Western Trend of the discovery (Refer to Image 3: Results of the winter 2023 Gemini drill program (background colour shaded image is first vertical derivative magnetics). (Refer to 4 May 2023 ASX Release). Gemini an unconformity-associated uranium exploration project located on the eastern margin of the Athabasca Basin, 27km southeast of the McArthur River uranium mine, 60km northeast of the Key Lake uranium mill and 780km northeast of the regional centre of Saskatoon. Gemini consists of 13 granted mineral claims with a total area of 445.3km. The Gemini uranium discovery is a near surface, high grade basement hosted discovery defined over 200x220m.

The Gemini Project straddles the eastern margin of the Athabasca Basin. In the eastern and north-eastern parts of the project area the unconformity between the Athabasca Basin and underlying crystalline basement rocks is shallow and typically buried beneath glacial sediments or is completely absent. The unconformity is interpreted to dip gently to the northwest and may reach depths of up to 170m in the western part of the Gemini Project. Historic prospecting and surface mapping at Gemini identified numerous radioactive boulders, lake sediment and muskeg samples (up to 663 ppm uranium) in the southern part of the project area indicating a radioactive source up-ice direction to the northeast.

During the summer of 2021, drilling by 92 Energy targeted VTEM conductors up-ice direction from the historic radioactive samples identified on surface. On its 4th drillhole ever as a Company, GEM-004 intercepted 5.5m of 0.12% U3O8 (1,200 ppm) including 1.0m of 0.28% U3O8 (2,800 ppm). Since this discovery hole 92 Energy has carried out a winter-22 drill program (Feb-April 22) and summer-22 drill program (July -Aug 2022). With 91% of holes intersecting mineralization during the winter-22 drill program and 81% of holes intersecting uranium mineralization during the summer-22 drill program (Refer to ASX releases below). 92 Energy recently completed 4,400m program Winter 2023 drill program with uranium intersected grading up to 9.7% U308. (Refer to 4 May 2023 ASX Release).