GoviEx Uranium Inc. (TSX-V: GXU) (OTCQB: GVXXF) is pleased to announce that further to GoviEx’s news release of April 8, 2019, GoviEx has, through its wholly-owned subsidiary, GoviEx Niger Holdings Ltd. entered into definitive agreements with the Republic of Niger to finalize the commercial terms to progress GoviEx’s flagship Madaouela uranium project in Niger.
“On behalf of all GoviEx stakeholders, we warmly welcome the State’s deepened commitment for the joint development of the Madaouela Project. Today’s announcement marks a major milestone paving the way forward to further develop Madaouela with our Nigerien partners.” said Chairman Govind Friedland.
“We believe the outlook for the uranium market is positive. The finalisation of the Agreements represents a key step for GoviEx and Niger as we further develop the mine permitted Madaouela Project and it continues to illustrate the constructive environment that GoviEx has experienced operating in Niger since 2007. Our work on the Feasibility Study continues as we focus on improving the project economics with confirmation test work currently underway targeting the reduction of operating and capital costs,” noted CEO, Daniel Major.
The key commercial terms covered by the signed definitive agreements between the State and GoviEx are summarised below:
Each of the steps described above will now be undertaken by GoviEx and the State to ensure all required regulatory requirements are met, including but not limited to TSX Venture Exchange acceptance, as may be required. GoviEx will provide further update upon completion of the various matters described above.
The scientific and technical information disclosed in this release has been reviewed, verified, and approved by Dr. Rob Bowell, a chartered chemist of the Royal Society of Chemistry, a chartered geologist of the Geological Society of London, and Fellow of the Institute of Mining, Metallurgy and Materials, who is an independent Qualified Person under the terms of National Instrument 43-101 for uranium deposits.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About GoviEx Uranium
GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx’s principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its other uranium properties in Africa.
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