Alligator Energy Initiates Extensive Drilling at Samphire Project After Acquiring Mullaquana Crown Lease

Alligator Energy’s Strategy in Uranium and Energy Metals Portfolio Development

Alligator Energy Limited is a uranium and energy metals exploration and project development company focused on securing clear approval and development pathways across its multi-jurisdictional asset portfolio. The Samphire Project, located in Australia, is a cornerstone asset comprising multiple deposits with varying resource definitions, positioning the company to capitalize on the global energy transition and rising uranium demand.

The company’s operational approach emphasizes systematic exploration and resource definition drilling to advance key value drivers. By executing the call option for Mullaquana, Alligator Energy gained access to highly prospective, previously unexplored ground. This strategic expansion of the Samphire Project’s footprint unlocks significant exploration potential. The swift commencement of drilling post-acquisition reflects management’s commitment to accelerating the project’s growth and resource expansion.

Significance of the Mullaquana Crown Lease Acquisition for Exploration

The call option execution to purchase the Mullaquana Crown Lease initiates the first exploration activities in this area, granting Alligator Energy access to ground long recognized as prospective for uranium mineralisation. Strategically located between the existing Blackbush and Plumbush deposits, the lease enables systematic exploration of the corridor connecting these deposits and the southern extensions of Blackbush. This positioning facilitates testing mineralisation continuity across a wider area, unlocking further resource growth potential within Samphire.

The timing of the acquisition and immediate drilling commencement highlights management’s focus on rapid execution of the Samphire growth strategy. Securing the crown lease and quickly initiating drilling positions Alligator Energy to deliver substantial updates to the mineral resource base during this exploration phase. The newly accessible area offers opportunities to expand the total mineral resource and strengthen the development case as the Bankable Feasibility Study advances. This exploration sequencing demonstrates a clear strategic path from resource definition to development readiness.

Drilling Program Targeting Three Principal Mineralisation Zones

The drilling campaign is designed to achieve three objectives: extending the southern boundaries of the Blackbush deposit, infill drilling at Plumbush to upgrade inferred resources to indicated status, and testing mineralisation continuity in the corridor between Blackbush and Plumbush. This comprehensive approach maximizes the value of the newly acquired lease while simultaneously advancing multiple exploration targets. Approximately 300 drill holes represent a significant investment in resource definition and expansion.

At Blackbush, drilling focuses on southern extensions of the deposit, which currently holds 18 million pounds of U8O8 inferred resource. Infill drilling at Plumbush aims to upgrade as much of the 12 million pounds U8O8 inferred resource as possible to indicated classification within the year, enhancing confidence in this deposit. Testing continuity between the deposits may identify previously unrecognized mineralisation in the connecting corridor. This structured program addresses diverse technical and commercial goals in a coordinated manner.

Recent Resource Growth Bolsters Expanded Exploration Efforts

Prior to the current drilling program, the Samphire Project’s mineral resource base grew substantially, increasing by 67% to 30 million pounds of U8O8. This growth reflects contributions from both Blackbush and Plumbush deposits and reinforces confidence in the project’s prospectivity. It supports expanded exploration and progression towards feasibility study phases. The resource growth evidences successful identification of significant uranium mineralisation within the project area.

The current drilling program offers upside potential beyond the existing resource base. Management anticipates that results from the 300 planned drill holes will underpin a mineral resource update in Q1 2027, indicating confidence in further resource expansion. This sequencing of drilling and resource updates facilitates progressive improvements in resource definition, supporting investor engagement and advancing the Samphire Project’s development case.

Advancement of Bankable Feasibility Study and Mining Inventory Enhancement

Alligator Energy is progressing a Bankable Feasibility Study (BFS) for the Samphire Project, a vital step from exploration to development. Drilling results are expected to increase the mining inventory available for the BFS, potentially improving project economics and development parameters. Systematic drilling to expand and upgrade the resource base aims to enhance ore quality and quantity, directly impacting the project’s commercial viability and attractiveness to partners and financiers.

Integrating updated drilling data into the BFS allows management to refine geological, engineering, and economic assessments. A larger, better-defined resource base may support longer mine life scenarios, improved economics, and more robust development pathways—key considerations in BFS evaluations. The focus on infill drilling at Plumbush and expansion at Blackbush highlights the company’s understanding of resource quality and classification’s impact on project feasibility and competitiveness.

CEO Andrea Marsland-Smith Highlights Commitment to Growth and Execution

Dr Andrea Marsland-Smith, CEO and Managing Director of Alligator Energy, emphasized the company’s dedication to advancing the Samphire Project through rapid execution of its growth strategy. She noted that drilling commenced promptly after the Mullaquana option agreement, underscoring focus on key value drivers. The CEO described the newly acquired ground as "long recognised as highly prospective," unlocking previously inaccessible exploration potential.

Dr Marsland-Smith expressed confidence in the drilling program’s ability to expand the mineral resource and reinforce the development case as the feasibility study progresses. She also committed to keeping shareholders informed as drilling results emerge, reflecting a strong emphasis on investor communication aligned with industry best practices during major project advancement.

Technical Expertise and Mineral Resource Validation

The Samphire Project’s mineral resource estimates have been compiled and verified by competent persons in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Plumbush resource information was prepared by Oliver Willetts, a member of the Australasian Institute of Mining and Metallurgy and consultant at SRK Consulting (Australasia) Pty Ltd, with relevant experience for this deposit type.

Blackbush resource data, exploration results, quality assurance, and geological aspects were compiled by Nick Jervis-Bardy, Alligator Energy’s Geoscience Lead and member of the Australasian Institute of Mining and Metallurgy. With five years’ experience in in-situ recovery uranium mining operations, he provides expertise pertinent to the uranium deposit style. Both professionals have consented to the inclusion of their work in the company update, affirming responsibility for the technical information disclosed.

Forward-Looking Statements and Underlying Assumptions

The company update contains forward-looking statements about future exploration results, resource estimates, and project advancement, which are subject to risks and uncertainties that may cause actual outcomes to differ materially. Alligator Energy disclaims any obligation to update these statements should circumstances or management estimates change.

The company confirms no new information materially affects prior announcements, including the Blackbush resource upgrade (May 2025) and the 67% resource increase (June 2026). All material assumptions and technical parameters remain unchanged, ensuring the validity of resource estimates and the basis for current drilling plans and expectations.

Upcoming Milestones and Shareholder Communication Plans

Alligator Energy’s immediate focus is executing the approximately 300-hole drilling program at Samphire. The company plans to keep shareholders updated on drilling progress and results. Drilling outcomes are expected to support a mineral resource update scheduled for Q1 2027, providing a key disclosure milestone on resource growth and project development.

Following the Q1 2027 resource update, the Bankable Feasibility Study remains a priority. Although specific timelines for BFS completion are not disclosed, the resource update represents an important intermediate milestone. The sequence of drilling results, resource updates, and BFS completion will be critical developments for shareholders monitoring the Samphire Project’s progression toward development decisions.