C29 Metals (ASX:C29) Secures Key Southern Tenement Around Ulytau Uranium Project

Perth, Australia – 1 August 2024 | C29 Metals Limited (ASX: C29) ("C29" or "the Company") is pleased to announce that the application for a significant southern tenement surrounding its Ulytau Uranium Project in Kazakhstan has been granted. This development marks a pivotal expansion of the Ulytau Project, which continues to gain strong local support and momentum.

Highlights:

• Grant of Southern Tenement: C29 has received notification that its application for the southern tenement has been granted. The process was completed in just 15 calendar days, highlighting the efficiency of government agencies and their support for the Company’s activities.

• Size and Location: The newly granted tenement, covering approximately 213 km², is the largest of the two recent applications. It is contiguous with the existing Ulytau Uranium project area, situated to the south and east of the current tenement boundaries.

• Exploration Approval Process: C29 will immediately commence the exploration approval process for this newly granted southern tenement. The approval process for the Company’s planned exploration programs at the Ulytau Uranium project is already at an advanced stage and remains on track.

• Strong Local Support: The project continues to benefit from strong local support, underpinned by a Social Support Agreement that has been signed with the local community.

Shannon Green, Managing Director of C29 Metals, stated:
“It is very exciting to have this highly prospective application granted in such a rapid timeframe. This is further demonstration of the positive operating environment in Kazakhstan and the support the company is enjoying”. 

The Ulytau Project is located in the Almaty Region of Southern Kazakhstan, approximately 15 km southwest of the Bota-Burum mine, one of the largest uranium deposits mined in the former Soviet Union. The area has a long history of uranium exploration and production, with the Bota-Burum mine commencing uranium production in 1956 and continuing until 1991.

The newly granted tenement is interpreted to share a similar mineralised trend to that of the existing Ulytau Project area, presenting a promising extension for future exploration.

Next Steps for C29 Metals:
C29 will focus on advancing the exploration approval process for the southern tenement and continue its exploration activities across the broader Ulytau Project area. The Company remains committed to unlocking the potential of this highly prospective region and delivering value to its shareholders.

Shannon Green
Managing Director
+61 (0) 400 597 562
[email protected]

About C29 Metals Limited:
C29 Metals Limited is an Australia-based company focused on the clean energy transition through the exploration and development of its portfolio of uranium and copper assets. The Company’s projects include Ulytau Uranium Project, Sampson’s Tank, Reedy Creek, Torrens Projects, Stadlers, Mayfield and Pocitos Lithium Argentina. Its Ulytau Uranium Project is located near Lake Balkhash in South Kazakhstan and situated over 15 kilometers (km) south of Bota-Burum mine. Its Sampson’s Tank covers over 93 square kilometers (km²), and lies within the high-grade base metal hotspot of the highly mineralized Girilambone District of the Lachlan Fold Belt, New South Wales. Its Reedy Creek Project is located in the Lachlan Fold Belt, within the Lachlan Transverse Zone (LTZ) and covers over 42km². The Torrens Project comprises over 1700km² of granted tenements tenure in the Gawler Craton in central South Australia. The 63 km² Stadlers Project is located 60km south of Paraburdoo in the Ashburton Basin.

Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]