GoviEx’s Madaouela 1 Mining Permit revised to include an additional 23.84 Million Pounds of Measured and Indicated Mineral Resources


VANCOUVER, CANADA –GoviEx Uranium Inc. (TSX-V: GXU; OTCQB: GVXXF) (“GoviEx”),is pleased to announce that further to GoviEx’s news release of July 19, 2019, the Republic of Niger (the “State”) has formally approved the revision to the shape of the Madaouela I Mining Permit that forms part of GoviEx’s flagship Madaouela uranium project in Niger (the “Madaouela Project”) to include the additional 5.96 million pounds (Mlb) U3O8 in the Measured and Indicated categories associated with the Miriam uranium deposit as well as 17.88 million pounds (Mlb) U3O8 in the Measured and Indicated categories associated Madaouela South North East (“MSNE”) deposit, both previously situated within the Agaliouk exploration permit. In addition, the State has confirmed the environmental and social impact assessment certificate for the Madaouela I Mining Permit also covers both the Miriam and MNSEdeposits. As this mineralization is not in a proven and/or probable mineral reserves category these mineral resources have not been included in the economic technical study included in the 2015 prefeasibility study.

“These 23.84 million pounds of measured and indicated mineral resourceswere discovered and delineated by GoviEx’ geologic exploration team.1,2As a result of this focused effort as well as GoviEx’s continued social and environmental workandsupport and cooperation with the State,these resources are nowincluded in the Madaouela 1 Mining Permit. We warmly welcome this significant milestone,as we advancethe optimization work and the de-risking efforts of the targeted mineral resources contained within the Madaouela Project.” said Chairman Govind Friedland.


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