QX Resources Limited has delivered a JORC Code (2012) compliant Exploration Target of 20 to 30 million tonnes grading 400 to 500 ppm $eU_3O_8$ — containing approximately 18 to 33 million pounds of $U_3O_8$ — for the 100%-owned Madaba Uranium Project in southern Tanzania.

The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

The independent estimate was prepared by The MSA Group (Pty) Ltd under the supervision of Principal Consultant George van der Walt, drawing on historical exploration data compiled by Uranerzbergbau GmbH between 1979 and 1982. QX Resources captured and digitised these records for three-dimensional modelling and grade-tonnage analysis, establishing nine priority, drill-ready targets across the 613-square-kilometre project area.

The selected range prioritises higher-grade mineralisation consistent with the current three-dimensional model, focusing on the portion of the system considered most relevant to potential open-pit evaluation while remaining conservative. Historical high-grade near-surface intercepts include 15 metres at 612 ppm $U_3O_8$ from 4 metres, including 3 metres at 2,465 ppm; 16 metres at 337 ppm $U_3O_8$, including 4 metres at 1,082 ppm; and 7 metres at 693 ppm $U_3O_8$.

The project shares geological similarities with the Nyota Uranium Deposit located in the same Luwegu Basin and Karoo sequence, which hosts a resource in the order of 125 to 152 million pounds of $U_3O_8$ at an average grade of approximately 300 ppm. QX Resources notes that geological similarity does not imply equivalence of tonnage or grade, but highlights the shared host rocks, mineralisation style, and near-surface supergene enrichment.

“This is a significant step forward for Madaba and for QXR. We now have an independently prepared JORC compliant Exploration Target that gives us a clear technical foundation and a defined pathway to a maiden Mineral Resource.”

— Maurice Feilich, Executive Chairman

QX Resources plans to execute a maiden drilling program in the second half of 2026, subject to Environmental Impact Assessment approval, with the objective of converting a meaningful portion of the Exploration Target into a maiden JORC Mineral Resource Estimate.

Read the full announcement: Significant Exploration Target Delivered at Madaba Project